by Artificial intelligence (AI) in genomics refers to the application of machine learning and deep learning algorithms to analyze complex genomic and biomedical data to gain insights into health and disease. AI tools help genomics researchers analyze huge volumes of DNA sequencing data to diagnose diseases more accurately and develop personalized treatment plans.
The global Artificial Intelligence (AI) in Genomics Market is estimated to be valued at US$ 2.1 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Increased precision in disease diagnosis and treatment is a major trend propelling the growth of the AI in genomics market. AI algorithms can analyze huge volumes of genetic and medical data to identify patterns and correlations that may lead to new discoveries. They help clinicians to predict the risk of developing a disease with higher accuracy and determine the most effective personalized treatment for patients based on their genetic makeup. AI also aids in developing new targeted drugs and precision therapies by identifying unique genetic signatures of various diseases. These capabilities of AI are enhancing disease diagnosis and treatment outcomes significantly, thereby increasing its adoption among healthcare providers and pharma companies.
SWOT Analysis
Strength: AI offers opportunities to analyze large datasets of genomic, diagnostic, and clinical data to develop predictive models for diagnosing and treating diseases.
Weakness: Developing predictive models require huge amounts of quality data, which is not readily available for many diseases. Privacy and security of personal genomic data is also a concern.
Opportunity: AI can help analyze genomic data to develop personalized treatment pathways by identifying disease subtypes and biomarkers. It also helps accelerate drug discovery and precision medicine approaches.
Threats: Lack of standards and regulations around the use of genomic and health data raises legal and ethical issues. Healthcare systems may also be slow to adopt new AI-based technologies.
Key Takeaways
The global Artificial Intelligence (AI) in Genomics Market demand is expected to witness high growth. The global Artificial Intelligence (AI) in Genomics Market is estimated to be valued at US$ 2.1 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.
Regional analysis related content comprises North America currently dominates the AI in genomics market due to substantial investments in R&D and presence of key players in the region. The high adoption of precision medicine and presence of advanced healthcare infrastructure also supports market growth.
Key players related content comprises Key players operating in the Artificial Intelligence (AI) in Genomics Market are Microsoft, NVIDIA Corporation, IBM, Deep Genomics, BenevolentAI, Fabric Genomics, MolecularMatch, PrecisionLife Ltd, FDNA, Bioinfo LLC.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
