AI in Oncology Market Size, Share, Regional Growth, 2026-2034

Market Overview

According to fortune business insights, The global AI in oncology market size was valued at USD 3.66 billion in 2025. The market is projected to grow from USD 4.43 billion in 2026 to USD 33.09 billion by 2034, exhibiting a staggering CAGR of 28.58% during the forecast period. North America dominated the AI in oncology market, holding a valuation of USD 1.56 billion in 2025.

AI in oncology involves employing artificial intelligence—primarily machine learning/deep learning (ML/DL) and natural language processing (NLP)—to enhance cancer treatment and research. This technology assists healthcare professionals and life-science groups in identifying cancer sooner, accurately classifying tumors, selecting personalized treatments, and tracking results. The analysis shows that market growth is driven by the increasing prevalence of cancer and expanding screening programs, which heighten the demand for scalable diagnostic tools. For example, in May 2024, the Precision Cancer Consortium (PCC) and Massive Bio announced results from a clinical trial matching study highlighting how AI improves oncology trial matching and drug development workflows.

Major Players Profiled in the Market Report:

• TEMPUS (U.S.)

• Azra AI (U.S.)

• Ibex Medical Analytics (Israel)

• SOPHiA GENETICS (U.S.)

• PathAI, Inc. (U.S.)

• Siemens Healthineers AG (Germany)

• Insilico Medicine (U.S.)

• Guardant Health, Inc. (U.S.)

• Hoffmann-La Roche (Switzerland)

• Elekta (Sweden)

Segments

Increasing Number of Software Deployments to Propel Segmental Growth

Based on component, the market is divided into hardware/devices and software & services. The software & services segment captures the largest market share as buyers increasingly purchase AI through subscriptions or modular licenses that scale across multiple sites and produce repeatable annual revenue.

Rising Focus on Cloud-based Solutions and Data Security Supported On-Premise Dominance

By deployment, the market is divided into cloud-based, on-premise, and hybrid. The on-premise segment holds the largest market share in 2025, as many cancer workflows rely on tight integration with legacy systems. On-premise setups help meet strict governance requirements and give providers direct control over cybersecurity for regulated clinical workflows.

High Usage in Various Applications to Boost Machine Learning & Deep Learning Segmental Growth

In terms of technology, the market is segmented into machine learning & deep learning, natural language processing, and others. The machine learning & deep learning segment dominates because it scales well across sites and neural networks are highly effective for detection, segmentation, classification, and quantitative scoring.

Increasing Focus on Screening Programs to Boost Breast Cancer Segmental Growth

By indication, the market is divided into breast cancer, lung cancer, prostate cancer, colorectal cancer, brain tumors, and others. The breast cancer segment captures the highest share due to its large standardized screening footprint (e.g., mammography), making it easier to train, validate, and deploy ML models for triage and risk prediction.

High Usage in Care Pathways to Boost Screening & Diagnosis Segmental Growth

Based on application, the market is divided into screening & diagnosis, pathology, radiation oncology, clinical decision support (CDS) & therapy selection, patient monitoring, drug discovery & development, clinical trial matching, and others. Screening & diagnosis holds the highest share as these workflows (e.g., mammography, LDCT, MRI) are highly repeatable, allowing AI tools to be deployed across many scanners to generate high-throughput usage.

High Utilization of AI by Healthcare Providers to Support Segment’s Leading Position

Based on end user, the market is segmented into pharmaceutical & biotechnology companies, healthcare providers, academic & research institutes, diagnostic laboratories, and others. The healthcare providers segment leads the market as they are the primary point of care where AI is used daily to manage high-volume clinical workflows.

Source: https://www.fortunebusinessinsights.com/ai-in-oncology-market-111752

Report Coverage

The report offers:

• Extensive examination of the market size and projections for all market segments.

• Information on market dynamics and trends anticipated to propel the market.

• Insights into crucial elements, such as product innovations, the regulatory landscape, and new product introductions.

• Details on collaborations, mergers & acquisitions, and significant industry advancements.

• A comprehensive competitive landscape with details on market share and profiles of major active participants.

Drivers & Restraints

Growing Cancer Incidence & Screening Programs Propels Market Growth

The rising global cancer burden and wider screening coverage are pushing health systems to adopt scalable diagnostic tools. Because traditional radiology and pathology capacities cannot expand at the same pace as patient volumes, providers are looking for AI to triage, standardize reads, and flag high-risk cases without adding proportional headcount.

However, regulatory complexity and variable reimbursement pathways hamper market growth. Vendors must navigate overlapping approval frameworks, which delays product launches and raises expenses. Additionally, high implementation costs and the requirement for robust IT infrastructure challenge smaller hospitals, leading to extended procurement cycles and delayed adoption.

Regional Insights

Concentration of AI Providers Propels Market Growth in North America

North America holds the dominant AI in oncology market share, driven by a high concentration of AI providers, extensive imaging networks, and supportive reimbursement policies.

Europe holds the second-leading position, supported by expanding digital pathology, standardization of cancer pathways across public systems, and a strong focus on data governance. Asia Pacific is anticipated to be a highly lucrative region, fueled by substantial increases in cancer cases, a surge in the use of cloud/hybrid hospital IT, and heightened biopharma funding for clinical trials in developing markets like China and India.

AI in Oncology Market Future Growth:

The AI in oncology market is expected to experience exponential growth, heavily fueled by rising investments from pharma and biotech companies utilizing AI for drug discovery and clinical trial matching. Future expansion will rely on combining cloud computing with edge devices. This hybrid "edge-to-cloud" approach solves scalability and clinical feasibility issues by allowing multi-site hospital networks to centralize model management in the cloud, while utilizing edge devices for low-latency, secure data processing right next to CT/MRI scanners. As hospitals shift away from isolated pilot projects to enterprise-wide SaaS deployments, AI will become deeply embedded across the entire oncology care continuum.

Competitive Landscape

Focus on Scalable AI Workflows and Installed Bases to Strengthen Market Share

The market is highly fragmented, featuring large medtech incumbents, precision-oncology data players, and specialist AI software vendors like Siemens Healthineers AG, Elekta, GE HealthCare, Roche, and PathAI. These leading companies are maintaining their dominance by leveraging strong footprints in radiation oncology, embedding AI into end-to-end cancer care workflows, and utilizing large installed bases across clinical sites. They are continuously engaging in new product launches and strategic partnerships to widen adoption across hospitals and imaging networks.

Key Industry Development

• November 2025: Oracle and the Canadian Institute for Cancer Care (Ci4CC) announced a collaboration to advance AI in oncology, interoperability, and personalized medicine.

• October 2025: Dana-Farber, Fred Hutch, MSK, and Johns Hopkins launched the Cancer AI Alliance, backed by AWS, Deloitte, Microsoft, and NVIDIA, to accelerate applied AI using cancer data.

• September 2025: Labcorp announced a collaboration with Roche to implement FDA-cleared VENTANA digital pathology slide scanners to support future AI integration.