The global AI in oncology market was estimated at USD 4.18 billion in 2024 and is projected to reach USD 19.17 billion by 2030, growing at a CAGR of 26.17% from 2025 to 2030. This rapid growth is primarily driven by the increasing prevalence of cancer, ongoing technological advancements in cancer diagnostics, enhancements in healthcare infrastructure, and a growing emphasis on early and accurate cancer diagnosis. The integration of artificial intelligence into oncology enables more precise detection, treatment planning, and monitoring, addressing critical needs in patient care.

The market is further supported by significant R&D investments undertaken by public and private organizations to develop novel AI-driven technologies for cancer care. A notable example is Tempus, a precision medicine and AI-focused company, which in October 2022 launched the Tempus+ program. This proprietary initiative leverages real-world data to facilitate collaborative precision oncology research. A network of leading research institutions, including Baylor College of Medicine, Allegheny Health Network, Stanford Cancer Center, Rush University Medical Center, and TriHealth, is already utilizing the Tempus+ platform to advance their research efforts, highlighting the growing adoption of AI in oncology studies.

In addition, regulatory approvals for AI-enabled medical devices are anticipated to propel market growth. For instance, in January 2024, the U.S. FDA approved DermaSensor, the first AI-based medical device designed for skin cancer detection, marking a significant milestone in the clinical adoption of AI solutions for cancer care.

Looking forward, AI applications in oncology are expected to achieve transformative advancements, spanning early detection, precision medicine, and personalized treatment planning. By analyzing vast datasets, identifying subtle patterns, and delivering real-time insights, AI has the potential to revolutionize cancer diagnosis and therapy. These innovations are likely to improve patient outcomes, enhance treatment accuracy, and make healthcare delivery more efficient, ultimately reshaping the landscape of oncology care.

Key Market Trends & Insights:

• The North America AI in oncology market dominated the global landscape in 2024, accounting for the largest revenue share of 43%. This leading position is driven by the region’s well-established healthcare infrastructure, advanced technological adoption, significant R&D investments, and high prevalence of cancer, which together support the rapid uptake of AI-enabled oncology solutions.

• By component type, the hardware segment led the market in 2024, capturing the largest revenue share of 39%. Hardware solutions, including imaging devices, servers, and computing infrastructure, are critical for enabling AI-driven analytics and supporting complex oncology workflows, making them an essential component of AI-based cancer care.

• In terms of cancer type, the breast cancer segment held the largest revenue share of 20.83% in 2024. This dominance reflects the high prevalence of breast cancer globally and the increasing use of AI technologies for early detection, diagnostics, treatment planning, and monitoring, which helps improve patient outcomes and clinical efficiency.

• By application, the diagnostics segment led the market, accounting for the largest revenue share of 37% in 2024. AI-enabled diagnostics are increasingly adopted to enhance the accuracy of cancer detection, interpret medical imaging, and provide decision support for oncologists, which is critical for improving early diagnosis rates and personalized treatment strategies.

• Based on end use, the hospitals segment captured the largest revenue share of 48.53% in 2024. Hospitals serve as primary points of care for cancer patients, providing access to advanced AI-driven oncology technologies across departments such as radiology, pathology, and oncology. The high adoption in hospitals highlights the critical role these institutions play in implementing AI solutions for efficient, accurate, and patient-centric cancer care.

Order a free sample PDF of the AI In Oncology Market Intelligence Study, published by Grand View Research.

Market Size & Forecast:

• 2024 Market Size: USD 4.18 Billion

• 2030 Projected Market Size: USD 19.17 Billion

• CAGR (2025-2030): 26.17%

• North America: Largest market in 2024

• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights:

Key players in the AI in oncology market are increasingly adopting strategies such as new product development, strategic partnerships, and mergers & acquisitions to strengthen and expand their market share. Prominent market participants, including Azra AI, IBM, Siemens Healthcare GmbH, Intel Corporation, and others, have established a strong presence by focusing on the development of novel technologies designed to address a variety of end-use applications across oncology care.

For example, in January 2023, Massive Bio announced plans to incorporate AI into oncology through the development and launch of a drug-matching product aimed at improving personalized cancer treatment. This initiative highlights the increasing integration of AI tools to optimize therapy selection and enhance clinical outcomes for patients.

Moreover, industry participants continue to pursue new product introductions as a key strategy to maintain a competitive advantage in the rapidly evolving market. For instance, in January 2020, ConcertAI launched eurekaHealth 3.0, a platform that combines real-world data (RWD) with AI technologies to provide actionable insights and real-world evidence services for oncology clinical development. Such innovations underscore the emphasis on leveraging AI to improve decision-making, accelerate research, and enhance the effectiveness of cancer treatment across diverse healthcare settings.

By focusing on technology-driven solutions, collaborations, and product innovation, these key players are not only addressing the growing demand for AI-enabled oncology tools but also positioning themselves to lead in a market poised for substantial growth.

Key Players

• Azra AI

• IBM

• Siemens Healthcare GmbH

• Intel Corporation

• GE HealthCare

• NVIDIA Corporation

• Digital Diagnostics Inc.

• ConcertAI

• Median Technologies

• PathAI

• MVision AI

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion:

The AI in oncology market is set for dramatic growth, driven by rising cancer incidence, advances in diagnostics and healthcare infrastructure, and growing demand for early, accurate diagnosis and personalized care. Hardware currently leads the market, but software solutions are emerging rapidly. AI-enabled diagnostics — particularly for cancers such as breast cancer — are already the dominant application, with hospitals being the primary end user. As more AI-based tools are approved and adopted, the market outlook remains highly favorable, with AI expected to transform cancer detection, diagnosis, and treatment.