Digital Biomarkers Market Overview
Digital biomarkers are shaping the future of medical interventions. Smart digital devices, encompassing smartphones, tablets, smartwatches and other IoT gadgets, have witnessed significant increase in their adoption, across the world.
The digital biomarkers market is estimated to be USD 5.55 billion in 2024 and is projected to reach USD 35.8 billion in 2035.
This trend is fueled by their ever-rising functionalities, such as seamless connectivity, AI-driven personal assistants and health monitoring features (by analyzing digital biomarkers). As these devices become economical and technologically advanced, their ubiquity continues to grow.
The global biomarkers market is a growing field with various pharmaceutical firms taking complete advantage of these tools to enhance healthcare delivery to patients. Biomarkers play a significant role in the diagnosis and monitoring of a myriad of therapeutic indications, or responses to pharmacological interventions.
Digital Biomarkers Market Segmentation
Digital Biomarkers Market segments include Distribution by Type of Product (Software / Applications, Wearables, and Others), Purpose of Solution (Diagnosis, Early Detection, Monitoring, and Predictive Insights), Type of Biomarker (Cognitive, Idiosyncratic, Physiological, Vocal, and Others), Therapeutic Area (Autoimmune Disorders, Cardiovascular Disorders, Infectious Disorders, Mental Health Disorders, Neurological Disorders, Respiratory Disorders, Substance Abuse Disorders and Others), Business Model (B2B and B2C) and Key Geographical Regions (North America, Europe, Asia-Pacific, Middle East and North Africa, and Rest of the World).
Technological advancements have also been noted in the biomarkers market, with the development of digital biomarkers; digital biomarkers are analyzed in silico, using advanced analytical algorithms and artificial intelligence (AI) enabled tools, and thus, can be used to rapidly generate actionable insights and identify previously undetected biological events (obscured by the shortcomings of manual processes).
Owing to their multiple benefits, including ease of access, versatile platforms, decreased cost of treatment, personalized treatment options, enhanced medication adherence, promotion of healthy lifestyle and remote access to healthcare providers for patients and vice versa, digital biomarkers have emerged as a promising alternative to conventional medication. The benefits offered by these solutions and the growing demand for remote and digital solutions across the world, post the pandemic, are likely to drive the market growth in the long term.
The current market landscape features the presence of more than 220 digital biomarkers that are currently available in the market or under different stages of development.
Digital Biomarkers Market Key Players
Key digital biomarkers companies includes AliveCor, BACtrack, Biogen, BioSensics, empatica, Eyenuk, Feel Therapeutics, icometrix, and Quibim.Majority of digital biomarker solutions are software / applications.
Notably, 5% of the digital biomarker solutions can be used for data collection / analysis as well as for data integration. Further, most of the digital biomarker solutions are intended for neurological disorders, followed by oncological disorders (including breast cancer, lung cancer and prostate cancer) and cardiovascular disorders (including hypertension, cardiac arrhythmias and arterial stiffness).
In the realm of health monitoring, digital solutions have evolved to measure a wide array of biomarkers. Most of the digital biomarker solutions collect / analyze / integrate information related to different physiological biomarkers, such as pulse rate, heart rate variability, sweat parameters and body temperature.
Digital Biomarkers Market Geographical Regions
Key Geographical Regions of Digital Biomarkers Market include North America, Europe, Asia-Pacific, Middle East and North Africa, and Rest of the World. Moreover, around 65% of the digital biomarker solutions are used for monitoring patients suffering from a wide range of disorders, thereby providing real-time insights of their health. This is followed by solutions that are used for diagnosis and early detection / screening of diseases. Further, over 90% of these solutions are intended to be used by adults.
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