AI in oncology market trends, Size, Share 2035
With an aim to counter the rising number of cancer cases across the globe, AI has emerged as the key enabler in cancer treatment to improve detection accuracy, speed, assist clinical decision-making and result in better clinical outcomes
Over 2,770 patents have been granted / filed by academic and industry stakeholders in the last five years, exclusively for the development of artificial intelligence in oncology
The increasing interest of service providers in the development of ai in oncology-based software solutions has led to the expansion of intellectual capital associated with the advancements in ai in oncology market. A number of patents have been filed by companies / organizations in order to protect novel intellectual property generated within this field. It was observed that across 2770 which were filed / granted till february 2022. In addition, it is highlighted the various trends associated with patent type, publication year, patent jurisdiction, applicants, patent legal status, cooperative patent classification (cpc) symbols and leading industry / non-industry players (in terms of number of patents filed / granted) within this field. in addition, it includes an insightful patent benchmarking analysis, highlighting the relative valuation of patents filed / granted related to cell invasion and migration assay kits based on parameters, such as patent age, number of citations and region.
Majority (69.42%) of the patents filed in this domain have not received approval yet, followed by those that have been granted approval (30.54%). It is worth mentioning that there has been a steady increase in the patent activity within this domain, growing at a CAGR of 31%.
In pursuit of gaining a competitive edge, industry stakeholders are actively upgrading existing capabilities and enhancing their ai focused service portfolios
In order to determine the relative competitiveness of companies engaged in providing AI in oncology-based software solutions, we focused on several relevant parameters, such as, supplier strength (considering company’s overall experience in the industry), portfolio diversity (calculated using type of service(s) offered, type of AI technology, type of platform and type of end-users) and portfolio strength (calculated using no. of platforms and the no. of oncological indications it can target). PathAI has a higher portfolio diversity and a low supplier strength based on the year of experience. PathAI is a large-sized AI-powered healthcare company established in 2016, with an experience of around 6 years, the company claims to be active in AI powered cancer diagnosis. Further, the company claims to have designed solutions to increase human expertise and improve clinical and operational workflows. In addition to this, the AI technology offered by the company are machine learning with their end-users being hospitals and pharmaceutical companies
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