North America AI Bioinformatics Market, By Offering (Services, Software, and Others), Type (Machine Learning, Deep Learning, and Others), Product and Services (Bioinformatics Services, Bioinformatics Platforms, and Knowledge Management Tools), Application (Genomics, Chemoinformatics & Drug Design, Proteomics, DNA Sequencing, System Biology, Transcriptomics, Text Mining, Microarrays, Metabolomics, and Others), Sector (Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology, and Others) - Industry Trends and Forecast to 2029.
North America AI in Bioinformatics Market Analysis and Size
Reducing the genetic sequencing cost has enhanced the market's demand. The rising healthcare expenditure for better health services also contributes to the market's growth. The major market players focus on various service launches and approvals during this crucial period. In addition, the growing demand for bioinformatics and increasing public-private sector funding for bioinformatics are also contributing to the rising demand for the market.
The North America AI in bioinformatics market is growing in the forecast year due to the rise in market players and the availability of advanced services. Along with this, manufacturers are engaged in R&D activity for launching novel services in the market. The increasing advancements in bioinformatics technology are further boosting market growth. However, the high cost of instrumentations and cybersecurity concerns in bioinformatics might hamper the growth of North America AI in bioinformatics market in the forecast period.
The increasing technical progress and modernization, and strategic initiatives by market players, are giving market opportunities. However, the lack of skilled professionals to perform AI-based bioinformatics technology and challenges in implementing bioinformatics technology in clinical labs are key challenges to the market growth.
Data Bridge Market Research analyses that the North America AI in bioinformatics market is expected to reach a value of USD 19,677.40 million by 2030, at a CAGR of 45.2% during the forecast period. The North America AI in bioinformatics market report also comprehensively covers pricing analysis, patent analysis, and technological advancements.
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2019-2014)
|
|
Quantitative Units
|
Revenue in Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Offering (Services, Software, and Others), Type (Machine Learning, Deep Learning, and Others), Product and Services (Bioinformatics Services, Bioinformatics Platforms, and Knowledge Management Tools), Application (Genomics, Chemoinformatics & Drug Design, Proteomics, DNA Sequencing, System Biology, Transcriptomics, Text Mining, Microarrays, Metabolomics, and Others), Sector (Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology, and Others)
|
|
Countries Covered
|
U.S., Canada, and Mexico
|
|
Market Players Covered
|
JADBio & Gnosis Data Analysis, SOPHiA GENETICS, Biomax Informatics AG, DNASTAR, Ardigen, QIAGEN, Source BioScience., NeoGenomics Laboratories, Eurofins Scientific, Illumina, Inc., Thermo Fisher Scientific Inc., CelbridgeScience., Dassault Systemes, Fios Genomics, Insilico Medicine, Strand Life Sciences, Paige AI, Inc., SomaLogic Operating Co., Inc., and iNDX. Ai. Elucidata.
|
Market Definition
The North America AI in bioinformatics market refers to the sector within the North American region where artificial intelligence (AI) technologies are applied in the field of bioinformatics. Bioinformatics involves the use of computational methods and techniques to analyze and interpret biological data, such as genomic sequences, protein structures, and large-scale biological experiments.
Bioinformatics combines computer programming, big data, and molecular biology, which enables scientists to understand and identify patterns in biological data. It is particularly useful in studying genomes and DNA sequencing, as it allows scientists to organize large amounts of data.
There are scores of branches of biology to specialize in, from genetics, toxicology, mycology, and radiobiology. And out of the many, bioinformatics is one of the intriguing fields that enables identifying, evaluating, storing, and retrieving biological information. Being an interdisciplinary field of study, it incorporates various applications of Computer Science, Statistics, and Biology to develop software applications for understanding biological data such as DNA sequencing, protein analysis, evolutionary genetics, and others.
North America AI in Bioinformatics Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Reduction in the Genetic Sequencing Cost
The strong demand for decreasing the cost of genomics and biomarker prediction has contributed to the creation of high-throughput genome sequencing, which often goes by next-generation sequencing (NGS). Thousands or millions of sequences in a single bioinformatics cycle are generated simultaneously. Dramatic upgrades to industrial NGS technologies have resulted in dramatic cutbacks in cost-per-base DNA sequencing. Thus, the main sequencing techniques have recently become the key research subject, with sample design optimization taking a secondary function.
With its parallel capacity to handle hundreds of millions of DNA templates, next-generation sequencing has greatly improved sequencing efficiency and reduced sequencing costs. Moreover, the cost of bioinformatics has decreased dramatically since the completion of the Human Genome Project, outpacing Moore's Law. Illumina has helped reduce the cost of bioinformatics instrumentation through continuous innovation, allowing the USD 1000 human genome.
- Growing Demand for Bioinformatics
As genomics-focused pharmacology continues to play a greater role in treating various chronic diseases, especially cancer, next-generation sequencing (NGS) is evolving as a powerful tool for providing a deeper and more precise insight into the molecular underpinnings of individual tumors and specific receptors. Informatics is essential in biological research involving biologists who learn programming, computer programmers, mathematicians, or database managers who learn the foundations of biology.
NGS offers advantages in accuracy, sensitivity, and speed compared to traditional methods that have the potential to make a significant impact on the field of oncology. Because NGS can assess multiple genes in a single assay, the need to order multiple tests to identify the causative mutation is eliminated. AI in bioinformatics is important for data management in modern biology and medicine.
The increasing use of bioinformatics is driven by the explosion of biological data, the need for data integration and analysis, its applications in drug discovery and personalized medicine, its contribution to understanding complex biological systems, and its role in evolutionary biology and phylogenetic. Bioinformatics plays a significant role in advancing biological research, improving healthcare, and addressing various challenges in the life sciences.
Opportunity
- Rise in Healthcare Expenditure
The rise in healthcare expenditure by governments has been observed in many countries around the world. Healthcare expenditure has increased worldwide as people's disposable income in various countries increases. Moreover, to accomplish the population requirements, government bodies, and healthcare organizations are taking the initiative by accelerating healthcare expenditure. As populations age, there is an increased demand for healthcare services, including chronic disease management, long-term care, and end-of-life care. The elderly population tends to require more healthcare resources and services, leading to higher healthcare expenditures. There are some instances where many government organizations improved the solid funding for healthcare which boosted the healthcare market and it made a significant opportunity for North America AI in bioinformatics market.
Restraint/Challenge
- Cybersecurity Concerns in Bioinformatics
Bioinformatics datasets contain sensitive information, including genomic data, personal health information, and research data. If unauthorized individuals gain access to this data through breaches in cybersecurity defences, it can lead to privacy violations, identity theft, or misuse of the data.
However, the increasing computerization of DNA technology and biotechnology, more generally, raises new bio-cyber security concerns. Vulnerabilities typically associated with traditional computer systems – such as the processing of untrusted input, side-channel leaks, poor authentication, falsified data, and vulnerabilities in cyber-physical systems -- now exist in biotechnology. The emerging bio-cyber security threats have threatened the DNA-information systems in bioinformatics.
Post-COVID-19 Impact on North America AI in Bioinformatics Market
The AI in bioinformatics industry noted a decrease in demand due to the lockdown and COVID-19. Governmental laws, as manufacturing facilities and services were closed. COVID-19 created a major impact on various industries as almost every country has opted for the shutdown of every facility except the ones dealing in the essential goods segment. The government has taken some strict actions such as the shutdown of facilities and sale of non-essential goods, blocked international trade, and many more to prevent the spread of COVID-19. This boosted the North America AI in bioinformatics market, as the consumers were availing insurance to avoid huge capital payments at hospitals just in case of medical needs. Hence, COVID-19 impacted positively North America AI in the bioinformatics market.
Recent Developments
- In September 2022, Elucidata, a TechBio company, successfully raised USD 16 million in a Series A fundraising round. The funding was led by Eight Roads Ventures. The company plans to utilize the newly acquired capital to enhance product capabilities in translational drug research and related markets. Additionally, the funds will support the expansion of go-to-market initiatives and enable the company to grow its operations globally.
- In January 2022, Shanghai Fosun Pharmaceutical (Group) Co., Ltd, a leading innovation-driven international healthcare group in China, and Insilico Medicine, an end-to-end artificial intelligence (AI)-driven drug discovery and Development Company. The Company entered into a collaboration agreement to advance the discovery and development of drugs targeting several targets globally through AI technology. This has helped the company expand its market product portfolio and increase its global presence
North America AI in Bioinformatics Market Scope
North America AI in bioinformatics market is segmented on the basis of offering, type, product and services, application, and sector. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Offering
- Services
- Software
- Others
On the basis of offering, the North America AI in bioinformatics market is segmented into services, software and others.
Type
- Machine Learning
- Deep Learning
- Others
On the basis of type, North America AI in bioinformatics market is segmented into machine learning, deep learning, and others.
Products and Services
- Bioinformatics Services
- Bioinformatics Platforms
- Knowledge Management Tools
On the basis of product and services, the North America AI in bioinformatics market is segmented into bioinformatics services, bioinformatics platforms and knowledge management tools.
Application
- Genomics
- Chemoinformatics & Drug Design
- Proteomics
- DNA Sequencing
- System Biology
- Transcriptomics
- Text Mining
- Microarrays
- Metabolomics
- Others
On the basis of the application, the North America AI in bioinformatics market is segmented into genomics, chemoinformatics & drug design, proteomics, DNA sequencing, system biology, transcriptomics, text mining, microarrays, metabolomics and others.
Sector
- Medical Biotechnology
- Animal Biotechnology
- Plant Biotechnology
- Environmental Biotechnology
- Forensic Biotechnology
- Others
On the basis of the sector, the North America AI in bioinformatics market is segmented into medical biotechnology, animal biotechnology, plant biotechnology, environmental biotechnology, forensic biotechnology, and others.
North America AI in Bioinformatics Market Regional Analysis/Insights
North America AI in bioinformatics market is analyzed, and market size insights and trends are provided by country, offering, type, products and services, application, and the sector as referenced above.
The countries covered in the North America AI in bioinformatics market report are U.S., Canada, and Mexico. U.S. dominates in the North America region due to the high demand for AI in bioinformatics devices. Additionally, The U.S. has a robust R&D ecosystem with a significant investment in scientific research. Leading universities and research institutions in the country have made substantial contributions to the field of bioinformatics, including the application of AI techniques.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America AI in Bioinformatics Market Share Analysis
North America AI in bioinformatics market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to North America AI in bioinformatics market.
Some of the major players operating in the North America AI in bioinformatics market are JADBio & Gnosis Data Analysis, SOPHiA GENETICS, Biomax Informatics AG, DNASTAR, Ardigen, QIAGEN, Source BioScience., NeoGenomics Laboratories, Eurofins Scientific, Illumina, Inc., Thermo Fisher Scientific Inc., CelbridgeScience., Dassault Systemes Fios Genomics, Insilico Medicine, Strand Life Sciences, Paige AI, Inc., SomaLogic Operating Co., Inc., iNDX. Ai., and Elucidata among others.
SKU-