Chicago, July 24, 2023 (GLOBE NEWSWIRE) -- In the near future, the genomics industry is set to undergo a transformative revolution driven by the rapid integration of Artificial Intelligence (AI) technologies. AI will play a pivotal role in advancing various aspects of genomics research, diagnosis, and treatment, leading to groundbreaking discoveries and personalized medicine. With the ability to process vast volumes of genomic data quickly and accurately, AI algorithms will enhance our understanding of complex genetic patterns and their correlations with diseases, unlocking new insights into human biology. AI-powered predictive models will enable more precise risk assessments for various genetic conditions, facilitating early disease detection and prevention. Moreover, AI-driven drug development platforms will expedite the identification of novel therapeutic targets, leading to the creation of highly targeted and effective treatments. As AI becomes an indispensable tool for genomics, its potential to revolutionize the field is boundless, offering tremendous opportunities to improve human health and revolutionize healthcare as we know it.
AI In Genomics market in terms of revenue was estimated to be worth $0.5 Billion in 2023 and is poised to reach $2.0 Billion by 2028, growing at a CAGR of 32.3% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Factors such as need to accelerate processes and timeline and reduce drug development and discovery costs, increasing partnerships and collaborations among players and growing investments in AI in genomics primarily drive the growth of this market. Furthermore, rising adoption of AI in precision medicine, explosion in bioinformatics data and genomic datasets drive market growth.
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AI In Genomics Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $0.5 Billion |
| Estimated Value by 2028 | $2.0 Billion |
| Growth Rate | Poised to grow at a CAGR of 32.3% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Offering, Technology, Functionality, Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Focus on developing human-aware AI systems |
| Key Market Drivers | Need to accelerate processes and timeline and reduce drug development and discovery costs |
AI In Genomics market major players covered in the report, such as:
- NVIDIA Corporation (US)
- Microsoft Corporation (US)
- Google Inc. (US)
- Intel Corporation (US)
- BenevolentAI (UK)
- SOPHiA GENETICS (Switzerland)
- Illumina Inc. (US)
- Predictive Oncology Inc. (US)
- Invitae Corporation (US)
- Deep Genomics Inc. (Canada)
- Fabric Genomics Inc. (US)
- Verge Genomics (US)
- Freenome Holdings Inc. (US)
- MolecularMatch Inc. (US)
- Dante labs (US)
- Data4Cure (US)
- PrecisionLife Ltd (UK)
- Genoox (US)
- Lifebit (UK)
- FDNA Inc. (US)
- DNAnexus (US)
- Engine Biosciences (US)
- Tempus Labs Inc. (US)
- Congenica Ltd (England)
- Emedgene Inc. (US)
- Seragon Pharmaceuticals Inc. (US)
- and Among Others
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This research report categorizes the global artificial intelligence (AI) in genomics market by offering, technology, functionality, application, end user, and region
On the basis of offering, the global artificial intelligence (AI) in genomics market has been segmented as follows:
- Software
- Services
On the basis of technology, the global artificial intelligence (AI) in genomics market has been segmented as follows:
- Machine Learning
- Deep Learning
- Supervised Learning
- Reinforcement Learning
- Unsupervised Learning
- Other Machine Learning Technologies
- Other Technologies
On the basis of functionality, the global artificial intelligence (AI) in genomics market has been segmented as follows:
- Genome Sequencing
- Gene Editing
- Clinical Workflow
- Predictive Genetic Testing & Preventive Medicine
On the basis of application, the global artificial intelligence (AI) in genomics market has been segmented as follows:
- Diagnostics
- Drug Discovery & Development
- Precision Medicine
- Agriculture & Animal Research
- Other Applications
On the basis of end user, the global artificial intelligence (AI) in genomics market has been segmented as follows:
- Pharmaceutical & Biotechnology Companies
- Hospitals & Healthcare Providers
- Research Centers, Academic Institutes, & Government Organizations
- Other End Users
On the basis of region, the global artificial intelligence (AI) in genomics market has been segmented as follows:
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Rest of Europe
- Asia Pacific
- Rest of the World
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The key stakeholders in the AI In Genomics market include:
- Artificial intelligence (AI) in genomics solution providers
- Platform providers
- Technology providers
- AI system providers
- Medical research and biotechnology companies
- Pharmaceutical companies and CROs
- Hospitals and clinics
- Universities and research organizations
- Forums, alliances, and associations
- Academic research institutes
- Healthcare institutions
- Laboratories
- Distributors
- Venture capitalists
- Government organizations
- Institutional investors and investment banks
- Investors/Shareholders
- Consulting companies in the genomics sector
- Raw material and component manufacturers
- Non-profit organizations (NPOs)
- Agri-genomics organizations
- Direct-to-consumer genetic companies
Frequently Asked Questions (FAQs) of AI In Genomics Market:
Q1. What is the total market value of AI In Genomics Market report?
Q2. Which are the top companies holding the market share in AI In Genomics Market?
Q3. Which are the largest regions for this Market?
Q4. What is the leading technology of AI In Genomics Market?
Q5. What are the major drivers for this specific Market?
Q6. What are the upcoming key trends in the AI In Genomics Market report?
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Recent Developments:
- In December 2022, Intel Labs and the Perelman School of Medicine at the University of Pennsylvania (Penn Medicine) completed of a joint research study using distributed machine learning (ML) and artificial intelligence (AI) approaches to help international healthcare and research institutions identify malignant brain tumors.
- In September 20222, 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 (GATK).
- In August 2021, Illumina, Inc. acquired GRAIL to provide patients with access to a potentially life-saving multi-cancer early-detection test.
- In March 2021, SOPHiA GENETICS collaborated with Hitachi. This collaboration agreement offered clinical, genomic, and real-world insights to healthcare practitioners and pharmaceutical and biotechnology firms and to further democratize Data-Driven Precision Medicine internationally for the benefit of patients.
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NGS-based RNA-sequencing Market
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