AI (Artificial Intelligence) in Genomics Market Research Report 2023
Research and Markets
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Dublin, March 31, 2023 (GLOBE NEWSWIRE) -- The "AI in Genomics Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The global AI in genomics market is expected to grow at a significant CAGR of 50.2% during 2022-2028#
The rising investment by pharmaceutical companies and rising investment in the R&D in the drug discovery and drug development practices are expected to fuel the growth of the global AI in genomics market. The introduction of AI technology in the genomics field is expected to enhance operations, improve quality, and control the cost of activities.
Drug discovery is a costly and time-consuming method; therefore, the demand for AI is expected to rise significantly, as AI delivers a quicker and cost-effective discovery process, and provides better success rates in the forthcoming future in the genomics industry.
Moreover, the growing adoption of AI in precision medicine, and funding provided by the government for genomic research have significantly driven the growth of the global AI in the genomics market.
For instance, in September 2021, the Swedish government allocated an additional $9.4 million to Genomic Medicine Sweden (GMS), issued new diagnostic tools into healthcare, and contributes to more personalized care and treatment for precision medicine. The diagnostic toolkits include broad gene panels and whole-genome sequencing for analyzing cancers and rare diseases.
Further, the funding is also intended to contribute to the ongoing introduction of precision medicine into healthcare, strengthening Swedish research and promoting new research and innovation collaborations between industry, healthcare, and academia. Therefore, the rising investment in the precision medicine field and significant benefits of using AI in the genomics field are supporting boost the market growth during the forecast period.
The gene editing segment is expected to show significant growth in the coming year. The growth is majorly attributed Owing to the factors such as the increasing application of gene editing technologies in the pharmaceutical, biotechnological, and agriculture sectors and rising research collaborations for gene editing.
For instance, in June 2022, Immatics N.V., and Editas Medicine Inc., entered into a research collaboration and licensing agreement to combine gamma-delta T cell adoptive cell therapies and gene editing to develop medicines for the treatment of cancers. By combining Editas Medicine's gene editing technology with Immatics' ACTallo allogeneic, off-the-shelf adoptive cell therapy platform based on gamma-delta T cells, gamma-delta T cells the company delivers transformative medicines for the treatment of cancer.
The European region is expected to hold a prominent share in the global AI in genomics market. The rising application of AI across various end-user verticals such as animal research and drug discovery is driving the market growth in the region. Moreover, the presence of several research organizations is fostering the growth of the market in the European region.
The major companies operating in the global AI in genomics include IBM Corp., Microsoft Corp., Google LLC, and NVIDIA Corp., among others.
The market players are focusing on the adoption of various strategies including mergers and acquisitions, partnerships, mergers and acquisitions, new product launches, and collaborations, to stay competitive in the market. For instance, in January 2022, BenevolentAI and AstraZeneca announced the expansion of AI powdered drug discovery which include disease areas such as systematic lupus erythematosus (SLE), and heart failure (HF).
Leveraging the Benevolent Platform and biomedical Knowledge Graph will offer the scientists and technologists of BenevolentAI and AstraZeneca an improved understanding of the underlying disease mechanisms and identify new targets.
Key Topics Covered:
1. Report Summary 1.1. Research Methods and Tools 1.2. Market Breakdown
2. Market Overview and Insights 2.1. Scope of the Report 2.2. Analyst Insight and Current Market Trends 2.2.1. Key Findings 2.2.2. Recommendations 2.2.3. Conclusion
3. Competitive Landscape 3.1. Key Company Analysis 3.1.1. IBM Corp. 3.1.1.1. Overview 3.1.1.2. Financial Analysis 3.1.1.3. SWOT Analysis 3.1.1.4. Recent Developments 3.1.2. Microsoft Corp. 3.1.3. Google LLC 3.1.4. NVIDIA Corp.
4. Market Segmentation 4.1. Global AI in Genomics Market by Delivery Mode 4.1.1. On-Premise 4.1.2. Cloud-Based 4.2. Global AI in Genomics Market by Functionality 4.2.1. Genome Sequencing 4.2.2. Gene Editing 4.3. Global AI in Genomics Market by Application 4.3.1. Translational Precision Medicine 4.3.2. Clinical and Genomic Diagnosis 4.3.3. Others 4.4. Global AI in Genomics Market by End-User 4.4.1. Pharmaceutical and Biotechnology Companies 4.4.2. Research Centers, Academic Institutes, and Government Organizations 4.4.3. Healthcare Providers
5. Regional Analysis 5.1. North America 5.1.1. United States 5.1.2. Canada 5.2. Europe 5.2.1. UK 5.2.2. Germany 5.2.3. Italy 5.2.4. Spain 5.2.5. France 5.2.6. Rest of Europe 5.3. Asia-Pacific 5.3.1. China 5.3.2. India 5.3.3. Japan 5.3.4. South Korea 5.3.5. Rest of Asia-Pacific 5.4. Rest of the World
6. Company Profiles 6.1. BenevolentAI 6.2. Data4Cure, Inc. 6.3. Deep Genomics 6.4. Diploid Inc. 6.5. DNAnexus, Inc. 6.6. Empiric Logic 6.7. Engine Biosciences Pte. Ltd. 6.8. Fabric Genomics Inc. 6.9. FDNA 6.10. Freenome Holdings Inc. 6.11. GNX Data Systems Inc.Genoox 6.12. Lifebit Biotech Ltd. 6.13. Seragon Pharmaceuticals 6.14. Sophia Genetics 6.15. Verge Genomics
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