Press release
Artificial Intelligence in Genomics Market Future Trends and Scope Analysis Report
Artificial intelligence is crucial in genomics for developing and innovating effective medications and treatments for curing various diseases. In addition, it improves the interpretability of genomic data and the overall effectiveness of the analysis and development process.
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The high prevalence of chronic & genetic diseases, growing R&D activities for the development of AI technologies, increasing use of AI and machine learning applications in genomics, rising adoption of AI in pharmaceutical companies for drug development and research activities, increased demand for personalized medicine, rising awareness among researchers regarding the AI applications and tools, and the need to analyze the patients' data using AI to innovate effective treatments are all factors that are driving the growth of the artificial intelligence (AI) market in healthcare. The expanding patient population increases the volume of healthcare data, making its management and analysis more challenging. This increase in data fuels the demand for artificial intelligence in genomics.
During the forecast period, market adoption is anticipated to be hampered by a lack of understanding of AI applications and a shortage of AI-skilled workers.
Geographically, North America held the largest market share in 2020, followed by Europe due to increasing R&D initiatives to promote precision medicine.
Major market players operating in the artificial intelligence in genomics market include AI Therapeutics (US), Inc., Ares Genetics GmbH (Austria), BenevolentAI (UK), BioSymetrics (US), Cambridge Cancer Genomics (UK), Clover Therapeutics (US), Congenica Ltd (UK), CureMatch, Inc. (the US), Cyclica Inc. (Canada), Data4Cure, Inc. (the US), Deep Genomics (Canada), Desktop Genetics Ltd. (UK), Diploid (Belgium), DNAnexus (US), FDNA Inc. (US), Freenome Holdings, Inc. (the US), Genoox, Ltd. (US), IBM (US), MolecularMatch Inc. (US), NVIDIA Corporation (US) among others.
Some of the key developments in the market are as follows:
• In September 2021, Deep Genomics (Canada), a leading AI therapeutics company, collaborated with Mila, the Quebec Artificial Intelligence Institute. This collaboration allows the company to take advantage of the recruitment activities offered by Mila research institute. Deep Genomics uses AI and machine learning to program and prioritize transformational therapeutics for genetic diseases.
• In December 2018, BioSymetrics, Inc. (US), a company engaged in computational biology, launched Augusta, a pre-processing and analytics platform. Augusta is a proprietary technology that facilitates the rapid deployment of AI projects in precision medicine, drug discovery, and health data applications.
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Market Segments
Global Artificial Intelligence in Genomics Market, by Offering, 2024-2031 (Value US$ Mn)
• Software
• Services
Global Artificial Intelligence in Genomics Market, by Applications, 2024-2031 (Value US$ Mn)
• Diagnostics
• Drug Discovery & Development
• Precision Medicine
• Agriculture & Animal Research
• Other Applications
Global Artificial Intelligence in Genomics Market, by Technology, 2024-2031 (Value US$ Mn)
• Machine Learning
• Deep Learning
• Supervised Learning
• Reinforcement Learning
• Unsupervised Learning
• Other Machine Learning Technologies
• Other Technologies
Global Artificial Intelligence in Genomics Market, by Functionality, 2024-2031 (Value US$ Mn)
• Genome Sequencing
• Gene Editing
• Clinical Workflows
• Predictive Genetic Testing & Preventive Medicine
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Global Artificial Intelligence in Genomics Market, by End-Users, 2024-2031 (Value US$ Mn)
• Pharmaceutical & Biotech Companies
• Healthcare Providers
• Research Centers, Academic Institutes & Government Organizations
• Other End-Users
Global Artificial Intelligence in Genomics Market, by Region, 2024-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Artificial Intelligence in Genomics Market, by Country, 2024-2031 (Value US$ Mn)
• The U.S.
• Canada
Europe Artificial Intelligence in Genomics Market, by Country, 2024-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Artificial Intelligence in Genomics Market, by Country, 2024-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Artificial Intelligence in Genomics Market, by Country, 2024-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Artificial Intelligence in Genomics Market, by Country, 2024-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
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