Artificial Intelligence In Genomics Market 2028 By Offering, Technology, Functionality, Application, End-User and Geography | The Insight Partners

MARKET OVERVIEW

Genomics refers to the study of genomes. It is a complete set of DNA, including all the genes of an individual. Artificial intelligence is the progression of computer systems capable of performing tasks that generally require human intelligence. The field of genomics generates large datasets that are utilized in the making of potential new therapeutics. Artificial Intelligence in genomics is widely used to develop and discover drugs for curing rare diseases. It accelerates the time taken to find novel therapies. It utilizes DNA sequencing methods, recombinant DNA, and bioinformatics to assemble, analyze, and sequence the structure and function of genomes. It helps to predict an individual's probability of developing certain diseases or inform potential therapy design.

MARKET SCOPE

The "Global Artificial Intelligence in Genomics Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the artificial intelligence in genomics market with detailed market segmentation by offerings, technology, functionality, application, end user, and geography. The report provides key statistics on the market status of the leading artificial intelligence in genomics market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•  Based on offerings, the global artificial intelligence in genomics market is segmented into software, and services.
  
•  On the basis of technology, the market is bifurcated into machine learning, computer vision and other technologies.
  
•  On the basis of functionality, the market is segmented into genome sequencing, gene editing, clinical workflows, and predictive genetic testing & preventive medicine.
  
•  On the basis of application, the market is bifurcated into diagnostics, drug discovery & development, precision medicine, agriculture & animal research, other applications.
  
•  On the basis of end-users, the market is bifurcated into pharmaceutical & biotech companies, healthcare providers, research centers, academic institutes & government organizations, and other.
  

MARKET DYNAMICS
Drivers

•  The need to control costs and time of drug development and discovery and increasing public and private funding in AI in genomics are factors driving the growth of artificial intelligence in the genomics market.
  
•  Increasing incidences of diseases such as cancer, diabetes and the rising adoption of AI solutions in precision medicine boost the market growth.
  
•  The growing research and development activities for developing advanced treatment and government initiatives to promote medicines propel the market growth.
  
•  The improving healthcare infrastructure and rapid economic growth in developing countries favor the growth of the market.
  

Restraints

•  The lack of a skilled AI workforce.
  
•  Ambiguous regulatory guidelines for medical software.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The artificial intelligence in genomics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the artificial intelligence in genomics market in these regions.

IMPACT OF COVID-19 ON ARTIFICIAL INTELLIGENCE IN GENOMICS MARKET

COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The early sequencing of the genome of different coronavirus strains was not timely done, and still, many aspects of disease behavior are unknown. The use of artificial intelligence methods has potentially accelerated the process of finding actionable insights and eventually contribute to a better global response. The outbreak has accelerated the use of AI technology in industries. The development of new artificial intelligence models and genomic sequencing software help healthcare researchers and hospitals fight with the pandemic faster. Healthcare professionals have tried to diagnose the severity of coronavirus infection with the help of existing genetic databases and research. With the use of AI in genomics, the genomes derived data can identify Covid-19 complications. Further, the adoption of AI in genomics to diagnose various strains and drug development will lead to the market's sustainable growth.

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MARKET PLAYERS

The report covers key developments in the artificial intelligence in genomics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from artificial intelligence in genomics market are anticipated to have lucrative growth opportunities in the future with the rising demand for artificial intelligence in genomics in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the artificial intelligence in genomics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•  Onvidia
  
•  Deep Genomics
  
•  DNAnexus
  
•  Empiric Logic
  
•  Engine Biosciences
  
•  Fabric Genomics
  
•  Microsoft Corporation
  
•  Diploid
  
•  Molecularmatch
  
•  Cambridge Cancer Genomics
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

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