USD 2.43 billion
Global Digital Biomarkers Market Size, Share, Growth Analysis, By Type(Wearable, Mobile based Applications), By Clinical Practice(Diagnostic digital biomarkers, Monitoring digital biomarkers), By Therapeutic Area(Cardiovascular and metabolic disorders (CVMD), Respiratory disorders), By End-Use(Healthcare companies, Healthcare Providers) - Industry Forecast 2023-2030
Report ID: SQMIG35G2218 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 128 | Figures: 77
Global Digital Biomarkers Market Insights
Digital Biomarkers Market size was valued at around USD 2.43 billion in 2021 and is expected to rise from USD 2.96 billion in 2022 to reach a value of USD 14.44 Billion by 2030, at a CAGR of 21.9 % over the forecast period (2022–2030).
The market is anticipated to expand as a result of the quick uptake of health-related mobile applications and connected digital devices, rising smartphone usage, the introduction of new wearables, and expanding applications in therapeutic areas. This long-awaited approval is making it possible for patients and their doctors to have a deeper understanding of their hearts, including awareness of particular arrhythmias that act as early indicators of cardiovascular disease. The market for digital biomarkers is growing significantly faster as a result of 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 forecast period. In order to expedite the validation process, identify digital biomarkers for data points like respiratory indicators, and identify patients who are most at risk for COVID-19, for instance, Medopad is collaborating with international partners. The market is anticipated to profit from the COVID-19 situation as a result.
Furthermore, digital biomarkers go far beyond smartwatches and activity trackers. Some major pharmaceutical companies have partnered with innovative digital health start-ups in order to accelerate the adoption of this technology and improve new solutions in the field of digital biomarkers, which is expected to drive market expansion.
Due to the severe hardship caused by the Covid-19 outbreak, government organizations have expressed interest in developing digital biomarker-based medications.
Although there are many advantages to digital biomarkers, some obstacles to their development and use are anticipated to restrain market growth. There are issues with data privacy, reliability, data validation, and a lack of open-source data among them. Nevertheless, during the forecast period, it is anticipated that increasing competition and increased use of these systems will overcome this obstacle.
US Digital Biomarkers Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2022–2030
Global Market Size
Largest Segment
Cardiovascular and Metabolic Disorders
Fastest Growth
Cardiovascular and Metabolic Disorders
Growth Rate
21.9% CAGR
Global Digital Biomarkers Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Digital Biomarkers Market By Therapeutic Area, 2022-2030 ($ Bn)
Global Digital Biomarkers Market By Therapeutic Area, 2022-2030 (%)
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Global Digital Biomarkers Market Segmental Analysis
The global digital biomarkers market is segmented based on type, clinical practice, therapeutic area, end-use, and region. In terms of type, the market is segmented into wearable, mobile based applications, sensors, and others. Based on clinical practice, the market is segmented into diagnostic digital biomarkers, monitoring digital biomarkers, predictive, and prognostic digital biomarkers, and others (safety, pharma co-dynamics/ response, susceptibility). Further categorization of therapeutic areas includes cardiovascular and metabolic disorders (CVMD), respiratory disorders, psychiatric disorders, sleep & movement disease, neurological disorders, musculoskeletal disorders, and others (diabetes, pain management). Further categorization of the end-use category includes healthcare companies, healthcare providers, payers, others (patient, caregivers). Regionwise, the global digital biomarkers market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Digital Biomarkers Market Analysis by Clinical Practice
Diagnostic digital biomarkers segment held the largest market share of more than 30% in 2022 due to the rising use of connected digital devices and health-related mobile applications for the diagnosis and monitoring of measurements used for a variety of disease categories, including cardiovascular diseases, mental health issues, neurological diseases, and diabetes. In light of this, it is anticipated that digital biomarkers will be crucial in future diagnostic and therapeutic operations for a range of illness states.
The fastest share during the anticipated period was monitoring digital biomarkers. This increase was ascribed to increasing investments in wearable technologies and smartwatches, which would make access to health-related data simpler and more precise. In addition, biopharmaceutical companies' wearables are improving internal processes by knowing patient biometrics and functioning from tracking, heart rate, sleep, and disease-specific biometrics including monitoring, electro-stimulation, and sweat analysis. It is believed that this will fuel market expansion.
Digital Biomarkers Market Analysis by Therapeutic Area
The cardiovascular diseases category currently holds the largest market share in the global market for digital biomarkers due to the rising number of therapeutic applications and the fact that cardiovascular disease is the leading cause of death worldwide despite being a condition that is easily treatable. Biofourmis, which is about to commercialize its BioVitalsHF digital treatment for heart failure, has gained unicorn status after raising USD 300 million in series-D funding and is anticipated to profit from the market's expansion.
Global Digital Biomarkers Market By Therapeutic Area, 2022 (%), 2021 (%)
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Global Digital Biomarkers Market Regional Insights
North America dominated the market and held a revenue share of over 59.0% in 2022, which can be attributed to the region's enhanced awareness of the efficacy of digital biomarkers as well as the region's substantial number of key market players, significant product launches, increase in investment in research and development, and growing acceptance of smart devices. A few other key factors for this area to forecast market expansion include the increasing number of initiatives to improve healthcare IT and the existence of healthcare programmers. Additionally, it is anticipated that the market in North America will be driven by the strategic initiatives of the region's market participants and significant R&D expenditure.
The fastest growth in the digital biomarker market is anticipated in Europe, where a growing number of chronically ill patients are driving demand for real-time monitoring and disease diagnosis. Additionally, during the forecast period, market expansion is being fueled by developed healthcare infrastructure in European countries and a strong emphasis on R&D activities, which is anticipated to propel market expansion.
Global Digital Biomarkers Market By Geography, 2022-2030, 2022–2030
- Largest
- Fastest
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Global Digital Biomarkers Market Dynamics
Digital Biomarkers Market Drivers
Increasing Prevalence of Chronic Diseases
- The rising incidence of chronic diseases such as diabetes, cardiovascular diseases, and cancer is driving the demand for digital biomarkers, as they can help in early detection and management of these conditions.
Digital Biomarkers Market Restraints
- Regulatory challenges: The lack of clear regulatory guidelines for digital biomarkers is hindering the growth of this market, as it creates uncertainty for investors and manufacturers.
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Global Digital Biomarkers Market Competitive Landscape
The nature of the global digital biomarkers market is characterized by intense competition and rapid technological advancements. Companies operating in this market are focusing on product innovation, partnerships, collaborations, and mergers and acquisitions to gain a competitive edge. Companies are investing in R&D to develop new and innovative products that offer advanced features and capabilities.
Digital Biomarkers Market Top Player’s Company Profiles
- AliveCor Inc.
- Altoida Inc.
- Amgen Inc.
- Biogen Inc.
- Empatica Inc.
- Vivo Sense
- IXICO plc
- Adherium Limited
- Neurotrack Technologies, Inc.
- Aural Analytic
- Huma
- Sonde Health, Inc.
- Clario
- Imagene AI
- Brainomix
- Kinsa Inc.
- Feel Therapeutics
- ResApp (Pfizer)
Digital Biomarkers Market Recent Developments
- In October 2021, BioBeats announced the launch of its digital mental health platform, which uses AI and machine learning to provide personalized mental health support.
- In November 2021, Cardiogram announced a partnership with LifeScan to develop a digital biomarker for diabetes management.
Global Digital Biomarkers Key Market Trends
- Wearables and mobile health apps: Wearables and mobile health apps are becoming increasingly popular among consumers and healthcare providers, as they enable continuous and remote monitoring of patients. This trend is driving the growth of the digital biomarkers market, as these devices generate a large amount of data that can be used to develop digital biomarkers.
- Personalized medicine: Personalized medicine is gaining momentum, and digital biomarkers are playing a crucial role in this area by providing patient-specific data that can be used to develop targeted therapies. The growing focus on personalized medicine is driving the demand for digital biomarkers, as they enable precision medicine approaches.
- Artificial intelligence and machine learning: Artificial intelligence (AI) and machine learning (ML) are being increasingly used in the digital biomarkers market to analyze and interpret large amounts of data. AI and ML algorithms can identify patterns and trends in the data, enabling healthcare providers to make more informed decisions.
- Regulatory clearances: Regulatory clearances for digital biomarkers are increasing, with several products receiving FDA clearance in recent years. This is a positive sign for the growth and adoption of digital biomarkers in the healthcare industry, as it creates a more favorable regulatory environment for manufacturers and investors.
Global Digital Biomarkers Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global digital biomarkers market analysis, we found that the market is anticipated to expand as a result of the quick uptake of health-related mobile applications and connected digital devices, rising smartphone usage, the introduction of new wearables, and expanding applications in therapeutic areas. This long-awaited approval is making it possible for patients and their doctors to have a deeper understanding of their hearts, including awareness of particular arrhythmias that act as early indicators of cardiovascular disease. The market for digital biomarkers is growing significantly faster as a result of 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.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 2.43 billion |
| Market size value in 2030 | USD 14.44 Billion |
| Growth Rate | 21.9% |
| Base year | 2021 |
| Forecast period | 2022–2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Digital Biomarkers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Digital Biomarkers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Digital Biomarkers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Digital Biomarkers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Digital Biomarkers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Digital Biomarkers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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