How Will the AI In Bioinformatics Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How has the ai in bioinformatics market size evolved in recent years?
The market size of AI in bioinformatics has been experiencing rapid expansion in the past few years. Its expected growth will range from $4.3 billion in 2024 to $6.18 billion in 2025, representing a Compound Annual Growth Rate (CAGR) of 43.8%. Factors contributing to this growth during the historical window include the proliferation of genomic data, the emergence of precision medicine, the need for biomarker discovery, optimization of clinical trials, and a rise in collaborative efforts.
What are the predictions for the ai in bioinformatics market size in the coming years?
Expectations are high for an exponential surge in the AI in bioinformatics market size within the next several years. Predictions indicate a growth to $26.46 billion by 2029, with a 43.9% compound annual growth rate (CAGR). The anticipated growth during the projected period can be traced back to the broadening of single-cell technologies, heightened focus on multi-omics integration, increasing attention on functional genomics, ramping up of drug repurposing, and a rising trend in applying AI in pathology. Leading trends projected for the period cover ethical use of AI and responsible data handling, the rise of AI-aided virtual labs, incorporation of quantum computing, AI-enhanced clinical trials, and the use of blockchain for secured data exchange.
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What key factors are fueling the growth of the ai in bioinformatics market?
The growth of AI in the bioinformatics market is anticipated to be driven by the rising number of clinical trials. Clinical trials, the meticulously designed process of conducting medical research involving humans to assess the safety, effectiveness, and efficiency of novel medical interventions, treatments, drugs, devices, or therapeutic strategies, are making use of AI in bioinformatics. The technology is utilized to scrutinize patient data from electronic health records and other sources for identifying likely participants for these trials who fulfill particular criteria, thus enhancing the efficacy of recruitment and targeting. As per a report by Xtalks, a Canadian life sciences and medical device platform, in May 2023, there were a total of 452,604 registered clinical trials worldwide on ClinicalTrials.gov, out of which, 64,838 trials were actively searching for participants. The figures indeed underscore a marked surge from the approximately 365,000 trials documented at the start of 2021. As a result, the escalating number of clinical trials is stimulating the growth of AI in the bioinformatics market.
How is the global ai in bioinformatics market divided into key segments?
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
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Who are the key firms paving the way for growth 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.
Which trends are expected to transform the ai in bioinformatics market?
Key players in the AI bioinformatics market are utilizing innovative technologies on the Bionl.AI platform to enhance their profit margins. This platform is a comprehensive workspace that simplifies exploration, analysis, and visualization, significantly reducing the time needed for complex tasks. For example, in October 2023, Bionl Inc., a US-based company specializing in biomedical and bioinformatics research, introduced Bionl.AI. This trailblazing platform is set to transform biomedical and bioinformatics research by offering a no-code solution enabling researchers, students, and professionals to examine biomedicine through natural language queries. Through the use of advanced GenAI models, the platform facilitates instant insights and simplifies complex analyses, making them both accessible and engaging.
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What regions are contributing significantly to the growth of 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.
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