Abstract
Summary
The artificial intelligence (AI) in genomics market is anticipated to grow from an estimated USD 0.5 billion in 2023 to USD 2.0 billion in 2028, at a CAGR of 32.3% during the forecast period. The market has a promising growth potential due to the need to accelerate processes and timeline and reduce drug development and discovery, and improving computing power and declining hardware cost among other factors. However, the lack of curated genomic data and data privacy concerns are expected to limit the growth of this market to a certain extent.
“Deep learning: The fastest-growing segment of the artificial intelligence (AI) in genomics market for machine learning, by type“
The deep learning segment is expected to witness the fastest growth in the infection surveillance services market during the forecast. Deep learning methods have dominated computational modeling strategies in genomics, where they are used to address a variety of questions ranging from the understanding of protein binding from DNA sequences, epigenetic modifications, predicting gene expression from epigenetic marks, or predicting the methylation state of single cells. The growing demand for accelerated genome sequencing analysis workflows and the need to improve the function of gene editing tools is expected to propel market growth.
“The genome sequencing segment is anticipated to be the largest artificial intelligence (AI) in genomics market, by functionality, during the forecast period”
Based on functionality, the market is segmented into genome sequencing, gene editing, clinical workflows, and predictive genetic testing & preventive medicine. The genome sequencing segment accounted for the largest share of the artificial intelligence (AI) in genomics market. The large share of this segment can be attributed to the use of AI solutions to identify chromosomal disorders, dysmorphic syndromes, teratogenic disorders, and single-gene disorders.
“Europe accounted for the second-largest share in the artificial intelligence (AI) in genomics market during the forecast period”
Europe accounted for the second-largest share of the artificial intelligence (AI) in genomics market during the forecast period. The major drivers of market growth are the increasing adoption of AI-based tools in genomic research and drug discovery, favorable government initiatives, growing EMR adoption, increasing patient data volume, increasing venture capital funding, rising healthcare expenditure, and growing geriatric population. Moreover, the potential for AI in advancing R&D activities has also attracted attention to this sector.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–40%, Tier 2–35%, and Tier 3–25%
• By Designation – C-level–35%, Director-level–25%, Others–40%
• By Region – North America–45%, Europe–30%, Asia Pacific–20%, and Rest of the World–5%
Key players in the Artificial intelligence (AI) in genomics Market
The key players operating in the artificial intelligence (AI) in genomics market include NVIDIA Corporation (US), Microsoft Corporation (US), Google, Inc. (US), Intel Corporation (US), BenevolentAI (UK), SOPHiA GENETICS (Switzerland), Illumina, Inc. (US), Predictive Oncology, Inc. (US), Invitae Corporation (US), Deep Genomics, Inc. (Canada), Fabric Genomics, Inc. (US), Verge Genomics (US), Freenome Holdings, Inc. (US), MolecularMatch, Inc. (US), Dante labs (US), Data4Cure (US), PrecisionLife Ltd (UK), Genoox (US), Lifebit (UK), FDNA, Inc. (US), DNAnexus (US), Engine Biosciences (US), Tempus Labs, Inc. (US), Congenica Ltd (England), Emedgene, Inc. (US), and Seragon Pharmaceuticals, Inc. (US).
Research Coverage:
The report analyzes the artificial intelligence (AI) in genomics market and aims at estimating the market size and future growth potential of this market based on various segments such as offering, technology, functionality, application, end user, and region. The report also includes a product portfolio matrix of various artificial intelligence (AI) in genomics products & services available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global artificial intelligence (AI) in genomics market. The report analyzes this market by product & service and end user.
• Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global artificial intelligence (AI) in genomics market
• Market Development: Comprehensive information on the lucrative emerging markets by products & services and end user
• Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global artificial intelligence (AI) in genomics market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global artificial intelligence (AI) in genomics market.
Table of Contents
1 INTRODUCTION 32
1.1 STUDY OBJECTIVES 32
1.2 MARKET DEFINITION 32
1.3 INCLUSIONS AND EXCLUSIONS 33
1.4 STUDY SCOPE 34
1.4.1 MARKETS COVERED 34
1.4.2 REGIONS COVERED 34
1.5 YEARS CONSIDERED 35
1.6 CURRENCY CONSIDERED 36
1.7 LIMITATIONS 36
1.8 STAKEHOLDERS 37
1.9 SUMMARY OF CHANGES 37
2 RESEARCH METHODOLOGY 39
2.1 RESEARCH DATA 39
2.1.1 SECONDARY RESEARCH 42
- 2.1.1.1 Key data from secondary sources 43
2.1.2 PRIMARY RESEARCH 43
- 2.1.2.1 Key primary sources 44
- 2.1.2.2 Key data from primary sources 45
- 2.1.2.3 Key industry insights 45
- 2.1.2.4 Breakdown of primary interviews 46
2.2 MARKET SIZE ESTIMATION 46
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 52
2.4 RESEARCH ASSUMPTIONS 54
2.5 IMPACT OF RECESSION 55
2.6 RISK ASSESSMENT 55
2.7 RESEARCH LIMITATIONS 56
3 EXECUTIVE SUMMARY 57
4 PREMIUM INSIGHTS 62
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET 62
4.2 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY REGION 63
4.3 NORTH AMERICAN ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY END USER AND COUNTRY, 2022 64
4.4 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY OFFERING 65
4.5 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY TECHNOLOGY 65
4.6 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY END USER 66
4.7 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY FUNCTIONALITY 66
4.8 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY APPLICATION 67
5 MARKET OVERVIEW 68
5.1 INTRODUCTION 68
5.2 MARKET DYNAMICS 68
5.2.1 DRIVERS 69
- 5.2.1.1 Need to accelerate processes and timeline and reduce drug development & discovery costs 69
- 5.2.1.2 Increased partnerships and collaborations among players and growing investments in AI in genomics 69
- 5.2.1.3 Rising adoption of AI in precision medicine 70
- 5.2.1.4 Explosion in bioinformatics data and genomic datasets 70
- 5.2.1.5 Improving computing power and declining hardware cost 71
5.2.2 RESTRAINTS 72
- 5.2.2.1 Lack of skilled AI workforce and ambiguous regulatory guidelines for medical software 72
5.2.3 OPPORTUNITIES 72
- 5.2.3.1 Focus on developing human-aware AI systems 72
5.2.4 CHALLENGES 73
- 5.2.4.1 Lack of curated genomic data 73
- 5.2.4.2 Data privacy concerns 73
5.3 ECOSYSTEM ANALYSIS 74
6 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY OFFERING 75
6.1 INTRODUCTION 76
6.2 SOFTWARE 77
6.2.1 INTELLIGENT SOFTWARE TO REDUCE ERRORS CAUSED BY STANDARD STATISTICAL APPROACHES 77
6.3 SERVICES 78
6.3.1 RISING AI TECHNOLOGY ADOPTION IN VARIOUS END-USE INDUSTRIES TO BOOST MARKET 78
7 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY TECHNOLOGY 80
7.1 INTRODUCTION 81
7.2 MACHINE LEARNING 82
7.2.1 DEEP LEARNING 84
- 7.2.1.1 Growing demand for accelerated genome sequencing analysis workflows and improved function of gene editing tools to propel market 84
7.2.2 SUPERVISED LEARNING 86
- 7.2.2.1 To help create predictive models for population health management 86
7.2.3 REINFORCEMENT LEARNING 87
- 7.2.3.1 Need to reduce costs associated with collecting labeled training data to drive segment 87
7.2.4 UNSUPERVISED LEARNING 89
- 7.2.4.1 Ability to perform more complex processing tasks than supervised learning systems to drive market 89
7.2.5 OTHER MACHINE LEARNING TECHNOLOGIES 90
7.3 OTHER TECHNOLOGIES 91
8 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY FUNCTIONALITY 93
8.1 INTRODUCTION 94
8.2 GENOME SEQUENCING 95
8.2.1 INCREASING ADOPTION OF MACHINE AND DEEP LEARNING IN DIAGNOSTICS AND DRUG DISCOVERY PROCESSES TO ENHANCE MARKET GROWTH 95
8.3 GENE EDITING 96
8.3.1 TO HELP IMPROVE GENE EDITING FUNCTIONS AND REDUCE TIME AND COSTS 96
8.4 CLINICAL WORKFLOW 98
8.4.1 TO HELP INCREASE EFFICIENCY OF CLINICAL WORKFLOWS 98
8.5 PREDICTIVE GENETIC TESTING & PREVENTIVE MEDICINE 99
8.5.1 AI IN GENOMICS TO PREDICT OUTCOMES AND RISKS ASSOCIATED WITH CURING GENETIC DISEASES BASED ON AVAILABLE DATA 99
9 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY APPLICATION 101
9.1 INTRODUCTION 102
9.2 DIAGNOSTICS 103
9.2.1 AI IN GENOMICS FOR DIAGNOSTICS TO HELP IDENTIFY CHROMOSOMAL DISORDERS, DYSMORPHIC SYNDROMES, TERATOGENIC DISORDERS, AND SINGLE-GENE DISORDERS 103
9.3 DRUG DISCOVERY & DEVELOPMENT 105
9.3.1 GROWING APPLICATION OF AI IN GENOMICS IN DRUG DISCOVERY & DEVELOPMENT TO PROPEL MARKET 105
9.4 PRECISION MEDICINE 107
9.4.1 FOCUSE ON IDENTIFYING EFFECTIVE MEDICAL TREATMENTS FOR PATIENTS TO DRIVE MARKET 107
9.5 AGRICULTURE & ANIMAL RESEARCH 109
9.5.1 AI IN GENOMICS TO HELP IMPROVE CROP AND LIVESTOCK PRODUCTIVITY 109
9.6 OTHER APPLICATIONS 111
10 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY END USER 113
10.1 INTRODUCTION 114
10.2 PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES 115
10.2.1 RISING DEMAND FOR SOLUTIONS TO REDUCE TIME AND COSTS OF DRUG DEVELOPMENT 115
10.3 RESEARCH CENTERS, ACADEMIC INSTITUTES, AND GOVERNMENT ORGANIZATIONS 117
10.3.1 INCREASED RESEARCH ACTIVITIES TO ENCOURAGE USE OF AI IN GENOMICS IN ACADEMIC AND GOVERNMENT INSTITUTES 117
10.4 HOSPITALS & HEALTHCARE PROVIDERS 118
10.4.1 GROWING DEMAND FOR PHARMACOGENOMICS TO PROPEL ACCEPTANCE OF NGS IN HOSPITALS 118
10.5 OTHER END USERS 120
11 ARTIFICIAL INTELLIGENCE (AI) IN GENOMICS MARKET, BY REGION 122
11.1 INTRODUCTION 123
11.2 NORTH AMERICA 124
11.2.1 NORTH AMERICA: RECESSION IMPACT 124
11.2.2 US 128
- 11.2.2.1 Initiatives to accelerate genomic research and growing adoption of AI to bolster market 128
11.2.3 CANADA 132
- 11.2.3.1 Increasing research in genomics to drive market 132
11.3 EUROPE 135
11.3.1 EUROPE: RECESSION IMPACT 135
11.3.2 UK 138
- 11.3.2.1 Adoption of AI in genomics for drug discovery to fuel market 138
11.3.3 GERMANY 142
- 11.3.3.1 Availability of funding for AI initiatives to boost market 142
11.3.4 FRANCE 145
- 11.3.4.1 Increasing government investments in NGS to boost market 145
11.3.5 REST OF EUROPE 148
11.4 ASIA PACIFIC 151
11.4.1 ASIA PACIFIC: RECESSION IMPACT 152
11.5 REST OF THE WORLD 156
11.5.1 REST OF THE WORLD: RECESSION IMPACT 157
12 COMPETITIVE LANDSCAPE 161
12.1 OVERVIEW 161
12.2 KEY MARKET PLAYERS’ STRATEGIES/RIGHT TO WIN 161
12.3 REVENUE SHARE ANALYSIS OF TOP MARKET PLAYERS, 2022 164
12.4 MARKET RANKING ANALYSIS, 2022 164
12.5 COMPETITIVE BENCHMARKING 167
12.6 COMPANY EVALUATION QUADRANT FOR KEY PLAYERS 171
12.6.1 STARS 171
12.6.2 PERVASIVE PLAYERS 171
12.6.3 EMERGING LEADERS 171
12.6.4 PARTICIPANTS 171
12.7 COMPANY EVALUATION QUADRANT FOR START-UPS/SMES 173
12.7.1 PROGRESSIVE COMPANIES 173
12.7.2 DYNAMIC COMPANIES 173
12.7.3 RESPONSIVE COMPANIES 173
12.7.4 STARTING BLOCKS 173
12.8 COMPETITIVE SCENARIOS AND TRENDS 175
12.8.1 PRODUCT LAUNCHES/ENHANCEMENTS 175
12.8.2 DEALS 176
12.8.3 OTHER DEVELOPMENTS 178
13 COMPANY PROFILES 179
13.1 KEY PLAYERS 179
13.1.1 NVIDIA CORPORATION 179
13.1.2 MICROSOFT CORPORATION 184
13.1.3 GOOGLE, INC 189
13.1.4 INTEL CORPORATION 193
13.1.5 BENEVOLENTAI 198
13.1.6 SOPHIA GENETICS 201
13.1.7 ILLUMINA, INC 205
13.1.8 PREDICTIVE ONCOLOGY, INC 210
13.1.9 INVITAE CORPORATION 213
13.1.10 DEEP GENOMICS, INC 216
13.1.11 FABRIC GENOMICS, INC 218
13.1.12 VERGE GENOMICS 220
13.1.13 FREENOME HOLDINGS, INC 222
13.1.14 MOLECULARMATCH, INC 224
13.1.15 DANTE LABS 225
13.1.16 DATA4CURE 228
13.1.17 PRECISIONLIFE LTD 229
13.1.18 GENOOX 231
13.1.19 LIFEBIT 233
13.2 OTHER EMERGING PLAYERS 236
13.2.1 FDNA, INC 236
13.2.2 DNANEXUS 236
13.2.3 ENGINE BIOSCIENCES 237
13.2.4 TEMPUS LABS, INC 237
13.2.5 CONGENICA LTD 238
13.2.6 EMEDGENE, INC 238
13.2.7 SERAGON PHARMACEUTICALS, INC 239
14 APPENDIX 240
14.1 DISCUSSION GUIDE 240
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL 245
14.3 CUSTOMIZATION OPTIONS 247
14.4 RELATED REPORTS 248
14.5 AUTHOR DETAILS 249