AI in Omics Studies Market Projected to Reach US$ 5.4 Billion by 2031, Spurred by AI's Role in Drug Development and Disease Diagnostics

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Al in Omics Studies Market- (By Offering (Software, Services), By Technology Platform (Sequencing, Epigenomics, Proteomics, Metabolomics, Others), By Application (Oncology, Infectious Diseases, Neurology, Cardiovascular Diseases, Immunology, Others), By End User (Academic and Research Institutes, Biopharmaceutical Company, Others)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Al in Omics Studies Market is valued at US$ 633.46 Mn in 2023, and it is expected to reach US$ 5,445.6 Mn by 2031, with a CAGR of 31.2% during the forecast period of 2024-2031.

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Artificial intelligence (AI) has emerged as a powerful tool for addressing complex challenges in the processing, analysis, and interpretation of omics data, as well as in integrating multi-omics and clinical data. In recent years, AI has made significant advancements across several scientific disciplines, including drug development, disease diagnostics, protein structure prediction, and the interpretation of genetic variants. The market for AI in omics research is experiencing steady growth and is projected to expand considerably over the forecast period. A key driver of AI's adoption in omics studies is its ability to process large and complex omics datasets. AI techniques facilitate the identification of patterns within omics data, the prediction of biomarkers, and the generation of new biological insights. Industry growth is further fueled by increased investments in AI technology and supportive regulatory environments. These factors are collectively shaping the future of precision healthcare and driving the adoption of AI applications in omics research. Consequently, AI holds the potential to transform both omics studies and the broader healthcare sector, contributing to the global expansion of the AI in omics research market.

List of Prominent Players in the Al in Omics Studies Market
• Thermo Fisher Scientific.
• Agilent Technologies
• Illumina
• BGI Genomics
• Dassault Systemes
• Qiagen
• Waters Corporation
• GE Healthcare
• Amazon Web Services, Inc
• Bruker
• Danaher
• Other Prominent Players

Market Dynamics:
Drivers-
One of the primary drivers of the AI in omics studies market is its substantial potential to transform genomics research and healthcare. The increasing prevalence of AI in omics research is attributed to several key factors. First, as omics data continues to expand in both volume and complexity, there is a heightened demand for advanced analytical tools capable of processing and extracting meaningful insights from such data. AI excels in this capacity, offering enhanced capabilities for data analysis. Second, the growing emphasis on personalized medicine and targeted therapies necessitates AI-driven approaches for the identification of biomarkers and the development of novel drugs. Finally, collaborations between academic institutions, industry leaders, and medical organizations are fostering innovation and accelerating the adoption of AI technologies in omics research.

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Challenges:
The primary challenges faced by the AI in omics studies sector include concerns surrounding data privacy and security. These issues could potentially hinder market growth, along with the lack of qualified AI professionals and the existence of a stringent regulatory framework. The increasing demand for AI across sectors such as genomics poses significant challenges due to the limited availability of skilled professionals proficient in AI, which obstructs the expansion of the market. Additionally, the complexity of AI technologies, particularly in the genomics field, requires a specialized skill set that remains underdeveloped, hindering the seamless integration of AI into genomics processes and slowing progress in the field. Furthermore, the adoption and application of AI in genomics are further complicated by strict regulations governing data security, privacy, and ethical considerations.

Regional Trends:
As of 2023, North America dominated the global AI in omics market, holding a substantial share of the market revenue. This is primarily due to the presence of numerous prominent industry players, such as Google Health, Danone, Abbott, Nestlé, IBM, and Targeted Medical Pharma, Inc., among others. North America is home to some of the world's most influential and well-funded research institutes and biotechnology firms, all of which are actively investing in the development of AI-powered genomics solutions. This investment is propelling the growth of AI in genomics within the region. On the other hand, the Asia-Pacific region is expected to witness significant growth in the AI in genomics market, driven by its large population, increasing focus on precision medicine and genomics technology, and rapidly rising healthcare costs, all of which are fueling the demand for AI-based solutions in genomics.

Recent Developments:
• In November 2023, biotechnology companies OWKIN and 10x Genomics, Inc., jointly announced that they have reached an agreement to incorporate 10x Genomics' single-cell and spatial omics technologies to their work in tumour investigation for potential therapeutic targets.
• In September 2023, Janssen Global Services, LLC, a pharmaceutical firm, and Intelligent OMICS Ltd., a biotechnology company, agreed to a partnership in AI-driven research. The goal of the partnership with Janssen Global Services, LLC is to identify new biological targets that can be used to treat haematological malignancies.
• in June 2022, the Ultima Genomics firm and Nvidia announced that they are partnering to separate AI at various stages of the DNA sequencing and analysis process. Accelerating variant calling and deep learning in photometry and base calling are two aspects of the relationship.

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Segmentation of Al in Omics Studies Market -
By Offering:
• Software
• Services
By Technology Platform:
• Sequencing
• Epigenomics
• Proteomics
• Metabolomics
• Others (Transcriptomics, among others)
By Application:
• Oncology
• Infectious Diseases
• Neurology
• Cardiovascular Diseases
• Immunology
• Others (Pharmacogenomics, among others)
By End User:
• Academic and Research Institutes
• Biopharmaceutical Company
• Others (Contract Research Organizations, among others)
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.