Artificial Intelligence in Genomics Market - By Component (Software), Technology (Machine Learning), Functionality (Genome Sequencing), Application (Drug Discovery & Development), End-user (Pharma & Biotech Companies), Global Forecast, 2023 – 2032

AI in Genomics Market Size

Artificial Intelligence in Genomics Market size accounted for USD 484.1 million in 2022 and is estimated to grow at 39.2% to reach USD 12.5 billion by 2032.
 

AI technologies have the capability to detect complicated patterns and correlations within genetic data that may be challenging for humans to determine. Therefore, integration of AI in genomics is leading to notable enhancements in various areas such as the development of novel therapies for diseases, precise diagnostics, and personalized patient care, thereby supplementing the market development.
 

Artificial intelligence in genomics refers to the application of advanced computational algorithms and machine learning techniques to analyse and interpret genomic data. It involves the use of intelligent software and tools to extract meaningful insights from large amounts of genomic information.
 

COVID-19 Impact

The market experienced a favourable outcome due to the COVID-19 pandemic, as it served as a catalyst for the advancement of computing solutions that expedited the comprehension of the pandemic's magnitude, extent, and seriousness. Also, various healthcare industry leaders collaborated to develop innovative computing solutions that speed up vaccine and medication development. For instance, in May 2020, NVIDIA introduced novel tools incorporating genomic sequencing and artificial intelligence (AI) to support researchers in monitoring and addressing COVID-19 cases. Thus, by leveraging robust AI tools and genome sequence analysis, researchers and medical professionals gained enhanced insights into the genetic variations of COVID-19.
 

AI in Genomics Market Trends

The growing emphasis on reducing the turnaround time in drug discovery will boost the market progress. AI-powered platforms and algorithms streamline the process of analysing vast amounts of genomic data, enabling researchers to identify potential drug targets more efficiently. This analysis will escalate the early stages of drug discovery, thereby saving valuable time and resources. Additionally, AI-driven predictive models and virtual screening techniques aid in identifying and prioritizing potential drug candidates, thus further reduce the time required for experimental testing. Therefore, integration of AI in genomics will boost both the speed of drug discovery and the accuracy and success rate of identifying promising therapeutic options.
 

Artificial Intelligence in Genomics Market Restraint

The shortage of skilled AI professionals and stringent regulatory framework may hamper the market expansion. As the demand for AI rises across various industries, including genomics, the limited pool of experts proficient in AI poses significant challenges, thus hindering the market development. The complexity of AI technologies and their application in genomics requires a specialized skill set that is currently in short supply. This shortage hampers the seamless integration of AI into genomics processes and slows down the pace of advancements in the field. Furthermore, the stringent regulations governing data privacy, security, and ethical considerations will pose hurdles in the adoption and implementation of AI in genomics.
 

Artificial Intelligence in Genomics Market Analysis

By component, the AI in genomics market is classified into hardware, software, and services. The software segment accounted for 53.4% of the market share in 2022 and is projected to witness robust growth over the analysis timeframe. The increasing demand for advanced analytics and machine learning capabilities in genomics research and clinical settings is driving the adoption of AI-powered software solutions. Also, the integration of software with cloud-based infrastructure is facilitating seamless collaboration, data sharing, and scalability thus, propelling the segmental growth. Moreover, rapid advancements in AI technology and its cost-effectiveness nature will further supplement the market share.
 

Based on technology, the artificial intelligence in genomics market is segmented into machine learning and computer vision. The machine learning segment is expected to register around USD 8.1 billion by 2032. The growing accessibility of large-scale genomic datasets and advancements in computational power have facilitated the utilization of advanced machine learning algorithms in the genomics domain. These algorithms have the capability to analyse complex genomic data, identify patterns, and make predictions. Such benefits associated with machine learning will foster the market progress. Further, machine learning enables the development of predictive models for disease diagnosis, prognosis, and treatment response, hence supporting precision medicine approaches, thereby fostering the market revenue.
 

Based on functionality, the AI in genomics market is segmented into genome sequencing, gene editing, and other functionalities. The genome sequencing segment is expected to register around USD 5.6 billion by end of 2032. The utilization of AI-powered algorithms for genomic data interpretation enhances the ability to detect rare genetic variants and uncover critical insights that can guide clinical decision-making, thereby escalating the market growth.
 

Furthermore, genome sequencing companies are partnering with AI technology-based firms to expedite the procedures. For instance, in January 2022, PacBio, a developer of sequencing platforms, collaborated with Google. With this collaboration, PacBio is expected to utilize Google’s genomic analysis, machine learning and algorithm development tools to further improve PacBio’s existing HiFi sequencing runs, unlocking more insights from PacBio sequencing data.
 

Based on application, the artificial intelligence in genomics market is segmented into drug discovery & development, precision medicine, diagnostics, and other applications. The drug discovery & development segment dominated the market with a revenue share of 36% and is expected to grow at a considerable growth over the analysis timeframe. The growth of the drug discovery and development segment can be attributed to a surge in the demand for innovative medicines to address infectious and chronic diseases.
 

Also, increasing number of private and public investments and constant support from government in the field of genomics is expected to drive the market size. Furthermore, increasing adoption of artificial intelligence in healthcare will supplement the market outlook.
 

Based on end-use, the AI in genomics market is segmented into pharmaceutical & biotech companies, healthcare providers, research centers, and other end-users. The pharmaceutical & biotech companies segment dominated the market with a revenue share of over 35.5%. In the biotech and pharmaceutical industry, artificial intelligence and machine learning play a crucial role in clinical data management, automated illness prediction and prevention, and biomarker identification. The AI algorithms possess the capability to predict the potential toxicity of prospective drugs, providing pharmaceutical companies with a valuable tool to mitigate investment risks by avoiding drugs that have a higher probability of failure in clinical trials.
 

North America artificial intelligence in genomics market accounted for 51.9% business share in 2022 and is anticipated to grow at considerable growth rate during the forecast timeframe. In North America, various research institutions and well-capitalized biotechnology companies are making substantial investments in the advancement of AI-powered solutions for genomics, thereby boosting the regional industry demand. Moreover, presence of several key players coupled with availability of advanced computational infrastructure will further accelerate the market trends. Also, supportive government initiatives coupled with favorable regulatory frameworks will create a promising environment for the adoption of AI in genomics thus, driving the regional expansion.
 

Artificial Intelligence in Genomics Market Share

Major market players operating in the artificial intelligence in genomics market include

• DEEP GENOMICS
• Data4Cure, Inc.
• Freenome Holdings, Inc.
• Illumina, Inc.
• SOPHiA GENETICS
• Benevolent

These industry players majorly adopt various strategies including collaborations, acquisitions, mergers, and partnerships to create a global footprint and sustain market competition.
 

Artificial Intelligence in Genomics Industry News:

• In June 2022, Ultima Genomics, Inc. collaborated with NVIDIA to deliver genome sequencing with AI and accelerated computing. The collaboration included the use of NVIDIA GPUs for deep learning in photometry and base calling. This strategy helped the company to expand and grow.
   
• In March 2022, IBM partnered with Genomics England. Genomics England provides researchers access to genomic datasets to enable scientific discovery. The partnership allowed IBM to support the rapid expansion of Genomic England by enabling the consumption of cloud services through its AI capabilities. This strategy helped the company to enhance its service offering and assist in strengthening the market position.
   

The AI in genomics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:

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By Component

• Software
• Hardware
• Service

By Technology

• Machine Learning
  • Deep Learning
  • Supervised Learning
  • Unsupervised Learning
  • Other Machine Learning Technologies
• Computer Vision

By Functionality

• Genome Sequencing
• Gene Editing
• Other Functionalities

By Application

• Drug Discovery & Development
• Precision Medicine
• Diagnostics
• Other Applications

By End-user

• Pharmaceutical and Biotech Companies
• Healthcare Providers
• Research Centers
• Other End-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East & Africa