by The global Digital Biomarkers Market is estimated to be valued at US$ 2.86 Bn in 2023 and is expected to exhibit a CAGR of 34.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Digital biomarkers make use of data collected through digital devices and sensors to measure disease symptoms, progression and treatment response. They help in early detection of disease conditions through remote and more frequent monitoring compared to traditional clinical tests.
Market key trends:
One of the major trends in the digital biomarkers market is the increasing use of biosensors. Biosensors are analytical devices that combine a biological component with a physicochemical detector. They help in measurement of a specific biological analyte, like lactate, glucose or DNA. Digital biosensors allow continuous and remote monitoring of vital health parameters like heart rate, blood pressure, oxygen saturation and body temperature through wearable devices. This helps in early detection of abnormal conditions and facilitates preventive healthcare management. With advancements in sensor technology, biosensors are becoming smaller, advanced and affordable which is expected to further drive their adoption in digital biomarkers over the forecast period.
Segment Analysis
The global digital biomarkers market is segmented into device type, therapeutic area and region. Based on device type, the hardware-based digital biomarkers segment dominated the market in 2022. Hardware-based digital biomarkers offers high-accuracy readings on vital health parameters such as blood pressure, heart rate, sleep cycles etc. Based on therapeutic area, the neurological disorder segment dominated the market in 2022. Digital biomarkers are increasingly adopted for early detection and management of neurological disorders such as Alzheimer’s disease, Parkinson’s disease, multiple sclerosis etc.
Key Takeaways
Global Digital Biomarkers Market Size is expected to witness high growth, exhibiting CAGR of 34% over the forecast period, due to increasing adoption of digital health technologies during the COVID-19 pandemic.
Regional analysis:
North America dominated the global market in 2022. Higher healthcare expenditures and rapid adoption of advanced digital health technologies are the major factors fueling the North America digital biomarkers market. Asia Pacific is expected to grow at the highest CAGR during the forecast period attributed to growing need for remote monitoring solutions in populous countries such as India and China.
Key players:
Key players operating in the digital biomarkers market are AliveCor Inc., Altoida Inc., Amgen Inc., Human API, Fitbit, Inc., Biogen Inc, Bayer AG, Akili Interactive Labs, Evidation Health, Inc., GlaxoSmithKline Plc, and Eli Lilly and Company, among others. AliveCor Inc. is one of the leading players offering AI-based electrocardiogram solutions for digital biomarker applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
