AI in Oncology Market Overview Analysis By Fortune Business Insights Analysis
Market Summary
According to Fortune Business Insights: The global AI in oncology market was valued at USD 3.66 billion in 2025 and is projected to grow from USD 4.43 billion in 2026 to USD 33.09 billion by 2034, exhibiting a CAGR of 28.58% during the forecast period. The market covers AI, mainly machine learning, deep learning, and natural language processing, used to detect cancer earlier, classify tumors, select personalized treatments, and track outcomes. Rising cancer incidence and expanding screening programs are the main growth drivers. North America led the market with a 42.62% share in 2025.
Key Market Trends
Pharma and biotech investment in AI is a defining trend, with sponsors using AI to find trial-eligible patients, prioritize drug targets, and reduce wet-lab cycles. This is driving data partnerships, licensing deals, and multi-sponsor platforms, as seen in May 2024, when Precision Cancer Consortium and Massive Bio reported results from a multi-sponsor trial-matching study.
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Key Market Drivers
Rising cancer incidence and expanded screening programs are the primary growth drivers, as they place growing strain on radiology and pathology capacity and push providers toward AI-assisted workflows. Geisinger's July 2025 AI breast screening program, which flagged high-risk patients overdue for mammograms, illustrates how health systems are applying AI to close screening gaps.
Market Restraints
Complex regulation and inconsistent reimbursement delay product launches and keep many hospitals in pilot phases, with the EU AI Act and EU Medical Device Regulation potentially imposing overlapping compliance requirements. High implementation costs and IT infrastructure needs add further pressure, especially for smaller hospitals, while integration with PACS, LIS, and EHR systems, plus cybersecurity and staff training, increases expense and leaves many projects stalled between pilot and production.
Market Opportunities
Combining cloud platforms with edge devices is a key opportunity, supporting multi-site deployment, low-latency imaging inference, and operation during poor connectivity. GE HealthCare's March 2025 Genesis cloud imaging portfolio, which includes an edge capability, reflects this direction.
Segmentation Analysis
By component, software and services hold the largest share, driven by subscriptions and modular licenses, while hardware and devices are projected to grow at a 24.16% CAGR. By deployment, on-premise was expected to hold the largest share in 2025 and 45.0% in 2026, while cloud-based deployment is projected to grow fastest at a 37.10% CAGR. By technology, machine learning and deep learning dominated in 2025 and are projected to hold 64.9% in 2026, while natural language processing is projected to grow at a 32.07% CAGR. By indication, breast cancer had the highest share in 2025 and is projected to hold 23.6% in 2026, while lung cancer is projected to grow at a 31.04% CAGR. By application, screening and diagnosis had the highest share in 2025 and is projected to hold 18.3% in 2026, while patient monitoring is projected to grow at a 35.04% CAGR. By end user, healthcare providers led in 2025 and are projected to hold 46.6% in 2026, while pharmaceutical and biotechnology companies are projected to grow at a 31.49% rate.
Regional Outlook
North America led the market with a 42.62% share in 2025 (USD 1.56 billion, up from USD 1.30 billion in 2024), with the U.S. at approximately USD 1.73 billion in 2026, or about 39.1% of global revenue.
Europe is the second-largest region and is projected to grow at a 21.15% CAGR, with Germany at approximately USD 0.29 billion (about 6.6% of global) and the U.K. at approximately USD 0.25 billion (about 5.7%) in 2026.
Asia Pacific, the third-largest region, is projected at approximately USD 0.80 billion in 2026, led by Japan at approximately USD 0.18 billion (about 4.0%), China at roughly 4.6% of global revenue, and India at approximately USD 0.16 billion (about 3.5%).
Latin America is projected at approximately USD 0.32 billion in 2026 with slower growth, while the GCC region in the Middle East & Africa is projected at approximately USD 0.08 billion (about 1.7%).
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Competitive Landscape
The market is highly fragmented, with profiled companies including Tempus (U.S.), Azra AI (U.S.), Ibex Medical Analytics (Israel), SOPHiA GENETICS (U.S.), PathAI (U.S.), Siemens Healthineers (Germany), Insilico Medicine (U.S.), Guardant Health (U.S.), Hoffmann-La Roche (Switzerland), and Elekta (Sweden), with GE HealthCare also named as a prominent player.
In November 2025, Oracle and the Canadian Institute for Cancer Care announced a collaboration on AI in oncology, and in October 2025, Dana-Farber, Fred Hutch, MSK, and Johns Hopkins launched the Cancer AI Alliance, backed by AWS, Deloitte, Microsoft, and NVIDIA.
In September 2025, Labcorp announced it would implement Roche's FDA-cleared VENTANA digital pathology scanners.
In June 2025, PathAI received FDA 510(k) clearance for AISight Dx for primary diagnosis, and Clairity received FDA De Novo authorization for CLAIRITY BREAST, which predicts five-year breast cancer risk from screening mammograms.
In May 2025, Viz.ai launched the Viz Oncology Suite, and in April 2025, Paige received FDA Breakthrough Device designation for Paige PanCancer Detect.
In March 2025, Philips expanded its partnership with Ibex Medical Analytics, and in October 2024, GE HealthCare announced CareIntellect for Oncology.
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