Global AI In Bioinformatics Market Size

Key Insights On The AI In Bioinformatics Market 2024 – Size, Driver, And Major Players

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s AI In Bioinformatics Global Market Report 2024, the AI in bioinformatics market is expected to show significant growth in the forecast period.

The AI in bioinformatics market has experienced exponential growth, driven by key factors in both historic and forecast periods:

  • Historic Growth: Market size grew from $2.97 billion in 2023 to $4.30 billion in 2024, with a CAGR of 44.5%. Factors include:
    • Increased genomic data availability
    • Rise of precision medicine
    • Demand for biomarker discovery
    • Clinical trial optimization
    • Increased collaboration
  • Forecast Growth: Expected to reach $18.35 billion by 2028, growing at a CAGR of 43.8%. Factors contributing to growth include:
    • Expansion of single-cell technologies
    • Growing emphasis on multi-omics integration
    • Rising focus on functional genomics
    • Acceleration of drug repurposing
    • Increasing adoption of AI in pathology

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Impact of Rising Clinical Trials on Market Expansion
The growth of AI in bioinformatics is significantly influenced by the increasing number of clinical trials:

  • Clinical Trials: Essential for evaluating new medical interventions and treatments.
  • Market Impact: Over 452,604 clinical trials registered globally as of May 2023, driving demand for AI in data analysis and participant recruitment efficiency.

Leading Innovators Shaping the Market
Major companies driving innovation in AI and bioinformatics include:

  • Thermo Fisher Scientific Inc.
  • Eurofins Scientific SE
  • Illumina Inc.
  • Insilico Medicine Inc.
  • Deep Genomics Inc.
  • Biomax Informatics Inc.
  • Ardigen SA
  • DNAnexus Inc.

Technological Advancements and Market Competitiveness
Innovations such as the Bionl.AI platform are revolutionizing biomedical research:

  • Bionl.AI Platform: Enables no-code exploration, analysis, and visualization of biomedical data.
  • Market Significance: Accelerates research processes and enhances accessibility for researchers and professionals.

Strategic Acquisitions Driving Market Growth
Strategic moves like Kiromic Biopharma Inc.’s acquisition of InSilico Solutions LLP enhance AI capabilities:

  • Acquisition: Strengthens expertise in AI for selecting optimal biomarkers in immunotherapeutics.
  • Market Impact: Expands AI capabilities in bioinformatics for advancing therapeutic development.

Market Segmentation
The AI in bioinformatics market is segmented by:

  1. Type: Machine Learning, Deep Learning, Other Types
  2. Offering: Services, Software
  3. Application: Genomics, Chemoinformatics and Drug Design, Proteomics, DNA Sequencing, System Biology, Transcriptomics, Text Mining, Microarrays, Metabolomics, Other Applications

Regional Insights

  • North America: Largest market in 2023, driven by technological advancements and robust healthcare infrastructure.
  • Asia-Pacific: Fastest-growing region, expected to witness substantial growth due to increasing investments in healthcare and technological adoption.

The AI in bioinformatics market is poised for exponential growth, fueled by advancements in AI technologies, rising clinical trial numbers, and expanding applications across various sectors. With innovations in machine learning and deep learning, coupled with ethical considerations and AI-driven virtual laboratories, the market is set to transform healthcare and biomedical research globally. As regions like Asia-Pacific emerge as key growth hubs, the landscape of AI in bioinformatics continues to evolve, offering new opportunities for market players and stakeholders to capitalize on the burgeoning demand for data-driven healthcare solutions.

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