Artificial Intelligence in Genomics Market Size, Share, Growth, And Industry Analysis by Type (Machine Learning, Computer Vision) by Downstream Industry (Pharma, Research) and Regional Forecast to 2032

Updated On: 04 November 2024

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ARTIFICIAL INTELLIGENCE IN GENOMICS MARKET REPORT OVERVIEW

The Artificial Intelligence in Genomics Market Size is Projected to be worth US$ 296.7 Million in 2023, Market is likely to Surpass US$ 10855.42 Million by 2032 at a CAGR of 43.33% During the Forecast period [2024-2032].

The artificial intelligence in genomics market is unexpectedly evolving, driven with the aid of advances in technology and the increasing availability of genomic information. AI technology, which includes gadget gaining knowledge of and deep getting to know, are remodeling genomics by enabling more efficient information analysis, accelerating the identification of genetic editions, and enhancing predictive modeling. These competencies are pivotal in areas inclusive of personalized medicine, drug discovery, and disorder prognosis. The integration of AI in genomics is streamlining the interpretation of complex genomic datasets, main to quicker and extra accurate insights. Market increase is fueled via collaborations between tech organizations and healthcare carriers, elevated investment in biotech studies, and the growing call for precision medicine.

COVID-19 Impact: Pandemic’s Supply Chain Disruptions Led to Temporary Shortages of Products

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has negatively impacted the artificial intelligence in genomics market growth normally via disruptions in studies and improvement sports. The reallocation of sources and investment towards pressing COVID-19 research has bogged down projects in other genomic fields. Laboratory closures and restrictions on employee’s movement have not on time experimental timelines and facts collection efforts. Supply chain interruptions have additionally affected the supply of crucial device and reagents. Additionally, the monetary downturn due to the pandemic has caused decreased funding in biotech startups and AI-pushed genomics tasks. The recognition on the spot pandemic-related fitness challenges has overshadowed long-term studies priorities, impacting innovation and collaboration within the genomics zone. Despite these demanding situations, the pandemic has underscored the significance of AI and genomics, doubtlessly using destiny investments and improvements once the immediately disaster is managed.

LATEST TRENDS

"Integration of AI with CRISPR Technology for Enhanced Gene Editing Helps Market to Grow"

One latest trend in the artificial intelligence in genomics market is the integration of AI with CRISPR generation to beautify gene enhancing abilities. AI algorithms are being utilized to improve the precision and performance of CRISPR-based totally gene modifying by predicting the handiest manual RNA sequences and minimizing off-goal outcomes. This synergistic approach is accelerating the development of gene treatment options and customized medicine, making an allowance for extra accurate corrections of genetic mutations and tailoring remedies to man or woman patients' genetic profiles. The combination of AI and CRISPR holds good sized promise for advancing genomic studies and therapeutic programs, marking a pivotal step towards greater sophisticated and reliable gene-modifying techniques.

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ARTIFICIAL INTELLIGENCE IN GENOMICS MARKET SEGMENTATION

By Type

Depending on artificial intelligence in genomics market given are types machine learning, computer vision. 

• Machine Learning: Machine getting to know in genomics entails using algorithms to investigate large units of genetic facts, figuring out patterns, and making predictions approximately gene features and interactions. This method complements the ability to diagnose sicknesses, discover new drug targets, and understand complex genetic traits.

• Computer Vision: Computer imaginative and prescient in genomics applies picture analysis strategies to visualize and interpret biological data, consisting of figuring out structural versions in chromosomes from microscopy snap shots. This technology aids in as it should be detecting genetic abnormalities and know-how spatial patterns within genomic statistics.

By Downstream Industry

The market is divided into pharma, research.

• Pharma: In the pharma sector, AI in genomics is utilized to expedite drug discovery and development by using identifying genetic targets and predicting drug responses. This integration enables create more powerful, personalized medications, reducing the time and cost worried in bringing new pills to market.

• Research: In the research sector, AI in genomics helps instructional and scientific research via enabling the analysis of complex genetic statistics sets. Researchers use AI to discover new genetic insights, recognize sickness mechanisms, and broaden modern remedies and diagnostic equipment.

DRIVING FACTORS

"Increasing Volume of Genomic Data Drives the Market "

The exponential increase in genomic data, driven by improvements in sequencing technologies, is a first-rate driving aspect for AI in genomics. As the value of sequencing decreases, extra genomic records are generated, necessitating superior analytical tools to interpret it. AI, in particular machine getting to know algorithms, is essential for managing, reading, and deriving significant insights from this widespread quantity of information. By identifying styles and correlations that are not immediately apparent, AI complements our expertise of complicated genetic facts, permitting breakthroughs in ailment analysis, personalized medicine, and the development of targeted therapies.

"Advancements in AI and Machine Learning Technologies Drives the Market "

Continuous advancements in AI and gadget mastering technology are considerably propelling the genomics market. Enhanced computational electricity, progressed algorithms, and the development of specialized AI tools tailored for genomic programs permit for more correct and efficient facts evaluation. These technologies facilitate the fast processing of large-scale genomic facts, improving the precision of genetic version identity and practical annotation. As AI and machine getting to know turn out to be more sophisticated, they permit deeper insights into genetic information, riding improvements in drug discovery, sickness prevention, and the improvement of customized clinical treatments.

RESTRAINING FACTORS

"Ethical and Privacy Concerns Surrounding Genomic Data Usage Restrains the Market Growth"

One restraining factor in the artificial intelligence in genomics market is the ethical and privacy issues surrounding using genomic facts. The integration of AI with genomics calls for the gathering and analysis of giant quantities of private genetic information, raising problems associated with statistics protection, consent, and potential misuse. Patients and research members may be cautious of sharing their genetic records because of fears of discrimination, breaches of confidentiality, and unauthorized entry.

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ARTIFICIAL INTELLIGENCE IN GENOMICS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America to Dominate the Market Due to Its Significant Investment in Research and Development"

North America is poised to play a dominant function inside the artificial intelligence in genomics market share due to its sturdy infrastructure, good sized investment in research and development, and presence of leading biotechnology and AI businesses. The United States, particularly, is at the forefront, with great investment from both public and private sectors, and numerous collaborations between academia, enterprise, and authority’s organizations. Advanced healthcare systems, a strong regulatory framework, and a high adoption fee of modern-day technology similarly contribute to North America's management in leveraging AI for genomic research, personalized medicinal drug, and progressive healing answers.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Key industry players in the artificial intelligence in genomics market consist of predominant tech and biotech groups using innovation and development. Notable players include Google DeepMind, which makes a specialty of AI-driven genomic research and predictive modeling; IBM Watson Genomics, regarded for integrating AI in most cancers genomics and personalized remedy; Illumina, leveraging AI to beautify sequencing and information interpretation; and NVIDIA, presenting AI hardware and software structures for genomic information evaluation. Other tremendous individuals are Microsoft Genomics, offering cloud-based AI solutions, and startups like BenevolentAI and Freenome, which apply AI to drug discovery and early sickness detection.

LIST OF MARKET PLAYERS PROFILED

• DNAnexus Inc (S.)
• Freenome Holdings Inc (S.)
• Genoox Ltd (Israel)
• FDNA Inc (S.)
• Lifebit (K.)
• IBM (S.)
• Fabric Genomics Inc (S.)

INDUSTRIAL DEVELOPMENT

September 2022: One industrial development in the artificial intelligence in genomics market is NVIDIA Corporation partnered with the Broad Institute of MIT and Harvard to accelerate Genome analysis workflows and help teams to co-develop large language models for the discovery and development of targeted therapies. The collaboration connects NVIDIA’s AI expertise and healthcare computing platforms with the Broad Institute’s researchers, scientists, and open platforms with a focus on Making NVIDIA Clara Parabricks available in the Terra platform, building large language models, and providing improved deep learning to Genome Analysis Toolkit.

REPORT COVERAGE

The artificial intelligence in genomics market is present process fast enlargement pushed by improvements in AI technologies and the growing availability of genomic records. AI is revolutionizing genomics through enhancing the performance and accuracy of facts analysis, accelerating discoveries in personalized medicinal drug, and improving knowledge of complicated genetic interactions. Key trends include the mixing of AI with CRISPR for advanced gene enhancing, AI-pushed predictive modeling for drug discovery, and the application of machine learning in deciphering genomic versions. Despite demanding situations along with ethical issues and regulatory hurdles, substantial investments from tech giants and biotech firms are propelling innovation. Collaborations throughout academia, enterprise, and healthcare sectors are important for leveraging AI's capacity to address global health challenges and deliver precision healthcare answers. As AI keeps to conform, its role in genomics promises to reshape medical research, disorder analysis, and treatment techniques, ushering in a new era of genomic-pushed healthcare advancements.