Artificial Intelligence (AI) technologies have enabled genome analysis at an unprecedented scale and granularity. AI-powered genome analysis has aided in better understanding of diseases, gene functions, and therapeutic targets. Genomics powered by AI have helped researchers to analyze health data faster compared to traditional methods. AI is being used for genome sequencing, annotation, interpretation, and clinical decision-making in precision medicine. For instance, AI is helping radiologists and pathologists to detect anomalies and diagnose diseases more accurately from medical scans and tests.

The global Artificial Intelligence (AI) in Genomics Market is estimated to be valued at US$ 1.33 Mn in 2024 and is expected to exhibit a CAGR of 6.1%  over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

One of the major drivers fueling the growth of the AI in genomics market is increasing applications of AI in precision medicine. Precision medicine involves tailoring medical treatment to the individual characteristics of each patient. With the integration of AI and machine learning capabilities into genomic analysis tools, hospitals and diagnostic centers are able to stratify patient populations, detect genomic patterns that can help determine appropriate treatment options, and monitor disease progression and drug responses in a personalized way. This is expected to revolutionize disease treatment in the coming years. Additionally, the reducing costs of genome sequencing is also supporting the adoption of precision medicine approaches. As genome sequencing becomes more affordable, the use of genomic data in clinical settings will become more widespread. This will subsequently drive the demand for AI-powered analysis of large and complex genomic datasets.

Segment Analysis

The Artificial Intelligence (AI) in genomics market is dominated by the software sub segment which accounts for more than 55% share of the overall market. This is because software forms the core of any AI and genomics solution and determines the capabilities. The software enables storage, analysis and interpretation of vast genomic and biomedical datasets. It assists in drug discovery, predictive analysis and provides clinical decision support to clinicians.

PEST Analysis

Political: Governments across countries are increasingly funding genomics research which is driving innovations using AI. Favourable regulations are supporting commercialization of precision medicine solutions.
Economic: AI can significantly reduce cost of genomic data analysis and drug development. Integration of AI with genomics is improving efficiency, reducing costs and powering lucrative opportunities.
Social: Rising incidence of chronic diseases and demand for personalized treatments is augmenting adoption of AI based diagnostics and therapeutics. Increasing genetic testing and counseling is another key factor.
Technological: Advancements in high performance computing, deep learning algorithms and availability of massive genomic and health datasets are fueling development of cutting-edge AI solutions. Integration of AI, cloud and IoT is widening applications.

Key Takeaways

The global Artificial Intelligence (AI) In Genomics Market Demand is expected to witness high growth at a CAGR of 6.1%  during the forecast period of 2024 to 2030. Rapid progress in AI and genomic technologies is strengthening opportunities in clinical applications including cancer diagnostics, drug discovery and precision medicine.

Regional analysis: North America dominates currently owing to focus on precision medicine by pharmaceutical companies and research organizations in the region. However, Asia Pacific is anticipated to grow at the fastest pace considering increasing healthcare infrastructure investments, government initiatives and developing R&D facilities in countries like China and India.

Key players operating in the Artificial Intelligence (AI) in Genomics market are Thermo Fisher Scientific, F. Hoffmann-La Roche AG, Qiagen N.V, Hologic Inc., Siemens Healthineers AG, BioMerieux SA, Abbott Laboratories, Bio-Rad Laboratories Inc., Becton, Dickinson and Company, and Danaher Corporation (Beckman Coulter, Inc.), among others. Key players are focused on product launches and collaborations to strengthen their market position and explore new application areas in Clinical Genomics.

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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it