Artificial Intelligence In Genomics Market size worth $ 5628.19 Million, Globally, by 2028 at 52.60% CAGR: Verified Market Research®

The need to control drug development and discovery costs, the increasing public, as well as private investments and the adoption of AI solutions in precision medicine are fueling the market of Artificial Intelligence In Genomics Market expansion.

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Verified Market Research

Feb 17, 2022, 04:30 ET

JERSEY CITY, N.J., Feb. 17, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Artificial Intelligence In Genomics Market" By Offering (Software and Services), By Technology (Machine Learning and Computer Vision), By Functionality (Genome Sequencing, Gene Editing, and Gene Mapping), and By Geography. According to Verified Market Research, the Global Artificial Intelligence In Genomics Market size was valued at USD 191.90 Million in 2020 and is projected to reach USD 5628.19 Million by 2028, growing at a CAGR of 52.60% from 2021 to 2028.

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202 - Pages
126 – Tables
37 – Figures

Global Artificial Intelligence In Genomics Market Overview

The need to control drug development and discovery costs and time are fueling the market of artificial intelligence in genomics expansion. Over the forecast period, the Global Artificial Intelligence In Genomics Market is predicted to rise due to an increase in the need to control discovery costs and time during new drug development. Drug development is a time-consuming, complex, and expensive process, necessitating the use of different technologies in the search for new drugs.

In vivo and in vitro approaches, which are both expensive and time-consuming, are extensively used in drug discovery and development. Artificial intelligence is playing a major role in drug discovery, which might save a lot of time and money. As a result, the market is predicted to increase throughout the forecast period. The increasing public, as well as private investments in AI in genomics, are driving the market growth. The adoption of AI solutions in precision medicine is driving the growth of this market.

However, the lack of a skilled AI workforce and ambiguous regulatory guidelines for medical software are anticipated to restrain the Artificial Intelligence In Genomics Market growth during the forecast period. Furthermore, various governments have made significant investments in the science of genomics in recent years. This is a lucrative growth opportunity for the market. These investments have aided the development of new technologies significantly. The Department of Biotechnology, for instance, initiated the Genome India Project (GIP) in January 2020. (DBT). The goal of this research is to acquire 10,000 genetic samples from Indians.

Key Developments

In September 2021: Mila, the Quebec Artificial Intelligence Institute, announced today the beginning of a partnership with Deep Genomics, a leader in therapeutic artificial intelligence treatments. The company will be able to join Mila's community and take benefit of the research institute's recruitment activities as a result of this collaboration.

Key Players

The major players in the market are IBM (US), Microsoft (US), NVIDIA Corporation (US), Deep Genomics (Canada), BenevolentAI (UK), Fabric Genomics Inc. (US), Verge Genomics (US), Freenome Holdings, Inc. (US), MolecularMatch Inc. (US), and Cambridge Cancer Genomics (UK).

Verified Market Research has segmented the Global Artificial Intelligence In Genomics Market On the basis of Offering, Technology, Functionality, and Geography.

Artificial Intelligence In Genomics Market, By Offering

Software
Services

· Artificial Intelligence In Genomics Market, By Technology

Machine Learning
Computer Vision

· Artificial Intelligence In Genomics Market, By Functionality

Genome Sequencing
Gene Editing
Gene Mapping

Artificial Intelligence In Genomics Market By Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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