Artificial Intelligence In Genomics Market Size And Forecast

Artificial Intelligence In Genomics Market size was valued at USD 191.90 Million in 2020 and is projected to reach USD 5628.19 Million by 2028, growing at a CAGR of 52.60% from 2021 to 2028.

The need to control drug development and discovery costs and time are fueling the market of Artificial Intelligence In Genomics Market expansion. The increasing public, as well as private investments in AI in genomics, are driving the market growth. The adoption of AI solutions in precision medicine is driving the growth of this market. The Global Artificial Intelligence In Genomics Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Artificial Intelligence In Genomics Market Definition

Genomics is a branch of science that focuses on genes and their function, structure, evolution, and mapping of genomes in short organisms of the entire gene. The genomic test is generally carried out to understand disease susceptibility, drug response, and human biology. The study of genomics involves the analysis of structure and function, sequencing of DNA, bioinformatics to sequence, and recombinant DNA. Artificial intelligence (AI) in genomics focuses on the application of AI in the development of computer systems that can perform tasks such as genome mapping.

Additionally, AI helps in the faster study of the structure, evolution, and function of genetic material than is possible with human intervention. The main goal of AI algorithms is to mimic human intelligence; however, it is used in clinical genomics to perform genomic analysis, which includes genome annotation, variant calling, phenotype-to-genotype correspondence, and genome annotation. Furthermore, AI methods can help accurately predict protein structure or DNA data with minimal feature handcrafting. In the field of personalized medicine, genomics has a significant role to play. AI can aid in the production of medicines in this field.

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Global Artificial Intelligence In Genomics Market Overview

The need to control drug development and discovery costs and time are fueling the market of artificial intelligence in genomics expansion. Over the forecast period, the Global Artificial Intelligence In Genomics Market is predicted to rise due to an increase in the need to control discovery costs and time during new drug development. Drug development is a time-consuming, complex, and expensive process, necessitating the use of different technologies in the search for new drugs.

In vivo and in vitro approaches, which are both expensive and time-consuming, are extensively used in drug discovery and development. Artificial intelligence is playing a major role in drug discovery, which might save a lot of time and money. As a result, the market is predicted to increase throughout the forecast period. The increasing public, as well as private investments in AI in genomics, are driving the market growth. The adoption of AI solutions in precision medicine is driving the growth of this market.

However, the lack of a skilled AI workforce and ambiguous regulatory guidelines for medical software are anticipated to restrain the Artificial Intelligence In Genomics Market growth during the forecast period. Furthermore, various governments have made significant investments in the science of genomics in recent years. This is a lucrative growth opportunity for the market. These investments have aided the development of new technologies significantly. The Department of Biotechnology, for instance, initiated the Genome India Project (GIP) in January 2020. (DBT). The goal of this research is to acquire 10,000 genetic samples from Indians.

Global Artificial Intelligence In Genomics Market Segmentation Analysis

The Global Artificial Intelligence In Genomics Market is segmented on the basis of Offering, Technology, Functionality, and Geography.

Artificial Intelligence In Genomics Market, By Offering

• Software
• Services

Based On Offering, The market is segmented into Software and Services based on Offerings. AI may be implemented as software or tools that can mimic human intelligence in certain contexts and even exceed it in others. Researchers are turning to artificial intelligence and machine learning to identify meaningful patterns in genetic data as the complexity of the data increases.

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Artificial Intelligence In Genomics, By Technology

• Machine Learning
• Computer Vision

Based On Technology, The market is segmented into Machine Learning and Computer Vision. In 2019, the machine learning segment dominated this market, with pharmaceutical companies, contract research organizations, and biotechnology companies adopting machine learning for drug genomics applications. This is owing to the fact that machine learning can extract insights from large data sets, therefore accelerating genomic research.

Artificial Intelligence In Genomics Market, By Functionality

• Genome Sequencing
• Gene Editing
• Gene Mapping

Based On Functionality, The market is segmented into Genome Sequencing, Gene Editing, and Gene Mapping. Advancement in the field of gene therapy is expected to replace traditional surgeries and drugs. This will allow healthcare providers to treat a disorder by inserting a gene into the cell of their patients. Gene editing is both a delicate and powerful discovery. It’s been a topic of contention, speculation, and, despite imperfections, excitement, and innovation for a long time.

Artificial Intelligence In Genomics Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of regional analysis, The Global Artificial Intelligence In Genomics Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America held the largest share of AI in the genomics market in 2019, followed by Europe. Increased government initiatives and research funding for promoting precision medicines in the United States are responsible for North America’s largest share.

Key Players

The “Global Artificial Intelligence In Genomics Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are IBM (US), Microsoft (US), NVIDIA Corporation (US), Deep Genomics (Canada), BenevolentAI (UK), Fabric Genomics Inc. (US), Verge Genomics (US), Freenome Holdings, Inc. (US), MolecularMatch Inc. (US), and Cambridge Cancer Genomics (UK). The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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