AI In Bioinformatics Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 1, 2024 /EINPresswire.com/ — The AI in bioinformatics market has experienced robust growth in recent years, expanding from $2.97 billion in 2023 to $4.30 billion in 2024 at a compound annual growth rate (CAGR) of 44.5%. The growth in the historic period can be attributed to increased genomic data availability, rise of precision medicine, demand for biomarker discovery, clinical trial optimization, and increased collaboration.

Strong Future Growth Anticipated
The AI in bioinformatics market is projected to continue its strong growth, reaching $18.35 billion in 2028 at a compound annual growth rate (CAGR) of 43.8%. The growth in the forecast period can be attributed to 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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Growth driver of the AI in bioinformatics market
The increasing number of clinical trials is expected to propel the growth of AI in the bioinformatics market going forward. Clinical trials refer to a systematic and carefully designed process of conducting medical research involving human participants to evaluate the safety, efficacy, and effectiveness of new medical interventions, treatments, drugs, devices, or therapeutic strategies. AI in bioinformatics is used in clinical trials to analyze patient data from electronic health records and other sources to identify potential candidates for clinical trials who meet specific criteria, improving recruitment efficiency and targeting.

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Major Players and Market Trends
Key players in the AI in bioinformatics market include 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.
Major companies operating in the AI in bioinformatics market are innovating technological advancements on the Bionl.AI platform to increase their profitability in the market. Bionl.AI offers an all-in-one workspace for exploration, analysis, and visualization, cutting down the time required to complete complicated tasks from days to minutes.

Segments:
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

Geographical Insights: North America Leading the Market
North America was the largest region in the AI in bioinformatics market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of AI in bioinformatics.

AI In Bioinformatics Market Definition
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.

AI In Bioinformatics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The AI In Bioinformatics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on AI in bioinformatics market size, AI in bioinformatics market drivers and trends, AI in bioinformatics market major players, competitors’ revenues, market positioning, and market growth across geographies. The AI in bioinformatics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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