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Strong Growth Ahead: AI In Bioinformatics Market Size To Grow At Arecord 43.9% Cagr By 2029
AI In Bioinformatics
How Big Is the AI In Bioinformatics Market Size Expected to Be by 2034?
The market size of AI in bioinformatics has witnessed remarkable growth over the past few years and is projected to increase from $4.3 billion in 2024 to $6.18 billion in 2025, reflecting a Compound Annual Growth Rate (CAGR) of 43.8%. The significant growth during the historical timeframe is due to factors such as enhanced availability of genomic data, the emergence of precision medicine, requirement for biomarker discovery, improvement in clinical trials, and heightened levels of collaboration.
In the coming years, the AI in bioinformatics sector is predicted to undergo rapid expansion. It's expected to reach a value of $26.46 billion by the year 2029, with an impressive compound annual growth rate (CAGR) of 43.9%. This accelerated development during the predicted period is associated with the proliferation of single-cell technologies, enhanced focus on the integration of multi-omics, an increased emphasis on functional genomics, speedier drug repurposing, and a heightened adoption of AI in pathology. Looking forward, the key trends to watch out for include ethical AI usage and responsible data handling, virtual laboratories powered by AI, the incorporation of quantum computing, AI-driven clinical trial advancements, and using blockchain for secure data exchange.
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What Are the Emerging Segments Within the AI In Bioinformatics Market?
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
Subsegments:
1) By Machine Learning: Supervised Learning Algorithms, Unsupervised Learning Algorithms, Reinforcement Learning
2) By Deep Learning: Neural Networks, Natural Language Processing Models, Generative Adversarial Networks (GANs)
3) By Other Types: Statistical Models, Evolutionary Algorithms, Fuzzy Logic Systems
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What Long-Term Drivers Are Shaping AI In Bioinformatics Market Trends?
The rise in clinical trials is anticipated to spur the expansion of AI in the bioinformatics market. Clinical trials are meticulously planned medical research studies involving human subjects that are conducted to assess the safety and effectiveness of novel medical procedures, treatments, drugs, and therapeutic tactics. AI in bioinformatics is utilized in clinical trials to scrutinize patient data gathered from electronic health records and other sources, in order to spot potential clinical trial candidates that fulfill certain criteria, thereby enhancing the recruitment process and targeting. For example, as reported in May 2023 by Xtalks, a life science and medical device platform based in Canada, there were 452,604 clinical trials registered worldwide on ClinicalTrials.gov as of May 2023, and 64,838 of the total number of studies registered are actively looking for participants. Furthermore, the number of trials registered has seen a notable rise from over 365,000 reported at the start of 2021. Consequently, the escalating number of clinical trials is fueling the expansion of AI in the bioinformatics market.
Who Are the Top Competitors in Key AI In Bioinformatics Market Segments?
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.
What AI In Bioinformatics Market Trends Are Gaining Traction Across Different Segments?
Key players in the AI in bioinformatics industry are progressively innovating on the Bionl.AI platform, ushering in technological advances to ramp up their market profitability. Bionl.AI functions as a comprehensive workspace for carrying out exploration, performing analysis, and enabling visualization, drastically reducing the time needed to carry out intricate tasks from several days to mere minutes. For instance, Bionl Inc., a biomedical and bioinformatics research establishment based in the US, introduced Bionl.AI in October 2023. This groundbreaking platform is designed to transform the landscape of biomedical and bioinformatics research by offering a simplified, no-code solution that allows researchers, students, and professionals to delve into biomedicine through natural language queries. State-of-the-art GenAI models are utilized by the platform to provide immediate insights and simplify complex analysis, making it engaging and easily accessible.
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Which Regions Are Becoming Hubs for AI In Bioinformatics Market Innovation?
North America was the largest region in the AI in bioinformatics market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AI In Bioinformatics Market?
2. What is the CAGR expected in the AI In Bioinformatics Market?
3. What Are the Key Innovations Transforming the AI In Bioinformatics Industry?
4. Which Region Is Leading the AI In Bioinformatics Market?
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