Artificial Intelligence in Precision Medicine Market Growth, Analysis and Key Players
The global Artificial Intelligence (AI) in precision medicine market is projected to expand from USD 1.74 billion in 2022 to over USD 16.91 billion by 2032, reflecting a compound annual growth rate (CAGR) of 25.54% from 2023 to 2032. This growth is driven by the increasing prevalence of cancer and the growing demand for personalized healthcare solutions.
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The imperative for Early Cancer Detection Drives Surge in Precision Medicine Market Fueled by AI advancement, with 609,820 Deaths in 2023 Reported By National Cancer Society, Spotlighting Urgent Need for advanced Solutions
The intersection of artificial intelligence(AI) and precision medicine holds the potential to transform healthcare significantly. Precision medicine techniques aim to identify specific patient phenotypes with uncommon responses to treatment or distinct healthcare requirements. AI plays a pivotal role by employing advanced computational processes and interference, allowing the system to derive valuable Insight, enhance reasoning capacity, and facilitate continuous learning. This, in turn, empowers healthcare practitioners in their decision-making processes through augmented intelligence. Recent literature underscores the importance of translation research in exploring the convergence of AI in Precision medicine, particularly those involving the interplay of non-genomic and genomic determinants. Integrating diverse data sources, including patient symptoms, clinical history and lifestyle, will streamline personalized diagnosis and prognostication.
AI in Precision Medicine Market Companies
- IBM is a leader in AI, utilizing its Watson Health platform to develop personalized treatment solutions for patients.
- Microsoft is making strides with its AI and cloud technologies, focusing on transforming healthcare systems and enabling precision medicine.
- Google through its AI and deep learning technologies, is contributing to advancements in genomics and personalized medicine.
- NVIDIA provides powerful AI hardware solutions that accelerate research and clinical applications in precision medicine.
- Illumina is a leader in genomics, using AI to enhance genetic sequencing and develop personalized treatments.
- Roche integrates AI to improve drug discovery and healthcare services, focusing on personalized care solutions.
- Johnson & Johnson is leveraging AI to enhance its healthcare offerings, particularly in personalized medicine and diagnostics.
- GE Healthcare is using AI to improve imaging technology and diagnostic tools, playing a significant role in precision medicine.
- Intel Corporation develops AI chips that are essential for advancing precision medicine through faster data processing and research.
- AstraZeneca applies AI technologies to streamline drug development processes and personalize treatments for patients.
- Sanofi is exploring the potential of AI to enhance drug discovery, genomics, and patient care personalization.
- Tempus is a technology-driven company focused on precision medicine, using AI to analyze clinical and molecular data to guide treatment decisions.
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Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.
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