AI in Genomics Market To Grow With Tremendous CAGR of 49.7% in Coming Years, says P&S Intelligence – PR Newswire

NEW YORK, April 22, 2022 /PRNewswire/ --TheAI in genomics marketis expected to reach $19,596.2 million by 2030 from an estimated $519.0 million in 2021, at a CAGR of 49.7% from 2021 to 2030. The key factors leading to the market growth include the emergence of startups in the field and advancing size of genomics research data sets due to the extensive R&D activities. As per predictions, genomics research will generate an astonishing 2 to 40 exabytes of data in the coming 10 years.

Thus, key players in the AI in genomics market are actively collaborating for R&D on new areas, to analyze different versions of datasets, for identifying rare genetic diseases. Such organizations include Microsoft Corporation, IBM Corporation, NVIDIA Corporation, Deep Genomics, BenevolentAI, Fabric Genomics Inc., Verge Genomics, MolecularMatch Inc., LIfebit, and DNAexus Inc.

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Key Findings of AI in Genomics Market Report

Pharma and biotech companies have garnered the highest AI in genomics market revenue till now, and these end users are expected to retain their position in the coming years. They are using AI for enhancing decision-making and the efficiency of research and clinical trials, along with optimizing inventions and developing new tools for regulators, insurers, physicians, and consumers.

Browse detailed report on Global Artificial Intelligence In Genomics Market Size and Growth Forecast to 2030

The pandemic led to the expansion of the overall AI industry all over the world; however, sectors connected to COVID-19 saw a rather powerful growth in investments, of 44% in 2020, compared to the 12% growth of 2019. This was because AI-driven genomics had become instrumental in identifying the strains of the virus initially, which helped the healthcare community predict mutations.

AI in Genomics Market Segmentation Analysis

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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AI in Genomics Market To Grow With Tremendous CAGR of 49.7% in Coming Years, says P&S Intelligence - PR Newswire