PUBLISHER: The Business Research Company | PRODUCT CODE: 1546627
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546627
Vocal biomarkers are quantifiable characteristics of speech that offer insights into an individual's health and overall condition. These markers are derived from analyzing vocal elements such as pitch, tone, rhythm, volume, and speech patterns. They serve purposes such as detecting, monitoring, and predicting various health issues such as mental health disorders, neurological conditions, and respiratory ailments.
The primary categories of vocal biomarkers include frequency, amplitude, error rate, vocal rise or fall time, phonation time, voice tremor, pitch, and others. Frequency in vocal biomarkers indicates the rate of vibration in sound waves, providing valuable information about a person's health and emotional state. These biomarkers find application across a wide range of conditions including psychiatric disorders, neurological disorders, respiratory issues, cardiovascular conditions, traumatic brain injury (TBI), and others. They serve diverse populations including children, infants, and adults, and are utilized by hospitals, clinics, academic institutions, research centers, and other entities.
The vocal biomarkers market research report is one of a series of new reports from The Business Research Company that provides vocal biomarkers market statistics, including vocal biomarkers industry global market size, regional shares, competitors with a vocal biomarkers market share, detailed vocal biomarkers market segments, market trends and opportunities, and any further data you may need to thrive in the vocal biomarkers industry. This vocal biomarkers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The vocal biomarkers market size has grown rapidly in recent years. It will grow from $2.4 billion in 2023 to $2.84 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. During the historic period, growth was driven by the imperative for early disease detection, applications of vocal biomarkers in lie detection, demand from the defense sector, rising mental health disorders, and increasing prevalence of chronic diseases such as cardiovascular ailments.
The vocal biomarkers market size is expected to see exponential growth in the next few years. It will grow to $5.63 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. In the forecast period, growth will be fueled by escalating cases of neurological and psychological disorders, a surge in demand for innovative diagnostic methods, rising prevalence of dementia, growing recognition of vocal biomarkers' efficacy, and expanding diagnostic procedures. Key trends expected in this period include advancements in biomarker technology, rapid adoption of cutting-edge technologies, substantial investments in research and development (R&D), enhancements in diagnostic capabilities, and technological advancements in the medical field.
The voice biomarkers market is anticipated to grow due to increasing occurrences of neurological and psychological disorders. Neurological disorders affect the nervous system, while psychological disorders impact mood, thinking, and behavior. Factors contributing to the rise in these disorders include heightened stress, aging populations, lifestyle changes, and improved awareness and diagnostic capabilities. Voice biomarkers are used to detect and monitor disease-specific changes in speech patterns, pitch, and rhythm non-invasively, offering insights into the progression and presence of these conditions. For example, as of April 2024, over 6 million Americans aged 65 and older are living with Alzheimer's disease, a number projected to surpass 13 million by 2060, according to data from alzheimers.gov, a US-based Department of Health and Human Services (HHS). Additionally, between August 2020 and February 2021, the percentage of adults in the US experiencing symptoms of anxiety or depressive disorders rose from 36.4% to 41.5%, according to the Centers for Disease Control and Prevention. Thus, the increasing prevalence of neurological and psychological disorders is fueling the expansion of the voice biomarkers market.
Major companies in the vocal biomarkers market are prioritizing the development of advanced technologies such as voice-enabled systems. These innovations aim to enhance diagnostic precision, improve patient monitoring, and enable early detection of various medical conditions. Voice-enabled technology also aims to help individuals better understand their mental well-being and encourage proactive engagement with mental health services. For example, in October 2021, Sonde Health Inc., a US-based health technology firm, introduced Sonde Mental Fitness, a voice-enabled technology for mental health detection and monitoring. This technology analyzes vocal characteristics such as smoothness, control, liveliness, energy range, and clarity to identify changes that may indicate conditions such as depression, stress, anxiety, and fatigue. This highlights the company's leadership in the vocal biomarker sector and underscores the expanding potential of voice-based technologies in revolutionizing health monitoring and management, especially in mental health.
In January 2023, Cambridge Cognition Ltd., a UK-based neuroscience technology company, completed the acquisition of Winterlight Labs for approximately $0.008.6 million. This strategic move consolidates Cambridge Cognition's leadership in the vocal biomarker market, positioning the company to capitalize on substantial growth opportunities. The acquisition enables Cambridge Cognition to offer a comprehensive range of voice-based solutions for clinical research and healthcare applications. Winterlight Labs, based in Canada, specializes in developing vocal biomarkers used to assess cognitive and mental health conditions.
Major companies operating in the vocal biomarkers market are Hitachi Ltd., International Business Machines Corporation, Synaptics Inc., Nuance Communications, Veritone Inc., Axios Pro, Cogito Corporation, Boston Technology Corporation, Cambridge Cognition Ltd., ConversationHealth, Beyond Verbal, AudEERING, EVOCAL Health, Sonde Health Inc., Kintsugi Health, Ellipsis Health, Canary Speech, Vocalis Health, Puretech Health, Neurotrack Technologies Inc
North America was the largest region in the vocal biomarkers market in 2023. The regions covered in the vocal biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the vocal biomarkers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vocal biomarkers market consists of revenues earned by entities by providing services such as diagnostic and monitoring services and data analysis services. The market value includes the value of related goods sold by the service provider or included within the service offering. The vocal biomarkers market also includes sales of specialized recording devices, sensors, and integrated systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Vocal Biomarkers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vocal biomarkers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vocal biomarkers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vocal biomarkers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.