The global Artificial Intelligence in Digital Genome Market is estimated to be valued at US$ 269.8 million in 2023 and is expected to exhibit a CAGR of 44.8% over the forecast period (2023-2028), as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Artificial intelligence (AI) has huge potential in digital genome which has emerged as the fastest growing application of AI. AI tools analyze huge amount of genomic and other associated clinical data to detect disease patterns, predict disease risks, design effective treatment protocols, and monitor disease progression.
Market key trends:
One of the major trend gaining traction in the AI for digital genome market is use of AI and machine learning for precision medicine. Precision medicine is an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment and lifestyle for each person. AI analyses huge amount of patient genomic and clinical data to design personalized treatment and preventive plans specific to an individual. This is expected to drive significant growth of AI in digital genome market.
Here is the segment analysis and key takeaways for the given Artificial Intelligence In Digital Genome Market research report:
Segment Analysis:
The artificial intelligence in digital genome market is segmented into service and product. Within services, the genome data analysis segment dominates the market. This is attributed to increasing large-scale genome sequencing initiatives and adoption of AI-based tools for analysis. Genome data analysis tools empower researchers to glean meaningful biological insights from vast amounts of genomic data.
Within products, the software segment holds the largest market share. Advancements in AI and machine learning have enabled the development of genomics software with sophisticated algorithms for efficient genome analysis. A wide variety of AI-powered software solutions for applications like gene mapping, variant calling, and clinical diagnostics are fueling the segment's growth.
Key Takeaways:
The Global Artificial Intelligence In Digital Genome Market is expected to witness high growth, exhibiting CAGR of 44.8% over the forecast period, due to increasing investment in genomic research and advancement of AI technology.
The US dominates the regional analysis, with the largest share attributed to well-established healthcare infrastructure, growing genomic research funding, and presence of key industry players in the region. However, Asia Pacific is poised to showcase the fastest growth owing to rising healthcare spending, increasing genome sequencing initiatives, and growing adoption of AI-based genomic tools in countries like China and India.
Key players operating in the artificial intelligence in digital genome market are NVIDIA Corporation, IBM, Microsoft, Fabric Genomics Inc., Verge Genomics, MolecularMatch Inc., SOPHiA GENETICS, PrecisionLife Ltd, BenevolentAI, and Deep Genomics. These players are focusing on developing sophisticated AI products and genomic analysis solutions to gain a competitive edge in the rapidly evolving market.
Global Digital Genome Market Research Report, by Product (Sequencing Services, Instruments), Application (Diagnostics, Agriculture & Animal Research), End-User (Research Centers and Government Institutes, Academic Institutions) – Global Forecast Till 2027Global Digital Genome Market Insights 2020 provides a unique tool for evaluating the Market, highlighting opportunities, and supporting strategic and tactical decision-making.
This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability.
It provides information on trends and developments, and focuses on Markets and materials, capacities and technologies, and on the changing structure of the Serotonin Supplements Market.Some of the key players operating for the global market analysis are The strategic mergers and acquisitions are aiding the players in gaining a competitive edge in the global digital genome market.In June 2018, Digital DNAtix Ltd., a genetic blockchain company, has announced the pilot of a blockchain-based ecosystem and infrastructure for anonymous genetic testing, services and research with the help of digital genomes.The major players that are highlighted in the report on the global digital genome market by MRFR are Umbel, BiogeniQ, GenomeMe, NanoString, Illumina, Inc. and othersDigital Genome Market Research Coverage:Changing market dynamics of the industryTo get a comprehensive overview of the Digital Genome Market.Historical, current and projected market size in terms of volume and valueIn-depth market segmentationCompetitive landscapeThe report presents an all-inclusive database in a systematic and highly comprehensive manner.
It intends to offer valid, factual, reliable, and easily understandable information about the which makes it more eloquent.
Our analysis team applies a tried and tested primary and secondary research methodology to provide accurate and indubitable findings.The global digital genome market has been segmented on the basis of product, application and end-users.
Based on product, the digital gnome market is segmented into sequencing services, sequencing instruments, sequencing consumables, bioinformatics and sample preparation kits and reagents.Based on application, the global digital genome market is segmented into diagnostics, agriculture & animal research, personalized medicine, drug discovery and treatment analysis.
