The global digital biomarkers market is projected to be worth USD 10.38 Billion by 2027, according to a current analysis by Emergen Research. The digital biomarkers market is observing rapid growth attributed to the growing incidence of chronic diseases. The swiftly growing burden of chronic diseases across the globe are fueling the market growth. According to the statics released by WHO (World Health Organization), the burden of chronic diseases is projected to grow by 57.0% by the year 2020 from 2001. Developing nations are expected to be highly impacted, contributing to 60.0% of the global burden of chronic diseases.
The detailed market intelligence report on the digital biomarkers market applies the best of both primary and secondary research to weighs upon the competitive landscape and the prominent market players expected to dominate the digital biomarkers market for the forecast period, 2020 - 2027. The study not only scans through the company profile of the major vendors but also analyses their winning strategies to give business owners, stakeholders and field marketing personnel a competitive edge over others operating in the same space. A detailed evaluation of the major events such as acquisition and mergers, collaborations, product launches, new entrants, and technology advancements offer a complete overview of what the future of the digital biomarkers market will be like in the years to come.
An increase in healthcare expenditure and increased funding for healthcare R&D are significantly driving the digital biomarkers' market growth. The healthcare expenditure in the US reached USD 3.60 trillion in 2018, an increase of 4.6% from the previous years. This rise in spending is, to some extent, faster as compared to the increase in 2017 from 2016.
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Key Highlights From The Report
In September 2020, Koneksa, a firm engaged in the development and implementation of patient-specific digital biomarkers for use in the drug development process, declared the completion of Series B funding round worth USD 16.0 Million. Koneska intends to deploy the fund for the integration of wearables and other patient-specific technologies into clinical research by expanding its digital platform.
The low cost and improved scalability of digital biomarkers based on smartphone apps help in facilitating a prospective wealth of social, behavioral, psychological, and environmental data that were formerly inaccessible.
Recent psychiatric assessment approaches are resource-intensive and consume substantial time for evaluation. Digital biomarkers development is considered to hod immense prospects in allowing time-sensitive, scalable, and affordable assessment of symptom changes and psychiatric diagnosis.
North America held a significant digital biomarker market share in 2091 attributed to the high penetration of smartphones and wearable devices, along with the growing prevalence of lifestyle-related diseases, which, in turn, persuades consumers to monitor their vital signs for a better insight into health conditions.
Key participants include AliveCor Inc., Bayer AG, Evidation Health Inc., Fitbit Inc., Happify Health, Koninklijke Philips NV, Neurotrack Technologies Inc., GlaxoSmithKline Inc., Novartis International AG, and F. Hoffmann-La Roche Ltd., among others.
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System Component Outlook (Revenue, USD Billion; 2017-2027)
Data Collection Tools
Digital Platforms
Mobile Apps
Desktop-Based Software
Wearable
Biosensors
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
Diabetes
Others
End-Users Outlook (Revenue, USD Billion; 2017-2027)
Pharmaceutical Companies
Providers
Payers
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
Table of Content
Chapter 1. Methodology & Sources
1.1. Digital Biomarkers Market Definition
1.2. Digital Biomarkers Market Research Scope
1.3. Digital Biomarkers Market Methodology
1.4. Digital Biomarkers Market Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Digital Biomarkers Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Digital Biomarkers Market Segmentation & Impact Analysis
Continued…
