The global AI in omics studies market utilizes artificial intelligence to extract meaningful insights from complex omics datasets. AI tools are leveraging techniques such as machine learning, deep learning, and predictive analytics to analyze huge volumes of genomic, proteomic, metabolomic, and other high-dimensional biological data. This is helping researchers better understand disease mechanisms, develop targeted therapeutics, and power personalized medicine approaches.
The global AI in omics studies market is estimated to be valued at US$ 639.8 Mn in 2024 and is expected to exhibit a CAGR of 32% over the forecast period 2024 to 2031.
Omics studies focus on comprehensive analyses of various biological molecules including DNA, RNA, proteins, and metabolites to better understand biological systems and disease processes. With next-generation DNA sequencing and various omics technologies generating massive amounts of multidimensional datasets, AI is playing a crucial role in handling such large and complex biological data. AI tools automate the analysis of these datasets, identify meaningful patterns and hidden insights, develop predictive models for conditions like disease subtypes and drug responses, and power clinical decision support systems. This is speeding up research and enabling researchers to gain actionable insights that would otherwise be impossible to derive manually. The AI In Omics Studies Market Demand is thus witnessing increasing adoption driven by the need for powerful data analysis capabilities.
Key Takeaways
Key players operating in the global AI in omics studies market are Thermo Fisher Scientific, Agilent Technologies, Illumina, BGI Genomics, Dassault Systèmes, Qiagen, Waters Corporation, GE Healthcare, Amazon Web Services, Inc., Bruker, Danaher.
The AI in omics studies market is witnessing growing demand due to increasing volumes of omics data from various research areas like precision medicine, systems biology, and clinical genomics. AI can help analyze such large and complex datasets to power drug discovery and clinical decision-making.
Major players are expanding their presence globally by establishing partnerships with research institutes and hospitals. Market leaders are also pursuing mergers and acquisitions to enhance their product portfolios and solutions for various omics domains like genomics, proteomics, and metabolomics.
Market Key Trends
One of the key trends driving the AI in omics studies market is the increasing focus on multi-omics and integrated omics analysis. Most diseases and conditions have multifactorial origins influenced by an individual’s genetics as well as external environmental factors. AI is playing a critical role in integrating different omics data types to develop more comprehensive models of human health and disease. This multi-omics approach is proving valuable for applications like precision oncology where a systems-level understanding is important.
Porter’s Analysis
Threat of new entrants: AI startups are entering AI for omics market with their novel technologies and solutions. However, established players have significant resources and customer base.
Bargaining power of buyers: Pharmaceutical and biotech companies have significant bargaining power being large customers for AI solutions. They can negotiate on price and demand additional features.
Bargaining power of suppliers: Few software development companies and data solution providers supply required technologies, platforms and algorithms to AI solution providers. This gives them moderate bargaining power.
Threat of new substitutes: Emerging technologies like cloud computing, edge computing pose threat of substitution. However, switching costs are involved for customers.
Competitive rivalry: Major players fiercely compete on the basis of technology, pricing and services. This forces players to continuously invest in R&D to develop differentiated solutions.
Geographical Regions
North America dominates the global AI in omics market currently in terms of value due to presence of major pharmaceutical companies, research institutes and market players.
Asia Pacific region is expected to be the fastest growing market during the forecast period owing to increasing government funding for AI and omics research, growing biotech sector and rising healthcare expenditure in countries like China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
