Global Digital Biomarkers Market Scope Report

Global Digital Biomarkers Market Highlights Over 2023 - 2035

The global digital biomarkers market is estimated to garner a revenue of USD 30.0 Billion by the end of 2035 by growing at a CAGR of ~35% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 3.0 Billion in the year 2022. The growth of the market can be attributed to the increasing digitalization in healthcare sector for the continuous monitoring of people health. Moreover, there has been a rising investment in healthcare digitalization that is further expected to drive the growth of the global digital biomarkers market. Nearly 60 per cent of the United States adults look for medical information and health on the internet.

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Digital biomarkers are objective, quantifiable behavioral and physiological data collected and measured using digital devices such as portables, wearables, or implants. The information gathered is usually used to explain, influence, or predict health-related outcomes. Biomarkers can play several roles. Moreover, they can be used as a diagnostic tool to identify patients with abnormal conditions, as a tool for staging disease extent, as an indicator of disease prognosis, or for predicting and monitoring response to an intervention. Therefore, the high prevalence of chronic diseases is anticipated to surge the growth of the global digital biomarkers market. As per the statistics stated by Centers for Disease Control and Prevention, approximately 6 in 10 adults have a chronic disease in the United States.

Global Digital Biomarkers Market: Growth Drivers and Challenges

Growth Drivers

• Rising Adoption of Wearable Devices- The wearable devices are used for measuring the health conditions and it is projected to boost the growth of the global digital biomarkers market. There are more than 700 Million connected wearable devices around the world in the year 2019.

• Rapid Use of Health-Related Mobile Applications– There was approximately one Million downloads of fitness apps during the COVID-19 pandemic in United Kingdom

• Increasing Incidence of Mood Disorders– According to the data reported by World Health Organization, nearly 970 Million people were living with mental disorder in the year 2019.

• Surging Investment in Advancement of Technology– More than 37 per cent of the enterprises around the globe are utilizing artificial intelligence by the end of the year 2021. Artificial intelligence helps in diagnosing diseases and selects the appropriate treatment. Therefore, it is anticipated to surge the growth of the global digital biomarkers market.

Challenges

• High Cost for the Digital Biomarkers

• Lack of Awareness Among People

• Sometimes May Show Inaccurate Result

The global digital biomarkers market is segmented and analyzed for demand and supply by application into cardiovascular, respiratory disorders, sleep & movement disease, diabetes, psychiatric disorders, and others. out of these, the cardiovascular segment is anticipated to hold the largest share over the forecast period owing to the increasing number of people suffering from cardiovascular diseases. Moreover, there are numerous causes for cardiovascular diseases such as excessive alcoholism, high tobacco consumption, and others. According to the World Health Organization, cardiovascular diseases are taking nearly 17.9 Million lives every year across the globe.

Global Digital Biomarkers Market Regional Synopsis

Regionally, the global digital biomarkers market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 on the back of surge in the number of ageing population, rising prevalence of chronic diseases, and rapid adoption of digital health technologies. Furthermore, there has been increasing expenditure on the advanced healthcare infrastructure is further expected to boost the growth of the market in the region. In the year 2021, more than 10 per cent of the India’s population is over the age of 60 years.

Market Segmentation

Our in-depth analysis of the global digital biomarkers market includes the following segments:

Key Companies Dominating the Global Digital Biomarkers Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global digital biomarkers market that are included in our report are Amgen Inc., Kinsa Inc., Bayer AG, GlaxoSmithKline plc., Pfizer Inc., AliveCor, Inc., F. Hoffmann-La Roche Ltd., Brainomix, Sonde Health Inc., Takeda Pharmaceutical Company Limited, and others.

Global Digital Biomarkers Market: Latest Developments

• September, 2022: GlaxoSmithKline plc and Microsoft corporation announced its collaboration with the Center for Health and Diseases Studies for the launch of disease surveillance project in Nepal.

• October, 2022: Brainomix, announced the collaboration with United Kingdom government funded NCIMI to optimize and validate artificial intelligence powered technology in lung cancer care

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.   

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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