Digital Biomarkers Market Size, Trends and Opportunities - USD 49.17 Billion by 2032 | 34.43% CAGR

Digital Biomarkers Market Overview:

Digital Biomarkers are the data used to track anatomical, psychological, and behavioral changes in the human body using various sensors, Machine Learning (ML), and Artificial Intelligence (AI) techniques, making the data accessible to the wearer and other concerned users. The digital biomarkers currently used in the healthcare industry are the primary contributors to the significant data insights currently available. They assist in analyzing existing and anticipated health conditions and adverse situations.

According to Straits Research, the global digital biomarkers market size was valued at USD 3.43 billion in 2023 and is projected to reach USD 49.17 billion by 2032, growing at a CAGR of 34.43% during the forecast period (2024-2032).

The devices are available in a variety of forms, including those that are wearable, portable, digestible, and implantable. The oxygen saturation (SpO2) monitor and the heart rate monitor are two of the most common features found in consumer wearables. These monitors are essential for tracking heart and lung biostatistics to identify and warn users of adverse reactions. According to the CDC, cardiovascular disease is the leading cause of death in the United States, accounting for more than 960,000 deaths annually. The discovery of digital biomarkers greatly assists patients with chronic diseases.

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Growing Use of Digital Biomarkers and Penetration of Wearable Devices and Smartphones Drives the Global Market

The increasing use of digital biomarkers in diabetes, respiratory diseases, cardiovascular diseases, and sleep disorders is a significant market driver. Digital technologies have led to the increased adoption of handheld and wearable digital devices, which comprise a large portion of the digital biomarker market. Health informatics is expanding the global market for digital biomarkers. Digital biomarkers provide personalized, cost-effective care. The rapid evolution of telecommunications and IT infrastructure is also driving the market for digital biomarkers. Rising government and corporate investments in healthcare digitalization and smart hospitals are expected to boost global demand for digital biomarkers.

Wearable devices are the industry's second-biggest innovation after Bluetooth headsets. Google Glass, Apple Watch, Fitbit, MotivRing, and Oculus Rift are used in healthcare. The increased prevalence of wearable devices in healthcare is due to global health self-awareness, the rise in patients, and the increased use of technology in daily life. Many Google Play and iOS apps monitor sleep, heart rate, and movement. A recent survey found that 80% of developed and 82% of developing countries use smartphones.

Technology Advancements and Growing Awareness Create Tremendous Opportunities

Due to the rapid advancement of technology, companies are developing an increasing number of digital biomarkers; consequently, it will likely become an attractive investment segment in the future. With the increasing acceptance of data and devices, an increasing number of companies are investing in the production of digital biomarkers. The Centers for Disease Control and Prevention (CDC) discovered that notifications for Atrial Fibrillation on a particular smartwatch matched a patient's actual ECG 84 percent of the time, thereby reducing the mortality risk of individuals. Consequently, smartwatches and other consumer wearables that monitor multiple physiological factors of the human body are gaining popularity.

Digital Biomarkers Market Segmentation

By Type
Data Collection Tools
Data Integration Tools

By Clinical Practice
Diagnostic
Monitoring
Prognostic
Predictive
Others

By Therapeutic Area
Cardiovascular and Metabolic Disorders
Respiratory Disorders
Neurological Disorders
Musculoskeletal Disorders
Psychiatric Disorders
Other Applications

By End-User
Pharmaceutical Companies
Healthcare Providers
Payers
Other End-Users

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Key Highlights

Based on application, the global digital biomarkers market is divided into sleep and movement, cardiovascular, mood and behavior, pain management, neurodegenerative disorders, and respiratory conditions. The cardiovascular segment is dominating the market.

Based on end-user, the global digital biomarkers market is bifurcated into biopharmaceutical companies, payers, and providers . Biopharmaceutical companies are dominating the end-user market.

The Asia-Pacific region held the largest share of the digital biomarkers market.

Competitive Players
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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Regional Analysis

The Asia-Pacific region held the largest share of the digital biomarkers market because governments emphasized improving healthcare infrastructure, the proliferation of smart devices such as smartphones, and the presence of a large pool of patients. The region held a significant share of the digital biomarker market because of North America's high penetration of smartphones and wearable devices. This can be attributed to the growing prevalence of lifestyle-related diseases, which, in turn, encourages consumers to monitor their vital signs for a better understanding of their current and future health conditions.

Recent Developments

March 2024 - The company heading LEARNS, Koneksa, stated that Merck's participation in the data syndication partnership for the study will provide its researchers with immediate and real-time access to data and results as the trial progresses. Seventy patients with Parkinson's disease are anticipated to be followed for a duration of twelve months as part of this study; enrollment is currently taking place at clinical facilities located in Florida and Michigan.

February 2024 - By securing four new agreements with leading pharmaceutical companies, Biofourmis expanded its therapeutic portfolio to include cardiovascular, pain, women's health, and immunology in addition to oncology therapies. These agreements underscore Biofourmis' proficiency in the development of digital biomarkers and its all-encompassing clinical trial solutions, which are independent of devices and locations.

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List of Related Reports:

Biomarkers Market Size: https://straitsresearch.com/report/biomarkers-market

Cardiac Biomarkers Market Size: https://straitsresearch.com/report/cardiac-biomarkers-market

Neurological Biomarkers Market size: https://straitsresearch.com/report/neurological-biomarkers-market

Renal Biomarkers Market Size: https://straitsresearch.com/report/renal-biomarkers-market

Pediatric Cancer Biomarkers Market Size: https://straitsresearch.com/report/pediatric-cancer-biomarkers-market

Cancer Biomarker Market Size: https://straitsresearch.com/report/cancer-biomarker-market

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