Digital Biomarkers Market
Digital Biomarkers Market Forecasts to 2030 - Global Analysis By Type (Sensors, Mobile Based Applications, Wearable and Other Types), Clinical Practice, Therapeutic Area, Data Collection Tool, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $3.5 BN |
|
Projected Year Value (2030) |
US $12.7 BN |
|
CAGR (2023 - 2030) |
20.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Digital Biomarkers Market is accounted for $3.5 billion in 2023 and is expected to reach $12.7 billion by 2030 growing at a CAGR of 20.3% during the forecast period. Digital biomarkers are unbiased, quantifiable measurements gathered from digital platforms or devices that offer perceptions of a person's behavior or health. These biomarkers come from many different places, including wearable technology, smartphone apps, sensors, and other digital health technologies. A wide range of physiological, behavioral, or biometric data can be included in digital biomarkers.
According to Parkinson's Foundation, in 2022, nearly 90,000 people were reported to have been diagnosed with Parkinson’s disease in the U.S. each year.
Market Dynamics:
Driver:
Increasing the digitization of healthcare
Medical research, diagnostics, and therapies have all been transformed by rising levels of digitization in the healthcare sector. Digital biomarkers are data that consumers directly collect about their own health or illness management using digital health technology in order to clarify, affect, and/or anticipate results in the area of their health. Additionally, the use of digital biomarkers can help patients' health because they are becoming more and more essential in diagnoses and prognostics.
Restraint:
Concerns about data security
Data security issues are an additional factor that's hampering the global market for digital biomarkers. One of the biggest issues facing the sector is security and privacy hazards because of the nature of data and its susceptibility to hacker assaults and data theft. However, digital therapeutic products and services are susceptible to external interference, signal faults, and transmission failures. Critical patient data could be lost as a result of this. The development of the global market for digital biomarkers is then anticipated to be hampered by this.
Opportunity:
Increased use of wearables
Wearable device usage is rising rapidly all across the world in conjunction with the rising public awareness of health, fitness, and overall well-being, particularly in the wake of COVID-19. Wearable health monitoring technology aids in tracking the wearer's health information. Additionally, the demand for digital biomarkers has also expanded as a result of the market leaders' introduction of user-friendly, cutting-edge wearables to monitor vital signs. Over the projection period, this tendency is anticipated to continue, creating opportunity for the market expansion.
Threat:
High capital expenditures
The discovery, development, and/or validation of biomarkers require a significant revenue expenditure. However, a significant amount of capital is needed to conduct clinical trials and adhere to strict regulatory standards, which has a negative impact on innovation and the capabilities of small businesses globally. These elements are hindering market growth.
Covid-19 Impact:
Digital indicators that would make it easier to remotely screen and diagnose COVID-19 people impacted by the current pandemic situation are being sought after by medical specialists. 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. Due to the severe hardship caused by the COVID-19 outbreak, governmental entities have indicated interest in developing digital biomarker-based medications.
The neurological disorders segment is expected to be the largest during the forecast period
Neurological Disorders segment is expected to be the largest during the forecast period. The development and application of digital biomarkers to monitor, identify, and manage a variety of neurological illnesses is the primary emphasis of the neurological disorders area of the global market for digital biomarkers. Additionally, these biomarkers are used in this section to monitor the development and symptoms of diseases like Alzheimer's, Parkinson's, epilepsy, multiple sclerosis, and more. Healthcare providers can acquire real-time insights into neurological illnesses by continually monitoring patients' physiological and behavioral data, enabling early intervention and individualized treatment strategies.
The pain management segment is expected to have the highest CAGR during the forecast period
Pain Management segment is expected to have the highest CAGR during the forecast period. Utilizing digital health technologies to monitor, evaluate, and treat diseases associated with chronic pain is the focus of this section of the market. Additionally, digital biomarkers, which are gathered through wearable technology, mobile applications, and remote monitoring systems, offer unbiased and ongoing information on pain level, duration, and patient response to various therapies. These biomarkers provide a more specialized and accurate approach to pain management, assisting patients and healthcare professionals in better comprehending and treating chronic pain.
Region with largest share:
Due to its sizable and diverse population, expanding healthcare system, and rising smartphone and wearable device penetration, the Asia-Pacific region is expected to hold the largest share over the forecast period. Moreover, this region offers significant opportunities for the adoption of digital biomarkers. Chronic diseases like diabetes, heart disease, and cancer are becoming more prevalent in the Asia-Pacific area.
Region with highest CAGR:
Asia Pacific region is estimated to witness highest CAGR. The region's numerous healthcare infrastructure and technology investments are fostering the development of digital health solutions. Furthermore, the demand for digital biomarkers is being further increased by governments and private businesses that are supporting telemedicine, wearable technologies, and digital health initiatives.
Key players in the market
Some of the key players in Digital Biomarkers market include Orthofix Abbott, ActiGraph LLC, Adherium Limited, AliveCor, Inc, Alphabet, Inc, Altoida Inc., Amgen Inc., Aural Analytic, Bayer AG, Biogen Inc., Empatica Inc., Evidation Health, Inc, Feel Therapeutics , Fitbit, Inc, GlaxoSmithKline Plc, Happify Health, Kinsa Inc., Koneksa , Medopad Ltd, Mindstrong Health, Neurotrack Technologies, Inc., Novartis International AG, Pfizer Inc, Sanofi S.A, Sonde Health, Inc., Verily Life Sciences and Vivo Sense.
Key Developments:
In January 2023, Koneksa announced the launch of a clinical study comparing the treatment effect between at-home mobile Spirometry using digital biomarkers and in-clinic Spirometry in patients with moderate asthma on long-acting beta-agonist (LABA) treatment.
In January 2023, Aculys Pharma, Inc. and Four H, Inc. announced the research collaboration using wearable devices to help individuals with narcolepsy and excessive daytime sleepiness associated with obstructive sleep apnea syndrome (OSAS).
Types Covered:
• Sensors
• Mobile Based Applications
• Wearable
• Other Types
Clinical Practices Covered:
• Predictive and Prognostic Digital Biomarkers
• Monitoring Digital Biomarkers
• Diagnostic Digital Biomarkers
• Other Clinical Practices
Therapeutic Areas Covered:
• Neurological Disorders
• Sleep & Movement Disease
• Psychiatric Disorders
• Respiratory Disorders
• Cardiovascular and Metabolic Disorders
• Musculoskeletal Disorders
• Other Therapeutic Areas
Data Collection Tools Covered:
• Data Integration
• Desktop Based Software
• Other Data Collection Tools
Applications Covered:
• Mood and Behavior
• Pain Management
• Neurodegenerative Disorders
• Other Applications
End Users Covered:
• Diabetes
• Healthcare Providers
• Biopharmaceutical Companies
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Digital Biomarkers Market, By Type
5.1 Introduction
5.2 Sensors
5.3 Mobile Based Applications
5.4 Wearable
5.5 Other Types
6 Global Digital Biomarkers Market, By Clinical Practice
6.1 Introduction
6.2 Predictive and Prognostic Digital Biomarkers
6.3 Monitoring Digital Biomarkers
6.4 Diagnostic Digital Biomarkers
6.5 Other Clinical Practices
7 Global Digital Biomarkers Market, By Therapeutic Area
7.1 Introduction
7.2 Neurological Disorders
7.3 Sleep & Movement Disease
7.4 Psychiatric Disorders
7.5 Respiratory Disorders
7.6 Cardiovascular and Metabolic Disorders
7.7 Musculoskeletal Disorders
7.8 Other Therapeutic Areas
8 Global Digital Biomarkers Market, By Data Collection Tool
8.1 Introduction
8.2 Data Integration
8.3 Desktop Based Software
8.4 Other Data Collection Tools
9 Global Digital Biomarkers Market, By Application
9.1 Introduction
9.2 Mood and Behavior
9.3 Pain Management
9.4 Neurodegenerative Disorders
9.5 Other Applications
10 Global Digital Biomarkers Market, By End User
10.1 Introduction
10.2 Diabetes
10.3 Healthcare Providers
10.4 Biopharmaceutical Companies
10.5 Other End Users
11 Global Digital Biomarkers Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Abbott
13.2 ActiGraph LLC
13.3 Adherium Limited
13.4 AliveCor, Inc
13.5 Alphabet, Inc
13.6 Altoida Inc.
13.7 Amgen Inc.
13.8 Aural Analytic
13.9 Bayer AG
13.10 Biogen Inc.
13.11 Empatica Inc.
13.12 Evidation Health, Inc
13.13 Feel Therapeutics
13.14 Fitbit, Inc
13.15 GlaxoSmithKline Plc
13.16 Happify Health
13.17 Kinsa Inc.
13.18 Koneksa
13.19 Medopad Ltd
13.20 Mindstrong Health
13.21 Neurotrack Technologies, Inc.
13.22 Novartis International AG
13.23 Pfizer Inc
13.24 Sanofi S.A
13.25 Sonde Health, Inc.
13.26 Verily Life Sciences
13.27 Vivo Sense
List of Tables
1 Global Digital Biomarkers Market Outlook, By Region (2021-2030) ($MN)
2 Global Digital Biomarkers Market Outlook, By Type (2021-2030) ($MN)
3 Global Digital Biomarkers Market Outlook, By Sensors (2021-2030) ($MN)
4 Global Digital Biomarkers Market Outlook, By Mobile Based Applications (2021-2030) ($MN)
5 Global Digital Biomarkers Market Outlook, By Wearable (2021-2030) ($MN)
6 Global Digital Biomarkers Market Outlook, By Other Types (2021-2030) ($MN)
7 Global Digital Biomarkers Market Outlook, By Clinical Practice (2021-2030) ($MN)
8 Global Digital Biomarkers Market Outlook, By Predictive and Prognostic Digital Biomarkers (2021-2030) ($MN)
9 Global Digital Biomarkers Market Outlook, By Monitoring Digital Biomarkers (2021-2030) ($MN)
10 Global Digital Biomarkers Market Outlook, By Diagnostic Digital Biomarkers (2021-2030) ($MN)
11 Global Digital Biomarkers Market Outlook, By Other Clinical Practices (2021-2030) ($MN)
12 Global Digital Biomarkers Market Outlook, By Therapeutic Area (2021-2030) ($MN)
13 Global Digital Biomarkers Market Outlook, By Neurological Disorders (2021-2030) ($MN)
14 Global Digital Biomarkers Market Outlook, By Sleep & Movement Disease (2021-2030) ($MN)
15 Global Digital Biomarkers Market Outlook, By Psychiatric Disorders (2021-2030) ($MN)
16 Global Digital Biomarkers Market Outlook, By Respiratory Disorders (2021-2030) ($MN)
17 Global Digital Biomarkers Market Outlook, By Cardiovascular and Metabolic Disorders (2021-2030) ($MN)
18 Global Digital Biomarkers Market Outlook, By Musculoskeletal Disorders (2021-2030) ($MN)
19 Global Digital Biomarkers Market Outlook, By Other Therapeutic Areas (2021-2030) ($MN)
20 Global Digital Biomarkers Market Outlook, By Data Collection Tool (2021-2030) ($MN)
21 Global Digital Biomarkers Market Outlook, By Data Integration (2021-2030) ($MN)
22 Global Digital Biomarkers Market Outlook, By Desktop Based Software (2021-2030) ($MN)
23 Global Digital Biomarkers Market Outlook, By Other Data Collection Tools (2021-2030) ($MN)
24 Global Digital Biomarkers Market Outlook, By Application (2021-2030) ($MN)
25 Global Digital Biomarkers Market Outlook, By Mood and Behavior (2021-2030) ($MN)
26 Global Digital Biomarkers Market Outlook, By Pain Management (2021-2030) ($MN)
27 Global Digital Biomarkers Market Outlook, By Neurodegenerative Disorders (2021-2030) ($MN)
28 Global Digital Biomarkers Market Outlook, By Other Applications (2021-2030) ($MN)
29 Global Digital Biomarkers Market Outlook, By End User (2021-2030) ($MN)
30 Global Digital Biomarkers Market Outlook, By Diabetes (2021-2030) ($MN)
31 Global Digital Biomarkers Market Outlook, By Healthcare Providers (2021-2030) ($MN)
32 Global Digital Biomarkers Market Outlook, By Biopharmaceutical Companies (2021-2030) ($MN)
33 Global Digital Biomarkers Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
List of Figures
Figure 1 Global Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 2 North America Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 3 US Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 4 Canada Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 6 Europe Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 7 Germany Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 8 UK Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 9 Italy Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 10 France Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 11 Spain Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 14 Japan Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 15 China Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 16 India Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 17 Australia Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 21 South America Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 24 Chile Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 28 UAE Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Digital Biomarkers Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Digital Biomarkers Market Outlook (2021-2030) ($MN)
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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