AI In Genomics Market on Track for Strong Growth, Estimated to Grow at 44.2% CAGR Through 2029

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What Is the Expected CAGR for the AI In Genomics Market Through 2025?
The market size for AI in genomics has experienced rapid growth in the past few years. It is expected to increase from a worth of $1.06 billion in 2024 to $1.51 billion in 2025, with a compound annual growth rate (CAGR) of 41.9%. This significant growth during the historic period is due to factors like improvements in genomic sequencing, issues in data management, a surge in demand for personalized medicine, a better comprehension of diseases and their diagnosis, and advancements in drug discovery and development.

What's the Projected Size of the Global AI In Genomics Market by 2029?
The market of AI in genomics is predicted to experience a substantial rise in the upcoming years. The valuation is projected to reach $6.52 billion by 2029, expanding at a compound annual growth rate (CAGR) of 44.2%. The predicted market growth within the forecast period is largely attributed to factors such as the growth of genomic databases, superior genomic data security, utilization of AI for biomarker discovery, integration with other 'omics' data, and focus on patient education and empowerment. Some major trends coming to light during the forecast period encompass AI's role in cancer genomics, enhanced genomic imaging due to AI, AI-facilitated biomarker discovery, integrating genomic data across various healare systems, and the application of AI in functional genomics research.

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Top Growth Drivers in the AI In Genomics Industry: What's Accelerating the Market?
The increasing use of AI is anticipated to fuel the expansion of the AI in genomics market. Artificial intelligence, a field that harnesses computer science and copious data sets to deal with challenges, encompasses machine learning and deep learning, often invoked when discussing artificial intelligence. AI in genomics contributes to the detection of genetic diseases, the prime kind of cancer, estimating the course of certain illnesses in patients, pinpointing disease-provoking genomic changes, and advancing the performance of gene modifying tools. Owing to these advantages, the demand for artificial intelligence in genomics is growing. For example, in May 2022, a report by US technology corporation, International Business Machines Corporation (IBM), disclosed a significant global adoption rate of AI increase to 35%, a four percent rise from the year before. Moreover, in May 2023, a report by the Australian government agency, Commonwealth Scientific and Industrial Research Organization (CSIRO), revealed that 68% of Australian businesses already utilize artificial intelligence technologies, and an extra 23% plan to adopt them in the coming year. Consequently, this rising adoption of AI is facilitating the growth of the AI in genomics market.

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What Trends Will Shape the AI In Genomics Market Through 2029 and Beyond?
The significant rise of technological innovations is an emerging trend in the AI in genomics market, with leading businesses aiming at inventing advanced technological solutions to consolidate their market presence. Case in point, Genomic Vision, a biotech firm based in France that focuses on the creation of diagnostic solutions for genetic diseases and cancers, unveiled its FiberSmart, an AI-driven software in March 2023. This software facilitates the visualization and detailed analysis of lengthy DNA fibers. It could potentially revolutionize the approach towards diagnosing and treating genetic disorders. The main purpose of its inception was to enhance the accuracy and efficiency of diagnosis and treatment procedures for genetic diseases. It employs the technology to scrutinize massive data volumes, discovering patterns and insights that would be beyond human ability to detect independently.

What Are the Main Segments in the AI In Genomics Market?
The ai in genomicsmarket covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Technology: Machine Learning, Computer Vision
3) By Functionality: Genome Sequencing, Gene Editing, Other Functionalities
4) By Application: Drug Discovery And Development, Precision Medicine, Diagnostics, Other Applications
5) By End-Use: Pharmaceutical And Biotech Companies, Healare Providers, Research Centers, Other End-Users

Subsegments:
1) By Hardware: Servers, Storage Devices, Networking Equipment
2) By Software: Data Analysis Software, Machine Learning Algorithms, Visualization Tools, Genomic Data Management Software
3) By Services: Consulting Services, Integration Services, Support And Maintenance, Data Analytics Services

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Which Top Companies are Driving Growth in the AI In Genomics Market?
Major companies operating in the AI in genomics market include International Business Machines Corporation, Microsoft Corp., NVIDIA Corporation, Deep Genomics Inc., BenevolentAI Ltd., Fabric Genomics Inc., Verge Genomic Inc., Freenome Holdings Inc., MolecularMatch Inc., SOPHiA GENETICS SA, Data4Cure Inc., PrecisionLife Ltd., Genoox Ltd., Lifebit Ltd., Empiric Logic Ltd., FDNA Inc., DNAnexus Inc., Engine Biosciences Pte Ltd., 4baseCare, Congenica Ltd., CytoReason Ltd., Emedgene Technologies LTD, Illumina Inc., Lifebit Biotech Ltd., Mendel.ai, Predictive Oncology Inc., Tempus Labs Inc., 10x Genomics Inc., Repositive Limited, Genedata AG, Global Gene Corp, Nference Inc., Bluebee Holding B.V., Genomenon Inc.

Which Regions Will Dominate the AI In Genomics Market Through 2029?
North America was the largest region in the AI in genomics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the AI in the genomics market report during the forecast period. The regions covered in the AI in genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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