The Worldwide Artificial Intelligence in Genomics Industry is Expected to Reach $1.6 Billion by 2025 – PRNewswire

DUBLIN, March 25, 2021 /PRNewswire/ -- The "Artificial Intelligence In Genomics Market by Offering (Software, Services),Technology (Machine Learning, Computer Vision), Functionality (Genome Sequencing, Gene Editing), Application (Diagnostics), End User (Pharma, Research)-Global Forecasts to 2025" report has been added to ResearchAndMarkets.com's offering.

The global AI in genomics market is projected to reach USD 1,671 million by 2025 from USD 202 million in 2020, at a CAGR of 52.7% between 2020 and 2025.

The need to control drug development and discovery costs and time, increasing public and private investments in AI in genomics, and the adoption of AI solutions in precision medicine are driving the growth of this market. However, the lack of a skilled AI workforce and ambiguous regulatory guidelines for medical software are expected to restrain the market growth during the forecast period.

Machine learning segment is expected to grow at the highest rate during the forecast period

Based on technology, the AI in genomics market is segmented into machine learning and other technologies. The machine learning segment is projected to register a higher CAGR during the forecast period. The high growth rate of this segment is mainly as pharmaceutical companies, CROs, and biotechnology companies have widely adopted machine learning for drug genomics applications. This is because machine learning can extract insights from data sets, accelerating genomic research.

Diagnostics segment is estimated to account for the largest share of the AI in genomics market in 2019

Based on application, the AI in genomics market is segmented into diagnostics, drug discovery &development, precision medicine, agriculture & animal research, and other applications. Diagnostics was the largest application segment in the AI in genomics market in 2019. The large share of this segment can be attributed to the increasing research on diseases and the decreasing cost of sequencing.

North America is expected to dominate the AI in genomics market in 2020

In 2019, North America accounted for the largest share of the AI in genomics market, followed by Europe. The large share of North America can be attributed to the increasing research funding and government initiatives for promoting precision medicine in the US. The market in the Asia Pacific region, on the other hand, is projected to register the highest CAGR during the forecast period. Emerging countries in the APAC, such as India and China, offer lucrative growth opportunities for market players, primarily due to the increasing public and private funding, improving healthcare infrastructure, and rapid economic growth.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights4.1 AI in Genomics: Market Overview4.2 AI in Genomics Market, by End-user4.3 North America: AI in Genomics Market, by Technology & Country (2019)4.4 Geographical Snapshot of the AI in Genomics Market

5 Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Need to Control the Time and Costs of Drug Development and Discovery5.2.1.2 Increasing Investments in AI in Genomics5.2.1.3 Rising Adoption of AI in Precision Medicine5.2.1.4 Growing Genomic Datasets5.2.2 Restraints5.2.2.1 Lack of Skilled AI Workforce and Ambiguous Regulatory Guidelines for Medical Software5.2.3 Opportunities5.2.3.1 Focus on Developing Human-Aware AI Systems5.2.4 Challenges5.2.4.1 Lack of Curated Genomic Data5.2.4.2 Data Privacy Concerns5.3 Impact of COVID-19 on the AI in Genomics Market5.4 Ecosystem

6 Artificial Intelligence in Genomics Market, by Offering6.1 Introduction6.2 Software6.2.1 Benefits Offered by Software & Strong Demand Among End-users Are Driving Market Growth6.3 Services6.3.1 Services Segment to Witness the Highest Growth During the Forecast Period

7 Artificial Intelligence in Genomics Market, by Technology7.1 Introduction7.2 Machine Learning7.2.1 Deep Learning7.2.1.1 Deep Learning is the Fastest-Growing and Largest Subsegment of Machine Learning7.2.2 Supervised Learning7.2.2.1 Supervised Learning Can Help Create Predictive Models7.2.3 Reinforcement Learning7.2.3.1 APAC to Show the Highest Growth in the Reinforcement Learning Market7.2.4 Unsupervised Learning7.2.4.1 Unsupervised Learning Algorithms Allow for Complex Processing Tasks, Exceeding the Capabilities of Supervised Systems7.2.5 Other Machine Learning Technologies7.3 Other Technologies

8 Artificial Intelligence in Genomics Market, by Functionality8.1 Introduction8.2 Genome Sequencing8.2.1 Genome Sequencing Holds the Largest Share of the Market, by Functionality8.3 Gene Editing8.3.1 Growing Implementation of Machine Learning in Gene Editing May Help Reduce Time and Costs8.4 Clinical Workflows8.4.1 Machine Learning Can Help Increase the Efficiency of the Clinical Workflow8.5 Predictive Genetic Testing & Preventive Medicine8.5.1 AI in Genomics Can Predict Outcomes and the Risks Associated in Curing Genetic Diseases, Based on the Available Data

9 Artificial Intelligence in Genomics Market, by Application9.1 Introduction9.2 Diagnostics9.2.1 Diagnostics Forms the Largest and Fastest-Growing Application Segment of the AI in Genomics Market9.3 Drug Discovery & Development9.3.1 Growing Application of AI in Genomics in Drug Discovery & Development to Propel Market Growth9.4 Precision Medicine9.4.1 Precision Medicine Focuses on Identifying the Most Effective Medical Treatments for Patients9.5 Agriculture & Animal Research9.5.1 AI in Genomics Helps in Improving the Productivity of Crops and Livestock9.6 Other Applications

10 Artificial Intelligence in Genomics Market, by End-user10.1 Introduction10.2 Pharmaceutical & Biotechnology Companies10.2.1 Rising Demand for Solutions to Cut Time and Costs of Drug Development Have Drawn End-User Attention to AI in Genomics10.3 Research Centers, Academic Institutes, & Government Organizations10.3.1 Rising Research Activity to Drive the Usage of AI in Genomics Systems Among Academic & Government Institutes10.4 Healthcare Providers10.4.1 Increasing Demand for Pharmacogenomics to Drive the Acceptance of Ngs in Hospitals10.5 Other End-users

11 Artificial Intelligence in Genomics Market, by Region11.1 Introduction11.2 North America11.2.1 US11.2.1.1 The US Dominates the North American AI in Genomics Market11.2.2 Canada11.2.2.1 Increasing Research in Genomics to Drive Market Growth11.3 Europe11.3.1 UK11.3.1.1 UK to Register the Highest CAGR in the European Market During the Forecast Period11.3.2 Germany11.3.2.1 Availability of Funding for AI Initiatives to Boost the Market Growth in Germany11.3.3 France11.3.3.1 Increasing Government Investments in Genomics to Boost the Growth of the French Market11.3.4 RoE11.4 Asia-Pacific11.4.1 Efforts to Develop It Infrastructure Will Drive the Market for AI in the APAC11.5 RoW

12 Competitive Landscape12.1 Overview12.2 AI in Genomics Market: Ranking Analysis (2019)12.3 Competitive Scenario (2018-2020)12.3.1 Key Agreements, Contracts, and Partnerships (2018-2020)12.3.2 Key Product Launches (2018-2020)12.3.3 Key Expansions (2018-2020)12.3.4 Key Acquisitions (2018-2020)12.4 Competitive Leadership Mapping12.5 Vendor Inclusion Criteria12.5.1 Stars12.5.2 Emerging Leaders12.5.3 Pervasive Players12.5.4 Emerging Companies

13 Company Profiles13.1 IBM13.2 Nvidia13.3 Microsoft Corporation13.4 Deep Genomics13.5 BenevolentAI13.6 Fabric Genomics13.7 Verge Genomics13.8 Freenome Holdings13.9 Molecularmatch13.10 Cambridge Cancer Genomics13.11 Sophia Genetics13.12 Data4Cure13.13 Precisionlife13.14 Genoox13.15 Lifebit13.16 Diploid13.17 Fdna13.18 DNAnexus13.19 Empiric Logic13.20 Engine Biosciences

14 Appendix14.1 Discussion Guide14.2 Available Customizations14.3 Related Reports14.4 Author Details

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The Worldwide Artificial Intelligence in Genomics Industry is Expected to Reach $1.6 Billion by 2025 - PRNewswire