The Artificial Intelligence in Genomics Market is expected to reach $6.22 billion by 2029, at a CAGR of 42.8% from 2022 to 2029.
The Role of Genomics in Modern Science Genomics focuses on studying the complete set of genes (genomes) through a range of processes such as sequencing, mapping, and analyzing genes. It plays a crucial role in understanding the genetic blueprint of organisms. Recently, Artificial Intelligence (AI) has become a significant asset in genomics, providing robust solutions in variant calling, genome annotation, variant classification, and genetic diagnosis. These advancements allow companies to explore genomics further, especially in areas like drug discovery, diagnostics, and precision medicine. The continuous technological improvement has revolutionized the process of mapping the human genome by making it more accurate, cost-effective, and time-efficient.
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Applications of Genomic Research in Multiple Fields The applications of genomics span across various domains, including medicine, biotechnology, agriculture, and even social sciences. AI's role in genomics has been expanding rapidly in recent years. Data from the National Human Genome Research Institute in 2021 indicates that genomic research is expected to generate an astounding 2–40 exabytes of data within the next decade. The growing complexity of this data, largely due to DNA sequencing and other biological techniques, necessitates the use of AI-based computational tools to manage, extract, and analyze these datasets effectively.
AI Enhancing Clinical Interpretations AI-based tools offer significant advantages by translating complex genomic data into actionable clinical information. This capability helps in the development of personalized and targeted therapies for specific patient groups. The integration of AI in genomics is accelerating, and developers of AI platforms are increasingly seeking financial support to expand their technological offerings and contribute to advancements in the field.
Recent Developments and Funding Initiatives Several companies have made noteworthy strides in AI-driven genomics research through funding initiatives. For example, in March 2022, Illumina Accelerator invested in seven omics startups that are advancing in areas like diagnostics, DNA storage, and mental wellness. Another AI-driven proteogenomics company, NonExomics, is developing a platform to map novel drug targets from underexplored genomic regions. Cloud-based data analysis platform DNAnexus secured $200 million in financing for the development of its AI and machine learning-based genomics platform, while SeqOne Genomics raised $23.66 million to fund genomic analysis solutions for personalized medicine. Deep Genomics, an AI therapeutics company, received $180 million in funding to further advance its AI capabilities.
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Conclusion The growing investments from private and public sectors, alongside the integration of AI in genomics, are expected to propel the global AI in genomics market at a CAGR of 42.8%, reaching $6.22 billion by 2029. The advancements in AI technology are paving the way for significant breakthroughs in precision medicine and genomics research, ushering in a new era of healthcare innovation.
Key Players
The key players operating 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.).
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