Global Artificial Intelligence in Genomics Market: Overview
Solutions from the global artificial intelligence in genomics market are widely used in precision medicine as well as drug discovery branches of the healthcare and pharmaceutical industries. These solutions use various technologies, such as computer vision as well as machine learning. They can also be used for diagnostics purposes in the healthcare industry. The solutions offered by the players in global artificial intelligence in genomics market, both services as well as software, are used to automate or intelligently manage tedious and time consuming tasks in drug discovery processes.
The market analysis study on the global artificial intelligence in genomics market offers a closer look at the key brand positioning strategies of foremost industry players, volumes of goods produced as well as investments made in recent tactical moves, and the various emerging opportunities in major areas of the application of leading products and services. The research report on the global artificial intelligence in genomics market takes a closer look at the various end-users, different industry segments, and the technological enhancements in production and manufacturing industries. In addition, the analysts offer detailed data points on the growth prospects of various segments and regional segments.
Global Artificial Intelligence in Genomics Market: Factors Likely to Augment Sales
Rising adoption of artificial intelligence technologically enabled solutions in the emerging field of precision medicine, along with rising private as well as public investments in the field of AI in genomics are anticipated to effectively stimulate high growth opportunities in the global artificial intelligence in genomics market over the forecast period i.e. 2021 to 2031. Furthermore, the rising requirement for controlling costs as well as time required for drug and vaccine discovery processes is also propelling the demand in the global artificial intelligence in genomics market. However, dearth of skilled workforce specializing in AI technologies as well as vague and stringent regulations and guidelines pertaining to the development and application of medical software tools and platforms may restrain the global artificial intelligence in genomics market in coming years.
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Global Artificial Intelligence in Genomics Market: Regional Assessment
Regionally, North America is anticipated to lead the global artificial intelligence in genomics market in terms of market share, as it did in 2019. This projected trend can be attributed to rising funding as well as government initiatives aimed at boosting the research activities in the industry. Furthermore, government initiatives and investments aimed at promoting the precision medicine practices in the United States is also expected to foster the development trajectory of the North America artificial intelligence in genomics market over the forecast period.
Global Artificial Intelligence in Genomics Market: Key Players and Manufacturers
Leading players in the global artificial intelligence in genomics market include IBM, NVIDIA Corporation, Benevolent AI, Verge Genomics, MolecularMatch, Inc., SOPHiA GENETICS, PrecisionLife Ltd., Lifebit, FDNA, Inc., Empiric Logic, Microsoft, Deep Genomics, Fabric Genomics Inc., Freenome Holdings, Inc., Cambridge Cancer Genomics, Data4Cure Inc., Engine Biosciences Pte. Ltd., Genoox Ltd., Diploid, and DNAnexus Inc. Players and leading participants in the global artificial intelligence in genomics market are focusing on mergers and acquisitions as well as strategic partnerships and collaborations along with new product launches to enhanced their product portfolio as well as expand their consumer base in the industry. For example, NVIDIA Corporation, in October of 2020, announced a partnership with the major player in the global healthcare industry called ‘GSK’. This partnership was done with the AI group of GSK and used to support their team in the United Kingdom to enhance their vaccine and drug discovery processes by using platform offered by NVIDIA.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.