Artificial Intelligence in Genomics Market Size to Reach Revenues of USD 5724.45 Million by 2027 – GlobeNewswire

Chicago, Feb. 07, 2022 (GLOBE NEWSWIRE) -- The artificial intelligence in genomics market is expected to grow at a CAGR of over 48.44% during the period 20212027.

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Artificial Intelligence in Genomics Market Segmentation

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Artificial Intelligence in Genomics Market Dynamics

More recently, the formation of DNA biobanks, which are collaborative repositories of genome sequences, and the growth of direct-to-consumer genetics testing companies such as 23andMe have increased the explosion of genomic data. Top healthcare investors, such as Sequoia Capital and Deerfield Management, acknowledge that data has unlocked considerable commercial opportunities across healthcare verticals. In 2017, liquid biopsy company GRAIL raised USD 914 million in its Series B round led by Smart Money VC ARCH Venture Partners and including Johnson & Johnson to continue product development and validation for its early-stage cancer detection blood tests. A number of genomic-focused companies have shown favorable returns. This can be exemplified by the MSCI ACWI Genomic Innovation Index, which has overtaken the standard by nearly 50% since 2013.

Key Drivers and Trends fueling Market Growth:

Artificial Intelligence in Genomics Market Geography

North America accounted for a share of 45.19% in the global AI in genomics market in 2021. Post the human genome project, and multiple initiatives have been made across countries such as the US to sequence numerous patients with new targeted diseases. Also, with technological advances the cost of sequencing has been reduced in the market. This has increased patient interest in personal genomic sequencing for future personalized treatments, lifestyle, nutritional study, and other genomics studies. North America is one of the largest AI markets across the globe and is leading the way for other countries to increase the use of AI in the field of genomics and diagnosis in the medical sector. Countries such as Canada and the US are the major revenue contributors in North America. The AI in genomics market is expected to increase in North America due to the growing adoption of AI in genome sequencing and rising awareness among the regional pharma and biotech companies.

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Artificial Intelligence in Genomics Market Size to Reach Revenues of USD 5724.45 Million by 2027 - GlobeNewswire