AI In Genomics Market Will Increase at a High CAGR of 39.8% to Reach at $10.3 Billion by 2030

PUNE, India - July 19, 2023 - PRLog -- AI In Genomics Market Definition

AI In Genomics Market revenue is expected to attain a high CAGR of 39.8% and is projected to reach US $10.3 Billion from 2023 to 2030. In 2022, the AI in Genomics market was estimated at US $0.71 Billion.

Due to exponential growth in the size of human genomics data, it is difficult to estimate size by 2030 and beyond. This challenge can serve as a great opportunity for the supplier of AI in genomics products and services.

In the AI in genomics market, healthcare tech companies offer AI-based software, hardware, and services used for genome sequencing, gene editing, clinical workflows, predictive genetic testing, and preventive medicine. These services are subscribed to by pharmaceutical and biotech companies, healthcare providers, research centers, academic institutes and government organizations, and other end users for drug discovery and development, precision medicine, diagnostics, agriculture, and animal research, ad other applications.

Major Potential: Rapidly Growing Bioinformatics Data

The raw data generated by sequencing an individual's entire genome is approximately 100 terabytes. After the genome is sequenced using complicated techniques and applications such as deep learning and natural language processing, this more than doubles.

As the cost of sequencing a human genome continues to fall, so does the volume of sequencing data (https://blogs.nvidia.com/blog/2023/02/24/how-ai-is-transf...). By 2025, it is projected that 40 exabytes will be required to store all human genomic data. As a comparison, that's 8 times the storage required to store every word spoken in history.

Many genome analysis systems are having difficulty keeping up with the massive amounts of raw data being created. More due to the exponential growth in the size of human genomic data, it is difficult to estimate its size by 2030 and beyond. This challenge can serve as a great opportunity for the supplier of AI in genomics products and services.

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