Digital Biomarkers Market Valuation Worth USD 10.38 billion in 2027 | Emergen Research
Rising incidence of various chronic disorders and infectious diseases across the globe, increasing adoption of hand held and wearable digital devices, and rapid development in IT and telecommunication sector are some key factors expected to drive global market growth
According to Emergen Research, the global digital biomarkers market size was USD 727.8 million in 2019 and is expected to reach USD 10.38 billion in 2027 and register a robust revenue CAGR of 39.2% during the forecast period, 2020-2027.
Biomarkers have been an integral part of biomedical research and clinical practices. Digital biomarkers are quantifiable physiological and behavioral data collected and measured using digital devices such as implantables, wearables, portables, and digestibles. The data collected through these biomarkers are used for identifying and predicting health-related outcomes and developing customized health plans. Factors such as increasing number of FDA approvals, high penetration of internet and smart devices, rising geriatric population, and growing awareness about the importance of data collection tools in the healthcare sector are expected to drive global market revenue growth during the forecast period.
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However, high costs associated with digital biomarkers, rising development costs, lack of standardized and interoperability solutions, and increasing concerns of medical errors can hamper overall market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Respiratory Disease Segment To Register Rapid Revenue CAGR:
The respiratory diseases segment is expected to register rapid revenue CAGR over the forecast period owing to increasing prevalence of respiratory diseases across the globe, and rapid adoption of digital biomarkers for data collection and better patient-centric treatment approaches.
Pharmaceutical Companies Segment to Account for Largest Revenue Share:
The pharmaceutical companies segment is expected to account for largest revenue share during the forecast period. This can be attributed to rising number of pharmaceutical companies across the globe, growing preference for digital markers during drug development phases due to rising risks of medical errors, and increasing availability of advanced digital biomarkers.
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North America to Lead In Terms of Revenue Share:
North America is expected to dominate other regional markets during the forecast period owing to factors such as increasing prevalence of chronic diseases and lifestyle-associated disorders, rising geriatric population, and increasing funds for developing advanced digital biomarkers. Other factors such as increasing penetration of smartphones and wearable devices, rising number of product launches, and increasing investments in R&D activities are expected to drive North America market growth during the forecast period.
Major Companies in the Market Include:
- AliveCor Inc.
- Bayer AG
- Evidation Health Inc.
- Fitbit Inc.
- Happify Health
- Koninklijke Philips NV
- Neurotrack Technologies Inc.
- GlaxoSmithKline Inc.
- Novartis International AG
- F. Hoffmann-La Roche Ltd.
Emergen Research has segmented the global digital biomarkers market on the basis of system component, therapeutic area, end-users, and region:
System Component Outlook (Revenue, USD Billion; 2017-2027)
- Data Collection Tools
- Digital Platforms
- Mobile Apps
- Desktop-Based Software
- Data Integration Systems
Therapeutic Area Outlook (Revenue, USD Billion; 2017-2027)
- Cardiovascular Disease
- Sleep and Movement Disease
- Neurodegenerative Disorders
- Psychiatric Disorder
- Gastrointestinal Disease
- Respiratory Disease
End-Users Outlook (Revenue, USD Billion; 2017-2027)
- Pharmaceutical Companies
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Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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