by Market Overview:
The Artificial Intelligence In Digital Genome Market deals with applications of artificial intelligence in analyzing genome data obtained from sequencing technologies. AI helps in interpretation of large and complex genome data,drug discovery and precision medicine.
The global Artificial Intelligence In Digital Genome Market is estimated to be valued at US$ 565.69 Mn in 2023 and is expected to exhibit a CAGR of 44.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the Artificial Intelligence In Digital Genome Market is the use of machine learning and deep learning techniques for analyzing genomic data at an unprecedented scale and speed. Tools based on these techniques help in identification of genetic variation influencing diseases, prediction of protein structure and potential new drug targets, thereby accelerating precision medicine initiatives. These AI-powered tools are being integrated into core workflows of pharmaceutical and biotech companies to boost drug discovery and development processes.
SWOT Analysis
Strength: Artificial intelligence technologies can help analyze huge amounts of genomic data and identify patterns faster. AI tools are also being developed to streamline disease diagnostics and drug discovery based on a person’s DNA.
Weakness: Integration of AI and genomics is still an emerging field. Lack of standards and limited data availability are hindering progress. Regulatory and ethical issues regarding the use of genetic data also need to be addressed.
Opportunity: The increasing volumes of genomic and genetic data from sequencing projects present a big opportunity to apply AI for applications like precision medicine. This can potentially revolutionize healthcare by enabling customized treatment based on individual genetics.
Threats: Concerns around data privacy, security, and potential misuse of genetic information can slow down research and adoption of AI-based genomic technologies. Competitive threats also exist from alternative approaches that do not involve linking genetics to identifiable individuals.
Key Takeaways
The global Artificial Intelligence In Digital Genome Market is expected to witness high growth, exhibiting a CAGR of 44% over the forecast period, due to increasing demand for precision medicine applications based on an individual’s genomic data.
Regional analysis: North America is currently the largest and fastest growing regional market for AI in genomics due to heavy investments in research. However, Asia Pacific is also emerging as a major hub with countries like China carrying out large-scale genome sequencing projects and applying AI.
Key players operating in the Artificial Intelligence In Digital Genome market are NVIDIA Corporation, IBM, Microsoft, Fabric Genomics Inc., Verge Genomics, MolecularMatch Inc., SOPHiA GENETICS, PrecisionLife Ltd, BenevolentAI, and Deep Genomics. These players are offering an array of computational tools and cloud-based platforms that leverage deep learning and other AI techniques for genomic data processing. Various partnerships have also been formed between AI and genomics firms to advance this interdisciplinary field.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
