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Artificial Intelligence in Genomics Market Size

Report ID: GMI6051
Published Date: Jun 2023
Report Format: PDF

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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.

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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.

Artificial Intelligence (AI) in Genomics Market Report Attributes
Report Attribute	Details
Base Year:	2022
Artificial Intelligence (AI) in Genomics Market Size in 2022:	USD 484.1 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	39.2%
2032 Value Projection:	USD 12.5 Billion
Historical Data for:	2018 to 2022
No. of Pages:	220
Tables, Charts & Figures:	387
Segments covered:	Component, Technology, Functionality, Application, End-user, and Region
Growth Drivers:	Increasing adoption of AI in precision medicine Rising focus on reducing turnaround time in drug discovery Increasing application of AI in genomics and growing investment in genomics
Pitfalls & Challenges:	Lack of skilled professionals and stringent regulatory framework

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Artificial intelligence in genomics industry size reached USD 484.1 million in 2022 and is estimated to record USD 12.5 billion by 2032 attributed to the growing adoption of AI in precision medicine.

The software component segment accounted for 53.4% market share in 2022 and is poised to expand considerably through 2032 owing to the high demand for advanced analytics and ML capabilities in genomics research and clinical settings.

North America held 51.9% of the global AI in genomics market share in 2022 and is anticipated to grow at a robust CAGR through 2032 driven by the increasing investments for the advancement of AI-powered solutions for genomics by various research institutions.

Some of the major AI in genomics industry players include DEEP GENOMICS, Data4Cure, Inc., Freenome Holdings, Inc., Illumina, Inc., SOPHiA GENETICS, and Benevolent, and others.