Artificial Intelligence (AI) in healthcare and life sciences is driving major advancements by enabling analysis of huge genome datasets. AI algorithms can rapidly analyze DNA sequences by spotting patterns to diagnose diseases, discover new therapeutic targets and accelerate drug discovery. Digital genomes contain our entire genetic code and hold promise to pave new frontiers in precision and personalized medicine. AI is able to detect subtle variations that traditional technologies miss which can unlock new insights. With AI, genomes can be sequenced, interpreted and compared much faster than before to gain a deeper understanding of health and disease at an individual level.
The global Artificial Intelligence in Digital Genome Market is estimated to be valued at US$ 565.69 Mn in 2023 and is expected to exhibit a CAGR of 2.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The integration of AI into genomic research enables mining vast troves of complex data to generate predictive clinical insights. AI can process thousands of genomes in minutes to spot patterns associated with risk factors, progression and treatment response of various illnesses. This speeds up research and drug development while reducing costs involved. With AI, implications of a person’s genetic variants and their interactions with lifestyle and environment can be better understood. Personalized treatment strategies tailored to one’s unique genetic profile then become feasible.
Market key trends:
One of the major trends in the Artificial Intelligence In Digital Genome Market Size is the use of deep learning models for precision medicine. Deep learning algorithms are able to detect hard-to-find genetic correlations by analyzing huge volumes of genome sequences and associated clinical data. This helps discover new biomarkers and tailor medical care according to individual genetic predispositions and propensities. Various startups are applying deep learning to genomic research to advance population health management, develop more targeted therapies and expand precision medicine. Another key trend is partnership between life science companies, genomic data providers, diagnostic labs and AI solution firms to integrate AI into genomics workflows and applications. This will help accelerate the clinical translation and adoption of genomic technologies.
Porter’s Analysis
Threat of new entrants: High barriers to entry in Artificial intelligence domain requiring huge capital investments and technical expertise limit new entrants.
Bargaining power of buyers: Buyers have moderate to high bargaining power in the market due to availability of alternatives and price sensitivity for AI based genome offerings.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated technology capabilities and significant investments required in development.
Threat of new substitutes: Threat of substitutes is moderate as other adjacent technologies like Cloud and Big data offer alternatives to a certain extent.
Competitive rivalry: Intense competition exists among existing players due to their technology capabilities and focus on innovation.
Key Takeaways
The global Artificial Intelligence in Digital Genome Market is expected to witness high growth during the forecast period. The global Artificial Intelligence in Digital Genome Market is estimated to be valued at US$ 565.69 Mn in 2023 and is expected to exhibit a CAGR of 2.7% over the forecast period 2023 to 2030.
North America is currently leading the market due to presence of major players and growing adoption across sectors like healthcare and pharma. The Asia Pacific region is anticipated to witness fastest growth over the forecast period supported by presence of emerging economies like India and China and increasing government support for AI based technologies.
Key players operating in the Artificial Intelligence in Digital Genome Market are Intel Corporation, IBM Corporation, Microsoft Corporation, NVIDIA Corporation, Anthropic, Berg LLC, Enlitic, Inc., Fabric Genomics, Inc., Deep Genomics, and Molecular Match, among others. Key players are focusing on new product launches and strategic partnerships for gaining competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
