Artificial Intelligence in Digital Genome Market, by Offering (Software and Services), by Technology (Machine Learning and Computer Vision), by Functionality (Genome Sequencing and Gene Editing), by Application (Diagnostics, Drug Discovery & Development, Precision Medicine, Agriculture & Animal Research, and Other Applications), by End User (Pharmaceutical & Biotech Companies and Research Bodies), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published In : Dec 2021

Code : CMI4824

Pages :156

Formats :

Excel and PDF

Industry : Healthcare IT

Artificial Intelligence In Digital Genome MarketSize and Trends

The global artificial intelligence in digital genome market is estimated to be valued at US$ 269.8 million in 2021 and is expected to exhibit a CAGR of 44.8% during the forecast period (2021-2028).

Figure 1. Global Artificial Intelligence in Digital Genome Market Share (%) in Terms of Value, By Technology, 2021

Rise in need to control discovery cost & time during new drug development is expected to drive the market growth during the forecast period.

Rise in need to control discovery cost & time during new drug development is expected to drive the global artificial intelligence in digital genome market growth over the forecast period. Drug development is a lengthy, complex, and costly process owing to which there is a need for alternative tools in discovering new drugs. Drug discovery and development is commonly conducted through in vivo and in vitro methods, which are very costly and time-consuming. Artificial intelligence increasing roles in drug discovery, potentially saving significant time and money. Thus, this is expected to drive the growth of the market over forecast period.

Figure 2. Global Artificial Intelligence in Digital Genome Market Share (%), By End User, 2021

Increase in investments in Artificial Intelligence in genomics are expected to drive the market growth during the forecast period.

Increase in investments in artificial intelligence in genomics is expected to drive the global artificial intelligence in digital genome market growth during the forecast period. For instance, in July 2021, Deep Genomics, a leading artificial intelligence (AI) therapeutics company, had raised US$ 180 Million funding in Series C financing round to expand its artificial intelligence (AI) discovery platform for ‘Programmable’ RNA therapeutics and scale its portfolio into the clinic. The financing round is led by SoftBank Vision Fund 2, is a venture capital fund founded in 2017 with other new investors including Canadian Pension Plan Investment Board (CPP Investments), Alexandria Venture Investments, Khosla Ventures, Fidelity Management & Research Company, Amplitude Ventures, Magnetic Ventures, and True Ventures.