Artificial Intelligence in Genomics Market

The global artificial intelligence (AI) in genomics market is projected to reach USD 2.0 billion by 2028 from USD 0.5 billion in 2023, at a CAGR of 32.3% during the forecast period. Growth in this market is predominantly driven by the need to accelerate process and timeline and reduce costs of drug development and discovery and improving computing power and declining hardware cost. However, the lack of curated genomic data is expected to hamper the growth of this market during the forecast period to a certain extent.

Prominent players in the artificial intelligence (AI) in genomics market include NVIDIA Corporation (US), Microsoft Corporation (US), Google, Inc. (US), Intel Corporation (US), BenevolentAI (UK), SOPHiA GENETICS (Switzerland), Illumina, Inc. (US), Predictive Oncology, Inc. (US), Invitae Corporation (US), Deep Genomics, Inc. (Canada), Fabric Genomics, Inc. (US), Verge Genomics (US), Freenome Holdings, Inc. (US), MolecularMatch, Inc. (US), Dante labs (US), Data4Cure (US), PrecisionLife Ltd (UK), Genoox (US), Lifebit (UK), FDNA, Inc. (US), DNAnexus (US), Engine Biosciences (US), Tempus Labs, Inc. (US), Congenica Ltd (England), Emedgene, Inc. (US), and Seragon Pharmaceuticals, Inc. (US). These companies adopted strategies such as product launches/enhancements, expansions, agreements, partnerships, collaborations, investments, joint ventures, and acquisitions to strengthen their market presence in the artificial intelligence (AI) in genomics market. To remain competitive, major market players are focusing on expanding into fast-growing emerging markets and acquiring smaller companies with favorable technological capabilities or geographic presence.

NVIDIA Corporation develops graphics processing units (GPUs) and delivers value to consumers through PC, mobile, and cloud architectures. The company focuses on developing deep learning, machine learning, and other AI technologies. It operates through two reportable segments—Graphics and Compute & Networking. The tools provided by the company assist life science companies in meeting the rising demand for personalized medicines. NVIDIA Clara is a healthcare-specific developer tool built on its computing platform. NVIDIA Clara Parabricks accelerates runtimes across a range of hardware configurations using NVIDIA A100 Tensor Core GPUs, from FastQ to Variant Call Format (VCF). This tool accelerates every step of the analysis workflows, from alignment to sorting to variant calling, and improves the efficiency of genomic researchers. As more GPUs are added, compute times scale near linearly compared to CPU-only systems, allowing for up to 80X acceleration. NVIDIA Corporation has more than 50 offices worldwide spread across the Americas, Asia, and Europe. NVIDIA Corporation significantly invests in R&D activities to add technologically innovative solutions to its portfolio and collaborations, which helps it to strengthen its market presence.

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Microsoft offers software products and diverse licensing suites. The company operates through three reportable segments — Productivity & Business Processes, Intelligent Cloud, and More Personal Computing. It offers its Azure platform through the Intelligent Cloud segment. The company’s AI and cloud-based Microsoft Azure platform offers computing, networking, storage, database, and management services to enterprises. The platform assists pharmaceutical and life science companies in accelerating precession medicine through secure and reliable global data storage and computation services. The platform also supports pharmaceutical companies to accelerate innovation and improve operational outcomes. The company operates in more than 190 countries across America, Europe, the Middle East & Africa, and the Asia Pacific. Some of its subsidiaries include Microsoft Ireland Research, Microsoft Global Finance (Ireland), Microsoft Online, Inc. (US), Microsoft Regional Sales Pte Ltd (Singapore), and LinkedIn Corporation (US). The company focuses on product launches/enhancements and partnerships to increase its share in the artificial intelligence (AI) in genomics market.

Related Reports:

Artificial Intelligence In Genomics Market by Offering (Software & Services), Technology (Machine Learning), Functionality (Gene Sequencing, Gene Editing), Application (Diagnostics, Drug discovery), End User (Pharma, Hospitals) - Global Forecasts to 2028

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