The AI in Genomics Market is estimated to be valued at US$ 1.15 Bn in 2022 and is expected to exhibit a CAGR of 50.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Artificial intelligence (AI) in genomics leverages machine learning and deep learning techniques to analyze large datasets in genomics. It helps in sequence alignment, variant calling, predicting protein structure, and interaction of proteins. AI tools are used for precision medicine and drug development in genomics. The increasing investments by biotechnology and pharmaceutical companies in genomics and rising adoption of AI in healthcare is fueling the growth of the AI in genomics market.
Key Takeaways
The global Artificial Intelligence (AI) in Genomics Market is expected to witness high growth, exhibiting CAGR of 50.1% over the forecast period, due to increasing focus on integrating AI capabilities for crucial genomics applications and the declining costs of genetic sequencing.
Regional analysis shows North America currently dominates the market, accounting for around 40% share due to considerable investments in AI and genomic research. However, Asia Pacific is emerging as the fastest growing region due to rising genomics initiatives, healthcare spending and focus on precision medicine in countries like China, Japan and India.
Key players operating in the AI in genomics market are Fabric Genomics, International Business Machines, MICROSOFT, NVIDIA, AI Therapeutics, Ares Genetics, Benevolent AI, Deep Genomics, DIPLOID and among others. These major players are focusing on partnerships, new product launches and expanding access to genetic datasets to strengthen their market position.
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