Global Artificial Intelligence in Genomics market is expected to grow at a CAGR of 53% during 2023-28

According to the MarkNtel Advisors' research report, "Global Artificial Intelligence in Genomics Market Analysis, 2023," the market is expected to grow at a CAGR of 53% during 2023-28.

The mounting need to control drug development costs and time and rising investments in AI in genomics have aided the market. Burgeoning adoption of artificial intelligence by the healthcare industry due to a large amount of biological and clinical data.

AI analysis this large pool of data to discover and develop new therapeutics globally. Further, the surge in demand for minimizing the soaring healthcare costs has boosted Global Artificial intelligence in the genomics market. However, the lack of a skilled workforce to deal with artificial intelligence could hinder the market growth to a certain extent. 

Key questions answered in the study

1. What are the current & future trends in Global Artificial Intelligence in the Genomics market? 
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for Global Artificial Intelligence in the Genomics market?
5. What are the customer orientation, purchase behavior, and expectations from the Global Artificial Intelligence in Genomics market service providers across various regions?

Diagnostic Segment Dominates the Market 

Within Application, the market is into Diagnostics, Drug Discovery & Development, Precision Medicine, Agriculture & Animal Research, and Other Applications. In 2019, the diagnostic segment acquired the largest share in the Global Artificial Intelligence in Genomics Market owing to the rising adoption of advanced technologies like AI to diagnose diseases such as cancer and diabetes. The snowballing research activities for the diagnosis of diseases and to decrease the cost of sequencing are the key propellers over the forecast period. 

"Global Artificial Intelligence in Genomics Market Analysis, 2023" offers comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Artificial Intelligence in Genomics providers across the globe.

Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing measuring competitors' capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

Asia-Pacific Exhibits Fastest Growth

The Asia-Pacific market is likely to register the fastest growth in the Global Artificial Intelligence in Genomics market during 2021-26 due to rapid economic growth and an increase in private & public funding to improvise the healthcare infrastructure in emerging countries like China and India.

Further, the surging adoption of AI in precision medicine is backing the market growth. Thereby, the region can contribute to Global Artificial Intelligence in the Genomics market in the forecast period, says MarkNtel Advisors in their research report on "Global Artificial Intelligence in Genomics Market Analysis, 2021."

According to MarkNtel Advisors, the major leading players in the global Artificial Intelligence in the Genomics market are IBM., Nvidia, Deep Genomics, BenevolentAI limited, Verge Genomics, Molecularmatch, Sophia Genetics, Genoox, FDNA, Empiric Logic, etc.

Market Segmentation:

1. By Offering (Software, Services)
2. By Technology (Machine Learning (Deep Learning, Supervised Learning, Reinforcement Learning, Unsupervised Learning), Others)
3. By Functionality (Genome Sequencing, Gene Editing, Clinical Workflows, Predictive Genetic Testing & Preventive Medicine)
4. By Application (Diagnostics, Drug Discovery & Development, Precision Medicine, Agriculture & Animal Research, Other Applications)
5. By End-User (Pharmaceutical & Biotech Companies, Healthcare Providers, Research Centers, Academic Institutes, Government Organizations, Other End Users)
6. By Region (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
7. By Country (U.S, Canada, Brazil, Mexico, Germany, France, The U.K, Spain, Italy, China, India, Japan, Australia, Saudi Arabia, South Africa)
8. By Competitors (IBM., Nvidia, Deep Genomics, BenevolentAI limited, Verge Genomics, Molecularmatch, Sophia Genetics, Genoox, FDNA, Empiric Logic, etc.)