Indore, IN: Bizwit Research & Consulting LLP’s Recent Analysis for the Global AI In Genomics Market is poised to raise up to USD 7040.69 million by 2030. Artificial intelligence (AI) is gaining high traction in genomics to accelerate research, improve diagnosis, and develop new treatments. Genomics is the study of an organism’s overall DNA sequence and it is essential to understanding the genetic causes of various diseases, locating therapeutic alternatives, and tracing the links between different species throughout evolution. The rapid developments in AI technology and its cost-effectiveness are the main drivers influencing the need for AI in the genomics market. New AI-powered software solutions are being created with significant innovations in AI technology and are being tailored for the genomics market. The primary drivers of market expansion throughout the world include increased government spending, a spike in the use of AI in precision medicine, and expanding genomic databases.
Geographically, the global AI In Genomics Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America is projected to have the largest revenue market share during the forecast period due to the rising investment in research and development activities, increasing advancements in AI-powered solutions for genomics, and the presence of key market players in the region. Whereas, Asia Pacific is the most lucrative and fastest developing region for AI In Genomics Market due to rapid digitalization in the healthcare sector, as well as a growing emphasis on the adoption of AI in precision medicine are the key factors that are responsible for the region’s growth.
The global AI In Genomics Market is highly competitive owing to the presence of several key manufacturers such as IBM Corporation, Microsoft Corporation, NVIDIA Corporation, Data4Cure, Inc., Freenome Holdings, Inc., Thermo Fisher Scientific, Illumina, Inc., Fabric Genomics, and others.
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Key findings of the study suggest:
- Global AI In Genomics Market is anticipated to grow with a healthy growth rate of more than 46.0% over the forecast period 2023-2030.
- Based on the Application segment, drug discovery & development is accounted as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the introduction of new software and tools for genomic data analysis.
- Asia-Pacific is expected to grow at a higher rate followed by North America during 2023-2030. The regional market growth is driven by the factors such as increasing focus on precision medicine, and rapid advances in genomics technology.
Bizwit Research & Consulting LLP has considered the following segments for the study:
By Component:
- Hardware
- Software
- Services
By Technology:
- Machine Learning
- Computer Vision
By Functionality:
- Genome Sequencing
- Gene Editing
- Others
By Application:
- Drug Discovery & Development
- Precision Medicine
- Diagnostics
- Others
By End-use:
- Pharmaceutical and Biotech Companies
- Healthcare Providers
- Research Centers
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with a chain of industry analysts to analyze the market trends and their future impact in order to estimate and forecast different business segments and markets. Bizwit incorporates big data, expert analysis, and a huge industry database to deliver client-focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecasts. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain, and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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