AI in Precision Medicine Market Application and Industry Growth 2027


Posted December 27, 2022 by avinashgogawale14

The technological developments across cancer biologics is expected to drive the growth of AI in Precision Medicine Market over the forecast period.
 
Utilizing an individual's genomic information to create individualised treatment is known as artificial intelligence (AI) in precision medicine. The ability to research how genetic variables, such as mutations, cause diseases is now possible thanks to the massive accumulation of genomic data. AI, in particular deep learning, may collect patient data via wearable tech, medications, genomic profiles, diagnostic imaging systems, and electronic health records. Treatment plans for patients can be made using this data.

The two main drivers driving the growth of the AI in Precision Medicine Market are technological developments in cancer biology across developed nations and the increase in the world's geriatric population.

Drivers: The growth of the AI in Precision Medicine market will be driven by technological advances in cancer biology.

Over the course of the forecast period, the expansion of AI in the precision medicine market is anticipated to be driven by technical advancements in cancer biologics. Precision medicine has significantly improved as a result of the availability of enormous collections of human genetic databases and AI-based computational tools. Participants in the industry place a strong emphasis on strategic partnership and collaboration efforts to advance research into cancer biology and create the market for precision therapies. For instance, GE Healthcare (US) and Minerva Imaging (Denmark) formed a strategic partnership in June 2022 to enhance precision medicine for oncology therapies. The cooperation has a strong emphasis on utilising radionuclide therapy, a sort of precision medicine that uses radioactive substances to target cancer cells and irradiate them without the potential adverse effects of conventional cancer medicines. Over the projected period, such innovations and cooperation activities will drive the AI in Precision Medicine Market Growth.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=153786351

global increase in the number of older people

The elderly population has seen a tremendous increase, and it is anticipated that this trend will continue in the years to come. For instance, one in six individuals worldwide will be 60 or older by 2030, according to estimates released by the World Health Organization (WHO) in October 2022. Additionally, the number of persons 60 and older, or roughly 2.1 billion, will have doubled by 2050. When compared to younger individuals or populations, the risks of infections are higher in the geriatric population. Over the forecast timeframe, this will lead to a rise in the usage of AI-based precision medicines.

Challenges: One of the biggest is the high expense of the precision medications.

In comparison to conventional pharmaceuticals, the expenditures associated with research and development are higher for AI-based precision medicine. Due to the fact that these medications are made particularly for each patient and not for the general public, their production costs are high. Additionally, serious threats to individual health data present a barrier to the development of AI in the market for precision medicine.

Key Players in the market

A few of the major participants in the AI in Precision Medicine Market globally are BioXcel Therapeutics Inc. (US), GE Healthcare (US), Insilico Medicine (US), Intel Corporation (US), Microsoft (US), Tempus (US), NVIDIA Corporation (US), Sanofi (France), Sensely, Inc. (US), and Zephyr AI (US).

Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/ai-in-precision-medicine-market-153786351.html

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Visit Our Website: https://www.marketsandmarkets.com
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Avinash
Phone +1-888-600-6441
Business Address Tower B5, office 101, Magarpatta SEZ,
Hadapsar, Pune-411013, India
Country India
Categories Business , Industry , Semiconductors
Tags ai in precision medicine market
Last Updated December 27, 2022