Digital Biomarkers Market To Reach USD 21,986.2 Million by 2030 | P&S Intelligence

The total revenue generated by the digital biomarkers market in 2021 was USD 1,850.8 million, and it will advance at a compound annual growth rate of 31.6% in the years to come, to reach USD 21,986.2 million by 2030, according to a market research report, published by P&S Intelligence.

Digital biomarkers are the substance of precision medicine since they offer concrete evidence of patient outcomes.

Furthermore, the healthcare system is moving in the direction of a value-based delivery paradigm, spurred the expansion of state-of-the-art technologies, for example digital biomarkers. The key goal of developing such technology is to advance custom-made care delivery through an improved analysis of patients' healthcare info.

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Data collection tool had over 90% share in the past. These help in the gathering and the extraction of the new digital biomarkers that are patient-centric and more accurate, clinically beneficial and more objective than those extracted through conventional research approaches, including subject rating scales and diaries of the patients.

The cardiovascular application significantly developed with regards to revenue, with a share of over 20% in 2021. This is as a result of an increase in the prevalence of CVDs in the global population.

As per a government source, they had about 32% of the global mortality, with 17.9 million individuals dying yearly.

The increasing occurrence of cardiovascular diseases because of many causes, including high consumption of tobacco, bad eating habits, and extreme alcoholism, will fuel the development of this in the future. Digital biomarkers take in the patient data and improve patient care and outcomes of the treatment.

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APAC dominated the digital biomarkers market, with regards to revenue, and it will continue its dominance in the years to come. Recently, the increasing government expenditure on the expansion of cutting-edge healthcare infra has significantly boosted the acceptance of digital biomarkers in the APAC.

The propagation of digital technologies and their snowballing acceptance in the healthcare sector are driving the growth.

China is quickly growing because of the budding acceptance of internet connectivity, mobile phones, and digital health techs, which opened up new pathways for improving non-transmissible disease care delivery and population health management.

North America is the most-lucrative region for the digital biomarkers. The growing healthcare spending, combined with the rising consumer demand for efficient, effective, and advanced solutions, is assisting in the development of the industry.

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Furthermore, the high acceptance of digital technologies in the continent has fueled the growth of the market recently, and it is will continue to do so in the years to come as well.

Due to the increasing use of smartphones and internet, the demand for digital biomarkers will continue to grow significantly by the end of this decade.

Digital Biomarkers Market Size Breakdown by Segment

By Component
• Data Collection Tools
o Wearables
o Implantables
o Mobile apps
• Data Integration Software
By Type
• Clinical Trials
• Clinical Settings
By Application
• Gastrointestinal Diseases
• Sleep & Movement Disorders
• Cardiovascular Diseases
• Psychiatric Disorders
• Chronic Pain
• Neurodegenerative Diseases
• Diabetes
• Respiratory Diseases
By End User
• Biopharmaceutical Companies
• Payers
• Providers
Regional Analysis
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
• Asia-Pacific
o Japan
o China
o India
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
• Middle East and Africa
o Saudi Arabia
o South Africa
o U.A.E.

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This release was published on openPR.