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The Global Artificial Intelligence in Bioinformatic Market was valued at USD 7284 Million in 2023 and is expected to reach USD 38284 Million by 2029, growing at a CAGR of 31.86% during 2023-2029.
Definition:
The term "Artificial Intelligence (AI) in Bioinformatics" refers to the application of AI techniques and technologies to the field of bioinformatics. Bioinformatics is an interdisciplinary field that combines biology, computer science, and statistics to analyze and interpret biological data, such as DNA sequences, protein structures, and gene expression profiles. AI, on the other hand, involves the creation of intelligent systems that can perform tasks that typically require human intelligence, such as reasoning, learning, problem-solving, and decision-making.
Market Trends:
• AI is being used to integrate data from various omics disciplines such as genomics, proteomics, metabolomics, and transcriptomics. This enables a more comprehensive understanding of biological systems and disease mechanisms.
• As AI models become more complex, there is a growing need for explainable AI in bioinformatics. Interpretability is crucial for gaining insights into how AI-driven decisions are made, especially in critical medical and research contexts.
Market Drivers:
• The exponential growth of biological data, fueled by advancements in technologies like next-generation sequencing, creates a need for AI-driven tools to manage and analyze this data effectively.
• Increasing computational power allows for the training of more complex AI models, enabling more accurate predictions and analyses.
• With the increasing demand for personalized medicine and more efficient drug development, there's a strong drive to adopt AI to address these challenges.
Market Opportunities:
• The vast amount of biological data generated presents opportunities for AI to mine and integrate this data to extract meaningful insights and drive new discoveries.
• AI can aid in identifying biomarkers associated with diseases, allowing for early detection, diagnosis, and monitoring of various conditions.
• AI can be used to identify existing drugs that could potentially be repurposed for new therapeutic uses, saving time and resources in drug development.
Market Challenges:
• Ensuring the quality and standardization of biological data is essential for accurate AI-driven analysis. Variability in data sources and formats can pose challenges.
• Complex AI models can be difficult to interpret, which is a concern in medical and research contexts where transparent decision-making is crucial.
• Handling sensitive patient data raises ethical and privacy concerns, necessitating careful data management and compliance with regulations.
Target Audience:
• New Entrants/Investors
• Analysts and Strategic Business Planners
• Venture and Capitalist
• Government Research Organizations
• Private Research Organization
• Government Bodies
• End-Users
• Others
2023E-2030 Global Artificial Intelligence in Bioinformatic Market Competitive Analysis
Know your current market situation! Not just new products but ongoing products are also essential to analyse due to ever-changing market dynamics. The study allows marketers to understand consumer trends and segment analysis where they can face a rapid market share drop. Figure out who really the competition is in the marketplace, get to know market share analysis, market position, % Market Share, and segmented revenue.
Players Included in Research Coverage: ADBio & Gnosis Data Analysis (United Kingdom), Fios Genomics (United Kingdom), SOPHiA GENETICS (Switzerland), Biomax Informatics Inc. (Germany), DNASTAR (United States), Ardigen (Poland), Source BioScience (United Kingdom), QIAGEN (Netherlands), NeoGenomics Laboratories (United States), CelbridgeScience (Ireland), Eurofins Scientific (Luxembourg), Illumina, Inc. (United States), Thermo Fisher Scientific, Inc. (United States), Insilico Medicine (United States), Strand Life Sciences (India)
Additionally, Past 2023E-2030 Global Artificial Intelligence in Bioinformatic Market data breakdown, Market Entropy to understand development activity and Patent Analysis*, Competitors Swot Analysis, Product Specifications, and Peer Group Analysis including financial metrics are covered.
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Segmentation and Targeting
Essential demographic, geographic, psychographic, and behavioural information about business segments in the 2023E-2030 Artificial Intelligence in Bioinformatic market is targeted to aid in determining the features the company should encompass in order to fit into the business's requirements. For the Consumer-based market - the study is also classified with Market Maker information in order to understand better who the clients are, their buying behaviour, and patterns.
2023E-2030 Artificial Intelligence in Bioinformatic Product Types In-Depth: Machine Learning, Deep Learning, Others
2023E-2030 Artificial Intelligence in Bioinformatic Major Applications/End users: Genomics, Chemoinformatics & Drug Design, Proteomics, DNA Sequencing, System Biology, Transcriptomics, Text Mining, Others
2023E-2030 Artificial Intelligence in Bioinformatic Major Geographical First Level Segmentation:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
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Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
- To analyse the with respect to individual future prospects, growth trends and their involvement to the total market.
- To analyse reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.
FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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