Meticulous Research®, a global authority in market research, has released its report titled “Artificial Intelligence in Genomics Market by Offering (Software, Services), Functionality (Sequencing, Gene Editing), Application (Diagnostics, Precision Medicine, Drug Discovery and Development), Delivery Mode (On-premises, Cloud) and End User—Global Forecast to 2029.”
The report predicts that the global AI in genomics market will expand at a CAGR of 42.8% during the forecast period from 2022 to 2029, reaching a value of $6.22 billion by 2029.
Key growth drivers include the increasing application of AI in healthcare and genomics, rising investments in genomic research and AI, and efforts to reduce drug discovery and diagnostic turnaround times. Additionally, the adoption of machine learning in personalized medicine and the emergence of AI and genomics startups are creating new growth opportunities.
Market Segmentation and Competitive Landscape
The market is segmented by offering (software, services), delivery mode (on-premises, cloud & web-based), functionality (genome sequencing, gene editing, other functionalities), application (drug discovery and development, precision medicine, diagnostics, and other applications), end user (pharmaceutical & biopharmaceutical companies, academic & research institutes, and other end users), and geography. The report also evaluates the competitive landscape and market shares of major players globally and regionally.
In 2022, the software segment is anticipated to dominate the market by offering. This segment's high revenue is driven by subscription, licensed models, and SaaS, as well as ongoing technological advancements in AI for genomics.
The cloud & web-based delivery mode is forecasted to grow the fastest. The advantages of cloud-based/web-based offerings, such as cost savings, flexibility, automatic updates, and high data security, are driving their adoption among pharmaceutical & biopharmaceutical companies.
The genome sequencing segment is expected to lead the market by functionality in 2022. AI-enhanced genomics software offers increased flexibility and effectiveness in genome sequencing, which helps identify disease genes and mutations, thus driving the market forward.
Based on application, the drug discovery and development segment is projected to hold the largest market share in 2022. AI applications in drug discovery, such as modeling disease heterogeneity and optimizing drug candidates, are improving the efficiency and cost-effectiveness of the drug development process.
The pharmaceutical & biopharmaceutical companies segment is anticipated to account for the largest share of the market by end user in 2022. The demand for AI in genomics for drug discovery and precision medicine is driving this segment, enabling companies to speed up the drug discovery process and reduce costs.
The report provides a detailed analysis of key regions, including North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and Middle East & Africa.
North America is projected to account for the largest share of the global AI in genomics market in 2022, with the U.S. leading the region. This growth is driven by substantial public and private investments in genomics and the increasing adoption of AI in precision medicine.
Key Players
The key players operating in the global AI in genomics market are Microsoft Corporation (U.S.), NVIDIA Corporation (U.S.), Deep Genomics Incorporated (Canada), Fabric Genomics, Inc. (U.S.), Data4Cure, Inc. (U.S.), Predictive Oncology Inc. (U.S.), Emedgene Technologies LTD (U.S.), Congenica Ltd. (U.K.), Tempus Labs, Inc. (U.S.), SOPHiA GENETICS SA (Switzerland), Illumina Inc. (U.S.), and BenevolentAI Limited. (U.K.).

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Key questions answered in the report-
• Which are the high-growth market segments in terms of offering, delivery mode, functionality, application, end user, and geography?
• What was the historical market for AI in genomics across the globe?
• What are the market forecasts and estimates for the period 2022–2029?
• What are the major drivers, restraints, opportunities, and challenges in the global AI in genomics market?
• Who are the major players in the global Artificial Intelligence in genomics market?
• How is the competitive landscape, and who are the market leaders in the global AI in genomics market?
• What are the recent developments in the AI in genomics market?
• What are the different strategies adopted by the major players in the AI in genomics market?
• What are the geographic trends and high growth regions/countries?
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