HealthcareAugust 28, 2023

Global Artificial Intelligence in Genomics Market

As stated in our extensive report, the Global Artificial Intelligence in Genomics Market accounted for USD 0.45 Billion in 2022 and is projected to reach a value of USD 5.5 Billion by 2030.

The significant factor driving the growth of the Artificial Intelligence in Genomics market is the rise of precision medicine and the demand for personalized medicine, both of which are driving the demand for sophisticated analytical tools capable of processing enormous amounts of genomic data. Utilizing AI-based tools enables clinicians to provide personalized treatments for a variety of diseases by enabling faster and more accurate genetic analysis. Second, as big data has become more prevalent in genomics, there is a greater demand for scalable, effective computational algorithms that can handle the analysis of huge datasets. AI-powered tools provide the processing power to sift through massive amounts of data and offer predictive insights, which are essential for finding patterns and creating new treatments. Thirdly, platforms that use AI for predictive modeling and drug design have been developed due to the increased focus on drug discovery and development. These platforms enable scientists to shorten lead times and hasten the development of new drugs. The ability of AI systems to comprehend, learn, and interpret complex molecular data has also been made possible by advancements in machine learning and natural language processing, which makes it simpler for researchers to correctly analyze and interpret genomic data. These important factors will keep the Artificial Intelligence in Genomics market growing.

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Key factors influencing Artificial Intelligence in Genomics Market Growth

The growth of the global Artificial Intelligence in Genomics market can be attributable to the following:1. The significantly large datasets can now be handled more easily by modern computational technology, allowing for the creation of sophisticated algorithms for useful inferences in genomics. This has sparked the rapid development of AI in genomics, enabling the highly accurate and precise extraction of insightful knowledge and intelligence from biological data. As a result, the healthcare sector can use these AI-enabled genomics tools to speed up diagnosis, personalize therapy, and increase access to and affordability of healthcare.

  1. The discovery of biological data has exploded, offering a rich resource for AI applications in genomics. AI and machine learning offers the foundation for deeper data exploration for enormous data sets like the human genome, resulting in priceless insights that influence treatment, diagnosis, and cure. Additionally, this allows for significant advancements in medical research and the creation of therapies and diagnostic tools that have a potential market value of trillions of dollars.
  2. AI and genomics tools will be at the forefront of delivering personalized/precision medicine solutions as researchers and healthcare professionals look at holistic healthcare solutions rather than a one-size-fits-all approach. The growing emphasis on this strategy will help AI in genomics advance the field by connecting complex patient data with useful protocols that improve patient and healthcare professional outcomes over the long term.
  3. A vital tool for practitioners and researchers to identify potential health risk factors in patients is the integration of EMRs with AI applications in genomics. An AI-enabled patient data interface can help medical institutions make better decisions regarding population health priorities, treatment outcomes, and cost-effectiveness. Making informed decisions and examining trends in the vast patient data is made possible by the integration of AI in genomics, health data visualizations, and EMRs.

North America Region to Lead the Market

North America Artificial Intelligence in Genomics market is getting more notable, with the highest market sales during the forecast period. This is mainly because top tech companies like IBM, Microsoft, and Google are very prevalent in the US. Additionally, the area has built a strong infrastructure to support AI technology research and development. These businesses have been involved in creating cutting-edge AI-based solutions for the genomics sector, including instruments for analyzing massive genomics data sets, streamlining drug discovery, and automating lab procedures. Additionally, it is anticipated that rising demand for personalized medicine in North America will propel market expansion. An aging population in the area necessitates better healthcare services, which AI technologies can provide. The region’s market is anticipated to grow as a result of the rising number of initiatives by both public and private organizations, including government-funded genomics programs like the Precision Medicine Initiative in the US. Additionally, it is expected that over the forecast period, the AI in the genomics market in North America will be driven by these companies’ increased focus on enhancing healthcare services as well as developments in genomics and AI technologies.

Conclusion

The overall Artificial Intelligence in Genomics Market sales have been favorably impacted by advancements in computational technology, increased demand for personalized/precision medicine, and technological integration with electronic medical records (EMRS)

The well-known players of the Global Artificial Intelligence in Genomics Market include Microsoft Corp. (U.S.), NVIDIA Corp. (U.S.), Deep Genomics Incorporated (Canada), Fabric Genomics Inc. (U.S.), Data4Cure Inc. (U.S.), Predictive Oncology Inc. (U.S.), Emedgene Technologies Ltd. (U.S.), Congenica Ltd. (UK) and others.