AI in Genomics Market Size is anticipated to generate $9.8 billion by 2031

PORTLAND, OREGON, UNITED STATES, June 14, 2024 /EINPresswire.com/ -- According to the report, the global AI in genomics industry generated $346.3 million in 2021, and is anticipated to generate $9.8 billion by 2031, witnessing a CAGR of 40.6% from 2022 to 2031.

The rise in applications of AI in drug discovery and development coupled with the advancements in artificial intelligence technology drive the growth of the global AI in genomics market. However, limited availability of skilled professionals and data quality issues restrict the market growth.

Request Sample Copy of Report: https://www.alliedmarketresearch.com/request-sample/11921

Economic Factors:

The outbreak of the Covid-19 pandemic had a negative impact on the global AI in genomics market, as it disrupted workflows in the healthcare sector around the world during the lockdown.

The disease had forced several industries to shut down temporarily, including several sub-domains of the healthcare sector. The pandemic reduced
accessibility to the research centers and offices which delayed the development in AI programs.

However, AI-driven diagnostics emerged as great solution for quick diagnosis of the disease.

Key Takeaways:

The machine learning segment to maintain its leadership status throughout the forecast period

The software segment to maintain its leadership status throughout the forecast period

The pharmaceutical and biotech companies segment to maintain its lead position during the forecast period

North America to maintain its dominance by 2031

Major Factors Driving the AI in Genomics Market:

Machine Learning and Deep Learning: Advanced AI algorithms such as machine learning and deep learning are critical for analyzing complex genomic data, leading to significant insights in disease understanding and drug discovery.

Computational Power: Improvements in computational power and hardware, such as GPUs and TPUs, enable the processing of large genomic datasets efficiently.

Cloud Computing: The adoption of cloud platforms facilitates scalable storage and computation, essential for handling genomic data.

Next-Generation Sequencing (NGS): The proliferation of NGS technologies has dramatically lowered the cost and increased the speed of genomic sequencing, resulting in an explosion of genomic data.

Biobanks and Databases: The growth of biobanks and genomic databases provides vast datasets for AI algorithms to analyze, enhancing their learning and predictive capabilities.

Procure Complete Report: https://www.alliedmarketresearch.com/purchase-enquiry/11921

Market Segmentation:

Technology: This segmentation is based on the different AI technologies used in genomics applications. It may include machine learning, deep learning, natural language processing (NLP), computer vision, and other AI techniques specifically tailored for genomics data analysis.

Application: This segmentation focuses on the specific areas where AI is applied in genomics. It can include drug discovery and development, precision medicine, genomic sequencing and genotyping, diagnostics and disease risk assessment, biomarker discovery, gene expression analysis, and others.

End User: This segmentation categorizes the market based on the end users of AI in genomics. It may include pharmaceutical and biotechnology companies, research and academic institutions, healthcare providers, diagnostic laboratories, and contract research organizations (CROs).

Workflow Stage: This segmentation considers the different stages of the genomics workflow where AI is applied. It may include data preprocessing and quality control, data analysis and interpretation, variant calling and annotation, pathway analysis, and clinical decision support.

Geography: This segmentation divides the market based on regional or global geographic regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. It helps to understand regional market trends, adoption rates, and regulatory landscapes.

Request for Customization – https://www.alliedmarketresearch.com/request-for-customization/11921

Leading Market Players: -

IBM Corporation,
Deep Genomics,
Thermo Fisher Scientific Inc.,
Illumina, Inc.,
Data4Cure, Inc,
BenevolentAI,
Microsoft Corporation,
NVIDIA Corporation (Mellanox Technologies),
Sophia Genetics,
Freenome Holdings, Inc

CUSTOMIZATION OPTIONS:

Distributor Landscape Assessment
Pricing Intelligence
Customer Base Assessment
Investment & Initiatives Analysis
‘Business Profile’ of Key Players

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.