Market Is Estimated To Witness High Growth Owing To Growing Demand For Personalized Medicine & Advancements In AI and Genomics Technologies

Artificial Intelligence In Digital Genome Market 

The Artificial Intelligence In Digital Genome Market is estimated to be valued at US$ 269.8 million in 2023 and is expected to exhibit a CAGR of 44.8% over the forecast period of 2023-2028, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Artificial intelligence facilitates the analysis of genomic data and helps discover meaningful patterns for disease diagnosis and drug development. AI in genomics is used for various applications such as genome analysis, precision medicine, non-invasive prenatal testing, and drug discovery. It aids in the detection of genetic variants, identification of disease-causing genes, and helps predict disease risks and drug responses at an individual level with high accuracy.

Market Dynamics:
Growing demand for personalized medicine: Advances in genomics and artificial intelligence have enabled the discovery of genetic basis of diseases and development of personalized treatment plans. AI aids in analyzing massive amounts of genomic and clinical data to provide tailored treatment and care based on an individual's genetic profile. This is expected to drive the demand for AI in digital genome solutions over the forecast period.
Advancements in AI and genomics technologies: Continuous technological advancements are improving computational capabilities for analyzing large genomic datasets. Developments in areas such as machine learning, deep learning, and cloud computing are making AI more efficient and scalable for precision medicine applications. Moreover, next-generation sequencing technologies are making whole genome sequencing affordable and widely accessible. These technological developments are supporting the integration of AI and genomics.

SWOT Analysis:

Strength: Artificial intelligence in digital genome has the potential to improve healthcare outcomes and transform drug discovery. AI can analyze massive genomic datasets and medical records faster than humans. It allows to identify new genetic targets and speed up researchers.

Weakness: Lack of skilled workforce and high investment requirements are major challenges for the growth of artificial intelligence in digital genome market. Data privacy and security concerns also limit the widespread adoption of these technologies.

Opportunity: Growing genomics market andincreasing funding for genomic research presents huge opportunities for AI tools providers. Developing economies also offer scope of growth due to rising healthcare expenditures.

Threats: Slow regulatory approvals and reluctance among physicians to adopt new technologies are major threats. Ethical issues related to genomics data use can limit collaborations between companies.

Key Takeaways

The Global Artificial Intelligence In Digital Genome Market is expected to witness high growth, exhibiting CAGR of 44.8% over the forecast period, due to increasing funding for genomic research and drug discovery. North America dominates the market currently due growing genomics industry in the US.

Regional analysis:

North America is expected to dominate the artificial intelligence in digital genome market during the forecast period. Presence of leading players and growing genomics research drives the regional market. The US contributes significantly owing to increasing R&D investments. Asia Pacific shows high growth potential with expanding healthcare infrastructure in countries like China and India.

Key players related content:

Key players operating in the artificial intelligence in digital genome market are NVIDIA Corporation, IBM, Microsoft, Fabric Genomics Inc., Verge Genomics, MolecularMatch Inc., SOPHiA GENETICS, PrecisionLife Ltd, BenevolentAI, and Deep Genomics. NVIDIA provides GPUs and AI platforms used by genome analysis companies. IBM is working on clinical genomics projects using AI and cloud.

Read More - https://www.dailyprbulletin.com/the-future-of-digital-genome-mapping-demand-size/

 

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