According to Arizton’s latest research report, the AI in genomics market growing at a CAGR of 50.99% during 2023-2029.
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Report Summary
Market Size (2029): $13.65 Billion
Market Size (2023): $1.15 Billion
CAGR (2023-2029): 50.99%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Delivery Mode, Functionality, Application, End-User, Technology and Geography
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In 2023, the AI-driven genomics market demonstrated substantial growth, fueled by increased investments in research and development within the field of genomics and a growing demand for innovative healthcare solutions leveraging AI technologies. Key segments such as on-premises delivery mode, genome sequencing functionality, translational precision medicine applications, pharma & biotech company end-users, and machine learning technology exhibited strong performance. The on-premises segment led with a commanding 61.38% market share and is projected to grow at a remarkable CAGR of 50.58%, highlighting the importance of secure and accessible healthcare data storage solutions. Genome sequencing held a significant 57.24% market share, benefiting from advancements that have made sequencing more cost-effective and precise. Translational precision medicine led applications with a dominant 69.71% market share, driven by advances in genomic technologies facilitating targeted therapies. Pharma & biotech companies accounted for 41.56% of the market, driven by their need to manage complex genetic data efficiently. Machine learning technology, holding a 60.89% market share, is poised to expand further, underpinned by its data analysis efficiency and personalized medicine applications. These trends collectively indicate a promising trajectory for AI-driven genomics, poised to continue transforming healthcare through enhanced data utilization and precision medicine innovations.
Cloud-Based AI in Genomics Soars: Expected to Reach $5.4 Billion by 2029
In 2023, the cloud-based segment of the AI in genomics market claimed a substantial 38.62% share and is poised for exponential growth. Predicted by Arizton to expand by $4,962.04 million with an impressive absolute growth rate by 2029, cloud-based AI services are pivotal in revolutionizing genomics. These platforms offer scalable, flexible, and cost-effective data storage and analysis solutions, enhancing collaboration, ensuring data security, and accelerating research and development efforts. Infrastructure as a Service (IaaS) providers like Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure enable organizations to scale computing resources dynamically. Meanwhile, Software as a Service (SaaS) solutions such as those from Congenica and Sapientia provide accessible tools for genomic analysis. Cloud platforms facilitate global research collaboration by centralizing access to data and analytical tools, driving innovation in genomics while offering economical alternatives to on-premises infrastructure.
Geographical Analysis
North America, particularly the United States, leads the global AI in medical imaging market, bolstered by technological advancements, rising chronic disease rates, and the demand for precise diagnostic tools. The U.S. dominates due to widespread adoption among radiologists and hospitals, supported by a robust healthcare infrastructure. Continued advancements in AI technology and substantial investments in research and development are driving rapid adoption across healthcare facilities. The focus remains on enhancing diagnostic accuracy, improving patient outcomes, and optimizing workflows to meet increasing demands for efficient medical imaging solutions.
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Key Vendors
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Fabric Genomics
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International Business Machines Corp (IBM)
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Microsoft
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NVIDIA
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OrphAI Therapeutics
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Ares Genetics
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BenevolentAI
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Deep Genomics
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Invitae Corp
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DNAnexus
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Illumina
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Engine Biosciences
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FDNA
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Freenome
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Genuity Science
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Lifebit
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MolecularMatch
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Predictive Oncology
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Sophia Genetics
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Google DeepMind
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Intel
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Congenica
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Verge Genomics
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WhiteLab Genomics
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AITIA
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Data4Cure
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Genoox
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Lantern Pharma
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PathAI
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Tempus
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Recursion Pharmaceuticals
Segmentation & Forecast
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Delivery Mode
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On-Premises
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Cloud-based
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Functionality
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Genome Sequencing
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Gene Editing
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Others
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Application
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Translational Precision Medicine
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Clinical & Genomic Diagnostics
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Others
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End-User
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Pharma & Biotech Companies
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Public & Consumer Genomic Centers
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Others
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Technology
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Machine Learning
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Computer Vision
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Others
Geography
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North America
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The U.S.
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Canada
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Europe
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Germany
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The U.K.
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France
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Italy
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Spain
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APAC
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Japan
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China
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India
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Australia
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South Korea
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Latin America
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Brazil
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Mexico
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Argentina
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Middle East & Africa
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Turkey
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South Africa
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Saudi Arabia
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Key Questions Answered in the Report:
How big is the global AI in genomics market?
What are the opportunities in global AI in genomics market?
What is the growth rate of global AI in the genomics market?
Which region dominates the global AI in the genomics market?
Who are the major players in the global AI in genomics market?
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