AI in Genomics Market Size Worth $16,757.95 Million By 2032 | CAGR: 42.60%

The global AI in genomics market size is expected to reach USD 16,757.95 million by 2032, according to a new study by Polaris Market Research. The report “AI in Genomics Market Share, Size, Trends, Industry Analysis Report, By Offering (Software, Services), By Technology, By Functionality, By Application, By End User, By Region, Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The substantial financial support required to generate genomic data plays a crucial role in driving the market's growth. Institutions like the National Human Genome Research Institute (NHGRI) contribute significantly to this growth by allocating substantial funding, with an annual investment of over $125 million, to support diverse genomic data science initiatives. This financial backing enables researchers and organizations to generate and accumulate extensive genomic datasets. As the volume of genomic data increases, the demand for AI technologies, including machine learning and deep learning algorithms, rises to effectively analyze and derive insights from this vast amount of information.

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The collaboration between private & commercial cloud and governmental & public entities, such as the National Institutes of Health (NIH) through initiatives like STRIDES, drives the market's growth. These collaborative initiatives support the storage and computing infrastructure to host genomic data. They provide scalable and secure platforms to handle the large volumes of genomic data generated in genomics research. Additionally, they prioritize implementing robust security and privacy measures to safeguard sensitive human genomic data.

AI in Genomics Market Report Highlights

• Software segment is anticipated to witness faster growth in the coming years due to the rise in genomic data.
• Machine Learning segment accounted for the largest revenue share owing to the increased volume and complexity of data.
• Genome Sequencing segment is projected to experience the largest revenue share due to the advancements in DNA sequencing technologies.
• Precision Medicine is expected to witness significant growth rate due to growing personalized treatment approaches.
• Pharmaceuticals and Biotech Companies are expected to grow at a substantial rate due to accelerated drug discovery.
• North America is projected to witness largest revenue share owing to the rise in government initiatives to promote healthcare. While Europe is expected to grow a larger revenue share owing to the encouragement from the governments by funding the projects.
• The global players include Google DeepMind, QIAGEN Bioinformatics, SOPHiA DDM, WuXi NextCODE, Genuity Science, Lifebit, Envisagenics, ZS Genetics, MedGenome, Cypher Genomics, PierianDx, Bluebee, Repositive, Precision for Medicine, Shivom & Bluegnome.

Polaris Market Research has segmented the AI in Genomics market report based on offering, technology, functionality, application, end user and region:

AI in Genomics, Offering Outlook (Revenue - USD Million, 2019 - 2032)

• Software
• Services

AI in Genomics, Technology Outlook (Revenue - USD Million, 2019 - 2032)

• Machine Learning
  • Deep Learning
  • Supervised Learning
  • Unsupervised Learning
  • Reinforcement Learning
  • Other Machine Learning Technologies
• Other Technologies

AI in Genomics, Functionality Outlook (Revenue - USD Million, 2019 - 2032)

• Genome Sequencing
• Gene Editing
• Clinical Workflows
• Predictive Genetic Testing & Preventive Medicine

AI in Genomics, Application Outlook (Revenue - USD Million, 2019 - 2032)

• Diagnostics
• Drug Discovery & Development
• Precision Medicine
• Agriculture & Animal Research
• Other Applications

AI in Genomics, End User Outlook (Revenue - USD Million, 2019 - 2032)

• Pharmaceutical and Biotech Companies
• Healthcare Providers
• Research Centres, Academic Institutes and Government Organization
• Other End Users

AI in Genomics, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

AI in Genomics Market Report Scope