AI in Genomics Market Size

Artificial Intelligence in Genomics Market Future Prospects

The artificial intelligence (AI) in genomics market is valued at an estimated USD 1,930.5 million in 2024, and it is expected to advance at a CAGR of 49.5% during 2024–2030, reaching USD 21,584.0 million by 2030.

The major factors leading to the market advance include the increasing size of genomics research data sets, emergence of startups in the field, and extensive research and development (R&D) activities. Genomics research is expected to generate an astonishing amount of data, of 2 to 40 exabytes, in the next 10 years. The increasing size and complexity of DNA sequencing and other biomedical data sets have resulted in the need for AI computational tools to analyze it, to discover genetic diseases in patients. This helps in providing precision medicine treatment to them.

However, whole-genome sequencing, the advanced genetic test that allows for the study of the entire human DNA, is quite expensive, costing USD 500–1,000. Thus, getting tested is not economically feasible for all income groups. As a result, Illumina Inc. is targeting to reduce the test cost to USD 100, by incorporating advanced AI. With the lower testing cost, 50–60 million people are expected to get DNA sequencing done every year.

As of now, traditional gene panel analysis takes around two weeks; however, researchers from Stanford University, University of California, Baylor College of Medicine, Google, Oxford Nanopore Technologies, and NVIDIA have developed a method to perform DNA sequencing in 5 hours 2 minutes, using AI for the end-to-end process. This would help clinicians identify genetic clues and inform patient care plans early, as it optimizes the diagnosis pipeline in 7–10 hours.