AI in precision medicine market to soar to $38.9B by 2034 on 35.5% CAGR

Market growth is driven by ML, deep learning, EHR.

The global artificial intelligence (AI) in precision medicine market is projected to reach $38.88b by 2034, with a compound annual growth rate of 35.5%, driven by machine learning, deep learning, and data from electronic health records, genomic sequencing, and wearable devices.

Other factors include demand for individual care plans and clinical trial optimisation through predictive modelling, according to Polaris Market Research.

The Asia Pacific is the fastest-growing region, supported by digital healthcare initiatives and technology investment in China and India. North America is the largest regional market, owing to healthcare infrastructure and research investment.

The report noted that the software segment accounts for the largest revenue share, as clinicians use AI platforms for patient stratification, risk prediction, and treatment optimisation.

It added that the services segment also shows growth as institutions seek support for AI system implementation and training.

Deep learning is the leading technology segment, identifying patterns in genomic and clinical data to support diagnostics and treatment decisions.

Other technologies include natural language processing, context-aware processing, and querying methods, the report said.

Oncology is the leading therapeutic application, where AI assists with cancer detection, drug discovery, and treatment response forecasting. Neurology is the fastest-growing application area, as AI supports the diagnosis and management of Alzheimer’s and Parkinson’s disease.

Other therapeutic areas—including cardiology and respiratory care—expand, reflecting AI’s potential to improve personalised care across medical disciplines, Polaris Market Research said.