Digital Biomarkers Market Size is projected to reach USD 27.17 Billion by 2030, growing at a CAGR of 35.2%: Straits Research

New York, United States, Aug. 31, 2022 (GLOBE NEWSWIRE) -- Digital Biomarkers are the data used to track anatomical, psychological, and behavioral changes in the human body using various sensors, Machine Learning (ML), and Artificial Intelligence (AI) techniques, making the data accessible to the wearer and other concerned users. The digital biomarkers currently used in the healthcare industry are the primary contributors to the significant data insights currently available. They assist in analyzing existing and anticipated health conditions and adverse situations.

The devices are available in a variety of forms, including those that are wearable, portable, digestible, and implantable. The oxygen saturation (SpO2) monitor and the heart rate monitor are two of the most common features found in consumer wearables. These monitors are essential for tracking heart and lung biostatistics to identify and warn users of adverse reactions. According to the CDC, cardiovascular disease is the leading cause of death in the United States, accounting for more than 960,000 deaths annually. The discovery of digital biomarkers greatly assists patients with chronic diseases.

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Growing Use of Digital Biomarkers and Penetration of Wearable Devices and Smartphones Drives the Global Market

The increasing use of digital biomarkers in diabetes, respiratory diseases, cardiovascular diseases, and sleep disorders is a significant market driver. Digital technologies have led to the increased adoption of handheld and wearable digital devices, which comprise a large portion of the digital biomarker market. Health informatics is expanding the global market for digital biomarkers. Digital biomarkers provide personalized, cost-effective care. The rapid evolution of telecommunications and IT infrastructure is also driving the market for digital biomarkers. Rising government and corporate investments in healthcare digitalization and smart hospitals are expected to boost global demand for digital biomarkers.

Wearable devices are the industry's second-biggest innovation after Bluetooth headsets. Google Glass, Apple Watch, Fitbit, MotivRing, and Oculus Rift are used in healthcare. The increased prevalence of wearable devices in healthcare is due to global health self-awareness, the rise in patients, and the increased use of technology in daily life. Many Google Play and iOS apps monitor sleep, heart rate, and movement. A recent survey found that 80% of developed and 82% of developing countries use smartphones.

Technology Advancements and Growing Awareness Creates Tremendous Opportunities

Due to the rapid advancement of technology, companies are developing an increasing number of digital biomarkers; consequently, it will likely become an attractive investment segment in the future. With the increasing acceptance of data and devices, an increasing number of companies are investing in the production of digital biomarkers. The Centre for Disease Control and Prevention (CDC) discovered that notifications for Atrial Fibrillation on a particular smartwatch matched a patient's actual ECG 84 percent of the time, thereby reducing the mortality risk of individuals. Consequently, smartwatches and other consumer wearables that monitor multiple physiological factors of the human body are gaining popularity.

Report Scope

Report Metric	Details
Market Size	USD 27.17 billion  by 2030
CAGR	35.2% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Application, End-User, Regions
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	ActiGraph LLC, Akili Interactive Labs, AliveCor Inc., Altoida Inc., Amgen Inc., Bayer AG, Biogen Inc., Eli Lilly and Company, Evidation Health Inc., Fitbit Inc., GlaxoSmithKline Plc., Human API, Happify Health , IXICO Plc., Neurotrack Technology Inc., Novartis, Pfizer Inc., F. Hoffmann-La Roche Ltd., Sanofi, Takeda Pharmaceuticals, Verily Life Science LLC.
Key Market Opportunities	Advancing Technology and Increased Awareness to Spur Market Opportunities
Key Market Drivers	Growing Use of the Digital Biomarkers to Drive Market The Explosion of Wearable Devices and Increasing Smartphone Penetration to Aid Growth

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Regional Analysis

Asia-Pacific region held the largest share of the digital biomarkers market because governments emphasized improving healthcare infrastructure, the proliferation of smart devices such as smartphones, and the presence of a large pool of patients. The region held a significant share of the digital biomarker market because of North America's high penetration of smartphones and wearable devices. This can be attributed to the growing prevalence of lifestyle-related diseases, which, in turn, encourages consumers to monitor their vital signs for a better understanding of their current and future health conditions.

Key Highlights

• The global digital biomarkers market size was valued at USD 1.8 billion in 2021. It is projected to reach USD 27.17 billion by 2030, growing at a CAGR of 35.20% during the forecast period (2022–2030).
• Based on application, the global digital biomarkers market is divided into sleep and movement, cardiovascular, mood and behavior, pain management, neurodegenerative disorders, and respiratory conditions. The cardiovascular segment is dominating the market.
• Based on end-user, the global digital biomarkers market is bifurcated into biopharmaceutical companies, payers, and providers. Biopharmaceutical companies are dominating the end-user market.
• Asia-Pacific region held the largest share of the digital biomarkers market.

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Competitive Analysis

• ActiGraph LLC
• Akili Interactive Labs
• AliveCor Inc.
• Altoida Inc.
• Amgen Inc.
• Bayer AG
• Biogen Inc.
• Eli Lilly and Company
• Evidation Health Inc.
• Fitbit Inc.
• GlaxoSmithKline Plc.
• Human API
• Happify Health
• IXICO Plc.
• Neurotrack Technology Inc.
• Novartis
• Pfizer Inc.
• F. Hoffmann-La Roche Ltd.
• Sanofi
• Takeda Pharmaceuticals
• Verily Life Science LLC.

Global Digital Biomarkers Market: Segmentation

By Application

• Sleep and Movement
• Cardiovascular
• Mood and Behavior
• Pain Management
• Neurodegenerative Disorders
• Respiratory Conditions

By End-User

• Biopharmaceutical Companies
• Payers
• Providers

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America

TABLE OF CONTENT

1. Introduction
   1. Market Definition
   2. Market Scope
2. Research Methodology
   1. Primary Research
   2. Research Methodology
   3. Assumptions & Exclusions
   4. Secondary Data Sources
3. Market Overview
   1. Report Segmentation & Scope
   2. Value Chain Analysis: Digital Biomarkers Market
   3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
   4. Porter's Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
   5. Market Share Analysis
4. Application Overview
   1. Introduction
      1. Market Size & Forecast
   2. Sleep and Movement
      1. Market Size & Forecast
   3. Cardiovascular
      1. Market Size & Forecast
5. End-User Overview
   1. Introduction
      1. Market Size & Forecast
   2. Biopharmaceutical Companies
      1. Market Size & Forecast
   3. Payers
      1. Market Size & Forecast
6. Regional Overview
   1. Introduction
      1. Market Size & Forecast
   2. America
      1. North America
      2. U.S.
         1. By Application
         2. By End-User
      3. Canada
         1. By Application
         2. By End-User
      4. Mexico
         1. By Application
         2. By End-User
      5. Latin America
         1. By Application
         2. By End-User
   3. Europe
      1. Market Size & Forecast
      2. Germany
         1. By Application
         2. By End-User
      3. France
         1. By Application
         2. By End-User
      4. U.K.
         1. By Application
         2. By End-User
      5. Italy
         1. By Application
         2. By End-User
      6. Spain
         1. By Application
         2. By End-User
      7. Rest of Europe
         1. By Application
         2. By End-User
   4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
         1. By Application
         2. By End-User
      3. China
         1. By Application
         2. By End-User
      4. Australia
         1. By Application
         2. By End-User
      5. India
         1. By Application
         2. By End-User
      6. South Korea
         1. By Application
         2. By End-User
      7. Rest of Asia-Pacific
         1. By Application
         2. By End-User
   5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
         1. By Application
         2. By End-User
      3. South Africa
         1. By Application
         2. By End-User
      4. Kuwait
         1. By Application
         2. By End-User
      5. Rest of Middle East & Africa
         1. By Application
         2. By End-User
7. Company Profile
   1. ActiGraph LLC
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   2. Akili Interactive Labs
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   3. AliveCor Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
8. Conclusion & Recommendation
9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/digital-biomarkers-market/toc

Recent Developments              

• February 2022- ActiGraph Announces Significant Technology Upgrades for Clinical Trials. ActiGraph, a leading technology partner for clinical trials and academic research, has introduced significant upgrades and enhancements to its remote monitoring ecosystem for the real world. The CPIW 2.0 is a purpose-built wearable for continuously tracking real-world movement and sleep behaviors in clinical trial participants. Its design, durability, and onboard temperature sensor have been enhanced.
• March 2022- ActiGraph Joined the Decentralized Trials & Research Alliance. ActiGraph, a leading provider of wearable technology-enabled scientific solutions for clinical trials and academic research, has joined the Decentralized Trials & Research Alliance (DTRA).
• May 2022- Akili Integrated First-of-its-Kind Prescription Video Game Treatment with the Virtual World Through Partnership with Roblox. Akili Interactive ("Akili"), a leading digital medicine company pioneering the development of cognitive treatments through game-changing technologies, and Roblox (NYSE:RBLX), a global platform connecting millions of people through shared experiences, have announced a partnership that connects patients' medical treatments to their preferred virtual worlds.

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