The global artificial intelligence in genomics market size was valued at USD 535 million in 2021 and is expected to reach USD 5,724.45 million by 2027, growing at a CAGR of 48.44% from 2021 to 2027. Artificial intelligence (AI) is the development of computer systems that are able to perform tasks that normally require human intelligence. A genomics-driven approach could improve understanding of disease biology, significantly change R&D costs and efficiency, and bring more targeted drugs to patients sooner. Artificial intelligence in drug discovery can make its development speedier and less hazardous, making it easy for clinicians to understand complicated diseases at the genetic level. The emergence of new and favorable applications for disease diagnosis and monitoring is expected to drive AI in the genomics industry growth further. Several genomic-focused companies have shown favorable returns.
Ever since the Human Genome Project began in 1990, genomics has shown a massive opportunity to enhance and personalize healthcare. Top healthcare investors, including Sequoia Capital and Deerfield Management, are acknowledging that this data has unlocked considerable commercial opportunities across healthcare verticals.
- In 2017, liquid biopsy company GRAIL raised an unprecedented USD 914 million in its Series B round led by Smart Money VC ARCH Venture Partners and including Johnson & Johnson to continue product development and validation for its early-stage cancer detection blood test.
- Another company that is making a lot of noise in the data-driven medicine space is Sophia Genetics from Switzerland. It already works with a half-dozen UK hospitals to pool data and bring AI-driven insights to cancer diagnostics, claiming to already diagnose hundreds of patients a day.
WHAT ARE NETIZENS SAYING ABOUT AI IN GENOMICS?
The genomics industry needs to expand its use of computational methods such as AI / ML to understand better the complex and hidden patterns in genomics data sets from clinical research projects. Personalized medicine treatment is a complex and challenging process in healthcare. Many barriers, such as capturing, analyzing, and leveraging patient genomics data, can overshadow it.
The DNA data of organisms is referred to as genomic data. When combined with clinical, pharmaceutical, and lifestyle information, genomic data can assist providers in detecting early signs and symptoms of disease or determining an individual patient's risk of developing the disease. Genomics can reveal the underlying causes of clinical changes, paving the way for more personalized, effective treatments.
However, this information is complex, and the field of genomics is rapidly evolving. Providing precise, understandable genomic data to clinicians at the point of care remains a significant challenge for many healthcare systems. As the industry struggles to make sense of genomic data and incorporate it into routine clinical care, researchers and organizations increasingly turn to artificial intelligence to extract actionable insights from genomic data.
The perfect match of AI and genomics will make precision medicine a reality. By analyzing and converting genomic data into actionable meaningful clinical information, AI will be the key to improving the interpretability of genomic data.
The AI's meaningful interpretation of raw genomics data will improve disease diagnosis, understanding of what medications should be given and to whom, minimizing side effects, and maximizing efficacy. Researchers at pharmaceutical companies are using AI / ML models and genomic data to discover more about incurable and common diseases. Understanding how these conditions differ between individuals can lead to more personalized treatments, and advanced analytics can assist the top industries in getting there. READ MORE...
ARTIFICIAL INTELLIGENCE IN GENOMICS MARKET SEGMENTATION
- The on-premises segment accounted for a share of more than 60% of the global artificial intelligence in genomics market in 2021. This is primarily attributed to the broad range of advantages associated with the use of on-premises software, such as high security of data, low risk of data breaches, and full command over software upgrades & data storage.
- The closer combination of AI and gene sequencing will help in the development of the genome sequencing market. Companies such as Deep Genomics, use machine learning to support researchers interpret genetic variation.
- The translational precision medicine software market held the largest share in application segmentation. The traditional approach of drug discovery is changing. This paradigm shift comes with a requirement for both precision and translation, leading to a modern Translational Precision Medicine approach to drug discovery and development.
- Data has always been key to drug development. The need to refill pipelines in a cost-efficient manner forced innovative pharma to look for faster, more efficient ways of identifying drug candidates. For instance, Pfizer has used a machine learning system called IBM Watson to search for cancer drug targets. All of these factors are leading Pharma and Biotech companies to be the biggest end-users in the genomics industry.
North America: North America accounted for more than half of the global artificial intelligence in genomics market share in 2021. The AI in genomics market is likely to increase in North America owing to the growing adoption of AI in genome sequencing and rising awareness among the regional pharma and biotech companies. AI deep learning algorithms have also saved many lives in North America by reducing the diagnosis-treatment-recovery cycle for patients.
Europe: The increased awareness among European patients drives the application of personal genome sequencing testing, especially for reproductive health. Artificial Intelligence (AI) is widely helping in diagnostics and contributing to accessible, affordable, and good quality healthcare, which is consequently improving accuracy.
KEY COMPANIES & MARKET INSIGHTS
- The key players in artificial intelligence in genomics market are Fabric Genomics, International Business Machines, Microsoft, and
- Vendors are increasingly focusing on launching innovative devices to penetrate and tap the huge growth potential prevailing in the market.
- WuXi NextCODE has raised USD 455 million in disclosed equity funding, involving a USD 200 million Series C led by Ireland Strategic Investment Fund in November 2018.
- AI in life sciences R&D start-ups have raised a total of USD 10 billion from 2015 to the first half of 2021. The Toronto-based start-up, which was founded in 2014, has raised a combined USD 3.7 million in seed financing from three US venture capital companies.
This Report Addresses:
- Market research and successful decision making
- Market forecasts from 2022 to 2027
- Growth opportunities and trend analysis
- Segments and regional insights
- Key companies and market share analysis