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AI In Genomics Global Market Report 2024: Exponential Market Growth Driven by Advancements in Genomic Sequencing and Demand for Personalized Medicine
AI In Genomics Market Size
What Is The Projected Market Size Of The Global AI In Genomics Global Market Report 2024 And Its Growth Rate?
• The AI in genomics market size was valued at $1.06 billion in 2024 and is projected to grow exponentially to $1.52 billion in 2025 at a compound annual growth rate (CAGR) of 42.8%.
• By 2029, the market is expected to reach $6.64 billion, growing at a CAGR of 44.6%.
• The growth can be attributed to advancements in genomic sequencing, data management challenges, demand for personalized medicine, better disease understanding and diagnosis, and drug discovery and development.
What Is Driving The Growth In The AI In Genomics Global Market Report 2024?
The growth of the AI in genomics market can be attributed to the increasing adoption of AI in identifying genetic illnesses, predicting disease progression, and improving gene editing tools' functionality. Reports from IBM and CSIRO suggest a significant rise in the global adoption rate of AI across various businesses, which is fueling the market growth.
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Who Are the Key Players Driving AI In Genomics Global Market Report 2024 Growth?
• International Business Machines Corporation
• Microsoft Corp.
• NVIDIA Corporation
• Deep Genomics Inc.
• BenevolentAI Ltd.
• Fabric Genomics Inc.
• Verge Genomic Inc.
• Freenome Holdings Inc.
• MolecularMatch Inc.
• SOPHiA GENETICS SA
• Data4Cure Inc.
• PrecisionLife Ltd., and others.
What Are The Key Trends In The AI In Genomics Global Market Report 2024?
• AI in cancer genomics
• AI-enhanced genomic imaging
• AI-driven biomarker discovery
• Genomic data integration across healthcare systems
• AI in functional genomics research
What Are The Segments Of The Global AI In Genomics Global Market Report 2024?
• By Component: Hardware, Software, Services
• By Technology: Machine Learning, Computer Vision
• By Functionality: Genome Sequencing, Gene Editing, Other Functionalities
• By Application: Drug Discovery And Development, Precision Medicine, Diagnostics, Other Applications
• By End-Use: Pharmaceutical And Biotech Companies, Healthcare Providers, Research Centers, Other End-Users
Which Region Leads The AI In Genomics Global Market Report 2024?
North America was the largest region in the AI in genomics market in 2024. However, Asia-Pacific is expected to witness the fastest growth rate in the forecasted period.
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What Is Covered In The AI In Genomics Global Market Report 2024 Global Market Report?
- Market Size Analysis: Analyze the AI In Genomics Global Market Report 2024 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the AI In Genomics Global Market Report 2024 for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall AI In Genomics Global Market Report 2024 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the AI In Genomics Global Market Report 2024.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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