Artificial Intelligence In Genomics Market by Offering (Software and Services), Technology (Machine Learning, Computer Vision, and Other Technologies), Functionality (Genome Sequencing, Gene Editing, Clinical Workflows, and Predictive Genetic Testing & Preventive Medicine), Application (Diagnostics, Drug Discovery & Development, Precision Medicine, Agriculture & Animal Research, and Other Applications), End-User (Pharmaceutical & Biotech Companies, Healthcare Providers, Research Centers, Academic Institutes & Government Organizations, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00027013 | Pages: 100 | Industry: Healthcare IT | Date: Oct 2022 | Type: Global

The market crossed the US$ 471.14 million mark in 2022 and is expected to hit US$ 9,463.16 million by 2030, recording a CAGR of 45.5% during the forecast period.

The need for drug development and discovery will result in the high adoption of artificial intelligence in genomics.

Genotyping compares a DNA sequence to another sample or a reference sequence to discover variations in genetic complement. It detects single-nucleotide polymorphisms (SNPs), which are minor differences in genetic sequence within the population. For instance, according to the GLOBOCAN database published in 2020, an estimated 28.4 million new cancer cases are predicted to occur in 2040, a 47% increase from the corresponding 19.3 million cases in 2020. According to the International Diabetes Federation (IDF) consortium 2019, type 2 diabetes (T2D) is one of the leading causes of death worldwide, accounting for 4.2 million deaths in 2019. According to the same research, Iran ranks third among 20 countries in the Middle East and North Africa (MENA) in terms of the number of adults with diabetes (5.4 million), estimated that about 9.2 million Iranians may catch the disease by 2030. The introduction of high-throughput genotyping technologies has greatly advanced our understanding of the genetic components of complex disorders, such as T2D. 

Within the report, the market is segmented into offering, technology, functionality, application, end-user, and geography. The market is bifurcated by offering into software and services. The market is segmented by technology into machine learning, computer vision, and other technologies. Machine learning is further sub-segmented into deep, supervised, reinforcement, and unsupervised learning. The market is segmented by functionality into genome sequencing, gene editing, clinical workflows, and predictive genetic testing & preventive medicine. The market is segmented by application into diagnostics, drug discovery & development, precision medicine, agriculture & animal research, and other applications. Based on end-user, the market is segmented into pharmaceutical & biotech companies, healthcare providers, research centers, academic institutes & government organizations, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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The diagnostics segment holds the largest market share by application

Genomics refers to the study of genomes. It is a complete set of DNA, including an individual’s genes. Artificial intelligence is the progression of computer systems capable of performing tasks that generally require human intelligence. The field of genomics generates large datasets that are utilized in the making of potential new therapeutics. Artificial Intelligence in genomics is widely used to develop and discover drugs for curing rare diseases. It accelerates the time taken to find novel therapies. It utilizes DNA sequencing methods, recombinant DNA, and bioinformatics to assemble, analyze, and sequence the structure and function of genomes. It helps to predict an individual’s probability of developing certain diseases or inform potential therapy design.

The increasing prevalence of infectious and rare diseases is boosting the demand for state-of-the-art diagnostic systems. Technological advancements have enabled healthcare systems from different countries to diagnose these diseases effectively. Genetic testing can now be used to diagnose diseases; to date, ~900 genetic tests are available for diagnosis. Genetic tests are reliable and can estimate the risk of developing different conditions. Further, genomics has enabled identifying and diagnosis of genetic factors that contribute to diseases such as high blood pressure, diabetes, and cancer. Relevant genomic technology is used to diagnose infectious diseases by sequencing the microorganisms that can cause infections in humans. The symptoms can be traced, and the information can be utilized to discover antibiotics or drugs. Furthermore, genomic technologies are used to identify new genes that cause genetic disease.

Increasing applications of genomics in the pharmaceutical industry are providing lucrative opportunities to drive the growth

Artificial intelligence in genomics is widely used to provide ultra-throughput sequences to revolutionize plant genotyping and breeding. Further, large genomic datasets connected to patient health and medical data are increasingly being used by pharmaceutical companies through partnerships, collaborations, or acquisitions among research institutes, and companies are increasing the number of clinical studies. For instance, on May 22, 2020, Roche acquired Stratos Genomic to strengthen its DNA-based sequencing for diagnostic use. With a wide range of applications, biotechnological and pharmaceutical companies demand artificial intelligence in genomics is rapidly increasing; this is expected to provide greater revenue growth opportunities for market players in the coming years.

Recent strategic developments in artificial intelligence in the genomics market

Artificial intelligence in the genomics market has undergone several significant developments, and a few of these have been mentioned below:

  • In May 2022, NEOGEN Corporation and Gencove announced the launch of InfiniSEEK, an innovative and cost-effective solution for solving Whole-genome sequencing and targeted SNP analysis.
  • In July 2020, the enhanced version of the BD Onclarity HPV assay was FDA approved for premarket supplements and was the only assay currently approved to individually identify and report the genotype of human papillomavirus (HPV) 31, 51, 52, 33/58, 35/39/68, and 56/59/66. Standard 16, 18, and 45 versions were announced by Becton, Dickinson, and Company (BD).
  • In June 2020, Illumina received the FDA Emergency Use Authorization for “COVIDSeq,” a Sequencing-Based COVID-19 Diagnostic Test. This test includes 98 amplicons to target the entire SARS-CoV-2 genome, creating efficient detection and high sensitivity.

Several players drive artificial intelligence in the genomics market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Onvidia, Deep Genomics, DNAnexus, Empiric Logic, Engine Biosciences, Fabric Genomics, Microsoft Corporation, Diploid, Molecularmatch, and Cambridge Cancer Genomics are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Service providers
  • Market-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Distributors and sales firms
  • End users of medical devices
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • By Offering:
    • Software
    • Services
  • By Technology:
    • Machine Learning
      • Deep Learning
      • Supervised Learning
      • Reinforcement Learning
      • Unsupervised Learning
    • Computer Vision
    • Other Technologies
  • By Functionality:
    • Genome Sequencing
    • Gene Editing
    • Clinical Workflows
    • Predictive Genetic Testing & Preventive Medicine
  • Application:
    • Diagnostics
    • Drug Discovery & Development
    • Precision Medicine
    • Agriculture & Animal Research
    • Other Applications
  • End-user:
    • Pharmaceutical & Biotech Companies
    • Healthcare Providers
    • Research Centers
    • Academic Institutes & Government Organizations
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Onvidia
    • Deep Genomics
    • DNAnexus
    • Empiric Logic
    • Engine Biosciences
    • Fabric Genomics
    • Microsoft Corporation
    • Diploid
    • Molecularmatch
    • Cambridge Cancer Genomics

The List of Companies
- Onvidia
- Deep Genomics
- DNAnexus
- Empiric Logic
- Engine Biosciences
- Fabric Genomics
- Microsoft Corporation
- Diploid
- Molecularmatch
- Cambridge Cancer Genomics

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