The global AI in omics studies market involves the application of artificial intelligence technologies to analyze large volumes of omics data, including genomics, proteomics, metabolomics and other 'omics' data types. AI helps researchers and clinicians gain insights from omics datasets that would otherwise be impossible to discern without computational assistance. It allows for rapid identification of disease subtypes, prognosis of disease progression, prediction of drug responses and more. The increasing scope of precision medicine approaches relies heavily on AI-powered analysis of multi-omics data to develop individualized disease diagnosis and treatment.
The Global AI in Omics Studies Market is estimated to be valued at US$ 639.8 million in 2024 and is expected to exhibit a CAGR of 32% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the AI in omics studies are Thermo Fisher Scientific, Agilent Technologies, Illumina, BGI Genomics, Dassault Systèmes, Qiagen, Waters Corporation, GE Healthcare, Amazon Web Services, Inc., Bruker. These players are focusing on developing advanced AI and machine learning models along with multi-omics data integration platforms to gain competitive advantage.
The key driver for growth in Global AI in Omics Studies Market Growth is increasing adoption of precision medicine approaches for disease diagnosis and treatment across various therapeutic areas like oncology, cardiology, neurology etc. Precision medicine relies heavily on comprehensive analysis of molecular level changes in a patient which multi-omics studies powered by AI can provide.
On the technological front, advancement in AI algorithms, availability of massive computational power through cloud platforms and integration of data from different omics domains is expected to unlock hidden insights from omics data and accelerate drug discovery.
Market Trends
One of the key trends is growing adoption of AI in clinical settings for applications like assisting disease diagnosis, prognosis, monitoring disease progression and drug responses. Another trend is increased focus on development of AI platforms for integrated analysis of multi-omics datasets for precision medicine.
Market Opportunities
Major opportunities lie in assistance, monitoring and management of chronic and complex diseases using AI powered analysis of molecular level changes. Secondly, AI can be leveraged for agricultural and environmental applications by studying plant, microbial or ecosystem omics datasets.
Impact of COVID-19 on Global AI in Omics Studies Market
The COVID-19 pandemic has significantly impacted the growth of the global AI in omics studies market. The restrictions imposed to curb the spread of novel coronavirus has disrupted supply chains and stalled clinical trials and research activities globally. This has hampered data generation for AI model training. However, AI tools have proven beneficial for studying the virus genomics and predicting drug-target interactions to accelerate vaccine and therapy development. AI is being utilized to analyze omics data from COVID-19 patients to better understand disease pathology, progression and find potential biomarkers and drug targets. The demand for AI solutions from pharma-biotech and research institutes has increased post pandemic to aid in discovery and development of treatments. As research activities and clinical trials resume gradually, the market is expected to bounce back and witness high growth in the forecast period with increased investments in AI-driven omics and drug discovery.
Geographical Regions with Major Concentration of Global AI in Omics Studies Market
North America accounts for the largest share of the global AI in omics studies market in terms of value. This is attributed to presence of major players, well-established healthcare infrastructure, higher adoption of advanced technologies and big data analytics capabilities in the region. The US contributes significantly to the North American market share.
Fastest Growing Region for Global AI in Omics Studies Market
Asia Pacific is poised to be the fastest growing region for the AI in omics studies market during the forecast period. This is due to increasing government funding for R&D and emergence of regional players offering cost-effective solutions in countries such as China and India. Rising cancer burden, focus on precision medicine and growing collaboration between research centers and technology companies are expected to drive high demand from Asia Pacific.
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