Digital Biomarkers Market Poised for Exponential Growth to reach US$ 31.2 billion by 2032 as Cutting-Edge Technology Takes Center Stage - By PMI

Covina, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Digital biomarkers are driven by the growing need for smartphone-compatible and wireless medical equipment, as well as technological advancements in devices. Demand for wearable medical devices such as sensors, ECG devices, and smart watches with fitness trackers has increased because these devices are simple to use and easy to interpret. As a result, the user can keep track of his or her health condition by monitoring vital signs without having to visit clinics or hospitals on a regular basis. Digital biomarkers, such as wearable medical gadgets with this capability, are predicted to gain popularity among the elderly population.

Growing partnerships and collaborations with various research organizations for developing digital biomarkers for new testing strategies have propelled the market's growth. Applications in diagnostic sectors have dominated the market. However, the application of biomarkers in the drug development process, or personalized medicine, is expected to grow significantly over the forecast period.

The report “Digital Biomarkers Market, By Type (Sensors, Wearable, Mobile based Applications, and Others), By Clinical Practice (Monitoring digital biomarkers, Diagnostic digital biomarkers, Predictive & Prognosis digital biomarkers, and Others), By Therapeutic Area (Neurological disorders, Cardiovascular diseases, Sleep & Movement disease, Diabetes, Respiratory disorders, and Others), By End-Users (Healthcare Providers, Payers, Biopharmaceutical Companies, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

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Key Highlights:

• Biogen launched a groundbreaking study in January 2021 to develop digital biomarkers of cognitive health using the Apple Watch and iPhone. Cognitive health is the ability to think clearly, to learn, and to remember to perform daily activities.
• Fitbit launched three new wearables in August 2020, including Fitbit Sense, a smartwatch with an electrodermal activity sensor and a comprehensive stress management solution, a compatible ECG app with new metrics such as oxygen saturation and skin temperature, and a six-month Fitbit premium trial. Versa3 is designed for workouts to keep you on track and motivate you to move. Inspire 2 includes 24/7 heart rate tracking, sleep tracking, all-day calorie burn, and swim-proof functionality.
  

Analyst View:

Adoption of digital technologies has revolutionized medical research, diagnostics, and therapeutics. A new notion, digital biomarkers, has emerged in medicine and plays a crucial role in precision medicine. Digital biomarkers are cost-effective, non-invasive, clinically meaningful, provide high-frequency data, and have the ability to reduce trial duration. Expansion of internet and mobile connectivity are all positive steps towards rapid adoption of digital health platforms all over the world.

Further, the prevalence of chronic diseases and widespread use of mobile technologies such as mobile applications, social media, wearable sensors, and location tracking technologies are expected to accelerate the emergence of this market.

Research into digital biomarkers is expected to skyrocket in the coming years, resulting in market growth.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Digital Biomarkers Market, By Type (Sensors, Wearable, Mobile based Applications, and Others), By Clinical Practice (Monitoring digital biomarkers, Diagnostic digital biomarkers, Predictive & Prognosis digital biomarkers, and Others), By Therapeutic Area (Neurological disorders, Cardiovascular diseases, Sleep & Movement disease, Diabetes, Respiratory disorders, and Others), By End-Users (Healthcare Providers, Payers, Biopharmaceutical Companies, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

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Key Market Insights from the report:

Digital Biomarkers Market accounted for US$ 3.1 billion in 2022 and is estimated to be US$ 31.2 billion by 2032 and is anticipated to register a CAGR of 31.2%. The Digital Biomarkers Market is segmented based on Type, Clinical Practice, Therapeutic Area, End-Users, and Region.

• Based on Type, Digital Biomarkers Market is segmented into Sensors, Wearable, Mobile based Applications, and Others.
• Based on Clinical Practice, Digital Biomarkers Market is segmented into Monitoring digital biomarkers, Diagnostic digital biomarkers, Predictive & Prognosis digital biomarkers, and others.
• Based on Therapeutic Area, Digital Biomarkers Market is segmented into Neurological disorders, cardiovascular diseases, Sleep & Movement disease, Diabetes, Respiratory disorders, and Others.
• Based on End-Users, Digital Biomarkers Market is segmented into Healthcare Providers, Payers, Biopharmaceutical Companies, and Others.
• By Region, the Digital Biomarkers Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Digital Biomarkers Market:

The prominent players operating in the Digital Biomarkers  Market includes, 

• Koneksa
• Bayer AG
• Biogen Inc.
• Pfizer Inc.
• F. Hoffman-La Roche Ltd.
• Amgen Inc.
• AliveCor Inc.
• ActiGraph LLC.
• Altoida Inc.
• Vivo Sense

Scope of the Report: 

1. Digital Biomarkers Market, By Type
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
     • Y-o-Y Growth Analysis (%), 2022 – 2032
     • Segment Trends
   • Sensors
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Wearable
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Mobile based Applications
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Others
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
2. Digital Biomarkers Market, By Clinical Practice, 2022 – 2032, (US$ Bn)
   • Overview                                      
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
     • Y-o-Y Growth Analysis (%), 2022 – 2032
     • Segment Trends
   • Monitoring digital biomarkers
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Diagnostic digital biomarkers
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Predictive & Prognosis digital biomarkers
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Others
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
3. Digital Biomarkers Market, By Therapeutic Area, 2022 – 2032, (US$ Bn)
   • Overview                                      
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
     • Y-o-Y Growth Analysis (%), 2022 – 2032
     • Segment Trends
   • Neurological disorders
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Cardiovascular diseases
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Sleep & Movement disease
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Diabetes
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Respiratory disorders
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Others
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
4. Digital Biomarkers Market, By End-Users, 2022 – 2032, (US$ Bn)
   • Overview                                      
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
     • Y-o-Y Growth Analysis (%), 2022 – 2032
     • Segment Trends
   • Healthcare Providers
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Payers
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Biopharmaceutical Companies
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Others
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

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Potential Pointers that Digital Biomarker Report will Provide: 

1. Analysis of the market drivers, restraints, and opportunities that are likely to impact market growth.
2. Discussion of the different types of digital biomarkers and their applications in various disease areas.
3. Examination of the regulatory landscape governing digital biomarkers and the challenges facing their implementation.
4. Detailed analysis of the competitive landscape, including key players, their market share, and strategies for growth.
5. Assessment of the market segmentation, including by product type, application, end-user, and geography.
6. Forecast of the market size and growth rate for the upcoming years, including potential future trends and challenges.
7. Identification of emerging market opportunities and recommendations for strategic decision-making by stakeholders.
8. Case studies and examples of successful implementation of digital biomarkers in healthcare and their impact on patient outcomes.
9. Analysis of the future outlook for the digital biomarkers market, including potential growth areas and challenges.
10. Overview of the digital biomarkers market, including its definition, scope, and segmentation.

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