AI in Genomics Market Scope
AI in genomics is concerned with the application of artificial intelligence (AI) in the development of computer systems capable of performing tasks such as genome mapping. Furthermore, AI aids in the faster study of the structure, evolution, and activity of genetic material than could be done with human assistance. The primary goal of AI algorithms is to mimic human intelligence; however, in clinical genomics, it is intended to perform genomic analysis such as genome annotation, variant calling, phenotype-to-genotype correspondence, and genome interpretation. Furthermore, AI methods can directly predict protein structure or DNA data with minimal feature handcrafting. The applications of genomics in personalized medicine are significant.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Microsoft (United States), NVIDIA Corporation (United States), Data4Cure Inc. (United States), DNAnexus Inc. (United States), Sophia GENETICS (United States), Data4Cure Inc. (United States), Precisionlife Ltd (United Kingdom), Genoox Ltd. (United States), Lifebit (United Kingdom), Diploid (Belgium), MEDGENOME (United States), NetApp, Inc. (United States), FDNA Inc. (United States), Empiric Logic (Ireland), Engine Biosciences Pte. Ltd. (United States)., Deep Genomics (Canada), BenevolentAI (United Kingdom), Fabric Genomics Inc. (United States) and Verge Genomics (United States) |
CAGR | % |
The market for AI in Genomics is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global AI in Genomics market throughout the predicted period.
IBM (United States), Microsoft (United States), NVIDIA Corporation (United States), Data4Cure Inc. (United States), DNAnexus Inc. (United States), Sophia GENETICS (United States), Data4Cure Inc. (United States), Precisionlife Ltd (United Kingdom), Genoox Ltd. (United States), Lifebit (United Kingdom), Diploid (Belgium), MEDGENOME (United States), NetApp, Inc. (United States), FDNA Inc. (United States), Empiric Logic (Ireland), Engine Biosciences Pte. Ltd. (United States)., Deep Genomics (Canada), BenevolentAI (United Kingdom), Fabric Genomics Inc. (United States) and Verge Genomics (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global AI in Genomics market by Type , by Application (Medical Applications and Agricultural Applications) and Region with country level break-up.
On the basis of geography, the market of AI in Genomics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
On 13 April 2022, MedGenome Labs, a genomics research and diagnostics company in South Asia, has developed and launched an AI-enabled variant interpretation software suite, VarMiner. According to the company, this software will help clinicians, molecular geneticists, and Genome analysts to interpret and report actionable genetic variants.
AI in Genomics Market Dynamics:
Attributes | Details |
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Trends Influencing Market | - Rising Number Of Investments In Medical Research
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Key Restraints | - Growing Prevalence Of Chronic Disorders
- Increasing Awareness About Ai Benefits In The Healthcare Industry
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Challenges | - Concern regarding Data Privacy and Security
- Intense Competition Among Players
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Market Opportunities | - Increase In Government Initiatives And Research Funding For Promoting Precision Medicines
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