Global AI in Genomics Market Report and Forecast 2024-2032

AI in Genomics Market Overview

Artificial intelligence in genomics is transforming healthcare by analyzing large genomic datasets to expedite discoveries, lower expenses, and enhance precision medicine. Major factors involve AI's influence on the efficiency of drug discovery and improved clinical processes. Trends such as the integration of AI in genome sequencing and sophisticated diagnostics are increasing demand, setting the AI in genomics industry up for strong market expansion as worldwide dependence on AI-powered solutions escalates.

AI in Genomics Market Growth Drivers

Rising Applications in Drug Discovery and Development Drives Market Growth

AI is increasingly utilized in the drug discovery process because it can optimize research, lower development expenses, and decrease timelines. Through the analysis of genomic information, AI detects possible drug targets and streamlines the development process, greatly aiding the expansion of the AI in genomics market by improving efficiency and accelerating breakthroughs in personalized medicine.

AI in Genomics Market Trends

AI in Genomics Market Segmentation

AI in Genomics Market Share

Market Segmentation Based on End User Set to Witness Substantial Growth

Based on end users, the market is divided into pharmaceutical and biotech companies, healthcare providers, research and academic institutes, and others. Among these, the pharmaceutical and biotech companies are expected to dominate the market. The market share can be attributed to an increase in combining AI and machine learning for managing clinical data, predicting diseases, and identifying biomarkers, thereby improving the efficiency of drug development. These innovations facilitate easy, more affordable research, addressing the growing need for AI in genomics and fostering its overall growth.

AI in Genomics Market Analysis by Region

Regionally, the market report offers an insight into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Among these, North America, with a strong healthcare system and leading healthcare companies, is projected to hold a substantial market share.
In the forecast period, the Asia Pacific region is expected to witness significant expansion. This can be attributed to heightened spending aimed at enhancing healthcare facilities and addressing varied patient needs. Due to the availability of skilled healthcare professionals, cost-effective treatments, and tailored care, nations such as India and South Korea are witnessing a rise in medical tourism.

Leading Players in the AI in Genomics Market

The key features of the market report include patent analysis, clinical trials analysis, grants analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies are:

IBM

Founded in 1911, it has its corporate headquarters in New York, USA. IBM is a multinational corporation in engineering technology and consulting. In the genomics sector, IBM Watson Health has collaborated with Illumina to impose standards and provide easier interpretation of genomic data.

Microsoft

Founded in 1975, it has its corporate headquarters in Redmond, Washington. Microsoft is a leader in software a...

Thermo Fisher Scientific Inc.

It was incorporated in 1956 with a corporate headquarters in Waltham, Massachusetts. The company supplies anal...

Illumina, Inc.

Founded in 1998 and headquartered in California, Illumina is a global leader in DNA sequencing and array-based...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other companies include NVIDIA Corporation, DEEP GENOMICS, Data4Cure, Inc., Freenome Holdings, Inc., SOPHiA GENETICS, and BenevolentAI.

Key Questions Answered in the AI in Genomics Market

• What was the global AI in genomics market value in 2023?
• What is the global AI in genomics market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is the market segmentation based on the component?
• What is the market breakup based on the functionality?
• What is the market segmentation based on the application?
• What is the market breakup based on the end user?
• What are the major factors aiding the global AI in genomics market demand?
• What are the market's major drivers, opportunities, and restraints?
• Which regional market is expected to lead the market share in the forecast period?
• Which country is expected to experience expedited growth during the forecast period?
• What are the major global AI in genomics market trends?
• How does the rise in the geriatric population impact the market size?
• Who are the key players involved in the global AI in genomics market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?
• What are the primary components of the AI in genomics market?
• What role does AI play in genome sequencing?
• How is AI applied in drug discovery and development?
• How do pharmaceutical and biotech companies utilize AI in genomics?
• What is the role of North America in AI-driven genomics?