Digital Biomarkers Market Size to Be Worth USD 10.38 Billion by 2027 | Emergen Research

Increased drug development cost is one of the significant factors influencing the digital biomarkers market growth.

Vancouver, British Columbia, Dec. 07, 2020 (GLOBE NEWSWIRE) -- The Global Digital Biomarkers Market is projected to be worth USD 10.38 Billion by 2027, according to the current analysis by Emergen Research. The digital biomarkers market is observing a rapid growth attributed to the increased drug development cost. Digital biomarkers are considered to be most beneficial for drug development in the early phases as pharmaceutical scientists need to know whether the drug is effective or not to progress to phase III trial and validate the findings. For instance, in the case of Alzheimer's and Parkinson's diseases prior to the phase III trial, the effectiveness of drugs can't be determined that resulted in certain high profile, cost-prohibitive failures responsible for losses of millions of dollars by pharmaceutical firms in the drug development process.

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 Key Highlights From The Report

  • In October 2020, Medidata, a firm engaged in clinical trial data and life science technology, made an announcement about the acquisition of the digital biomarker business of MC10, a sensor making company. The acquisition is expected to incorporate clinical-grade metrics into the remote trial platform in a better way and largely support wearable sensors' usage for clinical research.
  • Biosensors held a significant digital biomarkers market share in 2019 due to its ability to evaluate health status, the onset and advancement of diseases, and health conditioning monitoring using a non-invasive approach in healthcare research.
  • Application of digital biomarker of diabetes therapeutics help in the detection of disease by easy identification of individuals at risk from confirmatory diagnostic testing deploying hemoglobin A1c data.
  • Factors comprising well-resourced operating & surgical rooms, the presence of highly skilled healthcare professionals, higher purchasing power, and enhanced health coverage for healthcare services from various plans for private and group insurance, among others, account for a significant market share.
  • The market in the Asia Pacific region held the largest digital biomarkers market share in 2019 due to the growing government emphasis on improving healthcare infrastructure, proliferation usage of smart devices, such as smartphones, and the presence of a large pool of patients.
  • Key participants include AliveCor Inc., Bayer AG, Evidation Health Inc., Fitbit Inc., Happify Health, Koninklijke Philips NV, Neurotrack Technologies Inc., GlaxoSmithKline Inc., Novartis International AG, and F. Hoffmann-La Roche Ltd. 

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Emergen Research has segmented the Global Digital Biomarkers Market on the basis of system component, therapeutic area, end-user, and region:

  • System Component Outlook (Revenue, USD Billion; 2017-2027)
    • Data Collection Tools
      1. Digital Platforms
      2. Mobile Apps
      3. Desktop-Based Software
      4. Wearable
      5. Biosensors
    • Data Integration Systems
  • Therapeutic Area Outlook (Revenue, USD Billion; 2017-2027)
    • Cardiovascular Disease
    • Sleep and Movement Disease
    • Neurodegenerative Disorders
    • Psychiatric  Disorder
    • Gastrointestinal Disease
    • Respiratory Disease
    • Diabetes
    • Others
  • End-User Outlook (Revenue, USD Billion; 2017-2027)
    • Pharmaceutical Companies
    • Providers
    • Payers

To identify the key trends in the industry and read full summary click on the link:

  • Regional Outlook (Revenue, USD Billion; 2017-2027)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. U.K.
      3. France
      4. BENELUX
      5. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. U.A.E.
      3. Rest of MEA

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