all report title image
  • Published On : Dec 2021
  • Code : CMI4824
  • Industry : Healthcare IT
  • Pages : 156
  • Formats :

Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. A digital genome is a complete digital set of genetic material that transpires in a cell or an organism. It is an easier way to gather data concerning chronic diseases and practiced by experts to get a closer look at genetic complications. Artificial intelligence in digital genome focuses on the use of artificial intelligence (AI) in the development of computer systems that can perform tasks such as mapping genomes.

The global artificial intelligence in digital genome market is estimated to be valued at US$ 269.8 million in 2021 and is expected to exhibit a CAGR of 44.8% during the forecast period (2021-2028).

Figure 1. Global Artificial Intelligence in Digital Genome Market Share (%) in Terms of Value, By Technology, 2021

Artificial Intelligence in Digital Genome  | Coherent Market Insights

Rise in need to control discovery cost & time during new drug development is expected to drive the market growth during the forecast period.

Rise in need to control discovery cost & time during new drug development is expected to drive the global artificial intelligence in digital genome market growth over the forecast period. Drug development is a lengthy, complex, and costly process owing to which there is a need for alternative tools in discovering new drugs. Drug discovery and development is commonly conducted through in vivo and in vitro methods, which are very costly and time-consuming. Artificial intelligence increasing roles in drug discovery, potentially saving significant time and money. Thus, this is expected to drive the growth of the market over forecast period.

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Artificial Intelligence in Digital Genome Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 269.8 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 44.8% 2028 Value Projection: US$ 3,601.7 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Offering: Software, Services
  • By Technology: Machine Learning, Computer Vision
  • By Functionality: Genome Sequencing, Gene Editing
  • By Application: Diagnostics, Drug Discovery & Development, Precision Medicine, Agriculture & Animal Research, Other Applications
  • By End User: Pharmaceutical & Biotech Companies, Research Bodies
Companies covered:

NVIDIA Corporation, IBM, Microsoft, Fabric Genomics Inc., Verge Genomics, MolecularMatch Inc., SOPHiA GENETICS, PrecisionLife Ltd, BenevolentAI, and Deep Genomics

Growth Drivers:
  • Rise in need to control discovery cost & time during new drug development
  • Increase in investments in AI in genomics
  • Adoption of AI solutions in precision medicine
Restraints & Challenges:
  • Lack of a skilled AI workforce and ambiguous regulatory guidelines for medical software

Figure 2. Global Artificial Intelligence in Digital Genome Market Share (%), By End User, 2021

Artificial Intelligence in Digital Genome  | Coherent Market Insights

Increase in investments in Artificial Intelligence in genomics are expected to drive the market growth during the forecast period.

Increase in investments in artificial intelligence in genomics is expected to drive the global artificial intelligence in digital genome market growth during the forecast period. For instance, in July 2021, Deep Genomics, a leading artificial intelligence (AI) therapeutics company, had raised US$ 180 Million funding in Series C financing round to expand its artificial intelligence (AI) discovery platform for ‘Programmable’ RNA therapeutics and scale its portfolio into the clinic. The financing round is led by SoftBank Vision Fund 2, is a venture capital fund founded in 2017 with other new investors including Canadian Pension Plan Investment Board (CPP Investments), Alexandria Venture Investments, Khosla Ventures, Fidelity Management & Research Company, Amplitude Ventures, Magnetic Ventures, and True Ventures.

Global Artificial Intelligence in Digital Genome Market– Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as a pandemic on March 11, 2020. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 234,809,103 new cases and 4,800,375 deaths were reported as of October 4, 2021, across the globe. COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another. One of the biggest challenges is supplying the raw materials required to manufacture drugs due to irregularities in the transportation system. Additionally, due to the increasing number of patients suffering from COVID-19 and other life-threatening illnesses, product distributors are seeing erratic demand for products from retailers. Additionally, COVID-19 has resulted in exponential growth for the medical device manufacturing industry as sales for devices have exploded medical devices used to diagnose or treat COVID-19 include diagnostic tests, masks, gowns, gloves, sterilizers, and ventilators.

Global Artificial Intelligence in Digital Genome Market: Restraint

The major factors that hinder growth of the global artificial intelligence in digital genome market include lack of a skilled AI workforce and ambiguous regulatory guidelines for medical software. Artificial Intelligence (AI) is a complex system companies require a workforce with skill sets to develop, manage, and implement AI systems. For instance, personnel dealing with AI systems should be aware of cognitive computing, machine learning and machine intelligence, deep learning, and image recognition. Integrating AI solutions into existing systems is also a challenging task requiring extensive data processing to replicate human brain behavior. Even a minor error can result in system failure or adversely affect the desired result.

Key Players

NVIDIA Corporation, IBM, Microsoft, Fabric Genomics Inc., Verge Genomics, MolecularMatch Inc., SOPHiA GENETICS, PrecisionLife Ltd, BenevolentAI, and Deep Genomics

Digital genome is a comprehensive digital set of genetic material that occurs in a cell or an organism. It is a simpler way to gather information concerning chronic diseases and utilized by experts to get a nearer look of genetic disorders. A digital genome acts as a supporter that facilitates instant access to trait sequences to resolve unending custom queries. In genomics artificial intelligence focuses on the use of artificial intelligence (AI) in the development of computer systems that can perform tasks such as mapping genomes. Artificial intelligence and machine learning methods are currently been used to overcome various problems faced by genomics such as annotating genomic sequence elements, identifying splice sites, promoters, enhancers, and positioned nucleosomes.

Market Dynamics

Factors such as key players in the market are focusing on growth strategies such as development in AI tools and collaborations which is expected to drive the growth of the global artificial intelligence in digital genome market over forecast period. For instance, in May 2020, NVIDIA, a U.S. based multinational technology company, had developed new artificial intelligence and genomic sequencing capabilities to help researchers track and treat COVID-19. Moreover, in September 2019, Novartis, an American Swiss multinational pharmaceutical corporation and Microsoft, a U.S. based multinational technology corporation, announced a multiyear alliance which will leverage data & artificial intelligence (AI) to transform how medicines are discovered, developed, and commercialized.

Key features of the study:

  • This report provides in-depth analysis of the global artificial intelligence in digital genome market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global artificial intelligence in digital genome market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include  NVIDIA Corporation, IBM, Microsoft, Fabric Genomics Inc., Verge Genomics, MolecularMatch Inc., SOPHiA GENETICS, PrecisionLife Ltd, BenevolentAI, and Deep Genomics from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global artificial intelligence in digital genome market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global artificial intelligence in digital genome market

Detailed Segmentation:

  • Global Artificial Intelligence in Digital Genome Market, By Offering:
    • Software
    • Services
  • Global Artificial Intelligence in Digital Genome Market, By Technology:
    • Machine Learning
    • Computer Vision
  • Global Artificial Intelligence in Digital Genome Market, By Functionality:
    • Genome Sequencing
    • Gene Editing
  • Global Artificial Intelligence in Digital Genome Market, By Application:
    • Diagnostics
    • Drug Discovery & Development
    • Precision Medicine
    • Agriculture & Animal Research
    • Other Applications
  • Global Artificial Intelligence in Digital Genome Market, By End User:
    • Pharmaceutical & Biotech Companies
    • Research Bodies
  • Global Artificial Intelligence in Digital Genome Market, By Region:
    • North America
      • By Offering
        • Software
        • Services
      •  By Technology
        • Machine Learning
        • Computer Vision
      • By Functionality
        • Genome Sequencing
        • Gene Editing
      • By Application
        • Diagnostics
        • Drug Discovery & Development
        • Precision Medicine
        • Agriculture & Animal Research
        • Other Applications
      • By End User
        • Pharmaceutical & Biotech Companies
        • Research Bodies
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Offering
        • Software
        • Services
      •  By Technology
        • Machine Learning
        • Computer Vision
      • By Functionality
        • Genome Sequencing
        • Gene Editing
      • By Application
        • Diagnostics
        • Drug Discovery & Development
        • Precision Medicine
        • Agriculture & Animal Research
        • Other Applications
      • By End User
        • Pharmaceutical & Biotech Companies
        • Research Bodies
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Offering
        • Software
        • Services
      •  By Technology
        • Machine Learning
        • Computer Vision
      • By Functionality
        • Genome Sequencing
        • Gene Editing
      • By Application
        • Diagnostics
        • Drug Discovery & Development
        • Precision Medicine
        • Agriculture & Animal Research
        • Other Applications
      • By End User
        • Pharmaceutical & Biotech Companies
        • Research Bodies
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Offering
        • Software
        • Services
      •  By Technology
        • Machine Learning
        • Computer Vision
      • By Functionality
        • Genome Sequencing
        • Gene Editing
      • By Application
        • Diagnostics
        • Drug Discovery & Development
        • Precision Medicine
        • Agriculture & Animal Research
        • Other Applications
      • By End User
        • Pharmaceutical & Biotech Companies
        • Research Bodies
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Offering
        • Software
        • Services
      •  By Technology
        • Machine Learning
        • Computer Vision
      • By Functionality
        • Genome Sequencing
        • Gene Editing
      • By Application
        • Diagnostics
        • Drug Discovery & Development
        • Precision Medicine
        • Agriculture & Animal Research
        • Other Applications
      • By End User
        • Pharmaceutical & Biotech Companies
        • Research Bodies
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Offering
        • Software
        • Services
      •  By Technology
        • Machine Learning
        • Computer Vision
      • By Functionality
        • Genome Sequencing
        • Gene Editing
      • By Application
        • Diagnostics
        • Drug Discovery & Development
        • Precision Medicine
        • Agriculture & Animal Research
        • Other Applications
      • By End User
        • Pharmaceutical & Biotech Companies
        • Research Bodies
      • By Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • NVIDIA Corporation*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • IBM
    • Microsoft
    • Fabric Genomics Inc.
    • Verge Genomics
    • MolecularMatch Inc.
    • SOPHiA GENETICS 
    • PrecisionLife Ltd
    • BenevolentAI
    • Deep Genomics

 “*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global artificial intelligence in digital genome market size is estimated to be valued at US$ 269.8 million in 2021 and is expected to exhibit a CAGR of 44.8% between 2021 and 2028
Factors such as increase in the need to control discovery cost & time during new drug development, increase in investments in AI in genomics and adoption of AI solutions in precision medicine are expected to drive the market growth during the forecast period.
Machine learning segment is expected to hold a major market share during the forecast period.
The major factors hampering growth of the market include lack of a skilled AI workforce and ambiguous regulatory guidelines for medical software.
Major players operating in the market include NVIDIA Corporation, IBM, Microsoft, Fabric Genomics Inc., Verge Genomics, MolecularMatch Inc., SOPHiA GENETICS, PrecisionLife Ltd, BenevolentAI, and Deep Genomics

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