Vocal Biomarkers Market – Global industry insights 2024
Advancement in research has encouraged scientists and academicians to develop a technology that will diagnose and predict the health stats based on how the person talks. Growing evidence suggests that many mental and physical conditions can make one slur his/her words, speak in a more nasal tone and elongate sounds. However, it is yet not confirmed that analyzing speech patterns can generate accurate or useful diagnosis of data.
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The global vocal biomarkers market can be analyzed based on the applications and end-use.
Vocal Biomarker’s Potential Applications
Companies including – Beyond Verbal, Inc., Cogitocorp, Sharecare, Inc., IBM and Sonde Health (PureTech) have developed software that can analyze voice and indicate the presence of diseases such as coronary artery disease (CAD), depression, neurological conditions and cardiovascular diseases. Beyond Verbal, Inc., an Israel based company, is marking success through its voice analysis software, Beyond mHealth Research Platform, developed in collaboration with Mayo Clinic, which can detect the presence of CAD. Use of this software in Parkinson’s disease encouraged the company to perform tests for other diseases.
Current available techniques such as the ECG, Radionuclide testing, Exercise Tolerance Testing (ETT), and Pharmaceutical Stress Testing are expensive and involves certain contraindications (except ECG). With increasing prevalence of chronic diseases, need for low-risk, inexpensive and non-invasive screening method is rising.
Vocal Biomarker’s Potential End-Users
Vocal Biomarkers has potential end-users such as the healthcare centers, Military, Government and others. Cogitocorp has its voice analysis technology adopted by health insurers such as Blue Cross, Aetna, Humana, Partners Healthcare and Blue Shield. Use of this technology is not restricted within healthcare environment or setup. The U.S. Department of Veteran Affairs, uses the Cogito software for monitor the mood of members. Furthermore, the U.S. army collaborated with the Massachusetts Institute of Technology (MIT) in 2016 to develop a FDA approved device to detect brain injury.
Different companies targeting various underdiagnosed chronic diseases will address the unmet needs in many emerging nations by enabling healthcare access to mass population and early detection of a disorder. Companies just need to ensure that the product is compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA).
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Diagnosis of various disorders using the vocal biomarkers technology will enable early detection and preventive measures for chronic disorders. Being more of a preventive tool, this could serve the healthcare service centers, military and corporate sector to improve the health and performance. Moreover, this could be of significant advantage for patients and physicians to continuously monitor and assess the patient’s health.
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Global Vocal Biomarkers Market
The Global Vocal Biomarkers Market is estimated to be valued at US$ 6.4 million by 2017 and is projected to expand at an astounding CAGR of 65.7% from 2017 to 2028, as analyzed by Coherent Market Insights. Vocal biomarkers enabling early diagnosis and being a non-invasive procedure are analyzed to be major factor fueling uptake of this disruptive technology over the forecast period (2017–2028). Mental and physical conditions such as anxiety
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