The Global Artificial Intelligence in Genomics Market size accounted for USD 471 Million in 2021 and is estimated to reach USD 18,213 Million by 2030.

Increasing genomic data sets is the primary factor boosing the global artificial intelligence in genomics market revenue. The study of various genetic factors, as well as the impact of the environment on chronic diseases such as cancer and diabetes is aided by genomics. Thus, a prominent trend in artificial intelligence in the genomics market is the rising prevalence of chronic disorders. Large datasets are generated in the field of genomics, which is used in the discovery and development of new therapeutics. In this field of study, artificial intelligence (AI) is extremely useful because it reduces the time it takes to go from data to insight. As a result, the worldwide artificial intelligence in genomics market forecast that the industry will rise with a CAGR of 50.2% throughout the forecast timeframe 2022 – 2030.

Market Growth Drivers:

• Rising adoption of AI in precision medicine
• Need to control the time and costs of drug development and discovery
• Growing genomic datasets

Market Restraints:

• Lack of skilled AI workforce
• Ambiguous regulatory guidelines for medical software

Market Opportunities:

• Focus on developing human-aware AI systems
• Increasing investments in AI in genomics

Report Coverage

AI in Genomics Market Dynamics

The rising adoption of artificial intelligence in precision medicine is expanding the artificial intelligence in the genomics market value. Researchers are looking into cutting-edge technologies that can not only identify faulty DNA and mutations in the genome but also cut off or deactivate the problematic areas to treat health issues. Though genomics has allowed scientists to design such treatment methods, AI and, in particular, machine learning is allowing them to become more precise, as well as assisting in the reduction of the adverse effects of this groundbreaking treatment process.

Another major event that is fueling the market demand is the growing genomic datasets. AI is capable of correctly interpreting health data, particularly in its natural state as seen by humans. AI frameworks are easily adopted by clinical applications to enable the effective interpretation of large and complicated datasets. External health data is used to train AI systems, such as clinical images that have been labeled and interpreted by a human expert and have been minutely processed before being exposed to the AI system. The AI system then understands to perform the interpretation task on the latest health data of the same kinds, which is frequently the identification or prediction of a disease state in clinical diagnostics.

However, the lack of skilled AI professionals and ambiguous regulatory guidelines for medical software are some of the aspects that are limiting the market growth. Furthermore, surging investment in the AI genomics industry is expected to be a lucrative growth opportunity for the market to expand in the coming years. In addition to that, a growing emphasis on developing a human-aware AI system is anticipated to surge the demand for the market throughout the forecast timeframe from 2022 to 2030.

AI in Genomics Market Segmentation

The global artificial intelligence in genomics market segmentation is based on offering, technology, application, functionality, end-user, and region.

Market by Offering

• Software
• Services

Among the offering segment, software generated the largest AI in genomics market share throughout the forecast period. This is due to a wide range of benefits associated with on-premises software, including high data security, low risk of data breaches, and complete control over software upgrades and data storage. AI can take the form of software or tools that can imitate human intelligence in some situations and even outperform it in others. This factor is also supporting the software offering segment to grow with a significant rate.

Market by Technology

Machine Learning (ML)

• Deep Learning
• Reinforcement Learning
• Supervised Learning
• Unsupervised Learning
• Other Machine Learning Technologies

Other Technologies

According to our research, machine learning accounted for a significant portion of the technology segment's revenue. Pharmaceutical companies, biotechnology companies, and contract research organizations (CROs) have all adopted machine learning for drug genomics applications, contributing to the segment’s rapid growth. Machine learning is also useful in genomics in a variety of ways, including variant calling, genome annotation, and variant classification, as well as genetic diagnosis.

Market by Functionality

• Genome Sequencing
• Gene Editing
• Clinical Workflows
• Predictive Genetic Testing & Preventive Medicine

In 2021, genome sequencing gathered a considerable market share among the functionality segment. According to the National Human Genome Research Institute, the landmark completion of the draught human genome sequence took place 20 years ago in 2021. As a result of this achievement, a massive amount of genomic data has been generated. Within the next decade, genomics research is expected to produce between 2 and 40 exabytes of data, according to estimates. The field of genomics has not only seen a significant reduction in the cost of DNA sequencing, but it can now apply the science of DNA sequencing to practical medical applications.

Market by Application

• Agriculture & Animal Research
• Diagnostics
• Precision Medicine
• Drug Discovery & Development
• Other Applications

Artificial intelligence in genomics industry analysis suggests that the diagnostic application gained significant traction over years due to their widespread use in the healthcare industry. Additionally, the growing importance of disease research and the reducing cost of sequencing can be attributed to this segment's large share. AI-based computer vision techniques are poised to revolutionize image-based diagnostics in clinical diagnostics, whereas other AI subtypes have continued to understand similar promise in a variety of diagnostic modalities.

Market by End-User

• Pharmaceutical & Biotech Companies
• Healthcare Providers
• Academic Institutes, Research Centers, & Government Organizations
• Other End-Users

Among these, the pharmaceutical & biotech companies segment acquired the largest market share in 2021 and is expected to continue its trend throughout the projected years. AI is being used by businesses to improve decision-making and research and clinical trial efficiency, as well as to optimize innovation and create new tools for physicians, regulators, insurers, and consumers. However, the research centers, academic institutes, and government organizations segment is likely to attain a substantial growth rate in the coming future.

Artificial Intelligence in Genomics Market Regional Outlook