The global digital biomarkers market size was US$ 2.01 billion in 2022 and is expected to reach over US$ 18.68 billion by 2031, growing at a compound annual growth rate (CAGR) of 28.1% during the forecast period from 2023 to 2031.
Digital Biomarkers are data that are utilized to track anatomical, psychological, and behavioral changes in the human body using various sensors, Machine Learning (ML), and Artificial Intelligence (AI) techniques, and making the data available to the wearer and other interested users. Digital biomarkers are currently the primary source of big data insights in the healthcare industry. They aid in the analysis of present as well as predicted health issues and bad events. Wearables, portables, and digestible and implantable devices are among the gadgets available.
Market Driving Factors
The rising frequency of chronic diseases in both developing and developed countries is expected to boost the adoption of digital biomarkers for remote patient monitoring. According to the American Heart Association, the global age-adjusted prevalence rate of cardiovascular disease was 7,354.1 per 100,000 people in 2020, and more than 244.1 million people worldwide had ischemic heart disease.
The growing number of clinical trials, and increased investment in research and development of various therapies to manage chronic illnesses, are predicted to stimulate demand for digital tools, particularly digital biomarkers. According to data supplied by the WHO International Clinical Studies Registry Platform (ICTRP), more than 59,000 clinical studies were active around the world in 2020. As a result, the increased demand for digital biomarkers can be due to the huge number of active clinical trials.
Healthcare spending has increased over the world. According to the National Health Expenditure Account (NHEA), spending in the United States would increase by 9.7% in 2020, reaching USD 4.1 trillion, or USD 12,530 per person. Health spending as a proportion of GDP stood at 19.7% of GDP. According to Eurostat, the European Union spent 9.94% of GDP, or Euro 1.38 trillion, on healthcare. As a result of increased healthcare expenses, there will be a surge in demand for digital biomarkers, which will accelerate industry growth.
The high cost of establishing a manufacturing unit and marketing digital biomarkers may slow down the overall market growth.
Segmentation Insights
System Component Insights
In terms of revenue, in 2022, the data collection tools segment dominated the global digital biomarkers market and is expected to maintain its dominance over the forecast period. This is due to the rising adoption of smartphones and wearable devices among the public, which considerably aids in data collection. Wireless connectivity and the internet are important tools for quick data collecting and transfer. Biosensors make up a significant percentage of the data-gathering instruments.
Application Insights
In terms of revenue, in 2022, the cardiovascular diseases segment dominated the global digital biomarkers market in 2020 and is expected to maintain its dominance during the projected period. This is simply due to a rise in the prevalence of cardiovascular disorders in the global population. According to the World Health Organization, cardiovascular disorders account for approximately 32% of global mortality. It is often regarded as the major cause of death. The rising prevalence of cardiovascular illnesses owing to numerous causes, such as increased cigarette consumption, bad eating habits, and smoking is likely to fuel the expansion of this segment in the future years.
Regional Insights
In terms of revenue, Asia Pacific dominated the global digital biomarkers market in 2022 and is expected to maintain its dominance over the projected period. In recent years, rising government spending on the building of robust and modern healthcare infrastructure in the region has considerably enhanced the adoption of digital biomarkers in the Asia Pacific market. The proliferation of digital technologies and their rising usage in the Asia Pacific healthcare industry is driving market expansion. Furthermore, the presence of a large population, the rising prevalence of chronic diseases, and an aging population are likely to exponentially increase the demand for digital biomarkers in the near future.
Leading Prominent Players
Segmentation Outline
The global digital biomarkers market segmentation focuses on System Component, Application, and Region.
By System Component
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL DIGITAL BIOMARKERS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: DIGITAL BIOMARKERS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL DIGITAL BIOMARKERS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL DIGITAL BIOMARKERS MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 DATA COLLECTION TOOLS
5.2.1 MOBILE APPS
5.2.2 WEARABLE
5.2.3 DIGITAL PLATFORMS
5.2.4 BIOSENSORS
5.2.5 DESKTOP-BASED SOFTWARE
5.3 DATA INTEGRATION SYSTEMS
6 GLOBAL DIGITAL BIOMARKERS MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 SLEEP & MOVEMENT DISEASE
6.3 CARDIOVASCULAR DISEASES
6.4 RESPIRATORY DISEASE
6.5 NEURODEGENERATIVE DISORDERS
6.6 DIABETES
6.7 GASTROINTESTINAL DISEASE
6.8 PSYCHIATRIC DISORDER
6.9 OTHERS
7 GLOBAL DIGITAL BIOMARKERS MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL DIGITAL BIOMARKERS MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 BAYER AG
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 BIOGEN INC.
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 ACTIGRAPH LLC
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 AMGEN INC
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 F. HOFFMANN-LA ROCHE LTD
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 FITBIT INC
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 GLAXOSMITHKLINE PLC
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 KONINKLIJKE PHILIPS N.V.
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 MINDSTRONG HEALTH
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 MEDICAL CARE CORPORATION
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.11 MEDOPAD LTD
9.11.1 OVERVIEW
9.11.2 FINANCIAL PERFORMANCE
9.11.3 PRODUCT OUTLOOK
9.11.4 KEY DEVELOPMENTS
9.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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