Digital Biomarkers Market Size, Share, Growth Analysis, By Type(Wearable, Mobile based Applications, Sensors, and Others), By Clinical Practice(Diagnostic digital biomarkers, Monitoring digital biomarkers, Predictive and Prognostic digital biomarkers, Other's (Safety), By Therapeutic Area(Cardiovascular and metabolic disorders (CVMD), Respiratory disorders, Psychiatric disorders, Sleep & Movement Disease), By End-Use(Healthcare companies, Healthcare Providers, Payers, and Others (Patient), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35G2218 | Region: Global | Published Date: April, 2024
Pages: 219 |Tables: 128 |Figures: 77

Digital Biomarkers Market Insights

Global Digital Biomarkers Market size was valued at around USD 2.96 billion in 2022 and is expected to rise from USD 3.61 billion in 2023 to reach a value of USD 17.59 billion by 2031, at a CAGR of 21.9 % over the forecast period (2024–2031).

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 - 2024–2031

Global Market Size

USD 2.96 billion

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 (%)

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Digital Biomarkers Market Segmental Analysis

The Biomarker Market boasts a multifaceted segmentation, dissecting the industry across various aspects. Products and services range from consumable test kits to software analysis tools. Biomarkers themselves are classified by function, targeting safety, efficacy, or prediction of treatment response. Research areas like genomics and technologies like PCR and mass spectrometry are further considered. Specific disease areas like cancer and applications in drug discovery or personalized medicine are also part of the segmentation scheme. Finally, the market is segmented by end users, from pharmaceutical companies to research institutions, and geographically across continents with breakdowns for major countries. 

Digital Biomarkers Market Analysis by Technology  

Based on the technology, the biomarkers market has been segmented into immunoassays (western blot, ELISA, and protein microarray), NGS, PCR, mass spectrometry, chromatography, and other technologies. In 2023, immunoassays accounted for the largest share of the biomarkers market. This is attributed to the growing need for immunoassays during the drug development process, as drug development puts much pressure on costs and sample usage. 

Digital Biomarkers Market Analysis by Application 

Based on the application, the biomarkers market has been segmented into clinical diagnostics, drug discovery & development, personalized medicine, clinical research, and other applications. In 2023, the clinical diagnostic segment accounted for the largest market share and is expected to achieve the highest CAGR during the projected period. The key drivers of clinical diagnostics in the biomarkers market include the use of biomarkers for disease detection, diagnosis, prognosis, and monitoring of therapeutic responses in clinical settings. 

Digital Biomarkers Market Analysis by Region 

Geographically, the biomarkers market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America held the dominant share, followed by Europe. North America has been a leader in supporting research for the development of novel drugs. Thus, the development of novel therapies and a growing number of clinical trials in the region are contributing to the growth of the North American biomarkers market. 

Global Digital Biomarkers Market By Therapeutic Area, 2022 (%)

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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
  • Largest
  • Fastest

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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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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

  • ActiGraph LLC
  • 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 March 2024, Koneksa, a healthcare technology company specializing in evidence-based digital biomarkers, revealed that Merck, known as MSD outside of the United States and Canada, has joined its Data Syndication Partnership program for the LEARNS observational study. This study aims to create digital biomarkers in neurodegenerative disorders using smartphone-based assessments and wearable technologies. As a participant in the program, Merck researchers will have immediate access to data and findings from the ongoing study. 
  • In March 2024, a top medical technology company called Indivi, based in Basel, Switzerland, teamed up with Biogen to improve digital health tools for Parkinson's disease. As part of this collaboration, Biogen agreed to let Indivi use their KonectomTM platform. KonectomTM is a smartphone app that tracks neurological functions from a distance, allowing for more accurate and frequent monitoring of how Parkinson's disease progresses. 
  • In February 2024, Lifespan Sports Medicine Center Clinic LLC (Lifespan), a top provider of sports medicine and wellness services in the UAE, has partnered with Healthspan Digital Inc, a Canadian HealthTech company. Together, they're introducing a new program called Healthspan, which is all about helping people live longer, healthier lives. This program will offer memberships and focus on preventive care, tailored fitness plans, and strategies for healthy aging. Their goal is to change how people think about staying healthy and promote longevity through personalized approaches.

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.

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 2022 USD 2.96 billion
Market size value in 2031 USD 17.59 billion
Growth Rate 21.9%
Base year 2023
Forecast period 2024–2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Wearable, Mobile based Applications, Sensors, and Others
  • Clinical Practice
    • Diagnostic digital biomarkers, Monitoring digital biomarkers, Predictive and Prognostic digital biomarkers, Other's (Safety, Pharmacodynamics/ Response, Susceptibility)
  • Therapeutic Area
    • Cardiovascular and metabolic disorders (CVMD), Respiratory disorders, Psychiatric disorders, Sleep & Movement Disease, Neurological disorders, Musculoskeletal disorders, and Others (Diabetes, Pain Management)
  • End-Use
    • Healthcare companies, Healthcare Providers, Payers, and Others (Patient, caregivers)
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
  • ActiGraph LLC
  • 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)
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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 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
  • 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 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
  • 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
  • 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(%)

Methodology

For the 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 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 Digital Biomarkers Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the 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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FAQs

Global Digital Biomarkers Market size was valued at around USD 2.96 billion in 2022 and is expected to rise from USD 3.61 billion in 2023 to reach a value of USD 17.59 billion by 2031, at a CAGR of 21.9 % over the forecast period (2024–2031).

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. 'ActiGraph LLC', 'AliveCor Inc.', 'Koneksa', '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)'

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.

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.

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.

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