ALL >> Business >> View Article
Exploring The Power Of Artificial Intelligence In Genomics - Know The Market Growth
Artificial Intelligence In Genomics Market growing due to 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
Currently, Artificial Intelligence In Genomics Market is growing at a Compound Annual Growth Rate (CAGR) of 52.7% to reach USD 1,671 million by 2025. The growth of the Artificial Intelligence in the Genomics market is mainly driven by the rising demand for personalized medicine, increasing investments in healthcare and genomics research, and the growing need for reducing healthcare costs. Additionally, the increasing adoption of cloud computing and the increasing use of AI-based approaches to analyze genomic data are also driving the market growth.
Request for assumptions & how numbers were triangulated.
https://www.marketsandmarkets.com/requestsampleNew.asp?id=36649899
...
... br />Growth Drivers
Need to control the time and costs of drug development and discovery
Increasing investments in AI in genomics
Rising adoption of AI in precision medicine
Growing genomic datasets
Growth Opportunities
Focus on developing human-aware AI systems
Challenges
Lack of curated genomic data
Data privacy concerns
Restraints
Lack of skilled AI workforce and ambiguous regulatory guidelinesFor medical software Healthcare Fraud
The prominent players operating in the Artificial Intelligence In Genomics Market are
IBM (US), Microsoft (US), NVIDIA Corporation (US), Deep Genomics (Canada), BenevolentAI (UK), Fabric Genomics Inc. (US), Verge Genomics (US), Freenome Holdings, Inc. (US), MolecularMatch Inc. (US)
IBM (US)
IBM is one of the leading players in the AI in genomics market. The company provides IBM Watson, an AI platform, through its Cognitive Solutions segment. Watson is used by pharmaceutical companies and biotech & academic institutions to support new drug target identification and drug repurposing. IBM focuses on organic and inorganic growth strategies to improve its position in the AI in drug discovery and other emerging AI markets. Besides, partnerships and collaborations with AI solution providers/consumers remain an important aspect of its strategy to enhance its footprint in this market.
NVIDIA (US)
NVIDIA is among the world leaders in the visual computing business. It has a well-established geographic footprint and deals with major OEMs/ODMs. The company continues to lead in the development of new products for AI. The company has significantly increased its R&D spending and aims to improve its gaming, machine learning, and other AI training algorithms. Furthermore, the company adopts different growth strategies, such as product launches, expansions, and partnerships, to maintain its leading position in the market. For instance, in September 2018, NVIDIA launched the NVIDIA Clara platform.
Download an Illustrative Overview:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=36649899
North America is the largest regional market
The large share of North America can be attributed to the increasing research funding and government initiatives for promoting precision medicine in the US.
Recent Developments
In February 2020, IBM Watson Health signed partnership with Broad Institute of MIT and Harvard (US). An extended partnership will allow the Broad Institute to analyze and explore genomics data to understand intrinsic susceptibility.
In October 2020, NVIDIA announced a partnership with global healthcare company GSK and its AI group. GSK’s new hub in London is expected to support its UK based team and scientists from NVIDIA to enhance drug and vaccine discovery using NVIDIA platforms.
An innovative professional with 6+ years of progressive experience within the Healthcare industry. with the skills to drive business growth, capitalize on new revenue potential, and manage all aspects of daily internet / eCommerce operations.
Add Comment
Business Articles
1. How Global Trade Finance Facilitates Cross-border Transactions And Reduces RiskAuthor: Riddhi Divan
2. Innovative Uses Of Nickel In Cryogenic And Marine Environments
Author: Online fittings
3. Implementing Predictive Analytics In Your Abm Toolkit
Author: SalesMark Global
4. Comparing The Top 5 Live Commerce Platforms For 2024
Author: Amy Williams
5. Data-driven Precision Marketing For Effective Demand Generation
Author: SalesMark Global
6. Supercharge Your Sales With Optimized Pipeline Velocity
Author: SalesMark Global
7. Best Japan Tour Packages
Author: bharathi
8. Adani Group Stocks Down 20%; Gautam Adani Indicted In Us Over Bribery Charges
Author: Bizzbuzz
9. High-performance Ss Round Bars: Addressing The Energy Sector's Needs
Author: Neelkamal Alloys LLP
10. The Role Of Modern Washroom Solutions In Maintaining Cleanliness
Author: ritika krishna
11. Why Choose Premium Taxi Services In Kochi?
Author: maya
12. Black Magic Astrologer In Kasaragod
Author: Sripandith05
13. The Health Benefits Of Adding Pineapple To Your Pancakes
Author: maya
14. Top Luxury Resorts In Kerala For Your Dream Vacation
Author: maya
15. How To Start Your Shopping Website In Doha: A Simple Guide
Author: maya