One such industry that has immense scope for application of AI technologies is genomics. AI can analyze complex genomic data faster and more accurately than humans. It helps in identifying disease-causing genetic variations and accelerating drug discovery. Researchers are increasingly using AI and machine learning algorithms to analyze DNA sequences, proteomics data, and whole-genome data to predict disease risks, develop personalized treatment plans, and even enhance crop yields.
The global Artificial Intelligence (AI) in Genomics Market is estimated to be valued at US$ 409.5 million 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:
The adoption of AI in genomics has been growing in recent years. The advancement of technologies such as deep learning and neural networks has enabled genomic data scientists to analyze vast amounts of genomic and health records data and extract meaningful insights. AI is being increasingly used for high throughput analysis of DNA sequence variations, biomarkers, proteomic signatures, and clinical parameters that are not possible through manual methods. This is helping discover novel disease subtypes, predict disease progression more accurately, and personalize treatment strategies. AI algorithms can detect patterns in genomic and other health data that humans often miss. As genomic and health data grows exponentially, the use of AI and machine learning is poised to accelerate to gain deeper insights and push the frontiers of precision medicine.
Segment Analysis
Global AI in genomics market size is dominated by the diagnostics segment. Diagnostic segment holds the major share of AI in genomics market as it plays an important role in precision medicine by helping identify disease risk, detect disease onset, and select optimal and targeted treatment options. AI is effectively used in diagnostics for disease risk assessment, early disease detection, drug development, and treatment optimization through analysis of genomic, imaging, and other patient data.
Key Takeaways
The global Artificial Intelligence (AI) in Genomics Market 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$ 409.5 million in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.
Regional analysis shows that North America currently dominates the AI in genomics market due to the early adoption of AI technologies and availability of funding for genomics research. Asia Pacific region is expected to exhibit the highest CAGR during the forecast period owing to growing focus on precision medicine in countries like China and rising number of genomics projects in India. Increasing healthcare expenditure, expansion of private sector, and growing awareness regarding precision medicine are some key factors fueling the adoption of AI in genomics in Asia Pacific region.
Key players
Key players operating in the Artificial Intelligence (AI) in Genomics market are NVIDIA Corporation, International Business Machines Corporation (IBM), Microsoft, Deep Genomics, BenevolentAI, Fabric Genomics, MolecularMatch, Inc., Pathway Genomics Corporation, Lifebit, and Freenome Holdings, Inc. NVIDIA Corporation is a global leader in visual computing technologies and drives the growth of AI. IBM is focusing on developing AI-powered solutions for genomics to accelerate drug discovery.
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