July 25, 2024
Artificial Intelligence In Digital Genome Market

The Adoption Of Artificial Intelligence In Healthcare Is Anticipated To Open Up New Avenue For Artificial Intelligence In Digital Genome Market

Market Overview:

The artificial intelligence in digital genome market involves the application of AI technologies like machine learning and deep learning to analyze genomic data and help discover new associations between genetic variants and disease. AI tools are being utilized for genome assembly, variant calling, protein structure prediction, and drug discovery efforts. Some key uses of AI in genomics include predicting disease risks, precision medicine, biomarker development, and tumor heterogeneity analysis. AI can also accelerate genomics research by discovering patterns in large genomic datasets that would otherwise be difficult to identify manually.

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 Dynamics:

Growing adoption of precision medicine and genomic testing is a major driver for the artificial intelligence in digital genome market. Precision medicine tailors medical treatment to individual patients based on their genetic makeup and molecular profile. AI plays a vital role in precision medicine by helping correlate disease phenotypes to their underlying genomic variations. In addition, the growing availability of large genomic and health datasets is fueling the development of more advanced AI models with higher predictive powers. Researchers are leveraging such datasets to train neural networks that can predict drug responses, disease subtypes, and clinical outcomes with high accuracy. The use of AI for genomic research is expected to accelerate the discovery of novel diagnostic markers and therapeutic targets.

Segment Analysis

The global Artificial Intelligence In Digital Genome Market can be segmented into sequencing & data interpretation, personalized diagnosis, drug discovery and others. Among these, the sequencing & data interpretation segment dominates the market and is expected to continue its dominance over the forecast period. This is mainly because artificial intelligence helps in expediting the DNA sequencing process and improves accuracy of data interpretation.

PEST Analysis

Political: Governments across countries are introducing supportive policies and regulations to promote the adoption of AI technologies in the healthcare sector. This is expected to boost the growth of AI in digital genome market.
Economic: The market is expected to witness high growth due to increasing investments by companies in genomic research and AI. Continuous declining DNA sequencing cost is also fueling the market growth.
Social: Increasing awareness about precision medicine and growing acceptance of AI-based technologies among consumers is driving the demand for AI in digital genome applications.
Technological: Advancements in machine learning and big data analytics are enabling development of more effective AI algorithms for genomic research. Integration of AI with digital genomic data is also facilitating drug discovery and diagnostics processes.

Key Takeaways

The global Artificial Intelligence In Digital Genome Market is expected to witness high growth, exhibiting CAGR of 44.% over the forecast period, due to increasing investments in genomic research and advancement of AI and machine learning technologies.

The North America region is expected to dominate the market over the forecast period. This is attributed to strong presence of AI companies and major genomic research institutes in the US and Canada. In addition, rising healthcare expenditure and growing adoption of precision medicine in the region is expected to fuel market growth.

The Asia Pacific region is likely to exhibit the fastest growth during 2023-2030. This is mainly due to increasing government focus on strengthening healthcare infrastructure, rising disposable income, and growing penetration of AI technologies in countries like China, India and Japan.

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. The companies are focusing on developing new AI-powered algorithms and platforms for various genomic applications like diagnostics and therapeutics development.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it