Dublin, March 26, 2021 (GLOBE NEWSWIRE) -- 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 Insights
4.1 AI in Genomics: Market Overview
4.2 AI in Genomics Market, by End-user
4.3 North America: AI in Genomics Market, by Technology & Country (2019)
4.4 Geographical Snapshot of the AI in Genomics Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need to Control the Time and Costs of Drug Development and Discovery
5.2.1.2 Increasing Investments in AI in Genomics
5.2.1.3 Rising Adoption of AI in Precision Medicine
5.2.1.4 Growing Genomic Datasets
5.2.2 Restraints
5.2.2.1 Lack of Skilled AI Workforce and Ambiguous Regulatory Guidelines for Medical Software
5.2.3 Opportunities
5.2.3.1 Focus on Developing Human-Aware AI Systems
5.2.4 Challenges
5.2.4.1 Lack of Curated Genomic Data
5.2.4.2 Data Privacy Concerns
5.3 Impact of COVID-19 on the AI in Genomics Market
5.4 Ecosystem
6 Artificial Intelligence in Genomics Market, by Offering
6.1 Introduction
6.2 Software
6.2.1 Benefits Offered by Software & Strong Demand Among End-users Are Driving Market Growth
6.3 Services
6.3.1 Services Segment to Witness the Highest Growth During the Forecast Period
7 Artificial Intelligence in Genomics Market, by Technology
7.1 Introduction
7.2 Machine Learning
7.2.1 Deep Learning
7.2.1.1 Deep Learning is the Fastest-Growing and Largest Subsegment of Machine Learning
7.2.2 Supervised Learning
7.2.2.1 Supervised Learning Can Help Create Predictive Models
7.2.3 Reinforcement Learning
7.2.3.1 APAC to Show the Highest Growth in the Reinforcement Learning Market
7.2.4 Unsupervised Learning
7.2.4.1 Unsupervised Learning Algorithms Allow for Complex Processing Tasks, Exceeding the Capabilities of Supervised Systems
7.2.5 Other Machine Learning Technologies
7.3 Other Technologies
8 Artificial Intelligence in Genomics Market, by Functionality
8.1 Introduction
8.2 Genome Sequencing
8.2.1 Genome Sequencing Holds the Largest Share of the Market, by Functionality
8.3 Gene Editing
8.3.1 Growing Implementation of Machine Learning in Gene Editing May Help Reduce Time and Costs
8.4 Clinical Workflows
8.4.1 Machine Learning Can Help Increase the Efficiency of the Clinical Workflow
8.5 Predictive Genetic Testing & Preventive Medicine
8.5.1 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 Application
9.1 Introduction
9.2 Diagnostics
9.2.1 Diagnostics Forms the Largest and Fastest-Growing Application Segment of the AI in Genomics Market
9.3 Drug Discovery & Development
9.3.1 Growing Application of AI in Genomics in Drug Discovery & Development to Propel Market Growth
9.4 Precision Medicine
9.4.1 Precision Medicine Focuses on Identifying the Most Effective Medical Treatments for Patients
9.5 Agriculture & Animal Research
9.5.1 AI in Genomics Helps in Improving the Productivity of Crops and Livestock
9.6 Other Applications
10 Artificial Intelligence in Genomics Market, by End-user
10.1 Introduction
10.2 Pharmaceutical & Biotechnology Companies
10.2.1 Rising Demand for Solutions to Cut Time and Costs of Drug Development Have Drawn End-User Attention to AI in Genomics
10.3 Research Centers, Academic Institutes, & Government Organizations
10.3.1 Rising Research Activity to Drive the Usage of AI in Genomics Systems Among Academic & Government Institutes
10.4 Healthcare Providers
10.4.1 Increasing Demand for Pharmacogenomics to Drive the Acceptance of Ngs in Hospitals
10.5 Other End-users
11 Artificial Intelligence in Genomics Market, by Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 The US Dominates the North American AI in Genomics Market
11.2.2 Canada
11.2.2.1 Increasing Research in Genomics to Drive Market Growth
11.3 Europe
11.3.1 UK
11.3.1.1 UK to Register the Highest CAGR in the European Market During the Forecast Period
11.3.2 Germany
11.3.2.1 Availability of Funding for AI Initiatives to Boost the Market Growth in Germany
11.3.3 France
11.3.3.1 Increasing Government Investments in Genomics to Boost the Growth of the French Market
11.3.4 RoE
11.4 Asia-Pacific
11.4.1 Efforts to Develop It Infrastructure Will Drive the Market for AI in the APAC
11.5 RoW
12 Competitive Landscape
12.1 Overview
12.2 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 Mapping
12.5 Vendor Inclusion Criteria
12.5.1 Stars
12.5.2 Emerging Leaders
12.5.3 Pervasive Players
12.5.4 Emerging Companies
13 Company Profiles
13.1 IBM
13.2 Nvidia
13.3 Microsoft Corporation
13.4 Deep Genomics
13.5 BenevolentAI
13.6 Fabric Genomics
13.7 Verge Genomics
13.8 Freenome Holdings
13.9 Molecularmatch
13.10 Cambridge Cancer Genomics
13.11 Sophia Genetics
13.12 Data4Cure
13.13 Precisionlife
13.14 Genoox
13.15 Lifebit
13.16 Diploid
13.17 Fdna
13.18 DNAnexus
13.19 Empiric Logic
13.20 Engine Biosciences
14 Appendix
14.1 Discussion Guide
14.2 Available Customizations
14.3 Related Reports
14.4 Author Details
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