The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s AI In Genomics Global Market Report 2024, the AI in genomics market is expected to show significant growth in the forecast period.

Introduction: A Rapidly Expanding Landscape

The AI in genomics market has been witnessing exponential growth in recent years, with promising projections for the future. Let’s delve into the factors propelling this growth and the trends shaping the landscape.

Exponential Growth Trajectory

• The market size is set to skyrocket from $0.75 billion in 2023 to $1.08 billion in 2024.
• Compound annual growth rate (CAGR) of 43.9% signifies robust expansion.

Drivers of Growth

1. Advancements in Genomic Sequencing

• Enhanced capabilities pave the way for more accurate analyses and insights.

2. Data Handling Challenges

• AI solutions offer efficient handling of vast genomic datasets, improving research outcomes.

3. Personalized Medicine Demand

• Tailored treatments fueled by genomic insights drive demand for AI integration.

4. Disease Understanding and Diagnosis

• AI aids in identifying patterns and biomarkers crucial for disease diagnosis and prognosis.

5. Drug Discovery and Development

• Accelerated drug discovery pipelines benefit from AI-enabled genomic analysis.

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Expanding Horizons: Forecasts and Trends

1. Projected Growth

• Expected to reach $4.58 billion by 2028, with a CAGR of 43.4%.

2. Key Trends

• AI in Cancer Genomics: Revolutionizing cancer diagnosis and treatment pathways.
• AI-enhanced Genomic Imaging: Enhancing precision and accuracy in genomic analysis.
• AI-driven Biomarker Discovery: Identifying crucial indicators for disease diagnosis and treatment.
• Genomic Data Integration: Facilitating seamless collaboration and insights across healthcare systems.
• Functional Genomics Research: Enabling deeper understanding of genetic functions and interactions.

Driving Force: Growing Adoption of AI

• AI adoption rates surged, with significant implications for the genomics market.
• Applications span disease diagnosis, prognosis, gene editing, and more.
• Major players include IBM, Microsoft, NVIDIA, and a host of innovative startups.
• Survey data underscores increasing enterprise interest and investment in AI technologies.

Innovations Shaping the Landscape

1. High-Resolution Analysis

• Cutting-edge solutions like Genomic Vision’s FiberSmart revolutionize DNA analysis.
• AI-powered software enables unprecedented precision in genetic disease diagnosis.

2. Strategic Acquisitions

• Sema4’s acquisition of GeneDx underscores the importance of AI-driven genomic testing.
• Consolidation of resources strengthens capabilities and accelerates innovation.

Market Segmentation

1. By Component

• Hardware, Software, Services

2. By Technology

• Machine Learning, Computer Vision

3. By Functionality

• Genome Sequencing, Gene Editing, Other Functionalities

4. By Application

• Drug Discovery and Development, Precision Medicine, Diagnostics, Other Applications

5. By End-use

• Pharmaceutical and Biotech Companies, Healthcare Providers, Research Centers, Other End-Users

Regional Dynamics

• North America leads the AI in genomics market, with Asia-Pacific poised for rapid growth.

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The AI In Genomics Global Market Report 2024  provides an in-depth analysis on the AI in genomics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the AI in genomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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