Al in Omics Studies Market Size was valued at USD 633.46 Mn in 2023 and is predicted to reach USD 5,445.6 Mn by the year 2031 at a 31.2% CAGR during the forecast period for 2024-2031.
The market for Al in omics investigations has grown significantly in recent years and is becoming more and more recognised globally. The omics sector is seeing a surge in AI due to the growing demand for pharmaceuticals and rising costs. The omics industry's need for AI is primarily being driven by two factors: its cost-effectiveness and the speed at which AI technology is developing. As a result of these developments in AI technology, new software solutions with AI capabilities are being created especially for the genomics sector. We are able to examine and handle genetic data more successfully because to these more advanced and effective technologies. Numerous manual processes in omics investigations may be automated with the use of AI algorithms and software, which will save labour costs and increase the efficiency of the process.
Competitive Landscape
Some of the Major Key Players in the Al in Omics Studies Market are
- Thermo Fisher Scientific.
- Agilent Technologies
- Illumina
- BGI Genomics
- Dassault Systemes
- Qiagen
- Waters Corporation
- GE Healthcare
- Amazon Web Services, Inc
- Bruker
- Danaher
- Other Prominent Players
Market Segmentation:
The Al in omics studies market can be segmented based on offering, technology platform, application and end-user. By offering, the market is segmented into software and services. By technology platform, the market is segmented into sequencing, epigenomics, proteomics, metabolomics and others (transcriptomics, etc.). By application, the market is segmented into oncology, infectious diseases, neurology, cardiovascular diseases, immunology, and others (pharmacogenomics, among others). By end user, the market is segmented into academic and research institutes, biopharmaceutical company, and others (contract research organizations, among others).
Based on Application, the Oncology Segment is a Growth Contributor in AI in Omics Studies Market
The greatest percentage is expected to be accounted for by oncology over the predicted period. Research and development of medications aimed at underserved patient groups and high-value indications are funded by this sector. In addition to having a sizable market potential and providing a sizable return on investment, these objectives should make use of digital technologies like as computer learning and artificial intelligence to improve patient monitoring and selection, optimise dosage, and improve clinical trial design. Additionally, these technologies may be used to find novel indications and possible therapeutic targets.
Another Segment Witnessing Market Growth Is Epigenomics Based on Technology Platform-
The ability to investigate individual cells is what makes epigenomics the market leader. The resolution level it offers was previously unattainable, making it feasible to get deeper understanding of disease processes and cell behaviour. Because they make it possible to identify uncommon cell types and biomarkers that mass sequencing would miss, they have the potential to completely transform personalised medicine by enabling more accurate diagnosis and focused treatments. It has the potential to provide new therapies for a number of ailments and offer a more thorough knowledge of biological processes. Isolating and sequencing individual cells has become simpler because to developments in microfluidics, imaging, and sequencing technology.
North America has a Significant Revenue Share in the AI in the Omics Studies Market Region.
The AI in omics studies market has expanded across North America, Latin America, Europe, the Middle East & Africa, and Asia-Pacific. In the global Al in omics studies market, artificial intelligence is most prevalent in North America. It points to a number of factors, including the prevalence of biotech and pharmaceutical businesses, supportive laws for advances in genomics and artificial intelligence, cutting-edge research facilities, and substantial financing for these fields. In addition, other significant factors propelling the regional market include the availability of enormous data resources, the growth in partnerships between academic institutions, technology companies, and industry players, and the adoption of cutting-edge technologies like artificial intelligence and their integration into clinical applications & genomics research.
Recent Developments:
- In November 2023, biotechnology companies OWKIN and 10x Genomics, Inc., jointly announced that they have reached an agreement to incorporate 10x Genomics' single-cell and spatial omics technologies to their work in tumour investigation for potential therapeutic targets.
- In September 2023, Janssen Global Services, LLC, a pharmaceutical firm, and Intelligent OMICS Ltd., a biotechnology company, agreed to a partnership in AI-driven research. The goal of the partnership with Janssen Global Services, LLC is to identify new biological targets that can be used to treat haematological malignancies.
- In June 2022, the Ultima Genomics firm and Nvidia announced that they are partnering to separate AI at various stages of the DNA sequencing and analysis process. Accelerating variant calling and deep learning in photometry and base calling are two aspects of the relationship.
Al in Omics Studies Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 633.46 Mn |
|
Revenue Forecast In 2031 |
USD 5,445.6 Mn |
|
Growth Rate CAGR |
CAGR of 31.2% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Offering, By Technology Platform, By Application, By End-user and By Region |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
|
Competitive Landscape |
Thermo Fisher Scientific, Agilent Technologies, Illumina, BGI Genomics, Dassault Systemes, Qiagen, Waters Corporation, GE Healthcare, Amazon Web Services, Inc, Bruker, Danaher and Other Prominent Players. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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