The Global Digital Biomarkers Market is expected to be valued at USD 10.38 Billion in 2027 from USD 727.8 Million in 2019, registering a CAGR of 39.2% through the estimated period. Owing to the rapidly growing medical cases of various chronic diseases, the market is experiencing exponential growth in recent years. The chronic diseases’ burden is likely to expand by 57.0% in 2020 from the year 2001, as per the World Health Organization (WHO). Developing nations are contributing to nearly 60% of the overall chronic diseases cases.
Rising healthcare expenditure, and growing R&D spending in healthcare are significantly impacting the industry’s growth. The U.S healthcare expenditure has reached a valuation of USD 3.60 trillion 2018, with the increase of 4.6% from the last years, due to the rising spending in healthcare around the globe.
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Key Highlights from The Report
- In September 2020, a leading firm, Koneksa, involved in the implementation and development of several patient-centric digital biomarkers to be used in the process of drug manufacturing, announced their completion of funding, valued USD 16.0 Million. Koneska targets the deployment of funds in the integration of smart wearables and various other technologies in clinical research through the expansion of their digital platform.
- The low cost and the enhanced scalability of advanced biomarkers integrated with smartphones aid in facilitating formerly inaccessible behavioral, social, environmental, and psychological data.
- Recent approaches in psychiatric assessment are consuming considerable time for evaluation and resource-intensive. The development of digital biomarkers is considered for holding huge prospects in allowing scalable, time-sensitive, and affordable psychiatric diagnosis and symptom changes assessment.
- North America accounted for a substantial industry share in 2019, due to high proliferation of wearable devices and smartphones, along with rising incidences of different lifestyle-related diseases, persuading consumers for monitoring their crucial signs to gain a better insight into patient’s health conditions.
- Major participants in the sector are Bayer AG, AliveCor Inc., Evidation Health Inc., Fitbit Inc., Happify Health, Neurotrack Technologies Inc., Novartis International AG, Koninklijke Philips NV, GlaxoSmithKline Inc., and F. Hoffmann-La Roche Ltd.
Emergen Research has segmented the global digital biomarkers market on the basis of system component, therapeutic area, end-user, and region:
System Component Outlook (Revenue, USD Billion; 2017-2027)
- Data Collection Tools
- Digital Platforms
- Mobile Apps
- Desktop-Based Software
- Data Integration Systems
Therapeutic Area Outlook (Revenue, USD Billion; 2017-2027)
- Cardiovascular Disease
- Sleep and Movement Disease
- Neurodegenerative Disorders
- Psychiatric Disorder
- Gastrointestinal Disease
- Respiratory Disease
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Pharmaceutical Companies
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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