Artificial Intelligence in Genomics Market by Offering, Function, Application, End-User

Description

List of Tables

The Artificial Intelligence in Genomics Market was valued at USD 560.07 million in 2023, expected to reach USD 740.23 million in 2024, and is projected to grow at a CAGR of 32.65%, to USD 4,048.30 million by 2030.

The artificial intelligence (AI) in genomics industry involves leveraging AI technologies to analyze genetic data and enhance genomic research, offering invaluable insights into personalized medicine, drug discovery, and disease prediction. The scope of AI in genomics extends across data-driven healthcare solutions, improved genomic diagnostics, and groundbreaking genetic research, crucial for advancing medical science. Its necessity is underscored by the vast amount of genomic data generated that requires sophisticated computational models for interpretation. AI simplifies complex data processing, providing accelerated analysis and more precise outcomes. The applications span the management of genomic sequencing data, AI-powered diagnostics for genetic disorders, and the development of personalized treatment plans. End-use scope is vast, targeting healthcare providers, pharmaceutical companies, research laboratories, and academic institutions. Market growth is being influenced by increasing demand for precision medicine, advancements in AI technologies, and a rising interest in genomic research. The latest opportunities lie in the integration of AI with next-generation sequencing technologies and the potential for AI-driven gene editing tools. For businesses, strategic recommendations include investing in AI platform development and collaborative partnerships with biomedical researchers and technology experts to drive innovation. However, the market faces significant challenges, including data privacy concerns, regulatory hurdles, high costs of implementation, and a need for robust validation of AI models and their outcomes. Overcoming these limitations requires a focus on developing transparent AI systems and adhering to ethical standards. The best areas for innovation and research include exploring AI's role in dissecting complex genetic interactions and developing tools for predictive genomics. As the landscape rapidly evolves, stakeholders must remain agile to navigate regulatory environments and harness AI's full potential in genomics. With its dynamic nature, the market presents substantial possibilities for businesses poised to contribute to its emerging technological advancements.

KEY MARKET STATISTICS
Base Year [2023]	USD 560.07 million
Estimated Year [2024]	USD 740.23 million
Forecast Year [2030]	USD 4,048.30 million
CAGR (%)	32.65%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Artificial Intelligence in Genomics Market

The Artificial Intelligence in Genomics Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Potential demand attributed to drug discovery and drug developments
- Increasing adoption of automated systems in pharmaceuticals and biotechnology industries
- Ongoing investments in novel drug discoveries with genomic solutions
Market Restraints
- High costs associated with development and deployment of AI
Market Opportunities
- Growing adaptability of AI for clinical trials data management along with high-quality data generation
- Upsurging governmental initiatives for AI deployment in genomics
Market Challenges
- Scarcity of skilled professionals and data security challenges associated with AI in genomics

Porter's Five Forces: A Strategic Tool for Navigating the Artificial Intelligence in Genomics Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Artificial Intelligence in Genomics Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Artificial Intelligence in Genomics Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Artificial Intelligence in Genomics Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Artificial Intelligence in Genomics Market

A detailed market share analysis in the Artificial Intelligence in Genomics Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Artificial Intelligence in Genomics Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Artificial Intelligence in Genomics Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Artificial Intelligence in Genomics Market

A strategic analysis of the Artificial Intelligence in Genomics Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Artificial Intelligence in Genomics Market, highlighting leading vendors and their innovative profiles. These include BenevolentAI Ltd., Data4Cure Inc., Deep Genomics Inc., DNAnexus Inc., Engine Biosciences Pte. Ltd., Exscientia, Fabric Genomics Inc., FDNA Inc., Freenome Holdings, Inc., Genomics AI, Genoox Ltd., Illumina, Inc., insitro, International Business Machines Corporation, Invitae Corporation, LGC Biosearch Technologies, Lifebit Biotech Ltd, Microsoft Corporation, MolecularMatch, Inc., NVIDIA Corporation, Ocean Genomics, Owkin, Inc, PrecisionLife Ltd., Sophia Genetics SA, and Verge Genomics.

Market Segmentation & Coverage

This research report categorizes the Artificial Intelligence in Genomics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Offering, market is studied across Services and Software.
Based on Function, market is studied across Clinical Workflows, Gene Editing, Genome Sequencing, and Predictive Genetic Testing & Preventive Medicine.
Based on Application, market is studied across Agriculture & Animal Research, Diagnostics, Drug Discovery & Development, and Precision Medicine.
Based on End-User, market is studied across Government Organizations, Healthcare Providers, Pharmaceutical & Biotech Companies, and Research Centers & Academic Institutes.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-501246436E27

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Potential demand attributed to drug discovery and drug developments
  - 5.1.1.2. Increasing adoption of automated systems in pharmaceuticals and biotechnology industries
  - 5.1.1.3. Ongoing investments in novel drug discoveries with genomic solutions
- 5.1.2. Restraints
  - 5.1.2.1. High costs associated with development and deployment of AI
- 5.1.3. Opportunities
  - 5.1.3.1. Growing adaptability of AI for clinical trials data management along with high-quality data generation
  - 5.1.3.2. Upsurging governmental initiatives for AI deployment in genomics
- 5.1.4. Challenges
  - 5.1.4.1. Scarcity of skilled professionals and data security challenges associated with AI in genomics
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Artificial Intelligence in Genomics Market, by Offering

6.1. Introduction
6.2. Services
6.3. Software

7. Artificial Intelligence in Genomics Market, by Function

7.1. Introduction
7.2. Clinical Workflows
7.3. Gene Editing
7.4. Genome Sequencing
7.5. Predictive Genetic Testing & Preventive Medicine

8. Artificial Intelligence in Genomics Market, by Application

8.1. Introduction
8.2. Agriculture & Animal Research
8.3. Diagnostics
8.4. Drug Discovery & Development
8.5. Precision Medicine

9. Artificial Intelligence in Genomics Market, by End-User

9.1. Introduction
9.2. Government Organizations
9.3. Healthcare Providers
9.4. Pharmaceutical & Biotech Companies
9.5. Research Centers & Academic Institutes

10. Americas Artificial Intelligence in Genomics Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Artificial Intelligence in Genomics Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Artificial Intelligence in Genomics Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. BenevolentAI Ltd.
2. Data4Cure Inc.
3. Deep Genomics Inc.
4. DNAnexus Inc.
5. Engine Biosciences Pte. Ltd.
6. Exscientia
7. Fabric Genomics Inc.
8. FDNA Inc.
9. Freenome Holdings, Inc.
10. Genomics AI
11. Genoox Ltd.
12. Illumina, Inc.
13. insitro
14. International Business Machines Corporation
15. Invitae Corporation
16. LGC Biosearch Technologies
17. Lifebit Biotech Ltd
18. Microsoft Corporation
19. MolecularMatch, Inc.
20. NVIDIA Corporation
21. Ocean Genomics
22. Owkin, Inc
23. PrecisionLife Ltd.
24. Sophia Genetics SA
25. Verge Genomics