| Source: Research Nester
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New York , Dec. 05, 2023 (GLOBE NEWSWIRE) — The global digital biomarkers market size is expected to expand at 32.15% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 83.8 billion by the end of 2035, up from a revenue of USD 2.2 billion in the year 2022. The growth of the market can be attributed to the growing prevalence of chronic diseases. Because most chronic diseases have a slow beginning, there is a possibility to create prognostic digital biomarkers that are recognized early enough to match the current measurement standards as normal levels. This will help in developing targeted therapies and control the burden of chronic illness.
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In addition to these, factors that are believed to fuel the growth of digital biomarkers market is advancement in digital health technology. The use of digital biomarkers in decentralized clinical trials has had a considerable impact on remote patient monitoring. Digital health technologies have the potential to fundamentally change the way clinical trials are executed. Merck launched the digitally enabled clinical trial project in 2021, according to the National Centre for Biotechnology Information, to promote the use of digital technologies in clinical trials. Wearable devices, such as fitness trackers, smartwatches, and medical-grade sensors, play a crucial role in collecting continuous and real-time data. The increasing adoption of wearable devices for health monitoring and the integration of advanced sensors for precise data collection are driving market growth.
Digital Biomarkers Market: Key Takeaways
Increasing Remote Sensing Technologies across the Globe to Boost Market Growth
Remote sensing technological devices enable professionals to find patients and retrieve their medical records more rapidly. Remote sensing and monitoring technologies allow healthcare providers to obtain timely information about a patient’s vital signs without needing to schedule an in-person visit. The number of deaths from neurological illnesses has grown by 39% since 1990. The growing environmental and life pressure has increased the frequency of neurological disorders, such as Alzheimer’s disease, dementia, and others. Moreover, healthcare providers and the government are taking initiative to address the problem. Alzheimer’s Disease Biomarkers Summit is a digital forum dedicated to addressing the issue of establishing clinically proven markers for early identification and Alzheimer’s treatment. AstraZeneca is working to develop new modalities for drug delivery systems to target and control the release of molecules directly into the tissues and cells. Biomarkers enable to increase in the extent of the new drug to reach the desired target. Mobile apps designed for health monitoring and management contribute to the collection of digital biomarkers through smartphones. The rising popularity of mHealth apps for chronic disease management, wellness tracking, and remote patient monitoring is fueling market growth.
Digital Biomarkers Industry: Regional Overview
The global digital biomarkers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Wearable Device Adoption and Continuous Monitoring to Drive the Market Growth in North America Region
The digital biomarkers market in North America region is estimated to garner the largest revenue by the end of 2035. The growth of the market can be attributed majorly to the surging cases of Alzheimer’s disease in the region. North America accounts for the vast majority of instances worldwide. Alzheimer’s is one of the top ten leading causes of death and disability in the United States, according to the Centers for Disease Control and Prevention. According to The Fisher Centre for Alzheimer’s Research Foundation, someone in the United States develops Alzheimer’s disease every 65 seconds. Over 6 million people in the United States were living with Alzheimer’s Disease in 2021. Wearable devices have become integral to healthcare, offering continuous monitoring and real-time data collection. The widespread adoption of wearable devices for health and wellness tracking is a significant driver of the digital biomarkers market in North America. The increasing popularity of fitness trackers, smartwatches, and medical-grade wearables has transformed healthcare by providing individuals and healthcare professionals with access to real-time health data. This trend is driving the demand for digital biomarkers that leverage data from wearable devices to monitor various health parameters.
Surge in Mobile Health Solutions to Propel the Growth in the Europe Region
The Europe digital biomarkers market is estimated to garner the highest CAGR by the end of 2035. Mobile health applications have witnessed a surge, empowering users to monitor and manage their health through smartphones. The rising popularity of mHealth apps, particularly for chronic disease management, fuels the demand for digital biomarkers in Europe. The convenience and accessibility of smartphones have driven the adoption of mHealth apps in Europe. Digital biomarkers, integrated into these applications, offer a comprehensive approach to health monitoring and personalized interventions, driving growth in the market. The evolution of AI in healthcare is empowering precise diagnostics, predictive analysis, and personalized treatment plans. In the realm of digital biomarkers, AI’s ability to discern patterns and extract actionable insights from complex health data is accelerating research and treatment strategies across Europe. A report estimates that AI applications in European healthcare could create up to USD 170 billion in annual value by 2025.
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Digital Biomarkers Segmentation by Therapeutic Area
Amongst these segments, the digital biomarkers market neurogenerative disorder segment is anticipated to hold the largest share over the forecast period. The growth of the segment can be attributed to the rising cases of neurogenerative disorder. Owing to the low success rate of treatment and drugs, these diseases are continuously increasing and are becoming hard to tackle. In 2020, there were approximately 55 million people living with dementia worldwide. This figure is expected to nearly double every 20 years, hitting 78 million in 2030 and around 139 million in 2050. Digital biomarkers facilitate continuous monitoring of physiological and behavioral changes, enabling early detection and personalized treatment plans for neurodegenerative disorders. Digital biomarkers, derived from wearables and other connected devices, offer a continuous stream of data that can reveal subtle changes in motor function, sleep patterns, and cognitive performance. Early detection not only improves patient outcomes but also holds the potential to alleviate the economic burden associated with neurodegenerative disorders.
Digital Biomarkers Segmentation by Application
Amongst these segments, the drug discovery & development segment is anticipated to hold a significant share over the forecast period. The growth of the segment is attributed to the growing discovery of new drugs and the rise in the number of clinical trials being carried out for novel drugs. As life sciences businesses expand to put money into and advance new treatments and vaccines across a wide range of disease areas, the total number of items currently being developed in human trials globally surpasses 6,000, a rise of 68% over the 2016 level. The paradigm of drug discovery is shifting towards precision medicine, tailoring therapies to individual patient profiles. Digital biomarkers offer a treasure trove of patient-specific data, from genetic markers to real-time physiological responses. Integrating these biomarkers into drug discovery processes allows for the identification of specific patient subgroups that respond optimally to certain therapies, maximizing efficacy and minimizing adverse effects. Real-time monitoring through digital biomarkers allows for continuous data collection, reducing the need for lengthy observation periods. This not only accelerates the drug development process but also translates into substantial cost savings for pharmaceutical companies.
Digital Biomarkers Segmentation by Component
Digital Biomarkers Segmentation by End User
Few of the well-known market leaders in the global digital biomarkers market that are profiled by Research Nester are nQ Medical, ALTOIDA, ActiGraph, LLC., VivoSense, EVOCAL Health GmbH, Koneksa Health, Cosinuss GmbH, Biofourmis, Lunit Inc., IMVARIA Inc., and other key market players.
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Recent Development in the Digital Biomarkers Market
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