AI in Bioinformatics Market

AI in Bioinformatics Market Overview

The global AI in bioinformatics market is estimated to be worth over USD 124.29Mn in 2033 and is expected to grow at CAGR of 42.5% during the forecast period (2024-2033).

AI in bioinformatics is transforming the sphere by allowing the evaluation of vast and complicated biological data sets with unparalleled accuracyand speed. Bioinformatics, which consolidates biology, computer science, and information technology, has significantly benefited from the incorporation of artificial intelligence. AI algorithms, specificallydeep learningand machine learning, are adept at determining patterns and making predictions from large-scale proteomic, genomic, and metabolomic data. This capability is critical for advancing personalized medicine, drug discovery, and understanding the genetic basis of diseases.

The global market for AI in bioinformatics is swiftly expanding, fuelled by the growing volume of biological data generated from high-throughput technologies such as next-generation sequencing (NGS) and mass spectrometry. The necessity for efficient data analysis tools that can manage the intricacy and scale of this data is a leading growth driver. In addition, the soaring adoption of AI in healthcare for predictive analytics and diagnostics further accelerates market growth.

Major developments in this field comprise the usage of AI for genome sequencing, where AI algorithms aid in assembling and annotating genomes faster and more precisely than conventional methods. In drug discovery, AI propels the identification of potential drug candidates by predicting molecular interactions and bioactivity. Along with that, AI-driven bioinformatics tools are improving the elucidation of genetic mutations and their association with diseases, aiding in the development of targeted therapies.

The market is also marked by substantial investments in AI and bioinformatics start-ups, collaborations between tech companies and research institutions, and the continuous evolution of AI algorithms to enhance their predictive power and reliability. North America dominates the market attributing to its advanced healthcare infrastructure, robust research and development capabilities, and significant funding. Nevertheless, Asia-Pacific is emerging as a fast-growing region, fuelled by growing investments in biotechnology and healthcare.

Thus, AI in bioinformatics is revolutionizing biological research and healthcare by offering powerful tools for data analysis and interpretation, fostering significant advancements in personalized medicine and drug discovery, and propellingstrong growth in the global market.

Figure 1. AI in Bioinformatics: Market Size

Get more details on this report - Request Free Sample

Key Market Insights &Current Market Landscape

The global AI in bioinformatics market is experiencing robust growth, driven by the increasing need to analyse and decipher vast amounts of biological data efficiently. The market is marked by substantialbreakthroughs in machine learning and deep learning algorithms, which improve the precision and speed of data analysis in genomics, proteomics, and metabolomics.

Significant developments comprise the integration of AI with next-generation sequencing (NGS) technologies, allowing faster and more accurate genome assembly and annotation. AI is also transforming drug discovery processes by predicting molecular interactions and bioactivity, considerablyminimizing the cost and time related to conventional methods.

Novel technologies such as AI-driven bioinformatics platforms are improving the understanding of genetic mutations and their ties to diseases, helping in the development of personalized medicine and targeted therapies. The incorporation of AI in diagnostic tools is enhancing predictive analytics, resulting in earlier disease detection and improved patient outcomes. North America commands the market owing to its advanced healthcare infrastructure and robust research capabilities, while the Asia-Pacific region is evolving as a high-growth area, fuelled by higher investments in biotechnology and healthcare.

Overall, the global AI in bioinformatics market is characterized by swift technological advancements and escalated adoption in healthcare, promising significant improvements in biological research and patient care.

Market Dynamics

Market Drivers

Increasing Ultimatum for Bioinformatics

As the volume of biological data generated from high-throughput technologies such as next-generation sequencing (NGS), mass spectrometry, and advanced imaging techniques continues to soar, there is an increasing need for refined tools to evaluate and interpret this data effectively. Conventional bioinformatics techniques often fall short in managing the sheer scale and intricacy of modern biological datasets. AI, with its advanced machine learning and deep learning algorithms, provides the capability to process and derive meaningful insights from immense data sets with exceptional speed and accuracy.

This soaring ultimatum is propelled by the expanding scope of genomic research, personalized medicine, and precision healthcare, which demand comprehensive and precise data analysis to determine genetic markers, understand disease mechanisms, and develop targeted therapies. AI in bioinformatics addresses these needs by improving the accuracy of genome assembly, supporting the identification of novel biomarkers, and enhancing the predictive modelling of disease outcomes.

In addition to that, the surging application of bioinformatics in drug discovery and development, where AI algorithms can predict molecular interactions and bioactivity, substantiallypropels the identification of potential drug candidates. This not only minimizes the time and cost associated with bringing new drugs to market but also improves the likelihood of success in clinical trials.

Market Restraints

With regard to numerous advantages of AI in bioinformatics, the market faces several challenges due to the unique characteristics and requirements associated with these potent pharmaceutical products. Some of the key market challenges include:

1. High Implementation Costs: The incorporation of AI technologies in bioinformatics comprisessignificant initial investment in advanced hardware, software, and specialized personnel. These high costs can be restrictive for smaller research institutions and companies, impeding their capability to adopt and benefit from AI-driven bioinformatics solutions. The financial strainrelated toadvancing existing infrastructure and continuous maintenance also poses a major restraint on the market's growth.
2. Data Privacy and Security Concerns: The usage of AI in bioinformatics comprisesadministeringmassive amounts of sensitive biological and genomic data. Ensuring the security and privacy of this data is a significant concern, as violations can result inmajor legal,ethical, and financial consequences. Stringent regulations around data protection, such as GDPR in Europe, add layers of complexity to data management practices, potentially hampering the seamless amalgamation and widespread adoption of AI technologies in the bioinformatics market.

Get more details on this report - Request Free Sample

Market Opportunity

Escalating Initiatives including Product Launches, Collaborations, Acquisitions, and Mergers

Increasing initiatives such as collaborations, product launches, acquisitions, and mergers stands as asignificant market opportunity for the global AI in bioinformatics market by fuelling innovation and expanding capabilities. Product launches bring new, leading-edge AI tools and solutions to the market, improving the ability to assess complex biological data more accuratelyand efficiently.

Collaborations between research institutions, tech companies, and healthcare providers support the pooling of expertise and resources, resulting in the development of advanced AI algorithms personalized for bioinformatics applications. These partnerships often result in breakthrough technologies that substantiallyenhance research quality and outcomes.

Acquisitions and mergers allow companies to incorporate complementary technologies and expand their product portfolios, offering comprehensive solutions that acknowledgedifferent bioinformatics needs. Such strategic moves also foster the sharing of intellectual property and best practices, propelling innovation and market growth. In addition, these initiatives improve the scalability and reach of AI bioinformatics solutions, making them more accessible to aextensive scale of users, including smaller research institutions and emerging markets.

Market Trends

1. Integration of AI with High-Throughput Sequencing Technologies: One leading trend in the global AI in bioinformatics market is the incorporation of artificial intelligence with high-throughput sequencing technologies, such as next-generation sequencing (NGS). AI algorithms improve the accuracy and speed of data analysis from these technologies, allowing more efficient genome assembly, variant detection, and interpretation of complex biological datasets. This integration is accelerating advancements in personalized medicine, genomics research, and disease diagnosis, making AI-powered bioinformatics solutions indispensable in modern biological research.
2. Adoption of Cloud-Based AI Solutions: Another significant trend is the growing adoption of cloud-based AI solutions in bioinformatics. Cloud platforms offer scalable computing resources and storage, allowing the efficient handling of large bioinformatics datasets. They support collaboration among researchers worldwide, providing shared access to data and AI tools. Cloud-based AI solutions also facilitate the deployment of advanced machine learning models for bioinformatics applications, improving accessibility and mitigating the necessity for substantial on-premises infrastructure investment. This trend is making advanced bioinformatics capabilities more accessible to an extensive range of institutions and fostering innovation across the sphere.

AI in Bioinformatics Market: Key Segments

By Offering

• Software
• Services
• Others

By Type

• Machine Learning
• Deep Learning
• Others

By Products and Services

• Knowledge Management Tools
• Bioinformatics Platform
• Bioinformatics Services

By Application

• Genomics
• System Biology
• Chemoinformatics and Drug Design
• Transcriptomics
• Metabolomics
• Microarrays
• Text mining
• Proteomics
• DNA Sequencing
• Others

By Sector

• Medical Biotechnology
• Plant Biotechnology
• Forensic Biotechnology
• Animal Biotechnology
• Environmental Biotechnology
• Others

By Key Geographical Regions

• North America
• Europe
• Asia-Pacific
• Middle East and Africa
• South America

Figure 4. AI in Bioinformatics Market: Distribution by Region

Get more details on this report - Request Free Sample

AI in Bioinformatics Market: Regional Analysis

North America leads the global Al in bioinformatics market in the year 2023, commanding a substantial market share in the year 2023. The market growth within the region is linked with the existence of market players and availability of advanced services. Moreover, the significant market players are focusing on novel product and service launches with continuous R&D efforts.

AI in Bioinformatics Market: Recent Developments

• In February 2024, QIAGEN announced the launch of QIAGEN Biomedical KB-AI, a new generative AI-driven knowledge base designed to propel drug discovery in the pharma and biotech industries. This new offering is designed for data scientists and bioinformaticians who are looking for the most comprehensive knowledge graphs to fuel data-driven drug discovery.
• In October 2023, BioLizard launched new AI-empowered “BioVerse” platform to facilitate data-driven R&D for global life sciences community.

Leading AI in Bioinformatics Developers

Industry Trends and Global Forecasts, 2023-2035 report features an extensive study of the current market landscape, market size and future opportunities associated with the AI in Bioinformatics market, during the given forecast period. Further, the market report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the biopharmaceutical industry. Key takeaways of the AI in Bioinformatics market are briefly discussed below.

The report includes the list of players operating in the global AI in Bioinformatics market. Some of the key players include:

• Eurofins Scientific
• Fios Genomics
• Insilico Medicine
• QIAGEN
• Paige Al, Inc.
• Thermo Fisher Scientific, Inc.
• Source BioScience
• SomaLogic Operating Co., Inc.
• SOPHiA Genetics
• Strand Lifescience

Scope of the Report

The market report presents an in-depth analysis of the various firms / organizations that are engaged in this market, across different segments, as defined in the below table: