Digital Biomarkers Market Reshaping Healthcare Quantifying Health Data-Driven Medicine Empowering Patients

Global Digital Biomarkers Market worth $17.58 Billion by 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Digital Biomarkers Market Size, Share & Trends Analysis Report By Applications (Sleep and Movement Disorders, Cardiovascular, Psychiatric Disorders (Mood and Behavior), Chronic Pain, Neurodegenerative Diseases, Diabetes, Respiratory Diseases, Others),

By System Components (Data Collection Tools (Wearables Devices, Implantable and Mobile Applications) and Data Integration Software), By Type (Clinical Trials and Clinical Settings), by End-User (Biopharmaceutical Companies, Payers and Providers), Region, Market Outlook And Industry Analysis 2031"

Get a free sample copy of the report: https://www.insightaceanalytic.com/request-sample/1937

According to the latest research by InsightAce Analytic, the global Digital Biomarkers market is valued at US$ 2.66 Billion in 2022, and it is expected to reach US$ 17.58 Billion by 2031, with a CAGR of 23.52 % during the forecast period of 2024-2031.

Digital Biomarkers: Transforming Healthcare with Digital Data
Digital biomarkers are revolutionizing healthcare by leveraging physiological and behavioral data collected through digital devices. These devices, including wearables, ingestibles, portables, and implantables, provide objective and quantifiable data for researchers and medical professionals.
Unlocking a Wealth of Health Insights

Digital biomarkers offer a wide range of applications:
• Monitoring Treatment Response: These markers can track how effectively medications are working in individual patients.

• Early Disease Detection: Digital biomarkers hold promise for identifying health risks and diagnosing illnesses at earlier stages.

• Personalized Medicine: By capturing unique physiological and behavioral data, digital biomarkers pave the way for personalized healthcare approaches.
• Tracking Health Progress: These markers enable individuals to monitor their health status and progress towards wellness goals.

Passive vs. Active Biomarkers
Digital biomarkers can be categorized into two main types:
• Passive Biomarkers: These collect data continuously in the background without requiring any specific action from the user (e.g., heart rate data from a smartwatch).

• Active Biomarkers: These require user interaction to collect data, such as performing a specific task on a smartphone app.

Boosting Drug Development and Patient Access
Digital biomarkers are playing an increasingly important role in drug development. They can potentially facilitate the use of Direct Health Technologies (DHTs) to evaluate medications, leading to faster access to safe and effective therapies for patients. Moreover, digital biomarkers can aid in identifying potential health predictors and treatment effects, requiring further scientific exploration in the future.

They can even go beyond biological data, detecting external factors like pollen count through environmental monitoring.
Market Growth Driven by Innovation and Adoption

The digital biomarker market is experiencing significant growth fueled by several factors:
• Rise of Voice Biomarkers: The increasing use of voice-based digital biomarkers is opening new avenues for healthcare monitoring.

• Regulatory Support for Digital Health: A more favorable regulatory environment for digital healthcare solutions is fostering market expansion.

• Mobile Health Revolution: The widespread adoption of smartphone apps and wearable devices in healthcare is creating a strong demand for digital biomarker technologies.

• Unmet Needs in Drug Development: The high failure rate of drugs for neurodegenerative diseases highlights the need for better clinical trial methods, where digital biomarkers can play a crucial role.

• Global Innovation and Emerging Markets: Advancements in digital biomarker technologies and their growing use in emerging economies are further propelling market growth.

• FDA Approvals and New Products: The number of FDA approvals for digital biomarkers and the continuous introduction of new products are expected to be key drivers in the coming years.

In conclusion, digital biomarkers are transforming healthcare by providing valuable, objective data for a deeper understanding of health and disease. As the technology continues to evolve and gain regulatory acceptance, digital biomarkers hold immense potential to revolutionize drug discovery, disease management, and personalized medicine.

However, there are some market restraints like the Data Measurement errors, Deficiency of Integration, Lack of Use Cases of the Return on Investment (ROI) Analysis, Interoperability between Medical Records & User Generated Data, the requirement for standardized solutions and the high cost of biomarkers. These aspects can strongly affect market growth.

Region-wise, North America is forecast to hold the leading global digital biomarkers market share. The presence of leading industry players is estimated to contribute to the regional development in the global digital biomarkers market.

Competitive Landscape
Some of The Key Players in The Digital Biomarkers Market:

• Alphabet Inc.
• AliveCor Inc.
• Akili Interactive Labs, Inc.
• Cambridge Cognition Ltd
• Dassault Systèmes
• IXICO plc
• Koninklijke Philips N.V
• Shimmer
• Quanterix Corporation
• Altoida AG
• Evidation Health, Inc.
• Happify, Inc.
• Huma
• Human API
• Mindstrong Health
• Neurotrack Technologies, Inc
• Orikami
• Winterlight Labs Inc.

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Key Developments in the Market
• In Mar 2022, Altoida's additional capital brings the series A financing round to $20.3 million. The precision neurology company will use the funds to advance its first in class ai-powered neurocognitive assessment platform.

• In Jan 2021, Happify launched a digital wellness program called "Claro" with Happify, which develops digital therapeutics for people with chronic diseases, leaning on its team of scientists, physicians and gaming experts to help people manage mental health.

• In May 2020, Altoida Inc., a predictive digital biomarker company announced that it had finance from Hikma Ventures. The brain health data platform is used by researchers, patients and physicians across the globe to detect Alzheimer's Disease (AD) up to ten years prior to onset. The additional funding will further expand Altoida's presence in the US, Japan, Europe, and Brazil and follow the company's $6.3 million Series A round.

• In Dec 2018, Eli Lilly & Co. expanded its collaboration with Evidation Health into a multi-year project to develop digital biomarkers for disease, derived from smartphones, wearable sensors, and even voice data.

Market Segmentation:
Global Digital Biomarkers Market, by Application, 2023-2031 (Value US$ Mn)
• Sleep and Movement Disorders
• Cardiovascular
• Psychiatric Disorders (Mood and Behavior)
• Chronic Pain
• Neurodegenerative Diseases
• Diabetes
• Respiratory Diseases
• Others

Global Digital Biomarkers Market, by System Components, 2023-2031 (Value US$ Mn)
• Data Collection Tools
o Wearables Devices
o Implantables
o Mobile Applications
• Data Integration Software

Global Digital Biomarkers Market, by Type, 2023-2031 (Value US$ Mn)
• Clinical trials
• Clinical settings

Global Digital Biomarkers Market, by End-User, 2023-2031 (Value US$ Mn)
• Biopharmaceutical Companies
• Payers
• Providers

Global Digital Biomarkers Market, by Region, 2023-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Digital Biomarkers Market, by Country, 2023-2031 (Value US$ Mn)
• U.S.
• Canada

Europe Digital Biomarkers Market, by Country, 2023-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Digital Biomarkers Market, by Country, 2023-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Digital Biomarkers Market, by Country, 2023-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Digital Biomarkers Market, by Country, 2023-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Digital Biomarkers Market
 To receive an industry overview and future trends of the Digital Biomarkers Market
 To analyze the Digital Biomarkers Market drivers and challenges
 To get information on the Digital Biomarkers Market Size (Value US$ Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Digital Biomarkers Market industry

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