Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSThe global digital biomarker market attained revenue of USD 1,043.3 Million in 2019 and is estimated to garner USD 46,131.4 Million in 2030 by growing at a CAGR of 41.22% over the forecast period i.e., 2020-2030. One of the major factors that can be attributed to the growth of the market can be the growing usage of healthcare-based mobile apps and the emerging mHealth or mobile health industry. Moreover, increasing smartphone penetration worldwide, along with the increasing internet use, are also expected to create numerous opportunities for market growth. According to the statistics by Pew Research Center, smartphone ownership in the United States grew from 35% in the year 2011 to 85% in the year 2021. Additionally, smartphone ownership amongst the U.S. citizens aged 65+ grew from 3% in 2013 to 12% in 2021. The market is also thriving on account of the rising incidences of chronic diseases worldwide, and the growing burden of chronic diseases amongst the nations. According to the statistics by the United States Centers for Disease Control and Prevention (CDC), the leading causes of death and disability in the U.S. costs the country USD 3.8 Trillion in annual healthcare costs. Additionally, growing adoption of smart wearables is also expected to provide numerous opportunities for market growth during the forecast period. The market is also expected to grow on account of the increasing application of digital biomarkers to diagnose various neurological disorders, such as Alzheimer’s disease.
Regionally, the global digital biomarker market is segmented into five major regions comprising North America, Asia Pacific, Europe, South America, and Middle East & Africa. Among the markets in these regions, the North America digital biomarker market is estimated to hold leading market share throughout the forecast period. The market in the region registered a market value of USD 512.3 Million in the year 2019 and is further expected to reach USD 20796 Million by the end of 2030. The market in the region is also expected to grow with a CAGR of 40.13% during the forecast period. The market is further segmented by country into the U.S., Canada, and Mexico, out of which, the market in the U.S. is anticipated to garner the largest revenue of USD 778.2 Million by the end of 2021. The growth of the market in the country can be attributed to the growing adoption of telehealth services, followed by the availability of a strong healthcare infrastructure, and increase in spending by the government of the country for advancements in medical research. The U.S. digital biomarker market is segmented by therapeutic area into cardiovascular diseases, neurodegenerative disorders, sleep & movement diseases, psychiatric disorders, chronic pain, gastrointestinal diseases, diabetes, respiratory conditions, and others, out of which, the neurodegenerative disorders segment is expected to hold the largest revenue of USD 4250.80 Million by the end of 2030. On the other hand, the market in the Asia Pacific is expected to grow with the highest CAGR of 44.09% during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
The global digital biomarker market is segmented by system component into data collection tools and data integration systems. Out of these, the data integration systems segment is expected to hold the highest CAGR of 41.50% during the forecast period. Based on therapeutic area, the market is segmented into cardiovascular diseases, neurodegenerative disorders, sleep & movement diseases, psychiatric disorders, chronic pain, gastrointestinal diseases, diabetes, respiratory conditions, and others. Amongst these segments, the neurodegenerative disorders segment is expected to grab the largest market revenue of USD 11836.7 Million by the end of 2030. The market is further segmented by application into wellness, disease diagnosis, personalized medication, and drug discovery & development. Out of these, the drug discovery & development segment is expected to hold the largest market share throughout the forecast period and register a revenue of USD 16732.40 Million by the end of 2030. Further, based on development status, the market is segmented into novel digital biomarkers, original digital biomarkers, and approved digital biomarkers. Out of these, the approved digital biomarkers segment is expected to hold the largest market revenue of USD 21105 Million by the end of 2030. The market is also segmented based on end user into biopharmaceutical companies & labs, healthcare providers, and insurance payers, out of which, the biopharmaceutical companies & labs segment is expected to hold the largest revenue of USD 29089.10 Million by the end of 2030.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global digital biomarker market that are included in our report are ActiGraph LLC, Akili Interactive Labs, Inc., AliveCor, Inc., Altoida, Inc., Biogen Inc., ConnectedLife Health Pte Ltd, Cambridge Cognition Ltd, Evidation Health, Inc., Fitbit, Inc., Happify, Inc., Human API, GlaxoSmithKline plc, Huma, IXICO plc, Kinsa Inc., Koneksa, Medical Care Corporation, Mindstrong Health, Koninklijke Philips N.V., Neurotrack Technologies, Inc., Novartis AG, ResMed, F. Hoffmann-La Roche Ltd, Winterlight Labs, Verily Life Sciences LLC, and others.
FREQUENTLY ASKED QUESTIONS
The rising demand for mobile health apps and rising penetration of smartphones & wearables are the major factors responsible for the growth of the market.
The market is anticipated to attain a CAGR of 41.22% over the forecast period i.e., 2020-2030.
Rising security concerns is one of the major factors estimated to act as barriers to the market growth.
The market in the Asia Pacific is estimated to create notable growth opportunities by growing with the highest CAGR of 44.09% over the forecast period.
The major players in the market are ActiGraph LLC, Akili Interactive Labs, Inc., AliveCor, Inc., Altoida, Inc., Biogen Inc., ConnectedLife Health Pte Ltd, Cambridge Cognition Ltd, Evidation Health, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by system component, therapeutic area, application, development status, end user, and by region.
The drug discovery & development segment is anticipated to hold the largest market size in value and is estimated to display significant growth opportunities.
Global Digital Biomarker Market, 2019–2030
Related Reports
Disclaimer | Privacy Policy | Terms & Conditions
Copyright © 2021 Research Nester. All Rights Reserved
