The artificial intelligence in genomics market to grow at a CAGR of 48.44% during the forecast period
ReportLinker
February 10, 2022, 5:11 am
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Artificial Intelligence in Genomics Market Report. The artificial intelligence in genomics market to grow at a CAGR of 48. 44% during the forecast period.
New York, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Artificial Intelligence in Genomics Market - Global Outlook & Forecast 2022-2027" - globenewswire.com
Artificial intelligence in drug discovery can make its development speedier and less hazardous which in turn is making it easy for clinicians to understand complicated diseases at the genetic level. The emergence of new and favorable applications for disease diagnosis and monitoring is expected to further drive the AI in genomics market growth. Several genomic-focused companies have shown favorable returns.
KEY HIGHLIGHTS
• In 2017, liquid biopsy company GRAIL raised an unprecedented USD 914 million in its Series B round led by Smart Money VC ARCH Venture Partners and including Johnson & Johnson to continue product development and validation for its early-stage cancer detection blood test.
• Another company that is making a lot of noise in the data-driven medicine space is Sophia Genetics from Switzerland. It already works with a half-dozen UK hospitals to pool data and bring AI-driven insights to cancer diagnostics, claiming to already diagnose hundreds of patients a day.
The following factors are likely to contribute to the growth of artificial intelligence in genomics market-
• Rising Investment by Government & Private Players in Genomics
• Emergence of Local and Regional Start-ups
• Emergence of Local and Regional Start-ups
• Rising Adoption of Machine Learning in Personalized/Precision Medicine
• Rising Focus on Reducing the Turnaround Time in Drugs Discovery & Diagnostics
ARTIFICIAL INTELLIGENCE IN GENOMICS MARKET SEGMENTATION
• The on-premises segment accounted for a share of more than 60% of the global artificial intelligence (AI) in the genomics market in 2021. This is primarily attributed to the broad range of advantages associated with the use of on-premises software, such as high security of data, low risk of data breaches, and full command over software upgrades & data storage.
• The closer combination of AI and gene sequencing will help in the development of the genome sequencing market. Companies such as Deep Genomics, use machine learning to support researchers interpret genetic variation.
Segmentation by Delivery Mode
• On-Premises
• Cloud-Based
Segmentation by Functionality
• Genome Sequencing
• Gene Editing
• Others
Segmentation by Application
• Translational Precision Medicine
• Clinical & Genomic Diagnostics
• Others
Segmentation by End User
• Pharma & Biotech Companies
• Public & Consumer Genomic Centers
• Others
GEOGRAPHICAL OUTLOOK
North America: North America accounted for more than half of the share in the global artificial intelligence in the genomics market in 2021. The AI in genomics market is likely to increase in North America owing to the growing adoption of AI in genome sequencing and rising awareness among the regional pharma and biotech companies. AI deep learning algorithms have also saved many lives in North America by reducing the diagnosis-treatment-recovery cycle for patients.
Europe: The increased awareness among European patients drives the application of personal genome sequencing testing, especially for reproductive health. Artificial Intelligence (AI) is widely helping in diagnostics and contributing to accessible, affordable, and good quality healthcare, which is consequently improving accuracy.
VENDOR LANDSCAPE
• The key players in Artificial Intelligence in Genomics market are Fabric Genomics, International Business Machines, Microsoft, and NVIDIA.
• Vendors are increasingly focusing on launching innovative devices to penetrate and tap the huge growth potential prevailing in the market.
Key Vendors
• Fabric Genomics
• International Business Machines
• Microsoft
• NVIDIA
Other Prominent Vendors
• AI Therapeutics
• Ares Genetics
• BenevolentAI
• Deep Genomics
• Diploid
• DNAnexus
• Emedgene
• Empiric Logic
• Engine Biosciences
• FDNA
• Freenome Holdings
• Genuity Science
• Lifebit
• MolecularMatch
• Predictive Oncology
• SOPHiA GENETICS
• Verge Genomics
• WhiteLab Genomics
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