Global AI in Genetics Market Research Report Segmented by Application (Wellness & E-Commerce, Preventive Medicine, Diagnostic & Treatment); Function (Genome Sequencing, Gene Editing, Predictive Testing Of Genes, Others); End-user (Pharmaceutical & Biotech Companies, Healthcare Providers, Research Centers, Academic Institutes, Government Organizations, Other End Users); and Region - Size, Share, Growth Analysis | Forecast (2024 2030)

Market Size and Overview:

In 2023, the Global AI in Genetics Market was valued at USD 35.8 Million, and is projected to reach a market size of USD 112.42 Million by 2030. Over the forecast period of 2024-2030, market is projected to grow at a CAGR of 17.76%.

Market Overview

The exploration of human genetics revolves around understanding the transmission of genes across generations. A minute mutation in the genome can result in an illness phenotype. Various inheritance patterns, such as X-linked recessive, autosomal recessive, and autosomal dominant, are inherited from parents to offspring, with genetic illnesses manifesting as monogenic, multifactorial, or chromosomal. The utilization of genetic data in healthcare and advancements in genetic testing technology are anticipated to boost the AI in genetics market.

Governments globally have intensified their focus on regulating and promoting awareness about genetic tests, facilitating the widespread acceptance of these tests. The market presents a formidable entry barrier for new players due to increased research and development investment and the strong market presence of established companies. Sustaining a competitive advantage necessitates emphasis on product design innovation, quality enhancement, and robust distribution relationships. Notably, in August 2021, Ricoh Company Ltd. and DNA Chip Research Inc. introduced the RICOH Standard DNA Series EGFR mutation Type001, a reference DNA plate for blood-based genetic testing in the diagnosis of lung cancer.

The adoption of direct-to-consumer genetic testing kits is rapidly increasing in countries like the United States, China, and Japan. The DTC-GT (Direct-to-Consumer Genetic Testing) kits market is expected to witness substantial growth due to increased technological usage, awareness initiatives, and competitive pricing. Emerging economies, including India, present lucrative opportunities for companies aiming to establish a foothold in the genetic testing industry.

Covid-19 Impact on AI in Genetics Market

The global COVID-19 pandemic has profoundly affected lives worldwide, prompting governments to implement lockdowns and social distancing measures. Paradoxically, the healthcare and life sciences industries have experienced significant benefits. Companies are swiftly developing solutions that leverage artificial intelligence for the microscopic study of human genetics. Genomic data is instrumental in developing personalized treatments by pharmaceutical companies. Healthcare institutions utilize genetic information to analyze an individual's genetic composition, aided by advances in machine learning. Public health organizations are increasingly employing artificial intelligence to detect and prevent diseases, particularly in analyzing COVID-19 genomic sequences. The pandemic has accelerated the integration of artificial intelligence in genetics, with a positive impact on the global AI in genetics industry anticipated in the coming years.

Market Drivers

The market is being propelled by the increasing popularity of genetic testing.

Genetic testing, a medical examination evaluating genes, chromosomes, or proteins for mutations, is gaining prominence. The diverse range of genetic tests, including predictive and pre-symptomatic testing, carrier testing, prenatal and neonatal testing, diagnostic testing, and pharmacogenomic testing, aids in identifying genetic conditions or assessing the risk of developing one.

The expanding use of genetic data in healthcare and advancements in genetic testing technology are driving market growth.

Genetic testing categories such as Noninvasive Prenatal Testing (NIPT), carrier testing, pharmacogenomic testing, karyotype testing, thrombophilia testing, predictive testing, and ancestry & relationship testing are gaining traction. The data derived from these tests facilitates a comprehensive understanding of disease history, empowering individuals to take proactive measures for their health.

Market Restraints

The high cost of genetic testing is impeding market expansion.

The cost of genetic tests, ranging from $100 to $2,000 based on complexity, poses a financial barrier. Additionally, the necessity for multiple tests increases the overall cost. Limited insurance coverage further contributes to consumer reluctance, hindering market growth despite advancements in testing technology.

A shortage of skilled AI professionals and unclear legal requirements are hindering market expansion.

Companies require a specialized workforce proficient in cognitive computing, machine learning, deep learning, and image recognition to design and implement AI systems. Integrating AI into existing systems is challenging, demanding precision to avoid system failure or undesired outcomes. The scarcity of competent professionals and ambiguous legal requirements pose obstacles to market growth.

Global AI in Genetics Market Segmentation:

AI in Genetics Market - by Application Wellness & E-Commerce

• Preventive Medicine
• Diagnostic & Treatment

The segmentation of the market by application includes Wellness & E-Commerce, Preventive Medicine, and Diagnostic & Treatment. In an era marked by customization, where consumers personalize various aspects of their lives, there is a heightened focus on health and wellness. The consumer shift away from a one-size-fits-all approach to health, nutrition, and well-being is driving the expansion of these segments. The demand for personalized medical, nutritional, and wellness services is increasing, as consumers become more aware of genetic testing, leading to a shift in healthcare emphasis from treatment to prevention.

Physicians can utilize genetic testing to identify underlying genetic issues, enhancing diagnostic accuracy and therapeutic approaches. Technological advancements in assessing genetic diseases, coupled with increased consumer awareness and understanding of human genetics, have facilitated the acceptance of these segments.

AI in Genetics Market - by Function Genome Sequencing

• Gene Editing
• Predictive Testing of Genes
• Others

The global AI in genetics market is categorized into three functions: genome sequencing, gene editing, predictive gene testing, and others. Gene editing, or genome editing, encompasses technologies enabling scientists to modify the DNA of living organisms. Recent advancements, such as the CRISPR-Cas9 technology, are reported to be more cost-effective, precise, and efficient in gene editing. The integration of AI is expected to enhance the accuracy and safety of CRISPR technology. Notably, the Welcome Sanger Institute has developed a machine learning-based system to predict errors and improve the efficiency of CRISPR Cas9 gene editing. Gene editing holds the largest market share in the AI in genetics market as of 2021.

AI in Genetics Market - by End-user Pharmaceutical & Biotech Companies

• Healthcare Providers
• Research Centers
• Academic Institutes
• Government Organizations
• Other End Users

The market is segmented into Pharmaceutical and Biotech Companies, Healthcare Providers, Research Centers, Academic Institutes, Government Organizations, and Other End Users. In 2021, Pharmaceutical and Biotech Companies dominated the global AI in genomics market. Data is crucial for drug research in these companies, and AI plays a key role in the efficient and secure analysis of this data. The increasing demand to reduce time and costs in drug development, coupled with the rising prevalence of diseases like cancer and genetic disorders, supports the growth of this segment.

AI in Genetics Market - by Region North America

• Asia Pacific
• Latin America
• Europe
• Middle East and Africa

North America commands the largest share of the global AI in genetics market. This dominance is attributed to the high concentration of research and development activities in countries like the United States and Canada, along with significant end-user presence, particularly in the pharmaceutical sector. The United States, in particular, has been a pioneer in precision medicine, with an increasing number of startups offering AI-based genomics solutions. The Asia-Pacific region is projected to witness the fastest growth, driven by contributions from countries like India, China, Japan, and Singapore. China's substantial investment in AI technologies for genetics and collaborations with international corporations are significant factors contributing to the region's ascent.

AI in Genetics Market by Company

The AI in genetics market is competitive, with several prominent players in the Life Sciences industry. The market appears moderately concentrated, and leading players are focused on expanding their consumer base globally through strategic collaborations and acquisitions of startups specializing in AI in life sciences technologies.

In June 2020, the University of Kentucky announced a research collaboration with Atomwise, a leader in small chemical discovery using AI, to explore potential COVID-19 therapeutics. Major players in the global human genetics market include

Key Players:

• NIMGenetics (Spain)
• Sistemas Genómicos (Spain)
• FullGenomics (Spain)
• GENinCode (UK)
• Atrys Health (Spain)
• Geneva (Spain)
• Igenomix (India)
• Genologica (Spain)
• Bode Technology Group Inc (US)

Recent Developments in the AI in Genetics Market:

Product Launch

In October 2021, Igenomix introduced NACE, a non-invasive prenatal genetic screening test designed to identify chromosomal abnormalities. This move aims to revolutionize the Indian market and enhance the organization's market presence.

Partnerships and Collaborations

In June 2021, GENinCode entered into a partnership with Eversana to serve as its launch and commercialization partner. This collaboration is expected to facilitate the entry of GENinCode's portfolio of polygenic cardiovascular disease treatments, with a primary focus on hereditary risk, into the US market.

In January 2021, Myriad Genetics and Illumina established a strategic agreement in the field of oncology. As part of this collaboration, Illumina secured a time-limited exclusive agreement to manufacture a kit-based version of the myChoice CDx test for international markets.