Artificial Intelligence in Precision Medicine: A Market of 37.60 Billion Dollars by 2034!

According to the latest research conducted by Nova one advisor, the global market for **artificial intelligence in precision medicine** is valued at 1.75 billion USD in 2024, and is expected to reach 37.60 billion USD by 2034 , exhibiting a compound annual growth rate (CAGR) of 35.9% during the forecast period of 2024 to 2034. The fusion of artificial intelligence (AI) and precision medicine is transforming the landscape of health.

Key points about the Artificial Intelligence in Precision Medicine market:

• The deep learning segment dominated the market with a share of 33.7% in 2024.
• The software segment captured the largest market share with 41.6% in 2024.
• This software segment is expected to witness the fastest growth, with a projected CAGR of 36.2% during the forecast period.
• Oncology ranks as the dominant segment, accounting for a revenue share of 31.0% in 2024.
• The neurology segment is expected to register the fastest CAGR of 36.8% over the forecast period.
• The North America region dominated with a revenue share of 29.6% in 2024.
• This is expected to boost the market growth in this country, while Europe is expected to show substantial growth with a CAGR of 36.3% during this period.

The integration of AI into precision medicine uses AI tools to personalize medical treatments based on patients and healthcare providers, while AI helps identify, diagnose and predict treatment outcomes safely and accurately. These advancements are promoting the emergence of technological solutions in the healthcare industry, thereby contributing to the growth of the market.

Continuous advancements and groundbreaking innovations, along with access to deep analytics platforms and health monitoring systems integrated with AI and machine learning tools, improve outcomes** clinical trials**, as well as research and personalized therapies for patients, thereby promoting the global growth of the precision medicine market in the near future.

Additionally, the range of applications, such as real-time monitoring, early disease detection, drug development and personalized treatment plans, are helping to boost the adoption of **precision medicine** among healthcare professionals and the general public. Growing investments, increased government support, and funding by various organizations are also favoring the growth of the market.

Artificial Intelligence in Precision Medicine Market Trends:

• Robust cybersecurity systems for AI-enabled precision medicine: With the digitalization of the healthcare sector and the integration of AI, the need to reduce cybersecurity risks by protecting sensitive patient information is paramount, which includes complying with strict regulations.
• Increased emphasis on personalized care: Growing awareness of the use of precision medicine for individualized care and advances in AI and machine learning are improving life outcomes for patients with chronic conditions.

Good to know

• Precision medicine is moving towards individualized treatments, taking into account the genetic and biological characteristics of the patient.
• AI technologies facilitate the development of more effective drugs through the analysis of large amounts of data.
• International collaborations between companies and research institutions are driving innovations in this area.
• Ethical issues related to the use of personal health data remain a matter of concern in the development of AI-based solutions.
• Advances in early diagnosis, particularly for cancer, are opening up new perspectives for the treatment of diseases.