Digital Biomarkers Market Overview:
The Digital Biomarkers Market is valued at around USD 2,430.00 million in 2022 and is expected to reach USD 13,966.16 million by 2030, registering a CAGR of 21.9% over the forecast period.
Digital biomarkers are measurements obtained from digital platforms or devices that are objective, quantifiable, and offer insights into a person’s behaviour or health. These biomarkers come from a variety of sources, including sensors, wearable technology, smartphone apps, and other digital health tools. A broad variety of physiological, behavioural, or biometric data can be included in digital biomarkers. Heart rate, blood pressure, sleep patterns, physical activity levels, cognitive performance, speech patterns, medication adherence, and even social media activity are a few examples of digital biomarkers.
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Growth Factors:
The global market for digital biomarkers is expanding at a substantial rate thanks to the growing applications of these tools in a variety of application areas, including diabetes, respiratory conditions, cardiovascular illnesses, and sleep disorders. The cost of pharmaceuticals is rising as a result of growing spending in medication research and development. In addition, the global aging population and rising incidence of chronic illnesses are driving up demand for digital biomarkers. Chronic diseases are more common in the elderly.
The digital biomarkers fulfil the patients’ need for routine health condition monitoring and consultations. Digital biomarkers can offer individualized, cost-effective care to guarantee optimal patient care. Furthermore, the rapid expansion of the IT and telecommunications infrastructure is driving the growth of the digital biomarkers market, in addition to the growing adoption of smart digital gadgets. In the near future, it is anticipated that growing investments from both the public and private sectors in the digitalization of healthcare and the construction of smart hospitals would increase demand for digital biomarkers worldwide.
Market Segments:
On the basis of component
- Data collection tools- wearables, implantable, mobile apps
- Data integration software
- others
On the basis of application
- gastrointestinal disease
- sleep and movement disorders
- cardiovascular diseases
- psychiatric disorders
- chronic pain
- neurodegenerative disease
- diabetes
- respiratory disease
- others
On the basis of type
- Clinical trials
- Clinical settings
- Others
On the basis of end-user
- Biopharmaceutical companies
- Payers
- Providers
- Others
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The Regional Analysis of the Market
North America’s substantial investments in R&D and sophisticated, contemporary healthcare system contributed to its dominance of the worldwide digital biomarkers market. Furthermore, Europe would increase at the fastest rate during the projected decade.
Leading Companies in the Market:
- Philips
- Johnson and Johnson
- Pfizer
- GE Healthcare
- Novartis
- Apple
- Sanofi
- GlaxoSmithKline
- Bayer
- Merck
- Huma Therapeutics
- and others.
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