The global digital biomarkers market size is expected to reach USD 14.0 billion by 2030, registering a CAGR of 22.3% during the forecast period, according to a new report by Grand View Research, Inc. Due to the rising acceptance of recent advancements and remote technologies, the market for digital biomarkers is anticipated to expand throughout the forecast period. Development of the remote data collecting technologies, which make up the largest segment of the market for digital biomarkers, has been propelled by the improvements in wearable and mobile technology. Additionally, this markeat segment is being further assisted by the growing use of the internet.
Digital Biomarkers Market Report Highlights
- Cardiovascular and metabolic disorders (CVMD) had the highest revenue share of more than 20.0% in the therapeutic area segment in 2021 and is anticipated that it will continue to have a significant major presence given the rising prevalence of cardiovascular diseases among patient populations around the globe. On the other hand, due to COVID-19 and emerging new technologies, it is anticipated that during the forecast period, market revenue share for respiratory disorders will expand at the fastest rate
- Due to the growing use of diagnostic monitoring meant for clinical disease and daily living, diagnostic digital biomarkers had the largest revenue share in the clinical practice segment in 2022. Moreover, the fastest revenue growth is anticipated for monitoring digital biomarkers during the forecast period
- Wearable had a revenue share of more than 39.5% in the digital biomarker type segment in 2022, due to the release of new, cutting-edge wearable smart watches and other products. As a result of the extensive usage of smartphones, worldwide, it is anticipated that revenue share growth for mobile-based applications would happen at the fastest rate during the forecast period. Additionally, rising usage of new technologies, and sensors, would also confront intense competition during the forecast period
- Healthcare companies hold the largest, more than 50.0% market share within the end-use category, in 2022, as a result of the rising indications and demands for cost-effective clinical trial and product analysis strategies
- North America dominated the market in 2022 and generated more than 58.9% share of the total revenue, as a result of its well-established advanced healthcare infrastructure and large expenditure in R&D activities. Furthermore, Europe would see the fastest rate of growth during the forecast period
- By engaging in partnerships, acquisitions, mergers, and product launches, key companies also help the market to expand. For instance, in 2022, Med able collaborated with the digital biomarkers business Aural Analytics to measure distant speech patterns and monitor their well-being and stage of decline
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Vocal digital biomarkers in particular have lately come into existence and offer enormous business development potential. They enable easy data collection through voice recordings and through patient-owned technology like cell phones, wearables, and other devices. Vocal biomarkers are being utilized more frequently, which might ease the strain on the healthcare systems and improve patient outcomes by enhancing early intervention and before-time identification of physical or mental illnesses, boosting the market's expansion during the forecast period.
Furthermore, in order to acquire market presence and further boost its revenue market share during the forecast, players have also begun exploring the vocal digital biomarkers. For instance, in October 2021, Sonde health launched a voice-enabled mental fitness monitoring technology platform.
Additionally, the market is anticipated to experience substantial expansion during the forecast period due to the rising prevalence of chronic diseases and neurodegenerative diseases, as well as the growing need for enhanced drug development to successfully control these diseases. In comparison to the conventional clinical trial process, digital biomarkers accelerate the development of new drugs.
According to a study by one of the well-known decentralized trial platform providers, Med able, 85.0% of all clinical trials experience some sort of delay, with the financial impact of delays costing between USD 600,000 and USD 8 million per day, decentralized clinical trials could save up to 1 to 3 months of time in phase 2 studies. As a result, medicine manufacturers are spending money on a digital biomarker for DCT, which is anticipated to fuel market expansion. For instance, AstraZeneca stated in March 2022 that it had invested USD 33.0 million in Huma, a UK-based company that provides decentralized clinical trials based on remote digital biomarkers. Through this alliance, the company will quicken the adoption of DCT.
End-use Segment Insights
The market is segmented into healthcare companies, healthcare providers, payers, and others, including patients and caregivers. Healthcare companies held the largest share, attributed to the fact that healthcare companies have been working toward integrating digital measurements across the spectrum of clinical care & research to ensure connected devices provide a comprehensive view of patient health. The growth of the payers segment is attributed to the rising adoption of novel digital biomarkers in insurance firms and payers' ability to use these tools to satisfy patient needs further & develop individualized care plans with schedules for prior authorization.
Clinical Practice Segment Insights
Diagnosis digital biomarkers held the largest share, owing to the increasing use of the linked digital devices and health-related mobile applications for the diagnostic and monitoring of the measurements used for a variety of disease categories, including cardiovascular illnesses, mental health, neurological diseases, and diabetes. Monitoring digital biomarkers segment growth was attributed to the rising investment in wearable technology and smartwatches, which will offer easier and more accurate access to health-related information. Wearables from biopharmaceutical companies are enhancing internal procedures by understanding patient biometrics and functionality from tracking, heart rate, sleep, and disease-specific biometrics like monitoring, electro-stimulation, and sweat analysis.
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Therapeutic Application Segment Insights
The cardiovascular diseases category currently maintains the greatest market share, due to the fact that cardiovascular disease is the world's leading cause of death while being a perfectly preventable condition. Due to the rising number of investments and financing initiatives to speed up research on digital biomarkers, the healthcare companies segment is likely to experience dominant market growth during the period.
The development of remote data collecting technologies, the main technological component of the digital biomarker market is anticipated to have benefited from wearable technology improvements throughout the forecast period. Mobile-based applications would rise significantly due to the rising popularity of mobile applications, which is a major factor in the market growth. Additionally, this market area is benefiting from the growing use of the internet. Market participants are establishing their market presence through the strategies like teaming up with regional players to broaden their customer and provide better solutions at a cheaper cost, which will ultimately boost overall market growth
Latest Market Trends and Developments
Forward-thinking market participants are expanding their decisions and moving beyond typical suppliers in order to strengthen the company’s position in the global market for digital biomarkers by utilizing the wide range of technology capabilities and services required for future success. These companies have employed a variety of strategies such as product launches, joint ventures, and mergers & acquisitions. For instance, in April 2022, Pfizer acquired ResApp, an Australian- based startup that had created an app that uses artificial intelligence to gauge and determine the severity of respiratory problems using the coughing voice of a patient.
Major Companies in the Digital Biomarkers Market
- ActiGraph LLC
- AliveCor Inc.
- Koneksa
- Altoida Inc.
- Amgen Inc. (Public)
- Biogen Inc. (Public)
- Empatica Inc.
- Vivo Sense
- IXICO plc (Public)
- Adherium Limited (Public)
- Neurotrack Technologies, Inc.
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Segmented the global digital biomarkers market based on the type, clinical practice, therapeutic area, end-use, and region:
Table of Contents
Fig. 1 Market segmentation
Fig. 2 Market research process
Fig. 3 Data triangulation techniques
Fig. 4 Primary research pattern
Fig. 5 Market research approaches
Fig. 6 Value-chain-based sizing & forecasting
Fig. 7 QFD Modeling for market share assessment
Fig. 8 Market formulation & validation
Fig. 9 Commodity flow analysis
Fig. 10 Segment-Based Penetration Model
Fig. 11 Market summary (2021, Million)
Fig. 12 Penetration & growth prospect mapping
Fig. 13 Market variable analysis
Fig. 14 Market driver relevance analysis (Current & future impact)
Fig. 15 Market restraint relevance analysis (Current & future impact)
Fig. 16 Digital Biomarkers Market: By Type Movement Analysis, 2021 & 2030
Fig. 17 Wearable Market, 2017 - 2030 (Million)
Fig. 18 Mobile based Applications Market, 2017 - 2030 (Million)
Fig. 19 Sensors Market, 2017 - 2030 (Million)
Fig. 20 Others Market, 2017 - 2030 (Million)
Fig. 21 Digital Biomarkers Market: By Clinical Practice Movement Analysis, 2021 & 2030
Fig. 22 Diagnostic digital biomarkers market, 2017 - 2030 (Million)
Fig. 23 Monitoring digital biomarkers market, 2017 - 2030 (Million)
Fig. 24 Predictive and Prognostic digital biomarkers market, 2017 - 2030 (Million)
Fig. 25 Others digital biomarker market, 2017 - 2030 (Million)
Fig. 26 Digital Biomarkers Market: By Therapeutic Area Movement Analysis, 2021 & 2030
Fig. 27 Cardiovascular and metabolic disorders (CVMD) market, 2017 - 2030 (Million)
Fig. 28 Respiratory disorders market, 2017 - 2030 (Million)
Fig. 29 Psychiatric disorders market, 2017 - 2030 (Million)
Fig. 30 Sleep & movement disease market, 2017 - 2030 (Million)
Fig. 31 Neurological disorders market, 2017 - 2030 (Million)
Fig. 32 Musculoskeletal disorders market, 2017 - 2030 (Million)
Fig. 33 Others market, 2017 - 2030 (Million)
Fig. 34 Digital Biomarkers Market: By End-Use Movement Analysis, 2021 & 2030
Fig. 35 Healthcare companies market, 2017 - 2030 (Million)
Fig. 36 Healthcare Providers market, 2017 - 2030 (Million)
Fig. 37 Payers market, 2017 - 2030 (Million)
Fig. 38 Others market, 2017 - 2030 (Million)
Fig. 39 Regional marketplace: Key takeaways
Fig. 40 Regional outlook, 2021 & 2030
