The global Artificial Intelligence (AI) in Genomics Market is estimated to be valued at US$ 1.15 Bn in 2022

Artificial Intelligence (AI) in Genomics Market
Artificial Intelligence (AI) in Genomics Market


The global Artificial Intelligence (AI) in Genomics Market is estimated to be valued at US$ 1.15 Bn in 2022 and is expected to exhibit a CAGR of 50.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
Artificial Intelligence in genomics helps in interpretation of genetic data, clinical diagnostics, and drug discovery. It utilizes machine learning algorithms to analyze DNA sequencing data and medical records for detecting diseases and risk factors at an early stage. AI draws meaningful conclusions and insights from large genomic datasets, discovers new biomarkers, and predicts drug response.

Market key trends:
One of the key trends in the AI in genomics market is the development of cloud-based genomics software. Cloud genomics software utilizes advanced AI and machine learning algorithms to analyze genomic and other biological data in the cloud. It allows researchers and healthcare providers to securely access genomic tools, computing resources, and datasets from anywhere through an internet connection. Cloud genomics software minimizes infrastructure costs while maximizing collaboration and data accessibility for discovery and translational research.

Segment Analysis

The global AI in genomics market is segmented into offering, technology, application, end-use, and region. Based on offering, the services segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. This is majorly attributed to the increasing demand for AI-based cloud-based services for genomics applications among pharmaceutical and biotechnology companies. By technology, the machine learning segment accounted for the largest share in 2022 due to wide deployment of machine learning techniques such as deep learning and reinforcement learning in precision medicine applications. The clinical & healthcare segment captured a major share under application in 2022 owing to rising adoption of AI for precision medicine and drug discovery.

Key Takeaways
The global Artificial Intelligence (AI) in Genomics Market is expected to witness high growth, exhibiting a CAGR of 50.1% over the forecast period 2023 to 2030, due to increasing focus on precision medicine and drug discovery.

Regional analysis - The US dominated the global market in 2022 and is anticipated to maintain its dominance during the forecast period. This is attributed to conducive government initiatives to promote adoption of AI technology in the healthcare sector. Asia Pacific is estimated to showcase the fastest growth through 2030 driven by rising healthcare expenditure, growing geriatric population, and increasing patient pool in countries like China and India.

Key players - Key players operating in the AI in genomics market are Fabric Genomics, International Business Machines, MICROSOFT, NVIDIA, AI Therapeutics, Ares Genetics, Benevolent AI, Deep Genomics, DIPLOID and among others. IBM captured the largest market share in 2022 owing to its strong foothold and wide portfolio of AI solutions for genomics.

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