AI In Bioinformatics Market to Soar to USD 136.3 Mn by 2033

Trishita Deb
Trishita Deb

Updated · Jul 8, 2024

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Introduction

The AI in Bioinformatics Market is projected to experience rapid expansion, growing from USD 3.8 million in 2023 to approximately USD 136.3 million by 2033 at a compound annual growth rate of 42.9% during this time frame (2024-2033). This forecast growth can be attributed to several key drivers including rising bioinformatics demand, decreasing sequencing costs and increased funding from public and private sources dedicated to bioinformatics research.

The bioinformatics market’s promising growth trajectory is underpinned by technological advancements and strategic collaborations among key players. Notable market players like Thermo Fisher Scientific, Illumina Inc. and Qiagen have led innovations and partnerships that are spearheading market expansion as well as bioinformatics applications development. Such collaborations often focus on building or upgrading bioinformatics tools to ensure effective management of biological data essential to gene therapy, drug discovery and personalized medicine advances.

Recent developments illustrate the sector’s dynamic nature, with significant investments driving advances in genomic and proteomic data analysis that is integral for understanding disease mechanisms and developing therapeutic strategies. AI bioinformatics is revolutionizing this field, speeding up data analysis while supporting discoveries of new disease pathways as well as aiding in the identification of therapeutic targets.

Bioinformatics presents several unique challenges to its practitioners, including the lack of standard data formats and user-friendly tools as well as managing and interpreting huge datasets that comprise bioinformatics research. Yet with continued technological innovations and investment flows into the sector, such obstacles should eventually be alleviated, providing a suitable environment for market expansion.

AI In Bioinformatics Market Growth

Key Takeaways

  • The AI in Bioinformatics market is projected to expand significantly, reaching an estimated value of USD 136.3 million by 2033.
  • Starting from a base of USD 3.8 million in 2023, this market is anticipated to experience a robust CAGR of 42.9%, forecast period from 2024 to 2033.
  • In 2023, the analysis services segment significantly dominated, achieving a 57.8% share of the market, indicating its pivotal role in the industry’s operations.
  • Machine learning emerged as the leading technology within the AI in bioinformatics sector, commanding a substantial 49.3% market share in 2023.
  • The bioinformatics service segment showcased remarkable profitability, securing a dominant 61.5% market share in 2023, reflecting its critical importance.
  • The genomic applications segment outperformed others in 2023, with its scaling advantages ensuring a leading 27.7% share of the market.
  • The medical biotechnology sector excelled in 2023, capturing a notable 38.4% revenue share, highlighting its dominance in the market.
  • Dominating the global AI in bioinformatics landscape, North America accounted for over 46.5% of the market, translating to a value of USD 1.7 million in 2023.
  • AI enhances genome sequencing by processing genetic data up to 100 times quicker than traditional methods, facilitating rapid genetic information analysis.
  • Advanced AI tools like AlphaFold have revolutionized protein structure prediction, achieving over 90% accuracy and significantly reducing the necessity for lengthy experimental procedures.
  • Capable of processing petabytes of omics data, AI technologies assist scientists in decoding extensive biological data, enhancing their understanding of complex biological systems.
  • In diagnostics, AI has improved accuracy rates to above 95% in certain instances, such as pinpointing specific cancer types from pathology slides, enhancing diagnostic reliability.
  • AI’s role in personalized medicine involves synthesizing genomics, proteomics, and patient histories to craft tailored treatments, potentially boosting patient survival rates by 10-30%.
  • The efficiency of biomarker discovery is notably enhanced by AI, achieving a discovery rate 50 times faster than conventional methods, accelerating the transition from research to clinical use.
  • By incorporating AI in bioinformatics, research expenses can be trimmed by up to 40%, thereby lowering the financial hurdles to groundbreaking discoveries.
  • AI’s precision in guiding CRISPR technology for gene editing has reached success rates up to 90%, minimizing unintended effects and enhancing the safety of gene-editing interventions.
  • Neural networks have shown proficiency in protein amino acid positioning, attaining up to 84% accuracy, approaching the theoretical accuracy limit of 88%-90%.
  • A linear support vector machine has demonstrated a 95.8% success rate in categorizing cancer types using RNA sequencing data, showcasing high precision in cancer classification.
  • The expenditure for training sophisticated AI models like AlphaFold2 is substantial, necessitating the equivalent of 100-200 GPUs operating continuously for several weeks.
  • The quantity of genomic data is expanding rapidly, doubling approximately every 2.5 years, which underscores the need for potent AI tools to manage this burgeoning information.
  • AI-enabled drug repurposing studies have identified promising interactions, with several drug molecules exhibiting potential efficacy against proteins linked to Alzheimer’s disease.
  • A sophisticated Big Data and AI-powered platform was employed, encompassing an extensive database of over 3,790,000 startups and scaleups worldwide, enhancing research scope and depth.
  • The global distribution of 4,351 Biotech startups and scaleups was meticulously mapped out, showcasing their widespread presence through an illustrative Startup Heat Map.
  • Arpeggio Bio, an innovative US-based startup, was highlighted for its advanced RNA platform, which integrates artificial intelligence to decode complex RNA time series data effectively.
  • The Swedish startup DeepTrait was showcased for its application of AI in genomics, utilizing the technology to precisely analyze genomic data and identify gene markers.

Emerging Trends

Artificial Intelligence (AI) in bioinformatics is experiencing rapid and transformative advancements. These trends are intricately linked with biotechnology and computational biology developments and market analyses conducted on this area of science. Here are a few key trends and insights discovered through recent research and market analyses:

  • Biomanufacturing and Artificial Intelligence Integration: Biomanufacturing has evolved with the introduction of AI, where biological systems are utilized to produce medical products, therapies, and other materials. AI is being employed to optimize bioprocessing steps – making biomanufacturing more cost-effective, scalable and sustainable; innovations in cell culture technologies fermentation processes and recombinant production have all been enhanced through AI-powered data analytics and automation – aligning perfectly with Industry 4.0 paradigms.
  • Advancements in Synthetic Biology: Synthetic biology is experiencing rapid advances thanks to AI. Standardization and reproducibility are being improved through standard genetic manipulation methods; thereby expediting product development across industries including pharmaceuticals, materials, food processing etc. AI’s role includes computational drug design; optimizing metabolic pathways as well as designing novel enzymes/genetic circuits etc.
  • Bioinformatics Data Analysis: Bioinformatics remains a cornerstone of modern biology research, offering essential support in comprehending complex biological data. At its core, it involves extracting knowledge from biological information through algorithms and software development; tasks include the storage, retrieval, manipulation and modeling of the collected information for subsequent analysis, visualization or prediction purposes. AI and bioinformatics work hand in hand to improve biological interpretation capabilities leading to advances in personalized medicine research as well as genomic explorations as well as understanding of our microbiomes.
  • Recent Advances and Software Development: Recent advances in bioinformatics research emphasize the significance of artificial intelligence (AI) in analyzing biological data. Tools and software are being improved to increase usability, accessibility, and analytical capability – this is critical for applications such as protein structure elucidation, understanding microbiota role in diseases, developing predictive models for environmental and health studies and the creation of predictive models for them as well as ongoing efforts focusing on creating more efficient computational frameworks that can handle vast amounts of biological sciences data generated every day. Current bioinformatics research efforts include creating more efficient computational frameworks/algorithms capable of handling vast amounts of data generated each day within biological sciences studies.

Use Cases

Exploring the use cases of Artificial Intelligence (AI) in bioinformatics offers an intriguing intersection of technology and biology. AI integration into bioinformatics is revolutionizing our ability to interpret biological data, providing innovative solutions across various domains. Here are a few case studies highlighting recent research

  • Bioinformatics Data Analysis: Artificial intelligence has many applications in bioinformatics, from DNA sequencing to gene expression analysis. Machine learning algorithms such as neural networks provide crucial insight from vast biological datasets by extracting invaluable knowledge gleaned through machine learning methods like neural networks. Such AI-powered methods allow scientists to recognize patterns and predict outcomes crucial for understanding complex biological systems and diseases.
  • Image Analysis in Biology: Artificial intelligence tools such as machine learning models are becoming more commonly employed to analyze biological images. Their powerful machine learning models offer the capability to distinguish and categorize elements within images with high precision, helping overcome human biases and errors that otherwise limit understanding disease mechanisms on a cellular level. This technology is especially helpful in areas like cell classification, tissue segmentation and understanding disease mechanisms at this level of analysis.
  • Drug Repurposing: AI has made an immense contribution to drug repurposing, in which existing medications are examined to identify new therapeutic uses for them. AI-powered approaches enable the exploration of large datasets of drug properties and biological interactions; helping researchers find drugs which can be repurposed effectively to treat different medical conditions efficiently.
  • Cancer Research: AI methodologies are being applied to various cancer datasets in order to discover cancer subtypes and relevant genes, by integrating multi-omics data such as gene expression, DNA methylation levels, molecular information etc. in order to gain new insights into cancer biology as well as potential therapeutic targets.
  • DNA Storage and Computing: Researchers are exploring innovative uses for DNA, using AI as an aid, for data storage and computation purposes. By taking advantage of its unique properties DNA is harnessed to encode and store vast amounts of information while AI algorithms help optimize this process and ensure efficient retrieval and accuracy of retrieving this information.

Integrating AI into bioinformatics not only increases accuracy and efficiency of data analysis but also opens up a host of new avenues for scientific discovery and innovation. The combination of these technologies has allowed for significant breakthroughs in personalized medicine, genetic research, biotechnological advancements and personalized healthcare technologies. As data volumes grow exponentially within bioinformatics, AI’s role becomes ever more integral as sophisticated tools emerge that help navigate this complex terrain to reveal valuable biological insights.

Recent Developments

  • In February 2024, QIAGEN, based in Germany, successfully acquired Cytoneuron, a Singaporean company renowned for its AI-driven single-cell RNA sequencing data analysis. This pivotal move is set to enhance QIAGEN’s bioinformatics capabilities, significantly bolstering their efforts in advanced drug discovery.
  • In January 2024, India’s Strand Life Sciences announced the beta release of Medius OS, its novel AI-powered drug discovery platform. Medius OS is designed to transform the drug development landscape by utilizing AI for efficient target identification, molecule generation, and virtual screening, thereby expediting the process of bringing new drugs to market.
  • in December 2023, The American biotech firm, Insilico Medicine, introduced its innovative AI platform, PandaOmics. This cutting-edge tool employs deep learning to analyze multi-omics data, enabling scientists to uncover new drug targets and biomarkers with unprecedented efficiency.
  • In October 2023, SOPHiA Genetics and Microsoft’s Collaborative Venture, marked the beginning of a strategic partnership between SOPHiA Genetics from Switzerland and the American tech giant, Microsoft. Their joint initiative focuses on the development of AI-enhanced solutions for genomic data analysis, hosted in the cloud to facilitate greater accessibility and scalability for clinical genomic applications.
  • In August 2023, SOPHiA GENETICS launched its innovative platform, the SOPHiA AI Clinical Exome. This platform is designed to enhance the efficiency of clinical exome analysis and reporting. It utilizes advanced AI algorithms to meticulously analyze genetic data, identifying potential variants that may cause diseases. This technological advancement aims to enable medical professionals to achieve faster and more accurate diagnoses.
  • In July 2023, Thermo Fisher Scientific completed the acquisition of Biomatics, a leading company specializing in cloud-based solutions for managing and analyzing life sciences data. This strategic move has significantly strengthened Thermo Fisher’s position in the bioinformatics market, especially in AI-driven sectors. It provides Thermo Fisher with valuable access to Biomatics’ cutting-edge technology and expertise in biological data management and analytics.
  • In June 2023, QIAGEN formed a strategic partnership with NVIDIA in June 2023, focusing on developing AI-powered solutions for analyzing next-generation sequencing (NGS) data. This collaboration harnesses the power of NVIDIA’s Clara AI platform and its advanced computing hardware to transform NGS data analysis. The goal is to accelerate the data processing speed, facilitating breakthroughs in precision medicine and enhancing the efficiency of drug discovery processes.

Key Players Analysis

  • Fios Genomics excels in the bioinformatics sector by providing advanced data analysis solutions that support drug discovery and development across various industries, including pharmaceuticals and academia. Their expertise in analyzing high-dimensional, multi-variant datasets such as next-generation sequencing, proteomics, and metabolomics allows them to offer biologically relevant insights, which are critical for making data-driven decisions in drug development. The strategic partnership with Charles River Laboratories enhances their capability to deliver integrated and accelerated outcomes for their clients, further solidifying their position in the market.
  • Source BioScience is actively integrating artificial intelligence into their bioinformatics sector, enhancing capabilities in genomic and precision medicine. Their strategic acquisition of LDPath Ltd for £18.5 million underscores a commitment to expanding digital and AI-driven pathology services. This move facilitates the transformation of diagnostic processes and broadens their impact across both private and NHS healthcare sectors. Source BioScience’s initiatives are aimed at streamlining laboratory efficiencies and reducing diagnostic backlogs, illustrating their dedication to innovating at the intersection of technology and biology.
  • Eurofins Scientific, based in Luxembourg, leverages its expertise in next generation sequencing (NGS) to advance the field of bioinformatics, particularly in AI-driven applications. They are recognized for their pioneering role in offering NGS services in Europe, supporting a range of genomic projects with their high-throughput sequencing capabilities. Their services include comprehensive sample preparation, library generation, and intricate data analysis, all backed by ISO certification and GLP accreditation. This enables Eurofins to deliver precise and tailored bioinformatics solutions, supporting researchers across various scientific disciplines.
  • Thermo Fisher Scientific Inc. is leveraging artificial intelligence (AI) in the bioinformatics sector to enhance genomic research through its advanced next-generation sequencing (NGS) platforms. These systems, such as the Ion Torrent Genexus System, streamline the entire NGS workflow by automating key processes including sample preparation, sequencing, and data analysis. This automation significantly reduces manual intervention, making sophisticated genomic analysis more accessible and less dependent on specialized staff. The integration of AI not only expedites data processing but also improves the accuracy and efficiency of genetic analysis, thereby supporting faster scientific discoveries and innovations in healthcare.
  • Insilico Medicine, established in 2014, is pioneering in the AI-driven drug discovery domain, utilizing its advanced AI platform, Pharma.AI, for end-to-end drug development. The company has notably advanced to Phase II clinical trials with INS018_055, a drug discovered using AI, marking a significant milestone in leveraging AI for faster and cost-efficient drug discovery. This breakthrough not only showcases the potential of AI in developing treatments for critical diseases like fibrosis but also sets a precedent for future AI-powered drug discoveries.
  • Insilico Medicine is at the forefront of utilizing generative AI within the bioinformatics sector, notably advancing its AI-driven drug discovery process. Recently, the company has successfully advanced its first AI-discovered drug into Phase II clinical trials, targeting idiopathic pulmonary fibrosis—a notable achievement given the complexity and cost typically associated with drug development. By leveraging its proprietary Pharma.AI platform, Insilico has significantly reduced both the time and cost of drug development, demonstrating the potent capabilities of AI in bridging biology and chemistry to streamline the preclinical drug discovery process.
  • Paige AI Inc., in partnership with Microsoft, has been pioneering in the AI bioinformatics sector, especially within digital pathology. Their collaboration focuses on using Microsoft Azure for data management and AI application deployment, enhancing cancer diagnosis accuracy and efficiency through advanced AI algorithms. Paige AI Inc. is recognized for its groundbreaking work, storing substantial data volumes on Azure to support rapid and precise cancer diagnoses. This synergy not only accelerates digital transformation in pathology but also ensures Paige’s position as a leader in deploying clinical AI applications globally.
  • SomaLogic Operating Co. Inc. is a leader in the AI-driven bioinformatics sector, particularly in proteomics. Utilizing its proprietary SomaScan platform, the company excels in high-throughput protein measurement, capable of assessing thousands of proteins in a single assay. This approach is significantly enhanced by artificial intelligence, which refines data analysis and supports the integration of proteomics with other omics data. The company’s recent merger with Standard BioTools further extends its capabilities, promoting a more integrated approach to multi-omic technologies, thereby advancing the scope and accuracy of biomarker discovery​.
  • SOPHiA GENETICS, a leader in the AI bioinformatics sector, utilizes its cloud-based SOPHiA DDM™ Platform to revolutionize genomic data analysis. This platform, underpinned by artificial intelligence, assists healthcare providers by enhancing the accuracy and speed of genomic testing and data interpretation, particularly in identifying hereditary cancers and HRD-positive tumors. The company’s global outreach, involving over 70 countries and analyzing over 1.5 million genomic profiles, underscores its impact in democratizing data-driven medicine. SOPHiA’s continuous innovation in whole genome sequencing capabilities further exemplifies its commitment to advancing precision medicine globally.
  • QIAGEN is enhancing its impact in the bioinformatics sector by integrating artificial intelligence (AI) to deepen its next-generation sequencing (NGS) capabilities through its QCI Interpret software. This software now supports comprehensive clinical exome analysis, bolstered by AI to enhance the interpretation of complex genetic data. Furthermore, QIAGEN recently launched a substantial AI-derived biomedical knowledge base aimed at accelerating data-driven drug discovery. This innovation harnesses over 640 million biomedical relationships, aiding scientists in identifying causal relationships between genes, diseases, and drugs, thereby enriching research outcomes and reducing hypothesis testing time.
  • Strand Life Sciences is leveraging artificial intelligence (AI) in the bioinformatics sector to enhance genomic research and precision medicine. Founded over two decades ago and based in Bangalore, the company utilizes advanced AI tools like StrandNGS for data analysis, focusing on genomics and bioinformatics solutions. Their AI-driven approach aims to democratize precision medicine by making it accessible globally, improving data integration, and providing actionable insights for healthcare advancements.

Conclusion

In conclusion, the AI in Bioinformatics market is set to undergo transformative growth, revolutionizing how biological data is analyzed and utilized across various sectors. This market’s expansion is driven by the integration of AI with bioinformatics, enhancing the efficiency, accuracy, and scope of biological research and medical applications. The adoption of AI technologies is catalyzing advancements in drug discovery, personalized medicine, and genomic research, reflecting a broader trend towards the digitization and automation of scientific inquiry.

Strategic collaborations and technological innovations continue to fuel the sector’s development, promising significant impacts on healthcare, biotechnology, and the understanding of complex biological systems. As AI tools become more sophisticated, they are unlocking new possibilities in data analysis, contributing to groundbreaking discoveries and innovations. The future of the AI in Bioinformatics market looks promising, with its potential to foster more personalized, efficient, and innovative solutions in life sciences and healthcare industries.

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Trishita Deb

Trishita Deb

Trishita has more than 8+ years of experience in market research and consulting industry. She has worked in various domains including healthcare, consumer goods, and materials. Her expertise lies majorly in healthcare and has worked on more than 400 healthcare reports throughout her career.

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