The digital biomarkers market was valued for $2.12 billion in 2022 and is estimated to reach $14.67 billion by 2032, exhibiting a CAGR of 21.3% from 2023 to 2032.
Digital biomarkers are characterized as measurable physiological and behavioral data that are obtained and assessed using digital devices such as portable, wearable, implantable, or ingestible ones. The information gathered is often used to forecast, affect, or explain outcomes connected to health. Digital biomarkers offer another chance to gather factual data that has therapeutic significance. This innovative open-access multidisciplinary approach unites informatics, engineering, biomedicine, regulatory science, and computer science.
The digital biomarkers market growth is driven by high presence of market players who manufacture digital biomarkers and increase in prevalence of chronic diseases such as cardiovascular diseases, respiratory diseases, psychiatric diseases, neurological diseases, and others. Digital biomarkers are used to monitor a wide range of diseases and health conditions. Digital biomarkers aim to monitor heart rate, heart rate variability, blood pressure, and other related parameters to assess the risk of cardiovascular diseases such as hypertension, arrhythmias, and heart failure. These biomarkers can be utilized to assess and monitor mental health conditions such as depression, anxiety, and bipolar disorder by analyzing patterns in sleep, activity levels, social interactions, and speech characteristics.
Moreover, digital biomarkers can aid in the monitoring and management of neurological conditions like Parkinson's disease, Alzheimer's disease, multiple sclerosis, and epilepsy. These biomarkers can include gait analysis, tremor frequency, cognitive performance, and sleep disturbances. Digital biomarkers can help track and analyze pain levels, activity patterns, sleep quality, and mood fluctuations in patients with chronic pain conditions, assisting in personalized pain management approaches.
For instance, according to the British Heart Foundation, in 2022, around 1,139,140 people were reported to have been suffering from heart and circulatory diseases in the UK. As per the same source, in 2022, around 650,681 male and 488,320 female population were suffering from heart and circulatory diseases in the UK. Thus, rise in number of chronic diseases is anticipated to drive the demand for digital biomarker and boost the growth of the market.
In addition, geriatric population is more susceptible to chronic diseases such as cardiovascular diseases, neurological disorders, respiratory diseases, and others. Thus, increase in the number of geriatric populations is expected to witness growth in prevalence of neurological diseases such as Alzheimer's dementia (AD). Therefore, this is expected to increase the demand for digital biomarkers and boost the growth of the market. According to World Health Organization, (WHO), population aged 60 years and over were expected to increase from 1 billion in 2020 to 1.4 billion in 2022 globally. By 2050, the global population of people aged 60 years and older is expected to increase by two-fold. The number of people aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.
Moreover, according to Alzheimer's Association, in 2022, an estimated 6.5 million Americans aged 65 and older were reported to have been living with Alzheimer's dementia (AD). This number is projected to grow to 13.8 million by 2060. On the other hand, data privacy and security concerns, and lack of awareness is anticipated to hamper the growth of the market. However, increase in demand for digital medical devices in the developed countries such as U.S., Canada, and Germany and growth opportunities in emerging markets are expected to create immense opportunities for the digital biomarkers market during the forecast period.
The digital biomarkers market is segmented on the basis of type, application, end user and region. By type the market is divided into wearable, mobile application, software, and others (sensor, card, and implantable). By application, the market is classified into cardiovascular disease, sleep & movement disease, neurological disorders, and others. (respiratory diseases, diabetes, psychiatric and musculoskeletal disorders). By clinical practice, the market is classified into monitoring, diagnostic and prognostic. By end user, the market is divided into healthcare companies, hospitals, and others (payers and patients)
Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Major key players that operate in the global digital biomarkers market are ActiGraph LLC, Verily Life Sciences, Alivecor, koneksahealth, Amgen, Brainomix, Feel Therapeutics, Sonde Health, Inc., Empatica, Clario. Key players operating in the market have adopted product approval, product launch, acquisition and agreement as their key strategies to expand their digital biomarkers market share.
Digital biomarkers are characterized as measurable physiological and behavioral data that are obtained and assessed using digital devices such as portable, wearable, implantable, or ingestible ones. The information gathered is often used to forecast, affect, or explain outcomes connected to health. Digital biomarkers offer another chance to gather factual data that has therapeutic significance. This innovative open-access multidisciplinary approach unites informatics, engineering, biomedicine, regulatory science, and computer science.
The digital biomarkers market growth is driven by high presence of market players who manufacture digital biomarkers and increase in prevalence of chronic diseases such as cardiovascular diseases, respiratory diseases, psychiatric diseases, neurological diseases, and others. Digital biomarkers are used to monitor a wide range of diseases and health conditions. Digital biomarkers aim to monitor heart rate, heart rate variability, blood pressure, and other related parameters to assess the risk of cardiovascular diseases such as hypertension, arrhythmias, and heart failure. These biomarkers can be utilized to assess and monitor mental health conditions such as depression, anxiety, and bipolar disorder by analyzing patterns in sleep, activity levels, social interactions, and speech characteristics.
Moreover, digital biomarkers can aid in the monitoring and management of neurological conditions like Parkinson's disease, Alzheimer's disease, multiple sclerosis, and epilepsy. These biomarkers can include gait analysis, tremor frequency, cognitive performance, and sleep disturbances. Digital biomarkers can help track and analyze pain levels, activity patterns, sleep quality, and mood fluctuations in patients with chronic pain conditions, assisting in personalized pain management approaches.
For instance, according to the British Heart Foundation, in 2022, around 1,139,140 people were reported to have been suffering from heart and circulatory diseases in the UK. As per the same source, in 2022, around 650,681 male and 488,320 female population were suffering from heart and circulatory diseases in the UK. Thus, rise in number of chronic diseases is anticipated to drive the demand for digital biomarker and boost the growth of the market.
In addition, geriatric population is more susceptible to chronic diseases such as cardiovascular diseases, neurological disorders, respiratory diseases, and others. Thus, increase in the number of geriatric populations is expected to witness growth in prevalence of neurological diseases such as Alzheimer's dementia (AD). Therefore, this is expected to increase the demand for digital biomarkers and boost the growth of the market. According to World Health Organization, (WHO), population aged 60 years and over were expected to increase from 1 billion in 2020 to 1.4 billion in 2022 globally. By 2050, the global population of people aged 60 years and older is expected to increase by two-fold. The number of people aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.
Moreover, according to Alzheimer's Association, in 2022, an estimated 6.5 million Americans aged 65 and older were reported to have been living with Alzheimer's dementia (AD). This number is projected to grow to 13.8 million by 2060. On the other hand, data privacy and security concerns, and lack of awareness is anticipated to hamper the growth of the market. However, increase in demand for digital medical devices in the developed countries such as U.S., Canada, and Germany and growth opportunities in emerging markets are expected to create immense opportunities for the digital biomarkers market during the forecast period.
The digital biomarkers market is segmented on the basis of type, application, end user and region. By type the market is divided into wearable, mobile application, software, and others (sensor, card, and implantable). By application, the market is classified into cardiovascular disease, sleep & movement disease, neurological disorders, and others. (respiratory diseases, diabetes, psychiatric and musculoskeletal disorders). By clinical practice, the market is classified into monitoring, diagnostic and prognostic. By end user, the market is divided into healthcare companies, hospitals, and others (payers and patients)
Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Major key players that operate in the global digital biomarkers market are ActiGraph LLC, Verily Life Sciences, Alivecor, koneksahealth, Amgen, Brainomix, Feel Therapeutics, Sonde Health, Inc., Empatica, Clario. Key players operating in the market have adopted product approval, product launch, acquisition and agreement as their key strategies to expand their digital biomarkers market share.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital biomarkers market analysis from 2022 to 2032 to identify the prevailing digital biomarkers market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the digital biomarkers market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global digital biomarkers market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Wearable
- Mobile Application
- Others
By Application
- Neurological Disorders
- Respiratory Disease
- Others
- Cardiovascular Disease
- Diabetes
By Clinical Practice
- Monitoring
- Diagnostic
- Prognostic
By End User
- Healthcare Providers
- Healthcare Consumers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- ActiGraph LLC
- AliveCor
- Amgen Inc.
- Brainomix
- Clario
- Empatica
- Feel Therapeutics
- Koneksahealth
- Sonde Health, Inc.
- Verily Life Sciences LLC
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DIGITAL BIOMARKERS MARKET, BY TYPE
CHAPTER 5: DIGITAL BIOMARKERS MARKET, BY APPLICATION
CHAPTER 6: DIGITAL BIOMARKERS MARKET, BY CLINICAL PRACTICE
CHAPTER 7: DIGITAL BIOMARKERS MARKET, BY END USER
CHAPTER 8: DIGITAL BIOMARKERS MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the digital biomarkers market was valued at $2.1 billion in 2022, and is estimated to reach $14.7 billion by 2032, growing at a CAGR of 21.3% from 2023 to 2032.Digital biomarkers refer to digital devices or technologies which can encompass a wide range of data, including physiological parameters (heart rate, blood pressure, and sleep patterns), activity levels, cognitive performance, speech patterns, gait analysis, social media behavior, and more. These biomarkers are often collected in real-time or near real-time, allowing for continuous monitoring and analysis. Digital biomarkers hold promise in various areas, including chronic disease management, mental health monitoring, precision medicine, clinical trials, wellness and preventive care, and patient engagement.
Key factors driving the growth of the digital biomarkers market include rise in prevalence of chronic diseases, high presence of market players, and surge in number of geriatric populations. Moreover, rise in number of product approvals and product launches for digital biomarker is anticipated to boost the growth of the market. For instance, in September 2022, Feel Therapeutics Inc., a leading company of developing digital biomarkers and therapeutics, announced the launch of its digital precision medicine platform. Through its proprietary platform, Feel therapeutics can collect clinically valuable data points passively and on a 24/7 basis to generate real-world evidence (RWE) and discover novel digital biomarkers and endpoints.
In addition, High presence of market players and rise in number of strategic partnerships and business expansions associated to digital biomarkers is anticipated to boost the growth of the market. For instance, in February 2022, Koneksa, the leader in designing and validating digital biomarkers to accelerate drug development, announced the completion of a $45 million Series C financing round, led by AyurMaya, an affiliated fund of matrix capital management. This financing accelerates expansion of digital biomarker platform.
Moreover, high presence of market players who manufacture technologically advanced digital biomarkers is anticipated to boost the growth of the market. For instance, ActiGraph LLC, chugai-pharm, Verily Life Sciences, Alivecor, koneksahealth, Altoida, Amgen, Feel Therapeutics, Brainomix, Sonde Health, Inc., Empatica are major market players who manufacture technologically advanced digital biomarkers.
The digital biomarkers market is segmented on the basis of type, application, end user and region. By type the market is divided into wearable, mobile application, software, and others (sensor, card, and implantable). By application, the market is classified into cardiovascular disease, sleep & movement disease, neurological disorders, and others. (respiratory diseases, diabetes, psychiatric and musculoskeletal disorders). By end user, the market is divided into healthcare companies, hospitals, and others (payers and patients). Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Region wise, it is analyzed across North America (the U. S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
The key players profiled in the study include ActiGraph LLC, Verily Life Sciences, Alivecor, koneksahealth, Amgen, Brainomix, Feel Therapeutics, Sonde Health, Inc., Empatica, Clario. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and expansion to remain competitive and gain advantage over the competitors in the market. For instance, in September 2022, Feel Therapeutics Inc., a leading company of developing digital biomarkers and therapeutics, announced the launch of its digital precision medicine platform. Through its proprietary platform, Feel can collect clinically valuable data points passively and on a 24/7 basis to generate real-world evidence (RWE) and discover novel digital biomarkers and endpoints.
In addition, rise in the number of product launch and product approvals for digital biomarkers. For instance, in March 2023, brainTale, a biotechnology research company, announces the new release of its CE-marked version of the brainTale-care digital biomarker platform under European regulation. BrainTale-care is a clinically evaluated software medical device available in Software as a Service (SaaS) mode for physician. It provides reliable, reproducible, and quantitative measurement of the brain.
Key Market Insights
By type, wearable segment was the highest revenue contributor to the market and is estimated to reach $9.07 billion by 2032, with a CAGR of 21.3%.By application, the cardiovascular disease segment dominated the global market. However, the diabetes segment is expected to be the fastest-growing segment with a CAGR of 22.3% during the forecast period.
By clinical practice, the monitoring segment dominated the global market. However, the diagnostics segment is expected to be the fastest-growing segment with a CAGR of 21.8% during the forecast period.
By end user, the healthcare consumers segment dominated the global market. However, the healthcare providers segment is expected to be the fastest-growing segment with a CAGR of 22.0% during the forecast period.
Based on region, North America garnered the largest revenue share in 2022, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 22.3% during the forecast period
Companies Mentioned
- ActiGraph LLC
- AliveCor
- Amgen Inc.
- Brainomix
- Clario
- Empatica
- Feel Therapeutics
- Koneksahealth
- Sonde Health, Inc.
- Verily Life Sciences LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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