How Will the AI In Bioinformatics Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How Will the AI In Bioinformatics Market Grow Over the Forecast Period Based on Its Expected CAGR?
The market size for AI in bioinformatics has seen a significant increase over the recent years. It is projected to expand from $4.3 billion in 2024 to a sizeable $6.18 billion in 2025, representing a compound annual growth rate (CAGR) of 43.8%. This substantial expansion during the historical period can be accredited to factors like improved availability of genomic data, emergence of precision medicine, the need for biomarker discovery, optimization in clinical trials and enhanced collaborations.
Anticipated to see robust growth in the upcoming years, the AI in bioinformatics market is predicted to expand significantly, reaching $26.46 billion in 2029 with a compound annual growth rate (CAGR) of 43.9%. The surge during the forecast period is largely due to the broader incorporation of single-cell technologies, increased focus on the integration of multi-omics, heightened interest in functional genomics, fast pacing of drug repurposing, and the growing use of AI in pathology. Key trends in this forecast period encompass ethical AI and responsible usage of data, AI-propelled virtual laboratories, incorporation of quantum computing, AI fuelled clinical trials, and utilization of blockchain for guaranteed secure data exchange.
What Strategic Factors Are Influencing the Accelerated Growth of the ai in bioinformatics Market?
Growth in the bioinformatics market, specifically in regard to AI, is anticipated to be fueled by the escalating amount of clinical trials. Clinical trials are a meticulously structured procedure of conducting medical research with human participants, with an aim of assessing the safety and effectiveness of new medical interventions, treatments, drugs, devices, or therapeutic strategies. The role of AI in bioinformatics within these trials is to analyze patient data, sourced from electronic health records and other platforms, in order to identify suitable candidates for clinical trials, thereby enhancing recruitment efficacy and precision. For instance, a report by Xtalks, a life science and medical device platform based in Canada, revealed that as of May 2023, of the 452,604 clinical trials registered worldwide on ClinicalTrials.gov, 64,838 are actively in search of participants. It’s worthy of noting that, there’s been a significant surge in the number of registered trials since the beginning of 2021 where the total was over 365,000. Consequently, the rise in clinical trials is propelling the growth of AI in the bioinformatics market.
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Who Are the Dominant Players Expanding Their Reach in the AI In Bioinformatics Market?
Major companies operating in the AI in bioinformatics market report are:
• Thermo Fisher Scientific Inc._x000D_
• Eurofins Scientific SE_x000D_
• Dassault Systèmes SE_x000D_
• Illumina Inc._x000D_
• NeoGenomics Laboratories Inc._x000D_
What Are the Top Trends Shaping the Evolution of the AI In Bioinformatics Market?
Key players in the AI in bioinformatics market are utilizing advanced technology with the Bionl.AI platform to boost their profitability. Bionl.AI functions as a comprehensive workspace for exploration, analysis, and visualization, notably reducing the time taken to finish intricate tasks from days to mere minutes. For example, in October 2023, Bionl Inc., an American company focused on biomedical and bioinformatics research, introduced Bionl.AI. This ground-breaking platform seeks to transform biomedical and bioinformatics research, offering a user-friendly solution for researchers, students, and professionals to delve into biomedicine via natural language queries. The highly sophisticated GenAI models employed by this platform facilitate immediate insights and simplify complex analysis, making it interactive and manageable.
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Which Key Segments of the AI In Bioinformatics Market Are Poised for Growth and Innovation?
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
Which Regions Are Setting the Pace for AI In Bioinformatics Market Growth?
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.
What Defines the Scope of the AI In Bioinformatics Market?
AI in Bioinformatics refers to the application of artificial intelligence (AI) techniques and algorithms to analyze and interpret biological data. Bioinformatics involves the management and analysis of large and complex biological datasets, such as genomic sequences, protein structures, and other biological information.
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