Press release
Global Digital Biomarkers Market is projected to see a healthy growth of 35% by 2026 - High Costs involved in Drug Development & Growing Demand for Mobile Health Apps are driving the market growth
High Investments and Fundings to build Advanced Technologies to fuel its Market Demand
It is estimated that digital biomarkers are likely to become an important tool for future diagnostic and treatment protocols for specific indications such as Alzheimer's disease, Amyotrophic Lateral Sclerosis (ALS), Cancer. Rapid growth of the global digital biomarkers market has led to a number of investments and funding activities to accelerate research on digital biomarkers. Some of these are listed below:
• In May 2022, Imagene AI, an Israel based digital biomarker company, secured $21.5 million fundings that includes $3 million in seed funding led by Blumberg Capital and Series A round of $18.5 million led by technology-driven cancer medicine investors, to focus on precision medicine in cancer care.
• In February 2022, Koneksa, a company engaged in designing and validating digital biomarkers raised $45 million Series C Financing led by AyurMaya, joined by Takeda Ventures and Velosity Capital, and existing investors such as McKesson Ventures, Merck Global Health Innovation Fund, Novartis, and others, to accelerate the expansion of digital biomarker platform.
Leading pharmaceutical Companies and Government Bodies extend focus on Digital Biomarkers to boost the adoption of Digital Biomarkers Market
Digital biomarkers are much more than fitness trackers, smartwatches and other gadgets. The digital biomarkers market has witnessed a number of huge pharmaceutical companies partnering with innovative digital health start-ups to enhance the adoption of this technology and co-develop advanced healthcare solutions. As severe effects caused by Covid-19 pandemic, government bodies have also shown interest for the development of digital biomarker based therapeutic solution. Some of the recent developments in this space are listed as below:
• In March 2022, AstraZeneca partnered with Huma Therapeutics, a UK-based medical technology company, to develop Software as a Medical Device (SaMD) companion apps for several therapeutic conditions by combining predictive algorithms, digital biomarkers, and real-world data.
• In January 2021, Biogen announced its partnership with Apple for the development of cognitive health digital biomarkers by assessing the potential of iPhone and Apple Watch for conditions such as mild cognitive impairment.
• In September 2020, National Institute of Health (NIH) awarded a contract to physIQ, a company that bring life-saving therapies to market faster. This contract is aimed at developing an innovative AI-based digital biomarkers.
Competitive Landscape Analysis: Digital Biomarkers Market
The global digital biomarkers market is marked by the presence of established market players such as ActiGraph, LLC (US), AliveCor Inc. (US), Amgen Inc. (US), Biogen Inc. (US), AiCure (US), AstraZeneca (UK), and others.
Get Detailed Insights on Digital Biomarkers Market with a Sample Report @ https://meditechinsights.com/digital-biomarkers-market/
Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.
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