Drawing Valuable Insights from Genomic Data with the AI in Genomics Market

A genome is defined as a haploid set of chromosomes present in a microorganism or every cell of multicellular organisms. In other words, it’s an entire set of instructions tightly packed into the nucleus of a cell.

Genome sequencing, a method used to find changes in areas of the genome, needs the genomes to be unpacked. Artificial Intelligence (AI), known for its great data processing and pattern recognition capabilities, can provide additional abilities to genomic researchers. This blog post covers how genomic researchers can leverage AI for advancing research and details the geographic analysis and recent developments in the AI in genomics market.

Enabling Collective Understandings with AI

Quite often, genomic and biomedical data can’t be accessed easily or is unusable. This is because the data may be squirreled away, or it might be located in different places. Making all the genomic data accessible and useful can be challenging using traditional resources. And this is where the AI technology comes in.

An AI-based analysis system can make all types of genomic and biomedical data accessible and usable. Irrespective of where the data is located, an AI system can seamlessly collect and standardize it to make it appear all in one place. Furthermore, AI can gather data from various sources across the web and combine it with clinical and genomic data.

Market Analysis and Growth Drivers

According to a new study by Polaris Market Research and Consulting, the AI in genomic market was valued at USD 484.69 million in 2022 and is expected to grow to USD 16,757.95 million at a CAGR of 42.5% during the forecast period.

A surge in the number of bio-medical research projects and collaborations has resulted in a significant rise in the collection of genomic data. It’s estimated that over 2 to 40 million gigabytes of data is generated yearly. An exponential rise in genomic data production is one of the key factors driving AI in genomics market growth.

Novel AI tools and technologies like machine learning and deep learning are being used to handle and analyze huge amounts of genomic data. These AI tools allow researchers to draw valuable insights from the collected genomic data and accelerate genomic discoveries. As a result, the demand for AI is rising as it plays an important role in interpreting large amounts of data, further driving the market’s growth.

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Geographic Analysis

North America: The AI in genomics market in North America region is anticipated to account for a larger revenue share over the forecast period. This is because North America, especially the US, is leading the AI and genomics research and development. Besides, the region has many technology companies and research institutes dedicated to advancing AI in genomics research.

Europe: Europe is expected to account for a higher growth rate in the market. The region’s growth is fueled by the increasing number of public-private partnerships and EU-funded projects. These partnerships and funding programs offer all the required resources for tech progress and innovation, thereby driving AI in genomics market sales in the European region.

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Recent Developments

In May 2023, Israel-based company 9xchange announced that it has partnered with BenevolentAI. 9xchange is a biopharma marketplace for monetizing drug asset pipelines, whereas BenevolentAI specializes in AI-assisted drug development and discovery.

End Note and Conclusion

In conclusion, AI technologies like machine learning and deep learning have significantly progressed in collecting, analyzing, and managing genomic data. The ability to rapidly draw valuable information and insights from genomic data has accelerated the pace of genomic research and is contributing to AI in genomics market demand.?