Artificial Intelligence in Digital Genome market
The Artificial Intelligence in Digital Genome market is anticipated to witness
high growth owing to increasing applications of AI in precision medicine.
Artificial intelligence has the potential to transform genomics and healthcare
by enabling precision medicine approaches for better disease risk assessment,
screening, diagnosis, prognosis, and personalized treatment selection.
Artificial intelligence techniques like machine learning and deep learning are
being used for various genomics applications such as genome assembly, variant
calling, functional effect prediction of variants, prediction of phenotype from
the genotype, and drug discovery. AI has the potential to accelerate genomic
research and enable precision medicine by integrating and analyzing huge
amounts of multiomics and clinical data.
The Global Artificial Intelligence in Digital Genome Market is estimated to be
valued at US$ 651.68 Mn in 2024 and
is expected to exhibit a CAGR of 2.7% over
the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Artificial Intelligence in Digital Genome market
are Sanofi, Pfizer Inc., Dongying Tiandong Pharmaceutical Co., Ltd., PANPHARMA
S.A., Merck KGaA, Teva Pharmaceutical Industries Ltd., SMITHFIELD BIOSCIENCE,
Afine Chemicals Limited, Yino Pharma Limited, Shandong Sheelian Pharmaceutical
Co., Ltd., Aspen Holdings, Opocrin S.p.A.
Major companies are focusing on partnerships and collaborations to develop
AI-driven precision medicine approaches. For instance, Sanofi partnered with
Anthropic to develop AI solutions for drug discovery from real-world datasets.
North America dominated the global AI in digital genome market in 2022
attributed to increasing R&D spending and presence of key players in the US
and Canada. However, Asia Pacific is expected to witness the highest growth
owing to rising genomics research and growing healthcare expenditure in
countries like China and India.
Market Drivers
Declining cost of DNA sequencing is enabling more genome sequencing activities
which is fueling availability of genomic data required for training of AI
algorithms. This is expected to drive the adoption of Artificial
Intelligence In Digital Genome Market Growth.
Integration of multi-omics data sources like genome, transcriptome, proteome
and phenome datasets with healthcare records is allowing development of more
accurate disease risk prediction and precision treatment selection models using
AI. This is anticipated to boost the artificial intelligence in digital genome
market during the forecast period.
Market Restraints
Lack of skilled AI and genomics experts is a major challenge for seamless
integration of AI in genomics applications and product development. This may
hamper market growth initially.
Reliability of AI algorithms depends on quality, quantity and type of genomic
and associated clinical data used for training which is still limited. This
hinders widespread adoption of AI-driven precision medicine solutions.
Segment Analysis
The Artificial Intelligence in Digital Genome Market is dominated by the
Computing for Genomics segment. This segment accounts for the largest share as
AI techniques are increasingly being used to analyze enormous genomic datasets
and extract meaningful insights. Machine learning algorithms are being applied
to identify patterns, predict outcomes and uncover hidden relationships in
genomic data. This has resulted in accelerated genomic research and more
effective diagnostics and treatment of diseases.
Global Analysis
North America leads the global Artificial Intelligence in Digital Genome market
with the highest share. This is due to high R&D investments by biotech and
pharmaceutical players in the region for precision medicine. In addition,
strong government support and presence of major industry players are fueling
market growth. Asia Pacific is projected to witness the fastest growth over the
forecast period with increasing adoption of AI-based tools for genetic research
and analysis in countries like China, India and Japan. Availability of large
patient pools and focus on development of cost-effective precision medicine
solutions are driving the APAC market.
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