PUBLISHER: The Business Research Company | PRODUCT CODE: 1619546
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619546
Digital biomarkers are objective, quantifiable physiological and behavioral data collected using digital devices such as wearables, sensors, and mobile health applications. These biomarkers help monitor and predict health outcomes, enabling more accurate and personalized medical interventions. They facilitate continuous, real-time health monitoring, leading to improved disease management and personalized care.
The main types of digital biomarkers include wearables, mobile-based applications, sensors, and others. Wearable digital biomarkers are devices such as smartwatches or fitness trackers that monitor physiological signals such as heart rate, activity levels, and sleep patterns. Clinical practices for digital biomarkers are categorized into diagnostic, monitoring, predictive, and prognostic types, with applications across oncology, metabolic diseases, neurological disorders, cardiac conditions, and more. End users of digital biomarkers include healthcare companies, healthcare providers, payers, and other stakeholders.
The digital biomarkers market research report is one of a series of new reports from the business research company that provides digital biomarkers market statistics, including digital biomarkers industry global market size, regional shares, competitors with an digital biomarkers market share, detailed digital biomarkers market segments, market trends and opportunities, and any further data you may need to thrive in the digital biomarkers industry. This digital 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 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 during the historic period can be attributed to the expansion of mobile health applications, early adoption in clinical trials, the increasing prevalence of chronic diseases, growing consumer interest in fitness and wellness, and the rise of 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 during the forecast period can be attributed to the increasing adoption of digital biomarkers by healthcare providers, the rising prevalence of chronic diseases, greater consumer awareness, and growing interest in fitness and lifestyle monitoring. Major trends expected include advancements in wearable technology, integration with artificial intelligence, collaborations and partnerships, expansion into emerging markets, and integration with electronic health records.
The increasing prevalence of chronic diseases is expected to drive the growth of the digital biomarkers market in the coming years. Chronic diseases are long-lasting health conditions that progress slowly and often persist for life. The risk of these diseases is heightened by age-related conditions such as osteoarthritis, Alzheimer's disease, and heart disease, as well as factors such as high consumption of processed foods and decreased physical activity. Digital biomarkers are crucial for monitoring health metrics and tracking disease progression in real-time, allowing for more personalized and timely interventions. For example, reports from the Centers for Disease Control and Prevention (CDC) in May 2023 revealed that deaths from heart disease and cancer reached 695,547 in 2022, an increase from 605,213 in 2021. This rise in chronic diseases is expected to boost the demand for digital biomarkers.
Leading companies in the digital biomarker market are pursuing strategic partnerships to broaden their reach and enhance their offerings. A strategic partnership involves collaboration between organizations to combine resources, expertise, and efforts to achieve shared objectives. For instance, in September 2023, ProofPilot, a US-based clinical trial automation provider, entered into a strategic partnership with Eli Lilly and Company, a US-based pharmaceutical firm. This partnership integrates Lilly's innovative Magnol.AI sensor cloud platform into ProofPilot's technology suite. Magnol.AI is designed to manage high-frequency sensor data with advanced security and ease. The collaboration aims to improve digital health research by providing real-time data science capabilities and deeper insights from sensor data, supporting clinician and patient-reported outcomes to advance digital health and biomarker research.
In November 2022, CardieX Limited, an Australia-based cardiovascular technology company, acquired Blumio for an undisclosed amount. This acquisition is intended to enhance the ability of both companies to measure blood pressure non-invasively, without traditional cuffs. CardieX seeks to expand its presence in the U.S. and global markets, focusing on the vascular biohealth sector, which includes disorders related to arterial health. Blumio is a US-based technology company specializing in digital biomarkers, including wearable cardiovascular sensors.
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
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.
The countries covered in the digital biomarkers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The digital biomarkers market consists of revenues earned by entities by providing services such as remote patient monitoring, health data analytics, disease prediction and management, and personalized medicine through the use of wearable devices, mobile health applications, and advanced sensors. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital biomarkers market also includes sales of data analytics platforms, biometric sensors, smart glasses and headsets, voice and speech analysis tools, fitness trackers, and digital health platforms. 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.
Digital 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 digital 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 digital biomarkers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The digital 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.