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The production of large amounts of data is required for the application of artificial intelligence in genomics studies. The integration of artificial intelligence has been used in the discovery of cell structure and organization, the prediction of regulatory regions, and the identification of associations between genes. Drug discovery and precision medicine are areas that are impacted by the integration of artificial intelligence. Artificial intelligence is being used to convert data into actionable information.
Increasing funding for genomics studies and technological advancement in the field of artificial intelligence are driving the global artificial intelligence in genomics market. Market growth opportunities can be found in the improvement of infrastructure for artificial intelligence and genetics research in emerging economies. A challenge for the market is ambiguous regulatory guidelines for genomics software and poor security and storage of large volumes of genome sequencing data.
The artificial intelligence in genomics market can be divided into offering, delivery mode, function, application, and end user. The study looks at industry competitors and their market shares at global and regional levels.
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The software segment is expected to account for the largest share of the global artificial intelligence in genomics market in 2022. The set of programs and instructions are called software. Drug discovery, precision medicine, and diagnostics can be achieved with the help of artificial intelligence. The players in the market make more revenue from repeat purchases of their software-as-a-service, license-based, or subscription-based products. The prices of these software offerings are higher than the prices of services. The revenue generated by the software is more than the services.
The cloud & web-based segment is projected to register the highest CAGR during the forecast period. The cloud and web-based models make it easy to access and use. Researchers can securely store, process, explore, and share large genomic datasets with the help of cloud-based models.
The largest share of the global artificial intelligence in genomics market is expected to be accounted for by the genome Sequencing segment. The large market share of this segment can be attributed to the increasing adoption of Artificial Intelligence in genome sequencing studies and the growing implementation of COVID-19 related R&D. In January of 2022, a research initiative was led by scientists at the University of California, the University of Oxford, and the University of Texas. The researchers used artificial intelligence to find rare genetic diseases in an average of eight hours, using the results from a human genome.
The drug discovery and development segment is expected to account for the largest share of the global artificial intelligence in genomics market. The market is driven by rising collaboration between pharmaceutical/biopharmaceutical companies and artificial intelligence solutions provider companies.
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The pharmaceutical & biopharmaceutical companies segment is expected to account for the largest share of the global market. Drug discovery and development and precision medicine are areas in which the adoption of artificial intelligence is high. Artificial intelligence is being used to speed up the process of drug discovery. The highest revenue contributors are pharmaceutical companies.
North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa are some of the major regions in the artificial intelligence in genomics market. Europe, Asia-Pacific, Latin America, and the Middle East & Africa are expected to account for the largest share of the global market in 2022, according to the report. The presence of key players in this region and the availability of infrastructure for genomic research are some of the factors contributing to the large market share of this segment.
Microsoft Corporation, NVIDIA Corporation, Deep Genomics Incorporated, Fabric Genomics, Inc. and Data4Cure, Inc. are some of the key players in the market. (U.S.), Tempus Labs, Inc. The U.K.
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There is a scope of the report
The Artificial Intelligence in Genomics market is being offered.
Delivery mode is used in the Artificial Intelligence in Genomics market.
On-demand.
Web-based and cloud-based
The market for Artificial Intelligence in Genomics.
The genome is a type of genetic analysis.
Gene editing.
Other functionalities are included.
Predictive gene testing is one of the functionalities.
Artificial Intelligence in Genomics can be applied.
Drug discovery and innovation.
It is called precision medicine.
There arediagnostics
Other applications are included.
Other applications include agriculture and animal health.
Artificial Intelligence in Genomics is used by end users.
There are pharmaceutical andbiopharmaceutical companies.
There are academic and research establishments.
Other end users are not the only ones.
Contract research organizations and agriculture companies are included in other end users.
There is Artificial Intelligence in Genomics.
In North America.
There is Europe.
The Asia-Pacific is known as the APAC.
It is Latin America.
Africa and the Middle East.
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