Digital Biomarkers Market Forecasts to 2030 - Global Analysis By Type (Sensors, Mobile Based Applications, Wearable and Other Types), Clinical Practice, Therapeutic Area, Data Collection Tool, Application, End User and By Geography

According to Stratistics MRC, the Global Digital Biomarkers Market is accounted for $3.5 billion in 2023 and is expected to reach $12.7 billion by 2030 growing at a CAGR of 20.3% during the forecast period. Digital biomarkers are unbiased, quantifiable measurements gathered from digital platforms or devices that offer perceptions of a person's behavior or health. These biomarkers come from many different places, including wearable technology, smartphone apps, sensors, and other digital health technologies. A wide range of physiological, behavioral, or biometric data can be included in digital biomarkers.

According to Parkinson's Foundation, in 2022, nearly 90,000 people were reported to have been diagnosed with Parkinson's disease in the U.S. each year.

Market Dynamics:

Driver:

Increasing the digitization of healthcare

Medical research, diagnostics, and therapies have all been transformed by rising levels of digitization in the healthcare sector. Digital biomarkers are data that consumers directly collect about their own health or illness management using digital health technology in order to clarify, affect, and/or anticipate results in the area of their health. Additionally, the use of digital biomarkers can help patients' health because they are becoming more and more essential in diagnoses and prognostics.

Restraint:

Concerns about data security

Data security issues are an additional factor that's hampering the global market for digital biomarkers. One of the biggest issues facing the sector is security and privacy hazards because of the nature of data and its susceptibility to hacker assaults and data theft. However, digital therapeutic products and services are susceptible to external interference, signal faults, and transmission failures. Critical patient data could be lost as a result of this. The development of the global market for digital biomarkers is then anticipated to be hampered by this.

Opportunity:

Increased use of wearables

Wearable device usage is rising rapidly all across the world in conjunction with the rising public awareness of health, fitness, and overall well-being, particularly in the wake of COVID-19. Wearable health monitoring technology aids in tracking the wearer's health information. Additionally, the demand for digital biomarkers has also expanded as a result of the market leaders' introduction of user-friendly, cutting-edge wearables to monitor vital signs. Over the projection period, this tendency is anticipated to continue, creating opportunity for the market expansion.

Threat:

High capital expenditures

The discovery, development, and/or validation of biomarkers require a significant revenue expenditure. However, a significant amount of capital is needed to conduct clinical trials and adhere to strict regulatory standards, which has a negative impact on innovation and the capabilities of small businesses globally. These elements are hindering market growth.

COVID-19 Impact:

Digital indicators that would make it easier to remotely screen and diagnose COVID-19 people impacted by the current pandemic situation are being sought after by medical specialists. Additionally, a number of health technology companies have contributed their digital biomarker technologies to help stop the COVID-19 outbreak. As a result of this investment, the market is expected to expand over the course of the projected period. Due to the severe hardship caused by the COVID-19 outbreak, governmental entities have indicated interest in developing digital biomarker-based medications.

The neurological disorders segment is expected to be the largest during the forecast period

Neurological Disorders segment is expected to be the largest during the forecast period. The development and application of digital biomarkers to monitor, identify, and manage a variety of neurological illnesses is the primary emphasis of the neurological disorders area of the global market for digital biomarkers. Additionally, these biomarkers are used in this section to monitor the development and symptoms of diseases like Alzheimer's, Parkinson's, epilepsy, multiple sclerosis, and more. Healthcare providers can acquire real-time insights into neurological illnesses by continually monitoring patients' physiological and behavioral data, enabling early intervention and individualized treatment strategies.

The pain management segment is expected to have the highest CAGR during the forecast period

Pain Management segment is expected to have the highest CAGR during the forecast period. Utilizing digital health technologies to monitor, evaluate, and treat diseases associated with chronic pain is the focus of this section of the market. Additionally, digital biomarkers, which are gathered through wearable technology, mobile applications, and remote monitoring systems, offer unbiased and ongoing information on pain level, duration, and patient response to various therapies. These biomarkers provide a more specialized and accurate approach to pain management, assisting patients and healthcare professionals in better comprehending and treating chronic pain.

Region with largest share:

Due to its sizable and diverse population, expanding healthcare system, and rising smartphone and wearable device penetration, the Asia-Pacific region is expected to hold the largest share over the forecast period. Moreover, this region offers significant opportunities for the adoption of digital biomarkers. Chronic diseases like diabetes, heart disease, and cancer are becoming more prevalent in the Asia-Pacific area.

Region with highest CAGR:

Asia Pacific region is estimated to witness highest CAGR. The region's numerous healthcare infrastructure and technology investments are fostering the development of digital health solutions. Furthermore, the demand for digital biomarkers is being further increased by governments and private businesses that are supporting telemedicine, wearable technologies, and digital health initiatives.

Key players in the market:

Some of the key players in Digital Biomarkers market include: Orthofix Abbott, ActiGraph LLC, Adherium Limited, AliveCor, Inc, Alphabet, Inc, Altoida Inc., Amgen Inc., Aural Analytic, Bayer AG, Biogen Inc., Empatica Inc., Evidation Health, Inc, Feel Therapeutics , Fitbit, Inc, GlaxoSmithKline Plc, Happify Health, Kinsa Inc., Koneksa , Medopad Ltd, Mindstrong Health, Neurotrack Technologies, Inc., Novartis International AG, Pfizer Inc, Sanofi S.A, Sonde Health, Inc., Verily Life Sciences and Vivo Sense.

Key Developments:

In January 2023, Koneksa announced the launch of a clinical study comparing the treatment effect between at-home mobile Spirometry using digital biomarkers and in-clinic Spirometry in patients with moderate asthma on long-acting beta-agonist (LABA) treatment.

In January 2023, Aculys Pharma, Inc. and Four H, Inc. announced the research collaboration using wearable devices to help individuals with narcolepsy and excessive daytime sleepiness associated with obstructive sleep apnea syndrome (OSAS).

Types Covered:

• Sensors
• Mobile Based Applications
• Wearable
• Other Types

Clinical Practices Covered:

• Predictive and Prognostic Digital Biomarkers
• Monitoring Digital Biomarkers
• Diagnostic Digital Biomarkers
• Other Clinical Practices

Therapeutic Areas Covered:

• Neurological Disorders
• Sleep & Movement Disease
• Psychiatric Disorders
• Respiratory Disorders
• Cardiovascular and Metabolic Disorders
• Musculoskeletal Disorders
• Other Therapeutic Areas

Data Collection Tools Covered:

• Data Integration
• Desktop Based Software
• Other Data Collection Tools

Applications Covered:

• Mood and Behavior
• Pain Management
• Neurodegenerative Disorders
• Other Applications

End Users Covered:

• Diabetes
• Healthcare Providers
• Biopharmaceutical Companies
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances