The AI in Genomics market is anticipated to grow at a significant CAGR of 50.2% during the forecast period (2022-2028). Several advances conducted in the field of pharmaceutical and artificial intelligence (AI) which is likely to boost the growth of the global AI in the genomics market. For instance, in November 2020, Dell Technologies announced new Dell EMC Ready Solutions and high-performance computing(HPC), cloud service provider collaboration to accelerate AI and advanced computing innovation in healthcare, life science, and manufacturing. Moreover, it is specifically designed for bioinformatics and workload management that provides assistance to process complex genomics data faster for personalized treatment of diseases. Moreover, in March 2022, Fabric Genomics Inc. unveiled that the Broad Insitute of MIT and Harvard has selected the company to support the development and implantation of its clinical whole genome sequencing-based offerings. Under the agreement, Fabric Genomics provides AI-based platforms that are used to support the interpretation of clinical whole gnomes and generate patient reports.
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Additionally, the funding provided by the government for promoting genomic sequencing is one of the major factors that boost market growth. For instance, in April 2021, the US government funded $240 million to expand the capacity for genomic sequencing. In addition, the government also allocated $400 million that is used to establish six centers of excellence in genomic epidemiology. These centers mainly focus on developing new genomics surveillance tools to better track pathogens for public health.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
AI in Genomics Market Report by Segment
By Delivery Mode
- On-Premise
- Cloud-Based
By Functionality
- Genome Sequencing
- Gene Editing
By Application
- Translational Precision Medicine
- Clinical and Genomic Diagnosis
- Others
By End-User
- Pharmaceutical and Biotechnology Companies
- Research Centers, Academic Institutes, and Government Organizations
- Others
AI in Genomics Market Report by Region
North America
- US
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the AI in Genomics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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