AI in omics studies refers to the application of artificial intelligence techniques such as machine learning and deep learning in omics data analysis. Omics comprises genomics, proteomics, metabolomics, and other high-throughput technologies used to study biological systems. Advancements in genome sequencing, along with a decline in costs, have resulted in large volumes of omics data being generated. AI helps analyze this bulk of unstructured omics data, integrate multi-omics datasets, and extract meaningful insights. AI tools aid in biomarker identification, drug discovery, personalized medicine, and diagnostics using omics data.
Key Takeaways
Key players operating in the Global AI in Omics Studies are Thermo Fisher Scientific, Agilent Technologies, Illumina, BGI Genomics, Dassault Systèmes, Qiagen, Waters Corporation, GE Healthcare, Amazon Web Services, Inc., Bruker, Danaher. Thermo Fisher Scientific and Illumina hold a major market share owing to their established portfolio of genome sequencing products and services. Companies are focusing on strategic collaborations and acquisitions to expand their AI and omics studies offerings. For instance, in 2022 Illumina acquired GRAIL, a healthcare company focused on multi-cancer early detection from blood tests using AI and genomics.
The key opportunities in the AI In Omics Studies Market Size include increasing adoption of multi-omics approaches, development of cloud-based AI solutions for omics data analysis, and growing demand for AI-based drug discovery and precision medicine capabilities. Rapid digitization of omics data due to initiatives like cancer moonshot programs is fueling the demand for AI in omics applications.
AI solution providers are focusing on global expansion through partnerships with academic research institutions and pharma companies. North America dominates the market currently due to substantial government funding for genomics and AI research. However, Asia Pacific is expected to witness highest growth owing to heavy Chinese investments and growing genomics research in countries like India, Singapore, and Japan.
Market drivers:
Increase in genomics research budgets globally and rising R&D investments by pharmaceutical companies in drug discovery using omics data is a key driver for the AI in Omics Studies Market. Application of AI in precision medicine for improved disease prognosis and personalized treatment is garnering significant interest.
Market restraints:
Significant upfront capital investments required for setting up omics infrastructure and lack of skilled workforce for developing and analyzing omics datasets using AI techniques hampers market growth. Data integration challenges arising due to heterogeneity of omics data generated from varied sources also acts as a restrain.
Segment Analysis
The segment is dominating the market is sequencing platforms which holds around 35% of the total market share in 2024. Sequencing platforms are widely used by research institutes and pharma companies for genomics studies. It provides high throughput sequencing at affordable costs which is fueling its demand. Another fast growing segment is the analytics software which is projected to witness over 30% CAGR during the forecast period. Increasing adoption of AI and cloud based tools for storage and analysis of massive sequencing data is driving the growth of analytics software segment.
Global Analysis
North America region dominates the global AI in omics market with over 40% share in 2024 owing to presence of largest genomics market and availability of funding for research activities in the region. Asia Pacific is anticipated to be the fastest growing region during the forecast period. Rising R&D investments by pharmaceutical companies, increasing healthcare IT expenditure and growing initiatives by governments are fueling the market growth in Asia Pacific region. China and India are emerging as potential markets in the region. Europe holds significant share in the global market supported by existing clinical and research infrastructure and growing adoption of precision medicine approach.
Get more insights on AI In Omics Studies Market
Comments
0 comment