May 23, 2024
AI in Omics Studies Market

The Global AI in Omics Studies Market is Transforming Omics Studies by Driving Personalized Healthcare

Omics studies refer to a field of scientific disciplines including genomics, proteomics, metabolomics and pharmacogenomics where advanced computing methods and artificial intelligence (AI) techniques are used. They help in understanding biological systems by generating large datasets to capture the molecular profiles of cells, tissues or whole organisms. AI brings tremendous potential in handling big data sets generated through various omics studies and discovering hidden patterns to help drive personalized medicine.

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.

Key Takeaways

Key players operating in the Global AI in Omics Studies are Thermo Fisher Scientific, Agilent Technologies, Illumina, BGI Genomics, Dassault Systemes, Qiagen, Waters Corporation, GE Healthcare, Amazon Web Services, Inc., Bruker, Danaher. The growing adoption of omics technologies in precision medicine has fueled the demand for AI-driven solutions that can analyze multimodal datasets and identify novel biomarkers or therapeutic targets. Several organizations are also investing in omics studies to gain clinical and strategic insights through AI to support R&D, accelerate drug discovery and enable the development of individualized treatment plans. With ongoing initiatives focused on building genomic and clinical datasets, the global AI in omics market is anticipated to grow significantly across regions over the coming years.

Market key trends

One of the key trends in the Global AI in Omics Studies Market Demand is the increasing integration of AI and machine learning algorithms with omics data to develop predictive and prescriptive models. Leveraging deep learning techniques, AI can discover patterns in large omics datasets, correlate them with clinical phenotypes and predict outcomes as well as risks of diseases. This helps researchers gain a system-level perspective of various conditions and accelerates the development of precision medicine approaches. AI also assists in image analysis, natural language processing and other data-driven applications in omics to advance targeted therapeutics development and clinical decision making.

Porter’s Analysis

Threat of new entrants: High research and capital costs create barriers for new companies.

Bargaining power of buyers: Individual buyers have low bargaining power against established players in a consolidated market.

Bargaining power of suppliers: There are few suppliers for key technologies, giving them some power in negotiating prices.

Threat of new substitutes: New technologies for data collection/analysis could provide substitutes, but current offerings are highly specialized.

Competitive rivalry: Major players compete aggressively on technology/capabilities while also pursuing strategic partnerships and acquisitions.

Geographical Regions

North America currently accounts for the largest share of the global market, driven by significant R&D investments and a large biopharmaceutical industry in the US and Canada. Increased funding for genomics initiatives and adoption of AI/ML has concentrated value in this region.

The Asia Pacific region is expected to be the fastest growing market during the forecast period due to rising healthcare investments, expanding biotech sectors in China and India, and government initiatives supporting development of precision/personalized medicine infrastructures. Initiatives like Made in China 2025 and expansion of contract research organizations are attracting multinational players, propelling future growth.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it