The Artificial Intelligence in Genomics Market is expected to grow from USD 193.1 million in 2020 to USD 2,190.3 million by 2026 at a CAGR of 49.9% from 2020 to 2026.
Artificial intelligence is enormously used in genomics for developing and researching new medicines for treating rare diseases. Moreover, it makes use of several DNA sequencing procedures, bioinformatics and recombinant DNAs for analyzing, arranging, sequencing and functioning of genomes. With machine learning having a prominent role in emergence of genomics, the artificial intelligence in genomics industry is anticipated to witness a huge growth over forecasted time span. Supposedly, genomics produces big data sets which are used in discovering new drugs and AI aids genomics study in producing these new drugs in a short period. Immense use of next generation sequencing in genomics has led to increase in the precision and success of the healthcare sector. Since, it has become vital to integrate this whole genome sequencing method with machine learning for enhancing the medical practice as well as improving the knowledge of diseases such as cancer. This will compel the market growth over 2020-2026. Apart from this, blooming precision medicine market and requirement for exact whole genome synthesis has created major growth avenues for artificial intelligence in genomics industry. In addition to this, artificial intelligence is also utilized in genome field which consists of gene editing, direct-to-consumer genomics and CRISPR as well as developing clinical workflow for improving the patient care, thereby propelling market trends. Moreover, the personalized medicines assist medical professionals to recognize the precise patient requirement, based on that they can prescribe treatment and medicines, which is projected to contribute toward the AI in genomics market growth. In addition, the prevalence of diseases and disorders are at an all-time high. The increasing number of various types of diseases and disorders among a massive chunk of the global populace has resulted in several numbers of discoveries and developments in the pharmaceutical industry. Thus, this aspect will accelerate the demand for Artificial Intelligence in genomics market. Apart from this, the factors such as dearth of a skilled artificial intelligence workforce and lack of regulatory guidelines for medical software are likely to impede the AI in genomics market growth over the forecast period.
In addition to this, machine learning is likely to find wide applications in fields in the predictable future such as farming, pharmacogenomics and newborn genetic screening in the near future. This will generate major growth potential for artificial intelligence in genomics market over the projected timeframe. Furthermore, the key aim of developing AI technologies was to create them human-aware or efficient of human thinking patterns. Thus the above factor is also likely to create lucrative opportunities for the market growth.
The global Artificial Intelligence in Genomics Market is segregated on the basis of Offering as Software and Services. Based on Technology the global Artificial Intelligence in Genomics Market is segmented in Machine Learning and Computer Vision. Based on Application the global Artificial Intelligence in Genomics Market is segmented in Genome Sequencing, Gene Editing and Gene Mapping. Based on End User the global Artificial Intelligence in Genomics Market is segmented in Pharmaceutical Companies and Research Bodies.
The global Artificial Intelligence in Genomics Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Artificial Intelligence in Genomics Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Allianz, AXA, Nippon Life Insurance, American Intl. Group, Aviva and others are among the major players in the global Artificial Intelligence in Genomics Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Artificial Intelligence in Genomics Market has been segmented as below:
Artificial Intelligence in Genomics Market, By Offering
Artificial Intelligence in Genomics Market, By Technology
Artificial Intelligence in Genomics Market, By Application
Artificial Intelligence in Genomics Market, By End User
Artificial Intelligence in Genomics Market, By Region
Artificial Intelligence in Genomics Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Artificial Intelligence in Genomics Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Artificial Intelligence in Genomics Market share. Major industry players with significant revenue share include Allianz, AXA, Nippon Life Insurance, American Intl. Group, Aviva, Assicurazioni Generaliand others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Artificial Intelligence in Genomics Market, By Offering
5.1. Key Points
5.2. Software
5.3. Services
6. Artificial Intelligence in Genomics Market, By Technology
6.1. Key Points
6.2. Machine Learning
6.3. Computer Vision
7. Artificial Intelligence in Genomics Market, By Application
7.1. Key Points
7.2. Genome Sequencing
7.3. Gene Editing
7.4. Gene Mapping
8. Artificial Intelligence in Genomics Market, By End User
8.1. Key Points
8.2. Pharmaceutical Companies
8.3. Research Bodies
9. Competitive Landscape
9.1. Introduction
9.2. Start-up companies- Artificial Intelligence in Genomics Market
9.3. Recent Developments
9.3.1. Mergers & Acquisitions
9.3.2. New Product Developments
9.3.3. Portfolio/Production Capacity Expansions
9.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
9.3.5. Others
10. Company Profile
10.1. Allianz
10.2. AXA
10.3. Nippon Life Insurance
10.4. American Intl. Group
10.5. Aviva
10.6. Assicurazioni Generali
10.7. Cardinal Health
10.8. State Farm Insurance
10.9. Dai-ichi Mutual Life Insurance
10.10.Munich Re Group
10.11. Zurich Financial Services
10.12. Prudential
10.13. Asahi Mutual Life Insurance
10.14. Sumitomo Life Insurance
10.15. MetLife
10.16. Allstate
10.17. Aegon
10.18.Prudential Financial
10.19. New York Life Insurance
10.20. Meiji Life Insurance
10.21. Aetna
10.22. CNP Assurances
10.23. PingAn
10.24. CPIC
Artificial Intelligence in Genomics Market, By Offering
Artificial Intelligence in Genomics Market, By Technology
Artificial Intelligence in Genomics Market, By Application
Artificial Intelligence in Genomics Market, By End User
Artificial Intelligence in Genomics Market, By Company