Meticulous Research®, a global leader in market research, has recently published a comprehensive 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.

AI in Genomics: A Rapidly Growing Market

The global AI in genomics market is set to grow at a striking CAGR of 42.8% from 2022 to 2029, reaching a market value of $6.22 billion by the end of the forecast period. This rapid growth is driven by increasing integration of AI in genomics and healthcare, rising investments in AI research, and the need to reduce diagnostic and drug discovery timelines. The growing role of machine learning in precision medicine and the emergence of innovative startups are also boosting market prospects.

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Market Structure and Segmentation

The report segments the AI in genomics market by offering (software, services), delivery mode (on-premises, cloud/web-based), functionality (genome sequencing, gene editing), application (drug discovery, diagnostics, precision medicine), and end-user (pharmaceutical companies, academic institutions). The report also provides an in-depth analysis of key players and market shares on a regional and global level.

Software Segment to Lead

By 2022, the software segment is expected to dominate the market, generating substantial revenue through licensing and subscription models. Advancements in AI technologies are continuously improving genomics software, further fueling market growth.

Cloud-Based Solutions to See Significant Growth

The cloud/web-based delivery mode is projected to experience the fastest growth, as it offers pharmaceutical companies cost-saving benefits, flexibility, and improved data security.

Genome Sequencing as a Key Functionality

Genome sequencing is forecasted to dominate the functionality segment by 2022, as AI tools significantly accelerate the analysis of large genetic datasets, facilitating the identification of disease-related genes.

AI's Role in Drug Discovery and Development

The drug discovery and development segment is anticipated to hold the largest share in the AI in genomics application category. AI-powered drug discovery enhances the efficiency of disease modeling, drug candidate optimization, and target identification, lowering research costs and accelerating the process.

Pharmaceutical Companies Leading the Way

Pharmaceutical and biopharmaceutical companies are expected to be the largest end-users of AI in genomics in 2022, utilizing AI solutions to reduce costs and timelines for drug development while improving precision medicine outcomes.

North America Dominates the Market

North America is expected to account for the largest market share, with the United States leading the way due to high investment in genomics research and the rapid implementation of AI in healthcare.

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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