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AI In Bioinformatics Market Competitive And Growth Analysis 2024 | Thermo Fisher Scientific Inc., Eurofins Scientific SE, Dassault Systèmes SE, Illumina Inc.
AI In Bioinformatics Global Market Report 2024
AI In Bioinformatics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $18.35 billion In 2028 At A CAGR Of 43.8% :
The AI in bioinformatics market size has grown exponentially in recent years. It will grow from $2.97 billion in 2023 to $4.30 billion in 2024 at a compound annual growth rate (CAGR) of 44.5%. The growth in the historic period can be attributed to increased genomic data availability, rise of precision medicine, demand for biomarker discovery, clinical trial optimization, and increased collaboration.
The AI in bioinformatics market size is expected to see exponential growth in the next few years. It will grow to $18.35 billion in 2028 at a compound annual growth rate (CAGR) of 43.8%. The growth in the forecast period can be attributed to expansion of single-cell technologies, growing emphasis on multi-omics integration, rising focus on functional genomics, acceleration of drug repurposing, increasing adoption of ai in pathology. Major trends in the forecast period include ethical AI and responsible data use, AI-driven virtual laboratories, integration of quantum computing, AI-powered clinical trials, and blockchain for secure data sharing.
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AI In Bioinformatics Market Major Segments
The ai in bioinformatics market covered in this report is segmented -
1) By Type: Machine Learning, Deep Learning, Other Types
2) By Offering : Services, Software
3) By Application: Genomics, Chemoinformatics and Drug Design, Proteomics, DNA Sequencing, System Biology, Transcriptomics, Text Mining, Microarrays, Metabolomics, Other Applications
Key Driver - Rising Clinical Trial Numbers Fueling Growth of AI in Bioinformatics Market
The increasing number of clinical trials is expected to propel the growth of AI in the bioinformatics market going forward. Clinical trials refer to a systematic and carefully designed process of conducting medical research involving human participants to evaluate the safety, efficacy, and effectiveness of new medical interventions, treatments, drugs, devices, or therapeutic strategies. AI in bioinformatics is used in clinical trials to analyze patient data from electronic health records and other sources to identify potential candidates for clinical trials who meet specific criteria, improving recruitment efficiency and targeting. For instance, in May 2023, according to Xtalks, a Canada-based life science and medical device platform, on ClinicalTrials.gov, there were 452,604 clinical trials registered worldwide as of May 2023, and 64,838 of the total number of registered studies are actively seeking participants. Further, the number of registered trials has significantly increased from the over 365,000 that were reported at the beginning of 2021. Therefore, the increasing number of clinical trials is driving the growth of AI in the bioinformatics market.
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Prominent Trend - Bionl.AI Platform Revolutionizes Biomedical Research
Major companies operating in the AI in bioinformatics market are innovating technological advancements on the Bionl.AI platform to increase their profitability in the market. Bionl.AI offers an all-in-one workspace for exploration, analysis, and visualization, cutting down the time required to complete complicated tasks from days to minutes. For instance, in October 2023, Bionl Inc., a US-based biomedical and bioinformatics research platform company, launched Bionl.AI, a pioneering platform that aims to revolutionize biomedical and bioinformatics research by providing a no-code solution for researchers, students, and professionals to investigate biomedicine using natural language queries. The platform leverages state-of-the-art GenAI models to enable instant insights and make complex analysis accessible and engaging.
AI In Bioinformatics Market Players
Major companies operating in the ai in bioinformatics market report are Thermo Fisher Scientific Inc., Eurofins Scientific SE, Dassault Systèmes SE, Illumina Inc., NeoGenomics Laboratories Inc., QIAGEN N.V., SomaLogic Operating Co. Inc., Seven Bridges Genomics Inc., Genialis Inc., SOPHiA GENETICS SA, DNAnexus Inc., Insilico Medicine Inc., Deep Genomics Inc., Biomax Informatics Inc., Ardigen SA, Strand Life Sciences Pvt. Ltd., Genomenon Inc., SourceBio International Limited, Fios Genomics Limited, CelbridgeScience, BlueBee Holding BV, JADBio , Elucidata Corporation, Gnosis DA, DNASTAR Inc., iNDX.Ai , Paige AI Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the AI in bioinformatics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ai in bioinformatics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. AI In Bioinformatics Market Report Structure
3. AI In Bioinformatics Market Trends And Strategies
4. AI In Bioinformatics Market - Macro Economic Scenario
5. AI In Bioinformatics Market Size And Growth
…..
27. AI In Bioinformatics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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