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Artificial Intelligence in Genomics Market Analysis of Increasing Demand for Personalized Medicine and the Role of AI in Interpreting Complex Genomic Data
Artificial Intelligence in Genomics Market
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 growth of the artificial intelligence (AI) market in healthcare is being driven by several key factors, including the high prevalence of chronic and genetic diseases, expanding research and development activities for AI technologies, and the increasing application of AI and machine learning in genomics.
Additional growth drivers include the rising adoption of AI by pharmaceutical companies for drug discovery and research, growing demand for personalized medicine, heightened awareness among researchers regarding AI tools, and the need to leverage patient data for developing effective treatments. The expanding patient population is generating larger volumes of healthcare data, creating challenges in data management and analysis, which further underscores the demand for AI solutions in genomics.
However, market adoption may be constrained during the forecast period due to limited understanding of AI applications and a shortage of skilled professionals proficient in AI technologies.
From a regional perspective, North America accounted for the largest market share in 2020, followed by Europe, supported by increasing R&D initiatives aimed at advancing 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, 2020-2030 (Value US$ Mn)
• Software
• Services
Global Artificial Intelligence in Genomics Market, by Applications, 2020-2030 (Value US$ Mn)
• Diagnostics
• Drug Discovery & Development
• Precision Medicine
• Agriculture & Animal Research
• Other Applications
Global Artificial Intelligence in Genomics Market, by Technology, 2020-2030 (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, 2020-2030 (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, 2020-2030 (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, 2020-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Artificial Intelligence in Genomics Market, by Country, 2020-2030 (Value US$ Mn)
• The U.S.
• Canada
Europe Artificial Intelligence in Genomics Market, by Country, 2020-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Artificial Intelligence in Genomics Market, by Country, 2020-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Artificial Intelligence in Genomics Market, by Country, 2020-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Artificial Intelligence in Genomics Market, by Country, 2020-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
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