Artificial Intelligence in Genomics Market worth $1,671 million by 2025 - Exclusive Report by MarketsandMarkets Artificial Intelligence In Genomics Market by Offering (Software, Services),Technology (Machine Learning, Computer Vision), Functionality (Genome Sequencing, Gene Editing), Application (Diagnostics), End User (Pharma, Research) - Global Forecasts to 2025 , published by MarketsandMarkets, the global AI in Genomics market is projected to reach USD 1,671 million by 2025 from USD 202 million in 2020, at a CAGR of 52.7% between 2020 and 2025
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The need to control drug development and discovery costs and time, increasing public and private investments in AI in genomics, and the adoption of AI solutions in precision medicine are driving the growth of this market. However, the lack of a skilled AI workforce and ambiguous regulatory guidelines for medica
The need to control drug development and discovery costs and time, increasing public and private investments in AI in genomics, and the adoption of AI solutions in precision medicine are driving the growth of this market. However, the lack of a skilled AI workforce and ambiguous regulatory guidelines for medical software are expected to restrain the market growth during the forecast period.
Machine learning to dominate the AI in Genomics market in 2019
Based on technology, the Artificial Intelligence in Genomics Market is segmented into machine learning and other technologies. The machine learning segment dominated this market in 2019, as pharmaceutical companies, CROs, and biotechnology companies have widely adopted machine learning for drug genomics applications. This is because machine learning can extract insights from data sets, accelerating genomic research.