Report Ocean recently released a research report on the Digital Biomarkers Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global digital biomarkers market size was US$ 818 million in 2021. The global digital biomarkers market is forecast to grow to US$ 15521 million by 2030, registering a compound annual growth rate (CAGR) of 38.9% during the forecast period from 2022 to 2030. A digital biomarker is used to capture the anatomical, physiological, and pathological features of the patient.
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COVID-19 Impact Analysis
The COVID-19 pandemic escalated the demand for digital biomarkers as it helps in screening and diagnosis. Moreover, digital biomarkers helped doctors to carry out the data remotely. Thus, the demand for digital biomarkers grew suddenly. Moreover, its features like connectivity to phones are forecast to propel the market growth during the study period.
Factors Influencing
- The growing evolution of information technology has created various opportunities for the market players. Moreover, the rising demand for efficient solutions to reduce healthcare costs is forecast to benefit the market.
- The increasing number of chronically ill patients is rising the demand for efficient treatments and technologies. As a result, it would fuel the demand for digital biomarkers.
- The growing use of smart devices and the trending connectivity of healthcare devices are forecast to propel market growth. Smartwatches are used to monitor the heart rate and other conditions of the user. Moreover, the growing trend of smart devices will boost the growth of the global digital biomarkers market.
- Moreover, the increasing number of product launches, rising number of Food and Drug Administration (FDA) approvals are forecast to propel the market growth. In 2019, FDA granted approval to KardiaMobile, by AliveCor. It is an AI-enabled wearable device that monitors the vital signs connected to heart arrhythmias.
- Growing cases of psychological issues would benefit the global digital biomarkers market.
- The high cost of digital biomarkers may hamper the growth of the market.
- The growing adoption of personalized medicine and the introduction of voice-based digital biomarkers are forecast to gain rapid popularity in the coming years.
Geographic Analysis
North America is forecast to hold the highest share in the global digital biomarkers market. The presence of leading industry players is expected to contribute to the regional development in the global digital biomarkers market.
Increasing investment in R&D and product launches are forecast to benefit the global digital biomarkers market.
The Asia Pacific is forecast to grow significantly, owing to the increasing digitalization in the healthcare sector. Moreover, rising government emphasis on developing healthcare infrastructure, growing demand for efficient smartphones, wearable devices, and trending e-healthcare in the region are forecast to contribute to the market growth. In addition, the increasing prevalence of diseases would ultimately increase the demand for digital biomarkers.
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Competitors in the Market
- AliveCor Labs
- Eli Lilly and Company
- Biogen
- Novartis AG
- Fitbit LLC
- GlaxoSmithKline plc
- F. Hoffmann-La Roche Ltd
- Koninklijke Philips N.V.
- Pfizer Inc.
- Takeda Pharmaceutical Company Limited.
- Other prominent players
Market Segmentation
By End-user
- Biopharmaceutical companies
- Payers & Providers
By Application
- Pain management
- Neurodegenerative disorders
- Respiratory conditions
- Cardiovascular diseases
- Mood and behavior
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
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- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Digital Biomarkers Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Digital Biomarkers market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Digital Biomarkers Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Digital Biomarkers market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Digital Biomarkers market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Digital Biomarkers market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Digital Biomarkers market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Digital Biomarkers business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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