Global Digital Biomarker Market TOC
Digital Biomarkers Market size is poised to surpass USD 83.8 Billion by the end of 2035, growing at a CAGR of 32.15% over the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of digital biomarker was USD 2.2 Billion. 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.
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.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
32.15% |
|
Base Year Market Size (2022) |
USD 2.2 Billion |
|
Forecast Year Market Size (2035) |
USD 83.8 Billion |
|
Regional Scope |
|
Therapeutic Area (Cardiovascular Diseases, Neurodegenerative Disorders, Sleep & Movement Diseases, Chronic Pain, Gastrointestinal Diseases, Diabetes, Respiratory Conditions)
The neurogenerative disorder segment in the digital biomarkers market is estimated to gain the largest revenue of USD 21.6 billion in the year 2035 by growing at a remarkable CAGR of 32.95% 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.
Application (Wellness, Disease Diagnosis, Personalized Medication, Drug Discovery & Development)
Digital biomarkers market from the drug discovery & development segment is expected to grow at a CAGR of 32.69% to garner a revenue of USD 30.5 billion in the year 2035. 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.
Our in-depth analysis of the global market includes the following segments:
|
Component |
|
|
Therapeutic Area |
|
|
Application |
|
|
End User |
|
North American Market Forecast
The digital biomarkers market in North America is projected to reach USD 37.8 billion by the end of 2035. The market in the region gained a revenue of USD 1 billion in 2022. 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.
Europe Market Statistics
The European digital biomarkers market is estimated to be the second largest, registering a revenue of USD 23.2 billion by the end of 2035. The market is expanding rapidly as a result of increased government assistance in major European countries such as Germany, the United Kingdom, Spain, and Russia. Increased government initiatives promoting mHealth are also expected to open up new opportunities for regional manufacturers. Moreover, the government is also working to propel the adoption of digital health in the region. The government established the European Health Data Space (EHDS) in 2022, allowing people across Europe to control and use their health data in their own nation.
Author Credits: Radhika Gupta, Shivam Bhutani
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?