Digital biomarkers incorporate technology and tools to
digitally measure human physiological signals and behavior for clinical or
medical purposes. Digital biomarkers can offer highly objective and
quantifiable data compared to traditional subjective assessments.
The global
Digital Biomarkers Market is estimated to be valued at US$ 3.3 billion in 2024
and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to
2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The adoption of digital biomarkers is increasing exponentially driven by the
growing need for precision medicine and remote patient monitoring. Digital
biomarkers offer continuous and objective monitoring of patients without
physical visits to clinics or hospitals. This allows early detection of
therapeutic response as well as monitoring of disease progression. Various
technology companies and digital health platforms are integrating digital
biomarkers within their applications and services to offer cost-effective
solutions to pharmaceutical and biotechnology companies for clinical trials and
drug development. The continuous growth in acceptance of digital healthcare
tools among patients and physicians is expected to drive significant growth of
the digital biomarkers market during the forecast period.
Segment
Analysis:
The global digital biomarkers market can be segmented on the basis of the type
of data collected, deployment model, therapeutic areas and application. Based
on the data collected, the physiological segment dominated the market in 2021
as these digital biomarkers help assess heart rate variability, physical
activity, and sleep patterns. Based on deployment, digital biomarkers deployed
on mobile apps dominated the market owing to the high adoption of smartphones
and user-friendliness of apps. Based on therapeutic areas, the neurological
disorders segment accounted for the largest share due to rising prevalence of
chronic neurological conditions globally. On the basis of applications, the
schizophrenia segment holds the highest market share due to growing need for
improved treatment through digitalization.
Key Takeaways:
The global digital biomarkers market is expected to witness high growth during
the forecast period. Global
Digital Biomarkers Market Size is estimated to be valued at US$ 3.3
billion in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast
period 2024 to 2031.
- Regional analysis: The North America region currently dominates the global
digital biomarkers market and is expected to continue its dominance during the
forecast period. This is attributed to rising investments for research &
development activities of digital biomarkers by pharmaceutical and technology
companies in the US and Canada.
- Key players: Key players operating in the Digital Biomarkers market are
Purina Mills LLC, Nutreco N.V., Roquette Freres S.A. , Evonik Industries A G,
Charoen Pokphand Foods PLC, Alltech Inc., Associated British Foods Plc.,
Koninklijke DSM NV, BASF SE, ACI Godrej Agrovet Private Limited.
- Key players related content: Key players operating in the digital biomarkers
market are focusing on product launches and partnerships with digital health
companies to expand their geographic presence. For instance, in 2021, Purina
Mills LLC launched a new digital pet health platform in partnership with
Anthropic to develop AI-powered digital biomarkers.
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