Global (AI) Artificial Intelligence in Precision Medicine Market Size Will Grow Over USD 26.24 Billion By 2032, at 35.5% CAGR: Report by Polaris Market Research

NEW YORK, Jan. 20, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Artificial Intelligence in Precision Medicine Market Share, Size, Trends, Industry Analysis Report, By Technology (Deep Learning, Querying Method, Natural Language Processing, and Context Aware Processing); By Component; By Therapeutic Application; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

According to the research report, the global (AI) artificial intelligence in precision medicine market size & share was valued at USD 1.26 Billion in 2022 and is expected to reach USD 26.24 Billion by 2032, growing at a CAGR of 35.5% during the forecast period.

What is (AI) Artificial Intelligence in Precision Medicine? How Big is (AI) Artificial Intelligence in Precision Medicine Market?

• Artificial intelligence in precision medicine market: Overview

Precision medicine methods recognize phenotypes of patients with less common responses to treatment or unique healthcare needs. The rapidly rising demand for artificial intelligence in precision medicine market can be attributed to AI leveraging sophisticated computation and inference to generate insights, enabling the system to reason and learn and empower clinician decision-making through augmented intelligence.

The growing R&D spending and increasing demand for tailored medication drive market growth. Collaboration amongst key companies is further driving the industry's expansion. For instance, Sanofi and Atomwise agreed to a USD 20 million deal in August 2022, in which Sanofi agreed to use Atomwise's AtomNet platform for research and computational discovery research on up to five therapeutic targets. Through swift AI-powered searches of the company's exclusive library of more than three trillion synthesizable complexes, the platform ingrained deep learning-based modules for the structure-based designing of pharmaceuticals.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Key data covered in the market report

• The report entails a detailed quantitative analysis of the current market trends to recognize prevailing opportunities.
• Market estimations are based on a comprehensive analysis of key developments in the industry.
• The market is comprehensively analyzed in the context of product type, technology, application, and region.
• The development strategies adopted by key manufacturers are enlisted to comprehend the competitive scenario of the market.

Some of the Top Market Players Are:

• GE Healthcare
• NVIDIA Corporation
• Intel Corporation
• Microsoft Corporation
• IBM Corporation
• Alphabet Inc.
• BioXcel Therapeutics Inc.
• AstraZeneca
• Enlitic Inc.
• Sanofi
• Sensely Inc.
• Zephyr AI
• Tempus
• Insilico Medicine
• Berg LLC
• Modernizing Medicine Inc.
• Novo Nordisk A/S
• Atomwise Inc

To know an additional revised list of top market players, request a sample report, 2023-2032: https://www.polarismarketresearch.com/industry-analysis/artificial-intelligence-in-precision-medicine-market/request-for-sample

Key factors driving market growth

• Growing geriatric population to push the market

The growing cases of respiratory diseases, rapid technological progress in healthcare, and the ever-increasing geriatric population is driving the market growth. Artificial intelligence in precision medicine market size is expanding due to the increased usage of therapeutic respiratory devices such as nebulizers, oxygen concentrators, and humidifiers will help drive the industry growth. The growing prevalence of respiratory ailments such as sleep apnea and chronic obstructive pulmonary disease is anticipated to boost the development of the market.

Artificial intelligence in precision medicine market sales is soaring as prominent companies are increasingly adopting collaborations and partnerships as strategies to maintain their market position. For instance, Intel collaborated with the University of Pennsylvania's Perelman School of Medicine to create an AI model that assists in the detection of brain cancer. Penn Medicine collaborated with 29 international organizations to build this tool using a privacy-preserving method known as federated learning.

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Recent trends influencing the market

• The advent of technologies for knowing about the origins of many diseases propelled the market

As AI enters the world of precision medicine, the technology can help pharmaceutical manufacturers to deepen their knowledge about the origins and course of many diseases. More than 60 biotech companies are working towards progressing therapies for rare cancer conditions using advanced analytics capabilities.

AI models and methods are essential for recognizing causal genes from those with a difference of unsure importance, which was earlier difficult to determine with bioinformatics prediction. Also, AI-based solutions such as Human Splicing Code and DeepSEA have been a fountain for enhancing genetic diagnostics in neurodevelopment disorders and making accurate categorizations of missense variants.

Segmentation assessment

• The deep learning segment accounted for a significant global market share

Based on technology, the deep learning segment accounted for a significant global market share and is expected to retain its position during the projected period. Artificial intelligence in precision medicine market demand is on the rise due to a swift upswing in developments of data center capabilities, growing capacity for executing tasks without human intervention, and comparably high processing power compared to others.

• The software segment held the highest market share in terms of revenue

Based on components, the software segment held the highest market share in revenue and would witness substantial growth over the expected period. Artificial intelligence in precision medicine market trends includes the growingly escalating adoption of several AI-based software solutions in precision medicine by many research institutes, healthcare payers, and patients, along with the increasing focus on the development of prevailing software and advancing new ones are major factors behind the significant growth of the market.

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Artificial Intelligence in Precision Medicine Market: Report Scope

Geographic Overview

• Increasing progressive diagnosis to drive the European market

By geography, the market is segmented into North America, Europe, APAC, South America, the Middle East, and Africa. The report estimates the rise in the region's revenue due to collaboration between essential businesses.

Europe held the largest artificial intelligence in precision medicine market share because of the continuously growing demand and the prevalence of progressive diagnosis. The growing importance of AI in examining the patient condition and their advancement in multiple stages of illness motivates and captivates healthcare professionals to select these types of advanced technologies and push the market growth in the region.

North America dominated the market and is anticipated to maintain its dominance throughout the study period due to swift growth in the investment linked with research and development-related activities and existence of robust healthcare infrastructure in countries such as the US and Canada, and high consumer spending capacity in their health and wellbeing in the region.

Browse the Detail Report "Artificial Intelligence in Precision Medicine Market Share, Size, Trends, Industry Analysis Report, By Technology (Deep Learning, Querying Method, Natural Language Processing, and Context Aware Processing); By Component; By Therapeutic Application; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/artificial-intelligence-in-precision-medicine-market      

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Recent Developments

• In November 2022, MedStar Health announced a partnership with Zephyr AI Inc., to develop artificial intelligence-based precision medicine tools. The new partnership is expected to leverage MedStar Health's patient health management expertise to further improve and enhance Zephyr AL's predictive analytics.

Polaris Market Research has segmented the artificial intelligence in precision medicine market report based on technology, component, therapeutic application, and region:

By Technology Outlook

• Deep Learning
• Querying Method
• Natural Language Processing
• Context-Aware Processing

By Component Outlook

• Hardware
• Software
• Service

By Therapeutic Application

• Oncology
• Cardiology
• Neurology
• Respiratory
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research