Digital Biomarkers Market - Forecasts from 2023 to 2028

The digital biomarkers market is estimated to grow at a CAGR of 9.22% during the forecast period.

The digital biomarkers market growth is expanding as wearable devices, mobile health applications, and solutions for remote patient monitoring emerge. Continuous, non-invasive monitoring of vital signs, activity levels, sleep patterns, and other health-related factors is provided by these technologies, which generate a wealth of data that can be analyzed to provide useful insights. As the healthcare industry embraces digital transformation, it is anticipated that the digital biomarkers market size will expand significantly. Digital biomarkers' value and usability will rise as a result of the application of advanced analytics, AI, and machine learning algorithms. This will open up new opportunities for disease prevention, individualized treatment, and improved patient outcomes.

Market Drivers:

Increasing Adoption of Wearable Devices and Mobile Health Applications:

The digital biomarkers market is moving forward as wearable devices and mobile health apps are becoming more and more popular. Users can use these technologies to measure vital signs, collect data on a variety of health metrics, and keep track of their health in an easy-to-use manner. Digital biomarkers can now be created and used in a more personalized and precise manner thanks to the growing use of wearables and mobile applications.

Remote Patient Monitoring Solutions are in High Demand:

The digital biomarkers market is experiencing significant expansion as a result of the rising demand for remote patient monitoring solutions. Healthcare professionals can remotely monitor their patient's health status, collect real-time data, and identify potential issues with remote patient monitoring. This demand is being driven by the need for healthcare delivery that is both efficient and cost-effective, particularly for patients who have chronic conditions or who require continuous monitoring.

Collaborations and alliances between healthcare organizations and technology firms:

The digital biomarkers market is expected to show positive growth as a result of numerous collaborations between technology companies and healthcare organizations. Innovative solutions and the successful application of digital biomarkers in healthcare settings are made possible by these collaborations, which combine clinical expertise with technological advancements.

Expansion of Digital Infrastructure and Connectivity:

The expansion of digital infrastructure and connectivity is necessary for the digital biomarkers market to expand. Digital biomarkers can now be seamlessly integrated into healthcare systems owing to the widespread adoption of the internet, advancements in telecommunications, and the introduction of 5G networks. All of these factors have increased access to data collection, storage, and analysis.

North America is anticipated to account for a significant market share.

The North America will hold a considerable market share which is attributable to the region's sophisticated healthcare infrastructure and significant investments in digital health technology. Likewise, the presence of significant pharmaceutical conglomerates and technological giants in the region encourages collaboration and innovation in the development of digital biomarkers. Furthermore, digital biomarkers market growth is fuelled by favorable government initiatives and policies. Lastly, North America's dominance in the digital biomarkers market share is aided by the region's rapid adoption of wearable devices, mobile health applications, and remote patient monitoring solutions.

Key Players in the Digital Biomarkers Market:

• Biofourmis: Utilizing wearable technology and artificial intelligence, the comprehensive digital therapeutics platform known as Biofourmis collects and analyses health data generated by patients. For managing chronic conditions and providing post-acute care, some of their options include personalized insights, predictive analytics, and remote monitoring.
• Evidation Health: Evidation Health is a company that works on digital biomarker creation and validation by analyzing real-world data from digital devices. The technology they use collects and analyses data from a variety of sources, making it possible to create and evaluate new biomarkers for a wide range of diseases.
• Empatica: Smartwatches and wristbands made by Empatica are examples of wearable devices that measure a variety of physiological characteristics. They can find digital biomarkers for conditions like stress and epilepsy thanks to the data they collect from their devices about heart rate, electrodermal activity, and activity levels.

Key Developments:

• In March 2023, A new cooperation agreement was announced between Chugai Pharmaceutical Co., Ltd. and Biofourmis, a global leader in technology-enabled care delivery, for ongoing research and the practical application of digital technologies to objectively assess endometriosis patients' pain. 10% of all women of reproductive age are affected by endometriosis, and 70% of those women suffer from chronic pelvic discomfort, affecting their quality of life.
• In January 2023, A partnership between the Duke University BIG IDEAs Lab and Evidation was formed to increase diversity and inclusion in digital health research by building an analytic structure that would provide better health analysis in everyday life.

Segmentation

BY TYPE

• Mobile Health Apps
• Wearable Devices
• Others

BY THERAPEUTIC AREA

• Cardiovascular Disorders
• Neurological Disorders
• Respiratory Disorders
• Metabolic Disorders
• Others

BY END-USER

• Pharmaceutical Companies
• Healthcare Providers
• Research Organizations
• Others

BY GEOGRAPHY

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Taiwan
• Others