AI In Genomics Market To Rise At Modest Growth With CAGR And Revenue Till 2030|Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on July 17th, 2023 San Francisco, 17 July 2023: The ReportAI In Genomics Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Technology (Machine Learning), By Functionality, By Application, By End-use, By Region, And Segment Forecasts, 2023 – 2030 The global AI in genomics market size is expected to reach USD 9.99 billion by 2030 to expand at a CAGR of 46.0% from 2023 to 2030, based on a new report by Grand View Research, Inc. The market growth can be attributed to the rising need for big data management, growing preference for precision medicine, improved accuracy & efficiency, cost-effectiveness, and advancements in AI technology. These factors are creating a demand for innovative software solutions that can help to manage and analyze large amounts of genomic data to advance the genomics industry. The industry had a significant impact due to the COVID-19 pandemic, leading to increased investments, a focus on personalized medicine, and the growth of telemedicine. The pandemic led to increased investments in the fields of AI and genomics, as governments, organizations, and private companies looking for ways to cope with the impact of the pandemic. These developments helped to accelerate the expansion of new AI tools and technologies in the genomics industry. AI has nearly endless potential applications in the field of genomics, and it is already starting to revolutionize healthcare. For instance, AI is being used by Freenome, a U.S.-based company, to detect cancer as the technology from Freenome examines a patient's blood sample to detect any indications of cancer. Leading healthcare organizations like the Mayo Clinic use the company's test, and it has raised around USD 100 million from investors. The COVID-19 pandemic had a positive impact on the market as it accelerated the development of computing solutions that sped up the understanding of the scope, scale, and severity of the pandemic. Key market players in the healthcare sector collaborated to create new computing solutions to develop vaccines and drugs at a significant speed. For instance, NVIDIA created new tools for genomic sequencing and artificial intelligence to aid researchers in tracking and treating COVID-19 cases. Researchers and medical professionals were able to better grasp the COVID-19 genetic variants with the use of powerful artificial intelligence (AI) tools and genome sequence analysis. Request sample report of AI In Genomics Market@https://www.grandviewresearch.com/industry-analysis/ai-genomics-market-report/request/rs1 AI In Genomics Market Report Highlights
Genomics is a rapidly advancing field that is increasingly reliant on artificial intelligence. AI can identify patterns and connections in genetic data that would be difficult for humans to detect, leading to improvements in the development of new therapies for diseases, more accurate diagnoses, and personalized patient care. In addition, AI is being used to create digital models of the human body, which can be used to assess the safety and effectiveness of potential new drugs. Have a Query? Ask Our Expert:https://www.grandviewresearch.com/inquiry/454201/ibb Genome sequencing companies are collaborating with AI technology-based companies to accelerate the procedures. For instance, in January 2022, PacBio, a provider of genome sequencing technologies collaborated with Google. Under the collaboration terms, PacBio was expected to utilize Google's algorithm development, genomic analysis, and machine learning tools to enhance PacBio's existing HiFi sequencing operations and provide new information from PacBio sequencing data. AI In Genomics Market Report Scope
List of Key Players in AI In the Genomics Market
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