Artificial intelligence in genomics concentrates on utilizing artificial intelligence for the development of computer systems that can execute several tasks like mapping genomes. Artificial intelligence is highly used in genomics for exploring and developing novel medicines for the purpose of healing rare ailments. Moreover, it utilizes various DNA sequencing procedures, recombinant DNAs, and bioinformatics for functioning, analyzing, sequencing, and assembling genomes.
The growing requirements of the controlled drug along with drug discovery and development in a short span of time will steer the growth of the global artificial intelligence in genomics market. The technological progress and growing innovations in the healthcare sector are inducing health professionals to bring effective drugs for the treatment of rare ailments. It will significantly lower the burden on hospitals. Machine learning and artificial intelligence play a vital role in genomics. Genomics produces big data volumes that are used in discovering innovative drugs and artificial intelligence helps genomics study in manufacturing these novel drugs in a short period of time. Artificial intelligence is highly accompanied by big data analytics which assists firms in gaining immense insights for understanding cancer and several other rare forms of diseases in patients. The growing funding from the government and leading market players to boost research and development activities will further accelerate the growth of the market globally.
The global artificial intelligence in genomics market can be segmented into end-users, applications, technology, offerings, and regions.
By end-users, the market can be segmented into research bodies and pharmaceutical companies.
By applications, the market can be segmented into gene mapping, gene editing, and genome sequencing.
By technology, the market can be segmented into computer vision and machine learning.
By offerings, the market can be segmented into services and software.
North America accounts for the largest share in the global artificial intelligence in genomics market due to the growing funding from public and private firms for artificial intelligence research activities in the field of genomics. Moreover, the ongoing technological advancements in the region will further promote the growth of the regional market.
Some of the significant players in the global artificial intelligence in genomics market are Engine Biosciences Pte. Ltd., Empiric Logic, DNAnexus Inc., FDNA Inc., Diploid, Lifebit, Genoox Ltd., PrecisionLife Ltd, Data4Cure Inc., SOPHiA GENETICS, Cambridge Cancer Genomics, MolecularMatch Inc., Freenome Holdings, Inc., Verge Genomics, Fabric Genomics Inc., BenevolentAI, Deep Genomics, NVIDIA Corporation, Microsoft, and IBM. To cite, IBM Watson Health in February 2020 partnered with Broad Institute of MIT and Harvard (US). The partnership was aimed to permit Broad Institute to explore and analyze genomics data to research and identify intrinsic susceptibility.