The AI in genomics market value stood at $519.0 million in 2021 and it is expected to grow at a CAGR of 49.7% during 2021–2030. The major drivers contributing to the growth of the market are the increasing size of genomics research data sets, rising number of start-ups, and swelling R&D activities. Moreover, the genomics research is projected to give out an increasing amount of data of 2–40 exabytes in this decade, due to the surging need to deal with the intricacy of DNA sampling and managing other complexities.
The continuous mutation of the virus has made it tough for mankind to control the pandemic. Researchers are putting every possible effort to develop new technologies to identify the transformation of the virus. For instance, the development of new technology was announced by the University of Waterloo in 2021, made the use of AI, to forecast the likeliest mutation of the deadly virus.
Gene correction is needed for treating patients with genetic diseases. The technology developed for this is clustered regularly interspaced short palindromic repeats (CRISPR), which slice DNA to treat ailments. Its clinical trial on a human body was first demonstrated in June 2021. Due to this factor, the gene editing category is predicted to observe the fastest growth during 2021–2030.
The market has increased rapidly and continues to do so in the coming years, with the rising prevalence of diseases and infections.
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings