REPORT HIGHLIGHT
AI in Bioinformatics Market size was valued at USD 7,267.5 Million in 2022, expanding at a CAGR of 36.1% from 2023 to 2030.
To analyze and understand biological data, the interdisciplinary field of bioinformatics combines biology, computer science, mathematics, and statistics. In several fields of bioinformatics, insights are extracted from enormous amounts of biological data, data integration is facilitated, and decision-making is supported by AI techniques and algorithms.
AI in Bioinformatics Market- Market Dynamics:
Increasing need to analyze biological data is expected to propel the AI in Bioinformatics demand.
Biological data is frequently varied, multifaceted, and complex. When dealing with such complicated data, AI methods like machine learning and deep learning are well suited to find patterns, correlations, and prediction models. Sequence alignment, gene expression analysis, and protein structure prediction are a few examples of activities that AI can help with, and which would be difficult or time-consuming to complete using conventional techniques. The generation of biological data has grown exponentially because of improvements in high-throughput technologies like omics and next-generation sequencing. Large-scale datasets must be managed, and significant insights must be extracted in order to process, integrate, and analyze data effectively.
In personalized medicine, where therapies are customized to individual patients based on their genetic make-up, clinical data, and lifestyle factors, AI-driven methods are essential. AI can examine patient data, find biomarkers, forecast illness outcomes, and suggest tailored treatment regimens. This may result in focused medicines that are more efficient and improve patient outcomes.
AI in Bioinformatics Market- Key Insights:
- As per the analysis shared by our research analyst, the global AI in Bioinformatics market is estimated to grow annually at a CAGR of around 36.1% over the forecast period (2023-2030)
- The AI in Bioinformatics industry is projected to grow at a significant rate due to the growing focus on animal health and nutrition.
- Based on Application, genomics segment was predicted to show maximum market share in the year 2022.
- Based on End User, medical biotechnology segment is expected to hold significant market share by 2030.
- Based on Solution segmentation, software segment was the leading in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
AI in Bioinformatics Market- Segmentation Analysis:
The Global AI in Bioinformatics Market is segmented on the basis of Solution, Application, End User, and Region.
The market is divided into two categories based on Solution: software and services. The software segment dominates the market. Growing technology development in Ai is contributing to market growth.
The market is divided into nine categories based on Application: Genomics, Microarrays, System Biology, Text Mining, Chemoinformatic & Drug Design, Proteomics, Transcriptomics, DNA Sequencing, and Others. The genomics segment dominates the market. Increasing research & development in genomics is influencing the market growth.
The market is divided into five categories based on End User: medical biotechnology, animal biotechnology, plant biotechnology, forensic Biotechnology, and others. The medical biotechnology segment dominates the market. AI in bioinformatics is gaining traction in medical biotechnology sector, which is increasing the segment growth.
AI in Bioinformatics Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
AI in Bioinformatics Market- Competitive Landscape:
Owing to the increasing R&D investment in biotechnology solutions, which influence the AI in Bioinformatics market. Several software technology developers, including corporate websites, and applications, are used by businesses to sell their solutions. Solution providers compete on various factors, such as technology, and marketing. reputation, and availability. Some of the primary techniques, and strategies used by corporations to consolidate their reach and grow their market share include new software development, R&D expenditure, developing its distribution network and mergers & acquisitions. Some of the recent developments are mentioned below.
Recent Developments:
In June 2022, Sophia Genetics, a leader in data-driven medicine, has attained CE-IVD certification for the analytical functionality supported by its cloud-based SOPHiA DDM Platform.
Key features of the study:
- This proposed research study on AI in Bioinformatics market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the AI in Bioinformatics market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for AI in Bioinformatics market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the AI in Bioinformatics market
- Impact of COVID-19 on AI in Bioinformatics market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on AI in Bioinformatics market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the AI in Bioinformatics market, we have also included competitive landscape and key innovator analysis for the AI in Bioinformatics market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial in Solution and strategic initiatives of players operating in the AI in Bioinformatics market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global AI in Bioinformatics market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL AI IN BIOINFORMATICS MARKET KEY PLAYERS
- IBM Watson Health
- NVIDIA Corporation
- Microsoft Corporation
- Illumina, Inc.
- Amazon Web Services (AWS)
- DNAnexus
- 23andMe
- Databricks
- Sophia Genetics
- Tempus
- Atomwise
- Recursion Pharmaceuticals
- BenevolentAI
- GNS Healthcare
- Seven Bridges Genomics
GLOBAL AI IN BIOINFORMATICS MARKET, BY SOLUTION
GLOBAL AI IN BIOINFORMATICS MARKET, BY APPLICATION
- Genomics
- Microarrays
- System Biology
- Text Mining
- Chemoinformatic & Drug Design
- Proteomics
- Transcriptomics
- DNA Sequencing
- Others
GLOBAL AI IN BIOINFORMATICS MARKET, BY END USER
- Medical biotechnology
- Animal biotechnology
- Plant biotechnology
- Forensic biotechnology
- Others
GLOBAL AI IN BIOINFORMATICS MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA