AI in Genomics Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

AI in Genomics Market Size

AI in Genomics Market Growth Drivers & Opportunities

Usage of AI-Driven Genomics in Precision Medicine Is Biggest Trend

• With an increase in the understanding of the role of genes in disease development and therapy effectiveness, the area of precision medicine has garnered huge support from governments, technology companies, healthcare organizations, and pharmaceutical firms.
• As per estimates, the global precision medicine market could cross USD 730 billion by 2030, driven by the rising demand for tailored healthcare solutions, especially for people with chronic diseases; burgeoning medical tourism industry, and government support for healthcare enhancement.
• For a better understanding of a person’s entire genome, AI is becoming increasingly popular.
• By combining patient history with ML algorithms and global healthcare trends, forecasting the risk of diseases can become simpler and more accurate.
• This can also offer the advantage of precision and speed during clinical trials; on average, it can take 10 years for a drug to go from concept to commercialization. For targeted therapies, the duration could be even longer.
• A human genome can contain up to 5 million variants compared to a reference sequence.
• Therefore, extreme care must be taken while analyzing someone’s genes for any purpose.
• AI is being used to automate this process and take some of the burden off the shoulders of researchers, while yielding insights that are accurate, quick, and reliable.
• Moreover, with AI, NGS can be strengthened to identify risk factors and come up with the best possible drug for specific diseases and predict their effect.

Growing Prevalence of Chronic Diseases Drives Market

• The biggest driver for the market is the continuous increase in the incidence of chronic diseases, especially respiratory disorders, heart ailments, diabetes, and neurodegenerative issues.
• Apart from environmental and lifestyle-associated causes, such as pollution, lack of exercise, consumption of tobacco and alcohol, and, sometimes, infection, every chronic disease has a genetic component.
• Most diabetes patients have either the HLA-DR4 or HLA-DR3 gene, which is associated with autoimmunity.
• Genetic mutation is one of the bases for cancer classification, with a particular type of cancer itself having different variants based on the exact gene that is defective.
• ATM, BRCA1, BARD1, BRCA2, CDH1, CHEK2, NF1, PTEN, PALB2, RAD51D, RAD51C, STK11, and TP53 are the most-common genetic mutations seen in hereditary breast cancer in women.
• The TP53, KRAS, and EGFR genetic mutations seen in lung cancer are somatic, meaning they happen after conception and are, therefore, not passed on to the next generation.
• Inheriting the asthma gene makes someone up to 6 times more likely of developing this condition than someone who does not have a parent with it.
• By using AI-driven genomics approaches, people’s risk to specific chronic ailments can be assessed early, enabling the deployment of preventive techniques and more-effective therapies in the disease’s initial stages.

Lack of Curated Genomic Data and Skilled Workforce Hampers Market Growth

• A key restraint for the market is the lack of a workforce skilled not only in carrying out genomic studies but also utilizing AI to its full potential in this area of healthcare.
• Professionals must be adept in numerous AI techniques, such as ML, image recognition, deep learning, machine intelligence, and cognitive computing.
• Moreover, it is difficult to integrate AI into the current systems to mimic human behavior as it requires a huge amount of data to be processed.
• While earlier datasets were small, structured, and manually entered into databases, newer ones are vast and unstructured, usually in the form of images, voice recordings, and text.
• Significant amounts of labeled data are required to train ML models, and extracting such high volumes creates a need for lots of time and skilled human resources.
• Moreover, regulations, such as GDPR, HIPAA, and HITECH, pressurize entities into carefully extracting the data, so that the critical information of people is protected from criminals.

AI in Genomics Market Analysis

Delivery Mode Insights

The on-premises bifurcation holds the larger share in the AI ion genomics market, of 65%, in 2024. This is attributed to the criticality of patients’ healthcare data and the stringent government regulations around the world that mandate its protection. Deploying software onsite offers better control over the entire process, allowing for deeper collaboration and precise insights.

The cloud-based AI in genomics market is projected to witness the faster growth compared to the on-premises market. The major reason behind this growth is the ability of cloud-based solutions offer to access, analyze, and store data and compile all of it in a single location. Moreover, on-premises solutions are becoming unfeasible with the increasing size of genomics databases. The size of the raw data generated from a single human sequence is approximately 200 Gigabytes, and the increasing awareness about genome sequencing would result in a surge in the number of human genome sequencing studies conducted during the forecast period. This would make on-premises AI solutions even more difficult to work with, thus boosting the demand for their cloud deployment.

The following delivery modes are analyzed:

• On-Premises (Larger Category)
• Cloud-Based (Faster-Growing Category)

 Functionality Insights

Gene sequencing dominates the market in 2024, with 55% share. Sequencing the gene is the first step in understanding a person’s genome. This is why it is widely performed for precision medicine, genetic research, and disease diagnosis.

Gene editing is projected to witness the highest CAGR, of 49.8%, over the forecast period. For the treatment of most genetic diseases, gene correction is required, rather than disruption. The technology developed so far for the same is clustered regularly interspaced short palindromic repeats (CRISPR), which slices DNA to treat diseases. Its systemic delivery in a human body was first demonstrated in a clinical trial in June 2021.

We have considered the following functionalities:

• Genome Sequencing (Largest Category)
• Gene Editing (Fastest-Growing Category)
• Others

Application Insights

The clinical diagnostics & research category holds the largest share, in 2024. Genomic studies are widely conducted for the diagnosis of chronic diseases, as well as research in oncology, endocrinology, neurology, cardiology, and other critical subspecialties. Currently, a number of precision medicine studies are underway, and their success will further pave the way for the clinical trials of targeted therapies.

Translational precision medicine will witness the highest CAGR, of 49.9%, during the forecast period. This concept integrates components of both translational medicine, i.e., mechanism-based early drug development; and precision medicine, i.e., patient-centric late drug development; into a drug development cycle guided by biomarkers. Biotechnology companies are shifting to AI for the discovery and development of drugs. Thus, AI-driven genomics is widely used in the field of translational precision medicine.

This segment is categorized as follows:

• Translational Precision Medicine (Fastest-Growing Category)
• Clinical Diagnostics & Research (Largest Category)
• Others

End User Insights

Pharma and biotechnology companies generate the highest revenue in the artificial intelligence in genomics market, and this category is expected to witness the faster growth during the forecast period. Companies are using AI for improving decision making and the efficiency of research and clinical trials, along with optimizing innovation and creating new tools for regulators, physicians, insurers, and consumers. According to a study conducted in 2021, 62% of the healthcare organizations were thinking of investing in AI, and 72% of the companies believe AI would be crucial to how they do business in the future. Additionally, 50% of the organizations plan to implement AI strategies and adopt them by 2025.

The report offers insights for the below-mentioned end users:

• Pharma & Biotech Companies (Largest and Fastest-Growing Category)
• Genome Centers
• Others

Geographical Analysis

• North America dominates the AI in genomics market, with 45% market share in 2024, due to the heavy research funding received by biotech and IT companies from governments and private equity entities in the region.
• For instance, in March 2022, the CDC announced a new competitive cooperative agreement that would provide funding to establish the Pathogen Genomics Centers of Excellence (PGCoE) network in the U.S.
• The APAC region will grow the fastest, at a CAGR of 50.0%, over the forecast period.
• The surging rate of chronic diseases as a result of the rising geriatric population, unhealthy lifestyle habits, and increasing levels of urbanization, are driving healthcare costs.
• This is impelling both the public and private sectors to up their investments in an enhanced healthcare system capable of better tackling these long-term ailments, preferably catching them before symptoms manifest.
• Thus, an increasing number of research collaborations are being established centered around genomics, one of which is Genome India Project.
• Overseen by the Centre for Brain Research at the IISc, Bengaluru, it involves the whole-genome sequencing of the DNA of 10,000 people, to understand the disease profile of the Indian population and develop targeted therapies and preventive programs.

The following regions and countries are covered in the report:

• North America (Largest Regional Market)
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • Germany (Largest and Fastest-Growing Country Market)
  • U.K.
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • Japan
  • India (Fastest-Growing Regional Market)
  • Australia
  • South Korea
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest and Fastest-Growing Country Market)
  • Mexico
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Turkey (Largest Country Market)
  • Saudi Arabia
  • South Africa (Fastest-Growing Regional Market)
  • U.A.E.
  • Rest of MEA

Artificial Intelligence in Genomics Market Share

The AI in genomics market is consolidated, majorly as a result of the high entry barriers because of the technically demanding nature of this field. The risk of non-compliance to medical safety and data protection regulations also makes it difficult for new companies to enter this market. This is why only large life sciences and HIT software vendors hold sway in this field, catering to prominent healthcare centers, research institutions, and pharma and biopharma companies. Moreover, many HIT companies offer integrated solutions for various aspects of AI-driven genomics studies and for various purposes.

AI in Genomics Market News

• In July 2023, IBM Corporation and HCLTech launched a new center of excellence centered around the watsonx platform. This will allow customers of HCLTech to access watsonx to create, scale, and customize AI solutions for customers in various fields.
• In June 2024, NVIDIA Corporation made the NVIDIA AI Enterprise-IGX with NVIDIA Holoscan software available on the NVIDIA IGX platform. This move allows the medical, scientific computing, and industrial sectors to quickly develop and deploy edge AI solutions faster.
• In June 2024, BenevolentAI announced that a second target developed in collaboration with AstraZeneca plc has been added to the latter’s discovery portfolio.
• In September 2023, Deep Genomics launched BigRNA, its AI foundational model that can predict the Biran binding sites of proteins and microRNAs, tissue-specific regulatory mechanisms of RNA expression, and how variants and candidate therapeutics affect the body accurately.