Digital Biomarkers Market Size, Industry Analysis Report By Component (Data collection tools, Data integration software), By Application (gastrointestinal disease, sleep and movement disorders, cardiovascular diseases, psychiatric disorders, chronic pain, neurodegenerative disease, diabetes, respiratory disease), By Type (Clinical trials, Clinical settings), By End-User (Biopharmaceutical companies, Payers, Providers) & Region – Forecast
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 250
- CATEGORY
- Healthcare & Life Sciences
The Digital Biomarkers Market is valued at around USD 2,430.00 million in 2022 and is expected to reach USD 13,966.16 million by 2030, registering a CAGR of 21.9% over the forecast period. A novel technique for gathering measurable physiological and behavioural data from gadgets like smartphones, tablets, wearable tech like Fitbits, and more is the use of digital biomarkers. Digital biomarkers are useful for monitoring, predicting, and advancing health.
The Digital Biomarkers Market - Growth Factor
Additionally, it is anticipated that new product releases and FDA clearance, both of which will fuel market expansion, would result in a growth in the market for digital biomarkers. With the long-awaited approval, patients and their doctors will be able to learn more about their hearts, including how to recognise particular arrhythmias that act as early indicators of cardiovascular disease. The market expansion for digital biomarkers will be significantly accelerated by this trend. The market for healthcare firms is expected to grow over the projected period as a result of the increase in finance and investment activities to expedite research on digital biomarkers. Additionally, a number of health technology companies have contributed their digital biomarker technologies to help stop the Covid-19 outbreak; as a result of this investment, the market is expected to expand over the course of the projected period.
The Digital Biomarkers Market – Market Trends
• Diagnostic digital biomarkers had the biggest revenue share in the clinical practise segment in 2021 as a result of the expanding usage of diagnostic monitoring intended for clinical disease and daily living.
• Additionally, during the projected period, monitoring digital biomarkers is expected to experience the fastest revenue increase.
• Due to the introduction of innovative, cutting-edge wearable smart watches and other devices, wearable had a revenue share of more than 39.0% in the digital biomarker type sector in 2021.
• Because smartphones are so widely used, it is predicted that over the projected period, revenue share growth for mobile-based applications would occur at the fastest rate. Increased use of sensors and new technologies will also face fierce competition during the anticipated period.
• The market is also predicted to expand significantly over the course of the forecast year as a result of the rising incidence of neurodegenerative disorders and chronic illnesses, as well as the expanding demand for better drug development to effectively manage these illnesses. Digital biomarkers hasten the discovery of novel pharmaceuticals more quickly than the traditional clinical trial approach.
The Digital Biomarkers Market – Segmentation
The Digital Biomarkers Market fragrance concentrates market has been sub-classified into component, application, end-user.
On the basis of component, the Digital Biomarkers Market is bifurcated into:
• Data collection tools- wearables, implantable, mobile apps
• Data integration software
• others
On the basis of application, the market is segmented into:
• gastrointestinal disease
• sleep and movement disorders
• cardiovascular diseases
• psychiatric disorders
• chronic pain
• neurodegenerative disease
• diabetes
• respiratory disease
• others
On the basis of type, the market segmented into:
• Clinical trials
• Clinical settings
• Others
On the basis of end-user, the market segmented into:
• Biopharmaceutical companies
• Payers
• Providers
• Others
The Digital Biomarkers Market –Regional Analysis
North America dominated the global Digital Biomarkers Market, due to its extensive investment in R&D activities and well-established modern healthcare infrastructure. Additionally, during the anticipated period, Europe would experience the fastest pace of growth.
The Digital Biomarkers Market – Key Market players
Global key players of Digital Biomarkers Market include Philips, Johnson and Johnson, Pfizer, GE Healthcare, Novartis, Apple, Sanofi, GlaxoSmithKline, Bayer, Merck, Abbott Laboratories, Asahi Kasei, Biogen, Koneksa Health, Roche, Huma Therapeutics, and others.
Report scope
Global Digital Biomarkers Market: Historical Years- 2018-2021
Global Digital Biomarkers Market: Forecast Years- 2022-2030
Global Digital Biomarkers Market 2022- USD 10,334.6 million
Global Digital Biomarkers Market 2030- USD 13,966.16 million
Global Digital Biomarkers Market CAGR- 21.9%
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