by Artificial intelligence (AI) technologies are playing an increasingly important role in digital genomics by facilitating DNA sequencing, gene editing applications, and personalized medicine. AI helps analyze complex genomics data and improves diagnostics by finding patterns that humans alone often miss. These technologies are powering critical discoveries and fueling advancements that are transforming human health. AI also helps tackle challenges related to analyzing the huge volumes of data generated through genome sequencing and gene expression profiling. Growing need for accurate disease prognosis and improved clinical decision making is accelerating the adoption of AI tools in genomics.
The global Artificial Intelligence in Digital Genome Market is estimated to be valued at US$ 565.69 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Global Artificial Intelligence In Digital Genome Market Size is the growing adoption of machine learning and deep learning approaches. Machine learning algorithms can analyze huge genomic datasets and detect patterns or anomalies that humans may miss. Deep learning models are particularly useful for image and signal analysis tasks on genomic data. Several companies are developing AI-powered platforms that incorporate machine learning and deep learning to accelerate genomic data analysis and make discovery of insights faster. Another major trend is the integration of AI with blockchain. Storing genome data on blockchain networks with embedded intelligent algorithms will make genomic data sharing seamless while maintaining privacy and security. This will help unlock the true potential of precision medicine through collaborative genomic research worldwide.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the AI in digital genome market requires significant R&D investments and technological capabilities.
Bargaining power of buyers: The bargaining power of buyers is high as there are numerous players offering AI solutions for digital genome. Buyers can negotiate on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitute raw materials and components.
Threat of new substitutes: The threat of substitutes is low as AI solutions offers uniqueness in analysis of genome that cannot be replicated easily.
Competitive rivalry: The competitive rivalry is high among existing players to increase their revenue and market share.
Key Takeaways
The global Artificial Intelligence in Digital Genome Market is expected to witness high growth over the forecast period. The global Artificial Intelligence in Digital Genome Market is estimated to be valued at US$ 565.69 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
Regional analysis:
North America is expected to account for around 40% share of the global market by 2030. Asia Pacific is projected to grow at fastest pace over the forecast period supported by increasing government funding for development of novel AI solutions and presence of emerging economies like China and India in the region.
Key players: Key players operating in the Artificial Intelligence in Digital Genome Market are Coltene Group, Omni Technologies, Kulzer GmbH, Sultan Healthcare, Sanhill Medical Instrument, PrimaDent, Dentsply Sirona, Patterson Dental, Premier Dental Products, Zirc Dental Products, Hager & Werken, Ansell Healthcare, MEDICEPT, DENKO Co, Jovident, Pascal International, Medicom, Lohmann & Rauscher, Hygenic Corporation, Plasti Surge Industries. Major players are focusing on new product launches and partnerships to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
