Digital Biomarker Market size worth USD 83.8 Billion by 2035

New York – September 29, 2022 - Research Nester Analytics LLC ’s recent market research report on Digital Biomarker Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview in terms of market segmentation by component, therapeutic area, application, end user, and by region.

Rising Application of Digital Biomarkers in Various Diseases to Drive Growth of the Global Digital Biomarker Market

The widespread usage of digital biomarkers can be ascribed to a variety of variables, including the growing burden of chronic diseases, an aging population, a growth in the number of smartphone users, and increasing access to the internet in the World. A large portion of the population in the United States has access to mobile health applications. Furthermore, with the recent COVID-19 epidemic, the global adoption of telehealth services has expanded dramatically in order to provide immediate access to healthcare professionals. Besides this, with the continued advancement of wireless capabilities and technologies such as edge computing and AI, the implementation of these technologies can be leveraged to improve the Internet of Medical Things (IoMT) by providing more opportunities to track patient data. These factors might increase healthcare professionals' use of digital biomarkers.

Access our detailed report on “Digital Biomarker Market Size & Share, by Component (Data Collection Tools, Data Integration Systems); Therapeutic Area (Cardiovascular Diseases, Neurodegenerative Disorders, Sleep & Movement Diseases, Chronic Pain, Gastrointestinal Diseases, Diabetes, Respiratory Conditions); Application (Wellness, Disease Diagnosis, Personalized Medication, Drug Discovery & Development); End User (Biopharmaceutical Companies & Labs, Healthcare) - Global Supply & Demand Analysis, Growth Forecasts 2023-2035”

https://www.researchnester.com/reports/digital-biomarker-market/3217

Despite major advances in digital biomarker technology in the past, some difficulties hinder their widespread application. The treatment that is now being used using digital biomarkers is novel rather than unique. Furthermore, all healthcare information cannot be discovered, acquired, and exploited, posing a significant danger to the market. It is difficult for physicians and patients to interpret enormous amounts of complex data due to a lack of simple data visualization tools. This shortage of basic tools and equipment is expected to hamper the market growth of biomarkers.

By application, the global digital biomarker market is segmented into wellness, disease diagnosis, personalized medication, and drug discovery & development.  The drug discovery & development segment is predicted to develop at a CAGR of 32.69% over the given time frame. The initial investment in medication discovery and development was considerable due to the activities of research and development, and the success rate was low. The approval rate for pharmaceuticals undergoing clinical development is currently increasing as a result of emerging technology such as digital biomarkers. The rising development of new drugs and vaccines is expected to boost the segment’s growth.

By region, the market in the Asia Pacific, amongst the market in all the other regions, is projected to hold a market revenue of USD 16.5 billion by the end of 2035 by growing at the highest CAGR of 33.84% over the forecast period.  The rising prevalence of chronic diseases, government initiatives aimed at strengthening the healthcare system, smartphone adoption, and collaborative efforts among the region's leading market players and healthcare providers are some of the most significant drivers in the Asia Pacific digital biomarkers market. The region's internet penetration is expanding as a result of the increased use of smartphones, speeding up patients' preference for health apps.

This report also provides the existing competitive scenario of some of the key players of the global digital biomarker market which includes company profiling of nQ Medical, ALTOIDA, ActiGraph, LLC., VivoSense, EVOCAL Health GmbH, Koneksa Health, Cosinuss GmbH, Biofourmis, Lunit Inc., and IMVARIA Inc. 

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