Dublin, May 20, 2022 /PRNewswire/—— “Global Digital Biomarkers Market – Global and Regional Analysis: Focus on System Components, Type, Application, End User, Regional and Country Analysis – Analysis and Forecast, 2022-2028” report added to ResearchAndMarkets.com’s supply.
The Global Digital Biomarkers Market report highlights that the market value is $1,808.3 million In 2021, it is expected to reach $16.174 billion by 2028. The market is expected to grow at a CAGR of 36.06% during the forecast period of 2022-2028.
Global Digital Biomarkers Market Drivers
Traditional chronic disease diagnoses are very subjective and based on a series of visits. As a result, drug development decisions are based on limited subjective evidence, resulting in unsuccessful large-scale phase 3 trials of the drug. Digital biomarkers can predict drug efficacy more rapidly than traditional clinical endpoints, thereby accelerating product development in certain therapeutic areas. In addition, advancements in digital biomarker technology, such as voice-based digital biomarkers, mobile medical applications, and adoption of smart wearable devices, are gaining popularity.
Furthermore, as the prevalence and incidence of chronic diseases rise, so will the adoption of technology. As a result, disease diagnosis will become more common and the global market for digital biomarkers will expand. The government invests heavily in health insurance to reduce overall health care costs and improve quality of life and affordability of treatment.
Global Digital Biomarkers Market Restraints
Factors restraining the growth of the global digital biomarker devices market include risks related to return on investment (RoI) and lack of standardized and interoperable solutions. Additionally, there are particular concerns about the increased risk of medical errors and violations of patient privacy when digital health devices are used in place of traditional methods.
Global Digital Biomarkers Market Opportunities
High growth opportunities in emerging economies and the rise of local companies Asia Pacific and middle East and Africa The digital biomarker market has huge growth potential. In the age of machine learning (ML) and artificial intelligence (AI), the extraction of quantitative digital biomarkers that aid in disease detection, characterization, monitoring, and assessment of treatment response is becoming increasingly popular.
Impact of COVID-19 on the Global Digital Biomarkers Market
The COVID-19 pandemic has had a devastating impact on the global healthcare ecosystem. Hospitals and clinics face challenges such as lack of resources, large influx of patients, and risk of infection among care providers. The market is expected to witness considerable growth during the forecast period of 2022-2028. Increasing innovation and product design in the global market and increasing usage in emerging economies are the driving factors for the market growth.
Global Digital Biomarkers Market by System Component
The global digital biomarker market based on system component product type has been segmented into data collection tools and data integration software. Data collection tools have been further segmented into wearables, implantables and mobile applications.
Global Digital Biomarkers Market by Type
The global digital biomarker market based on product type has been segmented into clinical trials and clinical settings.
Global Digital Biomarkers Market by Application
The global digital biomarkers market, based on application, has been segmented into gastrointestinal disorders, sleep and movement disorders, cardiovascular, psychiatric disorders (mood and behavior), neurodegenerative disorders, diabetes, respiratory disorders, and others.
Global Digital Biomarkers Market by End User
The global digital biomarker market based on end-user has been segmented into biopharmaceutical companies, suppliers, and payers.
Global Digital Biomarkers Market by Region
The different regions covered by the global digital biomarkers market include North America, Europe, Asia Pacific, Latin Americaand the rest of the world.
North America It is expected to be the most lucrative region in the global digital biomarker market owing to advanced medical infrastructure and high focus on R&D activities.this Asia Pacific The digital biomarker market is one of the lucrative markets and the major players in the global digital biomarker market have huge potential for expansion.this Asia Pacific The digital biomarker market is expected to grow at the fastest rate over the forecast period. This can be attributed to the large geriatric population base, which is driving the increase in the number of digital biomarkers.
Key Market Players and Competitive Summary
Some of the key players in the market include AliveCor, Inc., Pear Therapeutics Inc., Abbott, Akili Interactive Labs, Inc., Koninklijke Phillips NV, Huma, Koneksa Health, Alphabet Inc. and Neurotrack Technologies, Inc.
Some of the strategies covered in this section include financing activities, mergers and acquisitions, partnerships, alliances, business expansion, regulatory and legal activities, and new products and upgrades.
Key questions answered in the report
- How does COVID-19 impact the growth of the global digital biomarkers market?
- What are the key regulations governing the digital biomarkers market in key regions?
- Which technological developments are expected to have the greatest impact on the global digital biomarkers market?
- Who are the key players that are prominently dominant in the global digital biomarkers market?
- What growth opportunities can market players take advantage of?
- What are the drivers and restraints of the global digital biomarkers market?
- Which region has the highest growth rate for the digital biomarker market?
- Which countries are growing the fastest in terms of the global digital biomarker market?
- What are the key strategies being employed by market players in the global digital biomarkers market?
Key topics covered:
1.1 Market Outlook
1.1.1 Product Definition
126.96.36.199 Data collection tools
188.8.131.52.3 Mobile Apps
184.108.40.206 Data Integration Software
1.1.2 Inclusion and exclusion criteria
1.1.3 Main findings
1.1.4 Global Market Scenario
220.127.116.11 Realistic Growth Scenario
18.104.22.168 Optimistic Growth Scenario
22.214.171.124 Pessimistic/Conservative Growth Scenario
1.2 Overview of Global Digital Biomarkers Market
1.2.1 Status Quo of Digital Biomarkers
1.2.2 Types of biomarkers
126.96.36.199 Biotechnology/Life Sciences
188.8.131.52 Medical Devices
184.108.40.206 Application Providers
1.2.4 Clinical trials (clinical research institutions)
220.127.116.11 Technology Providers
1.2.5 Digital Biomarker Ecosystem
18.104.22.168 Wearable Devices
22.214.171.124 Implantable components/sensors
126.96.36.199 Eye Devices
188.8.131.52 Smart Home System/Internet of Things
184.108.40.206 AR/VR Platform
220.127.116.11 Desktop/Web Application
1.2.6 Data Measurement
18.104.22.168 Physiological parameters
22.214.171.124 Behavioral parameters
1.3 Industry Outlook
1.3.1 Technology Landscape
126.96.36.199 Artificial Intelligence and Machine Learning
188.8.131.52 Augmented Reality (AR) and Virtual Reality (VR)
184.108.40.206 Edge Computing
220.127.116.11 Cloud Computing
1.3.2 Main Trends
1.3.3 Opportunity Assessment
18.104.22.168 Short-term growth potential
22.214.171.124 Long-term growth potential
1.3.4 Product benchmarking
1.3.5 Patent Analysis
126.96.36.199 Expected Technology Development
188.8.131.52 Growth trend of patent disclosure
184.108.40.206 Patent Analysis by Country/Cluster
1.3.6 Case studies: key therapeutic areas
220.127.116.11 Cardiovascular disease
18.104.22.168 Parkinson’s disease
22.214.171.124 Alzheimer’s disease
1.4 Impact of COVID-19
1.4.1 Impact on digital biomarkers
1.4.2 Impact on Device Adoption
1.4.3 Impact on market size
126.96.36.199 Pre-COVID-19 Phase
188.8.131.52.1 Global and Regional Analysis
184.108.40.206 During the COVID-19 phase
220.127.116.11.1 Global and Regional Analysis
18.104.22.168 Post-COVID-19 Phase
1.5 Business Dynamics
1.5.1 Impact Analysis
1.5.2 Business Drivers
22.214.171.124 The Growing Popularity of Digital Biomarkers in Drug Development
126.96.36.199 Rising Employment of Vocal Digital Biomarkers
188.8.131.52 Increasing Use of Wearables and Increasing Penetration of Smartphones
184.108.40.206 Regulatory flexibility for digital health solutions
220.127.116.11 Failure of Neurodegenerative Disease Drugs
1.5.3 Business Challenges
18.104.22.168 The need for standardized and interoperable solutions
22.214.171.124 Inaccurate data measurement
126.96.36.199 Lack of integration and interoperability between medical records and user-generated data
188.8.131.52 Lack of use cases for return on investment (ROI) analysis
1.5.4 Business Opportunities
184.108.40.206 Digital Biomarkers: The Future of Precision Medicine
220.127.116.11 Early detection of neurological disorders using digital biomarkers
18.104.22.168 Raise awareness of general health management
22.214.171.124 Surging Demand for Metabolic, Cardiovascular and Gastrointestinal Health Care
126.96.36.199 Digital biomarkers in female, maternal, pre-pregnancy and newborn care
188.8.131.52 Assessing the increase in lung health using digital biomarkers
2 Global Digital Biomarkers Market by Application
2.1 Opportunity Assessment
2.2 Growth Share Matrix
2.3 Gastrointestinal diseases
2.4 Sleep and movement disorders
2.6 Mental illness (emotional and behavioural)
2.7 Chronic pain
2.8 Neurodegenerative Diseases
2.1 Respiratory diseases
3 Global Digital Biomarkers Market by End User
3.1 Opportunity Assessment
3.2 Growth Share Matrix
3.3 Biopharmaceutical companies
4 Global Digital Biomarkers Market by System Components
4.1 Opportunity Assessment
4.2 Market Share Analysis
4.3 Growth Share Matrix
4.4 Data collection tools
4.4.1 Wearable Devices
184.108.40.206 Evolution of Wearables in Clinical Trials
220.127.116.11 Wearable devices in clinical trials
18.104.22.168 Activity recorder
22.214.171.124 Opportunities for digital biomarkers
126.96.36.199 New Development
188.8.131.52 Market estimates and forecasts
184.108.40.206 Opportunities for digital biomarkers
220.127.116.11 New Development
18.104.22.168 Market estimates and forecasts
4.4.3 Mobile Apps
22.214.171.124 Opportunities for digital biomarkers
126.96.36.199 New Development
188.8.131.52 Market estimates and forecasts
4.5 Data Integration Software
4.5.1 Opportunities for Digital Biomarkers
4.5.2 New Development
4.5.3 Market estimates and forecasts
5 Global Digital Biomarkers Market by Type
5.1 Opportunity Assessment
5.2 Market Share Analysis
5.3 Growth Share Matrix
5.4 Clinical trials
5.5 Clinical settings
7 Market Company Profiles and Competitive Benchmarks
7.1 Competitive Landscape
7.1.1 Key Strategies and Developments
184.108.40.206 Partnerships, Alliances and Business Expansion
220.127.116.11 Funding Activities
18.104.22.168.1 New Products
22.214.171.124.2 Mergers and acquisitions
126.96.36.199.3 Regulatory and Legal Activities
7.2 Company Profile
For more information on this report, please visit https://www.researchandmarkets.com/r/mpopmf
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