Artificial intelligence (AI) has the potential to address key challenges in genomics by leveraging vast amounts of complex health data. AI applications such as machine learning and deep learning are being used for analyzing genomes, developing risk assessments and predictive models for certain diseases. AI is also helping in personalized disease diagnosis and treatment through precision medicine approaches.
The global Artificial Intelligence (AI) in Genomics Market is estimated to be valued at US$ 1.2 Billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Increased adoption of AI-powered precision medicine is one of the key trends driving the growth of the AI in Genomics market. Precision medicine is an emerging approach for disease treatment and prevention that takes into account individual variability in genetics, environment, and lifestyle for each person. AI algorithms can analyze complex genomic and other health-related data to identify genomic variations specific to an individual that affect disease risk, and help develop customized treatment and prevention strategies. This is expected to significantly improve treatment outcomes. AI is also helping in developing effective targeted therapies and personalized treatment regimens. The increasing demand for these precision medicine approaches is expected to boost the adoption of AI solutions in genomics, thereby propelling the market growth over the forecast period.
Segment Analysis
The global Artificial Intelligence (AI) in Genomics Market can be segmented based on offering, technology, application, end-use industry and region. In terms of offering, the services segment dominated the market in 2022 due to the growing demand for AI-driven precision medicine. Organizations are widely adopting various AI-enabled genomics services to modernize healthcare infrastructure and offer personalized treatment to patients.
Key Takeaways
The global Artificial Intelligence (AI) in Genomics market analysis is expected to witness high growth over the forecast period of 2023 to 2030. The global Artificial Intelligence (AI) in Genomics Market is estimated to be valued at US$ 1.2 Billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.
Regional analysis related content comprises: North America dominated the global market in 2022 due to heavy investments by leading AI and genomics companies as well as research institutes in countries like the United States and Canada. Growing adoption of precision medicine and rapidly increasing genomics research initiatives have further accelerated the regional market growth.
Key players related content comprises: Key players operating in the Artificial Intelligence (AI) in Genomics market are IBM, Microsoft, NVIDIA Corporation, Deep Genomics, BenevolentAI, Fabric Genomics, Inc., MolecularMatch, Inc., Cambridge Cancer Genomics, Freenome Holdings, Inc., Data4Cure, Inc., PrecisionLife Ltd, Lifebit Biotech, Ltd, Anthropic, and Tempus Labs, Inc.
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