AI in Precision Medicine Market

The AI in precision medicine market is projected to reach USD 377.1 million by 2029 from USD 172.4 million in 2024, at a CAGR of 17.2% from 2024 to 2029. The major factors driving the growth of the AI in precision medicine market include rapidly increasing need for more customized treatments, improvement in genomics and multi-omics technologies, and a drive to accelerate drug development is driving advances in AI in precision medicine. The ability of AI to analyze such complex biological and clinical data thus allows quicker identification of mechanisms for the disease as well as tailored therapies. Additionally, factors such as increasing costs of healthcare and failures of traditional approaches pave the way for embracing AI in an aim to optimize diagnostic procedures, advance the methodologies of treatment, and elevate patient outcomes.

The major players in the AI in precision medicine market with a significant global presence are NVIDIA Corporation (US), Google, Inc. (US), Microsoft (US), IBM (US), Illumina, Inc. (US), Exscientia (UK), Insilico Medicine (US), GE Healthcare (US), Tempus (US), Siemens Healthineers AG (Germany), BioXcel Therapeutics, Inc. (US), BenevolentAI (UK), PathAI, Inc. (US), Guardant Health (US), GRAIL, Inc. (US), FOUNDATION MEDICINE, INC. (US), FLATIRON HEALTH (US), Proscia Inc. (US), DEEP GENOMICS. (Canada), Verge Genomics (US), Predictive Oncology (US), Paige AI, Inc. (US), Densitas Inc. (Canada), Zephyr AI (US), and Iktos (France). The market players have adopted strategies such as acquisitions, collaborations, partnerships, mergers, product/service launches & enhancements, and approvals to strengthen their position in the AI in precision medicine market. The product and technology innovations have helped the market players expand globally by providing advanced AI technologies and platforms to enhance treatment predictions and personalized care.

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NVIDIA Corporation

NVIDIA Corporation designs and develops graphics processing units (GPUs), personal computers (PCs), mobile and cloud architectures, among other technologies. The company creates deep learning, machine learning, and other artificial intelligence technologies. The company's products are used in a variety of industries, including architecture, engineering, construction, and operations; automotive; consumer internet; cybersecurity, energy, and financial services; healthcare and life sciences; higher education; game development; manufacturing; media and entertainment; public sector; restaurants; retail and CPG; robotics; smart cities and spaces; supercomputing; telecommunications; and transportation. NVIDIA Corporation has two primary business segments, which are Graphics, and Compute & Networking.

Nvidia's GPUs are utilized in Artificial Intelligence workloads for drug discovery applications like molecular modelling and simulations, including ML. Nvidia's offer for drug discovery serves a wide range of applications beginning with development tools, libraries and frameworks for authoring and running AI solutions. NVIDIA Clara Discovery is a body of software developed to enable the understanding of drug discovery using AI. NVIDIA Clara Guardian is an integrated solution that comprises multimodal artificial intelligence and smart sensors aimed at optimizing the healthcare services delivered within medical facilities. NVIDIA BioNeMo, as an AI generative platform, is suited towards the process of drug development, containing flexible and adaptable AI technologies for prediction of protein structure, molecular generation and molecular property predictions.

Headquartered in Santa Clara, CA, NVIDIA Corporation has over 50 offices geographically spread in North America, Asia, Europe, the Middle East, and Africa, Latin America. The latter has production units within the United States and Taiwan. In addition, the company collaborates with other pharmaceutical and biotech companies in the quest to create innovative drug discovery systems that rely on Artificial intelligence.
Google, Inc.

In terms of global technology advancements, Google is one of the leaders, and the main areas of its activities are advertising, search, operating systems and platforms, as well as enterprise and hardware goods. Alphabet, Inc. is the parent company of Google. Its search segment provides a wide range of search engine services, including an index of numerous websites and other online materials.

Google differentiates its revenue streams into two operating segments: Google Services, Google Cloud, and the Other Bets. The organization operates as a conglomerate and the major share of the revenue earned is from Google Services. The main products of Google include – Advertisements, Search, Maps, Chrome, the Android operating system, YouTube, Google Play and Commerce, Hardware and Gmail. The organization has several subsidiaries that allow it to do business in the health sector including TensorFlow, Google X, DeepMind Technologies Limited, Calico and GV. Google Brain is an internal branch of the corporation that focuses on creating various kinds of artificial intelligence such as machine learning algorithms and other artificial intelligence applications, speech and music synthesis art, and even robotic systems. In addition, Google provides solutions powered by Al technologies aimed to speed up drug invention, such as the Target and Lead Identification Suite, Multiomics Suite, and Google DeepVariant. These tools are designed to make the drug target and drug lead identification process precise and effective, and they indicate that Google is helping in the development of pharmaceuticals using Al technology. The organization has more than 85 regional offices across the world in about 50 countries.

Microsoft

Microsoft provides software and various license suites. The corporation has three reportable segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The company's Azure platform is available through the Intelligent Cloud segment. The company's Al and cloud-based Microsoft Azure platform offers computing, networking, storage, database, and administration services. The platform helps pharmaceutical and life science organisations speed precision medicine by providing secure and dependable worldwide data storage and processing services. The platform also helps pharmaceutical businesses accelerate innovation and improve operational performance.

The company delivers a variety of cloud, mobile, and productivity solutions. Microsoft's cloud products include SaaS, LaaS, and PaaS. Microsoft has made significant investments in managed services for the hybrid cloud, lot, and edge computing platforms. Microsoft's innovations, such as Azure Sphere, Digital Twins, and Azure IoT Central, have propelled them ahead of the competition in the IoT and edge computing industries. The company introduced Azure Edge Zones, which combine cloud-managed services, hardware, and high-speed 5G networks. The company is present in approximately 190 countries spanning the Americas, Europe, the Middle East and Africa, Asia Pacific, and Latin America.

Related Reports:

AI in Precision Medicine Market by Application (Drug Discovery, Clinical Development, Diagnostics, Risk Management, Therapeutics), Therapeutic Area (Oncology, Neurology, Cardiology), Tools (ML, NLP, Computer Vision), & End User - Global Forecast to 2029

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