Artificial intelligence (AI) in digital genome involves the application of predictive modeling and machine learning techniques to analyze genomic data of patients and identify disease risks, progression, and responses to therapies. AI helps discover patient subtypes that are more susceptible to certain diseases and reactions to drugs. It also aids in accelerating drug discovery and development by analyzing huge archives of genetic and molecular data.
The global AI in digital genome market is estimated to be valued at US$ 651.68 Mn in 2024 and is expected to exhibit a CAGR of 2.7% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the AI in digital genome market are Sanofi, Pfizer Inc., Dongying Tiandong Pharmaceutical Co., Ltd., PANPHARMA S.A., Merck KGaA, Teva Pharmaceutical Industries Ltd., SMITHFIELD BIOSCIENCE, Afine Chemicals Limited, Yino Pharma Limited, Shandong Sheelian Pharmaceutical Co., Ltd., Aspen Holdings, Opocrin S.p.A. Key opportunities in the market include scope for AI algorithms to analyze medical imaging data, real world data from clinical trials and electronic health records for new insights. Technological advancements such as development of clinical decision support systems powered by precision medicine and cloud-based machine learning are fueling market growth.
Market Drivers
The key drivers contributing to Artificial Intelligence In Digital Genome Market Growth include increasing adoption of precision medicine, growing need for targeted drug therapy, rising investment in AI by biotech and pharma companies, and surging volumes of complex genomic data requiring analysis. AI assists in addressing challenges related to traditional drug discovery such as high costs and failure rates by enabling data-driven R&D focused on individual patient genomes and disease subtypes. This improves clinical outcomes and lowers healthcare costs.
Current challenges in Artificial Intelligence in Digital Genome Market
The growing adoption of AI in personalized healthcare has accelerated digital innovation but also introduced certain challenges. Data privacy and security has become a major concern due to the sensitive nature of genome data. Strict regulations around data handling and ethical AI is needed to gain public trust. Translating complex genomic data into clinically actionable insights at scale remains technically challenging. Skill gaps in healthcare also limit the potential of AI tools as medical practitioners need proper training to leverage new technologies. High initial investment and limited access in developing nations can also restrict the even growth of this market globally.
SWOT Analysis
Strength: Precision diagnostics and treatment based on individual genome. AI can help spot disease markers that may go unnoticed otherwise.
Weakness: Reliance on large datasets for training models; privacy and security risks from mishandling sensitive information.
Opportunity: Scope for leveraging AI across drug discovery, research and accelerating discovery of new therapies. High growth expected from integration of AI with personalized healthcare.
Threats: Ethical issues and regulatory uncertainty can slow adoptions; potential job losses in some sectors with automation.
Geographical regions concentration
North America currently dominates the Global Artificial Intelligence in Digital Genome Market owing to presence of major players, heavy investments in R&D and favorable regulatory environment for new technologies. Asia Pacific is expected to witness fastest growth due to rising healthcare expenditure, growing focus on precision medicine in countries like China and India.
Fastest growing region
Asia Pacific region is poised to be the fastest growing market for AI in digital genome. Romining healthcare needs, emerging economies with large patient pools, government initiatives for precision medicine and increasing investments from global players are driving high adoption in Asia Pacific. Countries like China, Japan and South Korea are at forefront of applying AI tools for drug development, biomarker discovery and clinical trials in the region.
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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