The digital biomarkers global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Digital Biomarkers Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The digital biomarkers market size has grown exponentially in recent years. It will grow from $3.11 billion in 2023 to $3.92 billion in 2024 at a compound annual growth rate (CAGR) of 26%. The growth in the historic period can be attributed to the growth of mobile health applications, early adoption in clinical trials, the rising prevalence of chronic diseases, consumer interest in fitness and wellness, and growing healthcare digitization.
The digital biomarkers market size is expected to see exponential growth in the next few years. It will grow to $9.94 billion in 2028 at a compound annual growth rate (CAGR) of 26.2%. The growth in the forecast period can be attributed to increasing adoption by healthcare providers, rising prevalence of chronic diseases, increasing consumer awareness, growing consumer interest for fitness and lifestyle monitoring. Major trends in the forecast period include advancements in wearable technology, integration with artificial intelligence, collaborations and partnerships, expansion in emerging markets, integration with electronic health records.
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Scope Of Digital Biomarkers Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Digital Biomarkers Market Overview
Market Drivers –
The higher prevalence of chronic diseases is expected to propel the growth of the digital biomarkers market going forward. Chronic diseases are long-term health conditions that typically progress slowly and last for an extended period, often for life. The incidence of chronic diseases with age-related chronic conditions such as osteoarthritis, Alzheimer’s disease, and heart disease, along with high consumption of processed foods and reduced physical activity, increase the risk of chronic diseases. Digital biomarkers are used in chronic diseases to monitor health metrics and disease progression in real time, enabling more personalized and timely interventions. For instance, in May 2023, according to reports published by the Centers for Disease Control and Prevention (CDC.gov)., a US-based government organization, heart disease and cancer deaths totaled 6,95,547 in 2022, which is an increase from the previous year compared with 6,05,213 in 2021. Therefore, the higher prevalence of chronic diseases will propel the growth of the digital biomarker market.
Market Trends –
Major companies operating in the digital biomarker market are adopting a strategic partnership approach to expand their reach and enhance their service offerings. A strategic partnership typically refers to a collaborative relationship between two or more organizations where they combine their resources, expertise, and efforts to achieve common goals or objectives. For instance, in September 2023, ProofPilot, a US-based clinical trial automation provider, formed a strategic partnership with Eli Lilly and Company, a US-based pharmaceutical company, to integrate Lilly’s innovative, patent-pending sensor cloud platform, Magnol.AI, into ProofPilot’s technology suite. Magnol.AI is a cutting-edge platform designed to manage high-frequency sensor data with exceptional security and ease. This collaboration aims to enhance the execution of high-quality digital health research, accelerating pre-competitive biomedical studies. This integration allows researchers to utilize real-time data science capabilities and gain deep insights from sensor data, aligning with clinician and patient-reported outcomes to advance digital health and biomarker research.
The digital biomarkers market covered in this report is segmented –
1) By Type: Wearable, Mobile Based Applications, Sensors, Other Types
2) By Clinical Practice: Diagnostic Digital Biomarkers, Monitoring Digital Biomarkers, Predictive And Prognostic Digital Biomarkers, Other Clinical Practices
3) By Application: Oncology, Metabolic Disease, Neurological Disease, Cardiac Disease, Other Applications
4) By End User: Healthcare Companies, Healthcare Providers, Payers, Other End Users
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Regional Insights –
North America was the largest region in the digital biomarkers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the digital biomarkers market are Pfizer Inc., Bayer AG, F Hoffmann-La Roche Ltd., Eli Lilly and Company, Koninklijke Philips NV (Philips), GE Healthcare, Biogen Inc., Garmin Ltd., Clario, Verily Life Sciences LLC, Altoida Inc., BioSerenity, Oura Health Oy., Evidation Health Inc., AliveCor Inc., Empatica Inc., ActiGraph LLC, VivoSense Inc., BioSensics LLC, Koneksa Health Inc., ATCOR Medical Pty Ltd., Brainomix Limited
Table of Contents
- Executive Summary
- Digital Biomarkers Market Report Structure
- Digital Biomarkers Market Trends And Strategies
- Digital Biomarkers Market – Macro Economic Scenario
- Digital Biomarkers Market Size And Growth
…..
- Digital Biomarkers Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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