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
18.104.22.168 Data collection tools
22.214.171.124.3 Mobile Apps
126.96.36.199 Data Integration Software
1.1.2 Inclusion and exclusion criteria
1.1.3 Main findings
1.1.4 Global Market Scenario
188.8.131.52 Realistic Growth Scenario
184.108.40.206 Optimistic Growth Scenario
220.127.116.11 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
18.104.22.168 Biotechnology/Life Sciences
22.214.171.124 Medical Devices
126.96.36.199 Application Providers
1.2.4 Clinical trials (clinical research institutions)
188.8.131.52 Technology Providers
1.2.5 Digital Biomarker Ecosystem
184.108.40.206 Wearable Devices
220.127.116.11 Implantable components/sensors
18.104.22.168 Eye Devices
22.214.171.124 Smart Home System/Internet of Things
126.96.36.199 AR/VR Platform
188.8.131.52 Desktop/Web Application
1.2.6 Data Measurement
184.108.40.206 Physiological parameters
220.127.116.11 Behavioral parameters
1.3 Industry Outlook
1.3.1 Technology Landscape
18.104.22.168 Artificial Intelligence and Machine Learning
22.214.171.124 Augmented Reality (AR) and Virtual Reality (VR)
126.96.36.199 Edge Computing
188.8.131.52 Cloud Computing
1.3.2 Main Trends
1.3.3 Opportunity Assessment
184.108.40.206 Short-term growth potential
220.127.116.11 Long-term growth potential
1.3.4 Product benchmarking
1.3.5 Patent Analysis
18.104.22.168 Expected Technology Development
22.214.171.124 Growth trend of patent disclosure
126.96.36.199 Patent Analysis by Country/Cluster
1.3.6 Case studies: key therapeutic areas
188.8.131.52 Cardiovascular disease
184.108.40.206 Parkinson’s disease
220.127.116.11 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
18.104.22.168 Pre-COVID-19 Phase
22.214.171.124.1 Global and Regional Analysis
126.96.36.199 During the COVID-19 phase
188.8.131.52.1 Global and Regional Analysis
184.108.40.206 Post-COVID-19 Phase
1.5 Business Dynamics
1.5.1 Impact Analysis
1.5.2 Business Drivers
220.127.116.11 The Growing Popularity of Digital Biomarkers in Drug Development
18.104.22.168 Rising Employment of Vocal Digital Biomarkers
22.214.171.124 Increasing Use of Wearables and Increasing Penetration of Smartphones
126.96.36.199 Regulatory flexibility for digital health solutions
188.8.131.52 Failure of Neurodegenerative Disease Drugs
1.5.3 Business Challenges
184.108.40.206 The need for standardized and interoperable solutions
220.127.116.11 Inaccurate data measurement
18.104.22.168 Lack of integration and interoperability between medical records and user-generated data
22.214.171.124 Lack of use cases for return on investment (ROI) analysis
1.5.4 Business Opportunities
126.96.36.199 Digital Biomarkers: The Future of Precision Medicine
188.8.131.52 Early detection of neurological disorders using digital biomarkers
184.108.40.206 Raise awareness of general health management
220.127.116.11 Surging Demand for Metabolic, Cardiovascular and Gastrointestinal Health Care
18.104.22.168 Digital biomarkers in female, maternal, pre-pregnancy and newborn care
22.214.171.124 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
126.96.36.199 Evolution of Wearables in Clinical Trials
188.8.131.52 Wearable devices in clinical trials
184.108.40.206 Activity recorder
220.127.116.11 Opportunities for digital biomarkers
18.104.22.168 New Development
22.214.171.124 Market estimates and forecasts
126.96.36.199 Opportunities for digital biomarkers
188.8.131.52 New Development
184.108.40.206 Market estimates and forecasts
4.4.3 Mobile Apps
220.127.116.11 Opportunities for digital biomarkers
18.104.22.168 New Development
22.214.171.124 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
126.96.36.199 Partnerships, Alliances and Business Expansion
188.8.131.52 Funding Activities
184.108.40.206.1 New Products
220.127.116.11.2 Mergers and acquisitions
18.104.22.168.3 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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