Increasing public and private investments in AI in genomics, The need to control drug development and discovery costs and time, and the adoption of AI solutions in precision medicine are driving the growth of this market.
According to research report AI in Genomics Market is projected to reach $1,671 million by 2025, at a CAGR of 52.7% between 2020 and 2025
The software and services segment accounted for largest share of the global AI in genomics market in 2019. Based on offering, the Artificial Intelligence In Genomics Market is segmented into software and services. Software is needed to generate new insights from large-scale datasets and help understand genomic variations, thus enhancing the search for disease-causing variants and reducing clinical analysis times. The benefits offered by AI in software are driving its adoption among end users.
Genome sequencing was the largest functionality segment in this market in 2019 and is estimated to grow at highest CAGR in coming years. Based on functionality, the AI in genomics market is segmented into genome sequencing, gene editing, clinical workflows, and predictive genetic testing & preventive medicine. The large share of this segment can be attributed to the use of AI solutions to identify chromosomal disorders, dysmorphic syndromes, teratogenic disorders, and single-gene disorders.
Prominent 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), SOPHiA GENETICS (US), Data4Cure Inc. (US), PrecisionLife Ltd (UK), MolecularMatch Inc. (US), Cambridge Cancer Genomics (UK), Genoox Ltd. (US), Lifebit (UK), Diploid (Belgium), FDNA Inc. (US), DNAnexus Inc. (US), Empiric Logic (Ireland), Engine Biosciences Pte. Ltd. (US).
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