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Digital Biomarkers Market Exclusive Report on the Latest Revenue and Future Scope
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 2023-2031.
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Digital biomarkers are objective, quantifiable indicators derived from physiological and behavioral data captured through digital devices such as wearables, portable gadgets, implantable sensors, and ingestible devices. These biomarkers enable clinicians and researchers to track health status, diagnose medical conditions, monitor treatment responses, and identify potential health risks. They are generally classified into active and passive categories.
The growing use of digital biomarkers in drug development is significantly impacting market growth. Increasing adoption of technologies such as vocal biomarkers, wearable smart devices, and smartphone applications in healthcare, combined with a more flexible regulatory stance toward digital health, is propelling this market forward. The need to assess the efficacy of therapeutic products using digital health technologies (DHTs) is further expanding patient access to safe and effective treatments. Additionally, the failure of drugs for neurodegenerative disorders accelerates the demand for innovative digital biomarkers, while a rising number of product launches and regulatory approvals-particularly from the FDA-are expected to drive further market expansion.
However, the market faces several challenges. Issues such as data measurement errors, integration difficulties, and the lack of standardized solutions hinder progress. Moreover, the interoperability between medical records and user-generated data, as well as uncertainties around the return on investment (ROI) analysis, coupled with high costs, may constrain growth.
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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.
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 $6.3 million Series A round.
• In Dec 2018, Eli Lilly & Co. expanded its collaboration with Evidation Health into a multi-year project to develop digital biomarkers for disease, derived from smartphones, wearable sensors, and even voice data.
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Market Segmentation:
Global Digital Biomarkers Market, by Application, 2023-2031 (Value US$ 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
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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