Artificial intelligence (AI) in genomics refers to the use of AI techniques to analyze complex genomic and biomedical data and aid in disease diagnosis, prognosis, and personalized treatment. AI enables detection of patterns, prediction of outcomes, and discovery of insights by learning from large datasets of genomic studies. The rising adoption of precision medicine has accelerated the use of AI as it analyzes enormous genetic data to deliver individually customized healthcare solutions. AI also aids in accelerating drug discovery by drawing meaningful conclusions from massive genomic datasets.
The global Artificial Intelligence (AI) in Genomics Market is estimated to be valued at US$ 1.33 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing adoption of precision medicine has been a major driver for the increasing use of AI in genomics. Precision medicine involves the use of a patient's genetic makeup to provide customized treatment and care. With the ongoing decline in sequencing costs, a massive amount of genomic data is being generated and the need to analyze this data comprehensively through AI techniques is rising. AI algorithms can learn from large genomic datasets and help physicians make informed treatment decisions based on a patient's unique genetic profile. This is accelerating the growth of the AI in genomics market. AI also aids in accelerating the drug discovery process by identifying meaningful associations from vast genomic datasets which was not possible through conventional methods. This key trend will continue to boost the demand for AI in genomics solutions over the forecast period.
Segment Analysis
The global artificial intelligence (AI) in genomics market is dominated by product and services segment. The product segment is further divided into NGS workstations and systems, microarray workstations and systems, sequencing and gene synthesis instruments and services. Among these, the NGS workstations and systems sub-segment accounts for the largest share owing to increasing demand for next-generation sequencing in the field of genomics. NGS deliver high throughput, scalability, speed and accuracy in genomic analysis. Due to these advantages, there is high demand for NGS instruments which is driving the growth of this sub-segment.
Key Takeaways
The global Artificial Intelligence (AI) In Genomics Market Demand is expected to witness high growth.
Regional analysis: The North America region currently dominates the global AI in genomics market and is expected to maintain its dominance during the forecast period. The region has presence of major players and availability of advanced healthcare infrastructure. The growing government funding for genomic and AI projects is also fueling market growth in North America.
Key players operating in the artificial intelligence (AI) in genomics market are Thermo Fisher Scientific, F. Hoffmann-La Roche AG, Qiagen N.V, Hologic Inc., Siemens Healthineers AG, BioMerieux SA, Abbott Laboratories, Bio-Rad Laboratories Inc., Becton, Dickinson and Company, and Danaher Corporation (Beckman Coulter, Inc.), among others.
Explore more related article on this topic: https://www.newswirestats.com/artificial-intelligence-ai-is-transforming-genomics-to-accelerate-market/
For More Insights On This Topic: https://captionssky.com/central-venous-catheter-market-in-the-u-s-an-overview/
Comments
0 comment