What Is The Current and Historic Market Size Analysis Of The AI In Bioinformatics Market?
The ai in bioinformatics market has seen considerable growth due to a variety of factors.
• In recent times, the market size of AI in bioinformatics has seen a massive expansion. It is projected to escalate from $4.3 billion in 2024 to $6.18 billion in 2025, with a compound annual growth rate (CAGR) of 43.8%.
This substantial growth during the historic period can be linked to factors such as enhanced accessibility to genomic data, the emergence of precision medicine, the rising need for biomarker discovery, the optimization of clinical trials, and increased collaborations.
What are the Market Size and Expected Growth Rates for the AI In Bioinformatics Market By 2029?
The ai in bioinformatics market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are set for a surge in the size of the AI in bioinformatics market over the coming years, with predictions suggesting it will reach the $26.46 billion mark by 2029, growing at a CAGR of 43.9%.
The expected growth during the forecast period can be linked to the advancement in single-cell technologies, increased integration of multi-omics, a rising emphasis on functional genomics, fast-tracking of drug repurposing, and a growing interest in employing AI in pathology. Looking ahead, significant trends projected to emerge during this period encompass ethical AI and responsible data management, the use of AI in virtual laboratories, the inclusion of quantum computing, AI-guided clinical trials, and the use of blockchain for safe data exchange.
What Are the Critical Driver Fuelling The AI In Bioinformatics Market's Growth?
The growth of AI in the bioinformatics market is poised to gain momentum due to the rising number of clinical trials. Clinical trials, defined as meticulously organized processes of medical research that involve human subjects to measure new medical interventions, treatments, drugs, devices, or therapeutic strategies' safety, effectiveness, and efficiency. AI inside bioinformatics plays a crucial role during these trials by examining patient data obtained from electronic health records and other sources. It is used to pinpoint potential participants for the clinical trials, who fulfill specific criteria, thereby enhancing the efficiency of recruiting and targeting. To illustrate, Xtalks, a life science and medical device platform based in Canada, reported that as of May 2023, there were 452,604 registered clinical trials globally on ClinicalTrials.gov, with 64,838 of these trials actively searching for participants. Moreover, compared to the beginning of 2021, when over 365,000 trials were registered, the count of trials has seen a note-worthy rise. Consequently, the uptick in clinical trials numbers fuels the expansion of AI in the bioinformatics space.
What Are The Key Segments Within The Global AI In Bioinformatics Market?
The AI in bioinformatics market covered in this report is segmented –
1) By Type: Machine Learning, Deep Learning, Other Types
2) By Offering: Services, Software
3) By Application: Genomics, Chemoinformatics And Drug Design, Proteomics, DNA Sequencing, System Biology, Transcriptomics, Text Mining, Microarrays, Metabolomics, Other Applications
Subsegments:
1) By Machine Learning: Supervised Learning Algorithms, Unsupervised Learning Algorithms, Reinforcement Learning
2) By Deep Learning: Neural Networks, Natural Language Processing Models, Generative Adversarial Networks (GANs)
3) By Other Types: Statistical Models, Evolutionary Algorithms, Fuzzy Logic Systems
Pre-Book The AI In Bioinformatics Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are New Trends Impacting The Size Of The AI In Bioinformatics Market?
Leading firms in the AI in bioinformatics market are aiming to boost their market profitability by driving technological innovations on the Bionl.AI platform. Bionl.AI provides a comprehensive workspace for exploration, analysis, and visual representation, thus significantly reducing the time taken to perform complex tasks from several days to mere minutes. For example, in October 2023, Bionl Inc., an American entity specializing in biomedical and bioinformatics research, unveiled Bionl.AI. This groundbreaking platform intends to transform biomedical and bioinformatics research by offering researchers, students, and professionals a no-code solution to explore biomedicine through natural language inquiries. To provide instant insights and simplify complex analysis, the platform uses the most advanced GenAI models for making the process more user-friendly and interactive.
Who Are the Key Players In The AI In Bioinformatics Market?
Major companies operating in the AI in bioinformatics market report are:
• Thermo Fisher Scientific Inc.
• Eurofins Scientific SE
• Dassault Systèmes SE
• Illumina Inc.
• NeoGenomics Laboratories Inc.
• QIAGEN N.V.
• SomaLogic Operating Co. Inc.
• Seven Bridges Genomics Inc.
• Genialis Inc.
• SOPHiA GENETICS SA
• DNAnexus Inc.
• Insilico Medicine Inc.
• Deep Genomics Inc.
• Biomax Informatics Inc.
• Ardigen SA
• Strand Life Sciences Pvt. Ltd.
• Genomenon Inc.
• SourceBio International Limited
• Fios Genomics Limited
• CelbridgeScience
• BlueBee Holding BV
• JADBio
• Elucidata Corporation
• Gnosis DA
• DNASTAR Inc.
• iNDX.Ai
• Paige AI Inc.
What Are The Regional Insights Into The AI In Bioinformatics Market?
North America was the largest region in the AI in bioinformatics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI in bioinformatics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
