{"product_id":"ai-in-genomics-market-by-offering-software-services-functionality-sequencing-gene-editing-application-diagnostics-precision-medicine-drug-discovery-and-development-delivery-mode-on-premise-cloud-and-end-user-global-forecast-to-2029","title":"AI in Genomics Market by Offering (Software, Services), Functionality (Sequencing, Gene Editing), Application (Diagnostics, Precision Medicine, Drug Discovery and Development), Delivery Mode (On-premise, Cloud), and End User—Global Forecast to 2029","description":"\u003cp\u003eAI in Genomics Market by Offering (Software, Services), Functionality (Sequencing, Gene Editing), Application (Diagnostics, Precision Medicine, Drug Discovery and Development), Delivery Mode (On-premise, Cloud), and End User—Global Forecast to 2029\u003c\/p\u003e\n\n\u003cp\u003eAI in Genomics Market by Offering (Software, Services), Functionality (Sequencing, Gene Editing), Application (Diagnostics, Precision Medicine, Drug Discovery and Development), Delivery Mode (On-premise, Cloud), and End User—Global Forecast to 2029\u003c\/p\u003e\n\n\u003cp\u003eThe AI in genomics market is expected to reach $6.22 billion by 2029, at a CAGR of 42.8% from 2022 to 2029.\u003c\/p\u003e\n\n\u003cp\u003eSucceeding extensive secondary and primary research and in-depth analysis of the market scenario, the report studies the key industry drivers, restraints, challenges, and opportunities. The growth of the AI in genomics market is attributed to the rising focus on reducing turnaround time in drug discovery \u0026amp; development, increasing use of AI in healthcare\/genomics, and growing investments in AI. In addition, emerging start-ups and the rising adoption of machine learning (ML) in personalized\/precision medicine are likely to offer opportunities for market growth.\u003c\/p\u003e\n\n\u003cp\u003eBased on offering, in 2022, the software segment is estimated to account for the largest share of the market. The key factors attributed to this segment's large market share are the growing adoption of AI in healthcare\/genomics and the advancements in AI algorithms to analyze huge amounts of genetic datasets. For instance, in April 2022, MedGenome (U.S.) launched an AI-enabled variant interpretation software suit, VarMiner, to help clinicians, genome analysts, and molecular geneticists interpret and report variants. In the other instance, in October 2020, Fabric Genomics (U.S.) launched Fabric GEM to accelerate genetic disease diagnosis and provide comprehensive clinical-decision support.\u003c\/p\u003e\n\n\u003cp\u003eThe AI in genomics market is segmented by offering (software, services), delivery mode (on-premises, cloud \u0026amp; web-based), functionality (genome sequencing, gene editing, other functionalities), application (drug discovery and development, precision medicine, diagnostics, and other applications), end user (pharmaceutical \u0026amp; biopharmaceutical companies, academic \u0026amp; research institutes, and other end users), and geography. The study also evaluates industry competitors and analyzes their market shares at global and regional levels.\u003c\/p\u003e\n\n\u003cp\u003eBased on functionality, in 2022, the genome sequencing segment is estimated to account for the largest share of the market. The factors attributing to the large market share of this segment are the increasing adoption of AI in genome sequencing studies and the growing R\u0026amp;D related to COVID-19.\u003c\/p\u003e\n\n\u003cp\u003eBased on application, the market is segmented into drug discovery and development, precision medicine, diagnostics, and other applications. In 2022, the drug discovery and development segment is estimated to account for the largest share of the market. The key factors attributing to the large market share of this segment are the growing adoption of AI algorithms in drug discovery and the growing collaboration between pharmaceutical\/biopharmaceutical companies and companies that provide AI solutions.\u003c\/p\u003e\n\n\u003cp\u003eBased on end user, the pharmaceutical \u0026amp; biopharmaceutical companies segment is estimated to account for the largest share of the market. These companies use AI algorithms to speed up drug discovery. Furthermore, the increasing burden of chronic and infectious diseases is burdening pharmaceutical companies to speed up drug discovery. Thus, the highest adoption of AI in genomics solutions by pharmaceutical and biopharmaceutical companies contributes to this segment's large market share.\u003c\/p\u003e\n\n\u003cp\u003eAn in-depth analysis of the geographical scenario of the AI in genomics provides detailed qualitative and quantitative insights into five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East \u0026amp; Africa) along with the coverage of major countries in each region. In 2022, North America is estimated to account for the largest share of the AI in genomics market, followed by Europe, Asia-Pacific, Latin America, and the Middle East \u0026amp; Africa. The increasing research initiatives in genomics, the availability of infrastructure for genomics research and AI, and the growing adoption of AI in precision medicine to meet the increasing market demand are the factors contributing to the large market share of this region.\u003c\/p\u003e\n\n\u003cp\u003eSome of the key players operating in the global AI in genomics are Microsoft Corporation (U.S.), NVIDIA Corporation (U.S.), Deep Genomics Incorporated (Canada), Fabric Genomics, Inc. (U.S.), Data4Cure, Inc. (U.S.), Predictive Oncology Inc. (U.S.), Emedgene Technologies LTD (U.S.), Congenica Ltd. (U.K.), Tempus Labs, Inc. (U.S.), SOPHiA GENETICS SA (Switzerland), Illumina Inc. (U.S.), and BenevolentAI Limited. (U.K.).\u003c\/p\u003e\n\n\u003cp\u003eScope of the Report:\u003c\/p\u003e\n\n\u003cp\u003eGlobal AI in Genomics Market, by Offering\u003c\/p\u003e\n\n\u003cp\u003eSoftware\u003cbr\u003e\nServices\u003c\/p\u003e\n\n\u003cp\u003eGlobal AI in Genomics Market, by Delivery Mode\u003c\/p\u003e\n\n\u003cp\u003eOn-premises\u003cbr\u003e\nCloud \u0026amp; Web-Based Mode\u003c\/p\u003e\n\n\u003cp\u003eGlobal AI in Genomics Market, by Functionality\u003c\/p\u003e\n\n\u003cp\u003eGenome Sequencing\u003cbr\u003e\nGene Editing\u003cbr\u003e\nOther Functionalities\u003c\/p\u003e\n\n\u003cp\u003eNote: Other functionalities include pharmacogenomics and predictive gene testing.\u003c\/p\u003e\n\n\u003cp\u003eGlobal AI in Genomics Market, by Application\u003c\/p\u003e\n\n\u003cp\u003eDrug Discovery \u0026amp; Development\u003cbr\u003e\nPrecision Medicine\u003cbr\u003e\nDiagnostics\u003cbr\u003e\nOther Applications\u003c\/p\u003e\n\n\u003cp\u003eNote: Other applications include agriculture, pharmacology, and animal health.\u003c\/p\u003e\n\n\u003cp\u003eGlobal AI in Genomics Market, by End User\u003c\/p\u003e\n\n\u003cp\u003ePharmaceutical \u0026amp; Biopharmaceutical Companies\u003cbr\u003e\nAcademic \u0026amp; Research Institutes\u003cbr\u003e\nOther End Users\u003c\/p\u003e\n\n\u003cp\u003eNote: Other end users include contract research organizations and agriculture companies.\u003c\/p\u003e\n\n\u003cp\u003eGlobal AI in Genomics Market, by Geography\u003c\/p\u003e\n\n\u003cp\u003eNorth America\u003cbr\u003e\nU.S.\u003cbr\u003e\nCanada\u003cbr\u003e\nEurope\u003cbr\u003e\nGermany\u003cbr\u003e\nU.K.\u003cbr\u003e\nFrance\u003cbr\u003e\nItaly\u003cbr\u003e\nSpain\u003cbr\u003e\nRest of Europe (RoE)\u003cbr\u003e\nAsia-Pacific (APAC)\u003cbr\u003e\nChina\u003cbr\u003e\nJapan\u003cbr\u003e\nIndia\u003cbr\u003e\nRest of APAC (RoAPAC)\u003cbr\u003e\nLatin America\u003cbr\u003e\nBrazil\u003cbr\u003e\nMexico\u003cbr\u003e\nRest of Latin America (RoLA)\u003cbr\u003e\nMiddle East \u0026amp; Africa\u003c\/p\u003e\n\n\u003cp\u003eReport Metrics AI in Genomics Market - Report SummaryDetailsYears Considered2020 - 2029Base Year2021Forecast Period2022-2029Page Count162Units Referenced Value (USD Million)Segments\/Key Topics Market by Offering, Delivery Mode, Functionality, Application, and End UserKey Companies Mentioned Microsoft Corporation (U.S.), NVIDIA Corporation (U.S.), Deep Genomics Incorporated (Canada), Fabric Genomics, Inc. (U.S.), Data4Cure, Inc. (U.S.), Predictive Oncology Inc. (U.S.), Emedgene Technologies LTD (U.S.), Congenica Ltd. (U.K.), Tempus Labs, Inc. (U.S.), SOPHiA GENETICS SA (Switzerland), Illumina Inc. (U.S.), and BenevolentAI Limited. (U.K.)\u003c\/p\u003e\n\n\u003cp\u003eFAQs About the Report\u003c\/p\u003e\n\n\u003cp\u003eWhat is the focus of the global AI in genomics market?\u003c\/p\u003e\n\n\u003cp\u003eThis study offers a detailed assessment of the AI in genomics market, including the market size \u0026amp; forecast for various segmentations such as offering, delivery mode, functionality, application, and end user. The AI in genomics market study also involves the value analysis of various segments of the AI in genomics market at regional and country levels.\u003c\/p\u003e\n\n\u003cp\u003eWhat is the value of revenue generated from AI in genomics across the globe? At what rate is their demand expected to grow for the next 5-7 years?\u003c\/p\u003e\n\n\u003cp\u003eThe global AI in genomics market is projected to reach $6.22 billion by 2029, at a CAGR of 42.8% during the forecast period.\u003c\/p\u003e\n\n\u003cp\u003eBased on offering type, which AI in genomics segment is estimated to hold the major share of the market?\u003c\/p\u003e\n\n\u003cp\u003eBased on offering, the software segment is estimated to hold the largest share in 2022. Recurring revenue from the companies owing to the subscription-based or licensing models offered by the software companies contributes to the largest market share.\u003c\/p\u003e\n\n\u003cp\u003eWhich delivery mode segment is expected to grow at the highest CAGR during the forecast period?\u003c\/p\u003e\n\n\u003cp\u003eBased on delivery mode, the cloud \u0026amp; web-based segment is expected to grow at the highest CAGR over the forecast period. Growing preference for the cloud-based and web-based models owing to their advantages is a key factor for the market growth.\u003c\/p\u003e\n\n\u003cp\u003eWhat are the key factors supporting the growth of this market? Also, what are the major opportunities for existing market players and new entrants in the global AI in genomics market?\u003c\/p\u003e\n\n\u003cp\u003eThe growth of this market is attributed to the increasing use of AI in healthcare\/genomics, growing investments, and a rising focus on reducing turnaround time in drug discovery and diagnostics. Moreover, emerging start-ups and the rising adoption of ML in personalized\/precision medicine offer significant opportunities for market growth.\u003c\/p\u003e\n\n\u003cp\u003eWho are the major players operating in the global AI in genomics market?\u003c\/p\u003e\n\n\u003cp\u003eThe key players profiled in the global AI in genomics market are Microsoft Corporation (U.S.), NVIDIA Corporation (U.S.), Deep Genomics Incorporated (Canada), Fabric Genomics, Inc. (U.S.), Data4Cure, Inc. (U.S.), Predictive Oncology Inc. (U.S.), Emedgene Technologies LTD (U.S.), Congenica Ltd. (U.K.), Tempus Labs, Inc. (U.S.), SOPHiA GENETICS SA (Switzerland), Illumina Inc. (U.S.), and BenevolentAI Limited. (U.K.).\u003c\/p\u003e\n\n\u003cp\u003eWhich regions\/countries are expected to offer significant growth opportunities for the market players operating in the global AI in genomics market?\u003c\/p\u003e\n\n\u003cp\u003eEmerging economies like China and India are projected to offer significant growth opportunities to the market players due to the availability of infrastructure for genomics research and the growing adoption of AI in genomics in these countries.\u003c\/p\u003e","brand":"Life Science","offers":[{"title":"December, 2022 \/ - \/ MCW16225339","offer_id":47645277847858,"sku":null,"price":5010.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/ai-in-genomics-market-by-offering-software-services-functionality-sequencing-gene-editing-application-diagnostics-precision-medicine-drug-discovery-and-development-delivery-mode-on-premise-cloud-and-end-user-global-forecast-to-2029","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}