According to Emergen Research, the global digital biomarkers market size was USD 1,013.09 million in 2020 and is expected to reach USD 14.44 billion in 2028 and register a revenue CAGR of 39.2% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Digital Biomarkers Market, By System Component (Data Collection Tools, Data Integration Systems), By Therapeutic Area (Cardiovascular Disease, Sleep and Movement Disease, Neurodegenerative Disorders, Psychiatric Disorder, Gastrointestinal Disease, Respiratory Disease, Diabetes, Others), By End-use (Pharmaceutical Companies, Providers, Payers), and By Region, Forecast to 2028”
According to Emergen Research, the global digital biomarkers market size was USD 1,013.09 million in 2020 and is expected to reach USD 14.44 billion in 2028 and register a revenue CAGR of 39.2% during the forecast period, 2021-2028.
Market Dynamics:
Revenue growth of the global digital biomarkers market is primarily attributed to factors such as rising burden of acute and chronic diseases across the globe and growing use of digital biomarkers in several therapeutic areas including diabetes, cardiovascular disease, respiratory disease, gastrointestinal disease, neurodegenerative conditions, and sleep disorders. A biomarker is a biological molecule present in tissues or body fluids such as blood, and it acts as a sign of a specific condition or disease.
Digital biomarkers refer to quantifiable physiological and behavioral data that is gathered and assessed by using various digital devices including implantables, wearables, portables, and digestibles. Other factors significantly contributing to the global digital biomarkers market revenue growth are increasing geriatric population, rising expenditures on healthcare products, growing use of connected digital devices and health-centric mobile apps, and increasing research & development activities for more advanced digital biomarkers.
In addition, increasing penetration of smartphones and smartwatches and increasing approvals for new products & solutions by healthcare regulatory bodies such as the USFDA are expected to further drive the global market revenue growth over the forecast period.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Cardiovascular Disease Segment Accounted for Largest Revenue Share in 2020:
Based on therapeutic area, the global digital biomarkers market is segmented into Cardiovascular Disease, Sleep and Movement Disease, Neurodegenerative Disorders, Psychiatric Disorder, Gastrointestinal Disease, Respiratory Disease, Diabetes, and Others. The cardiovascular disease segment accounted for the largest revenue share in the global market in 2020. Digital biomarkers significantly aid in treatment of cardiovascular diseases, as they provide in-depth insights into the patient’s condition. These biomarkers collect and assess data that deliver the potential for better treatment approaches and improve patient outcomes.
Pharmaceutical Companies Segment to Account for Fastest Revenue CAGR:
Based on end-use, the global digital biomarkers market is segmented into Pharmaceutical Companies, Providers, and Payers. The pharmaceutical companies segment is projected to register the fastest revenue CAGR in the global market over the forecast period. Increasing use of digital biomarkers in novel drug discovery & development processes, rising focus of pharmaceutical companies on developing more advanced therapeutics for patients with Parkinson’s or Alzheimer’s disease, and increasing government investments in pharmaceutical R&D programs are key factors driving revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
The North America digital biomarkers market dominated other regional markets in terms of largest revenue share in the global market in 2020. Increasing use of digital biomarkers in therapeutic areas including cardiovascular disease, diabetes, respiratory disease, gastrointestinal disease, and neurodegenerative disorders; rapid adoption of connected digital devices and health-centric mobile apps, rising government focus on advancing healthcare infrastructure, and presence of major market players including Fitbit Inc. and AliveCor Inc. in the region are key market growth drivers.
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Major Companies in the Global Digital Biomarkers Market Include:
- AliveCor Inc.
- Bayer AG
- Evidation Health Inc.
- Fitbit Inc.
- Happify Health
- Koninklijke Philips NV
- Neurotrack Technologies Inc.
- GlaxoSmithKline Inc.
- Novartis International AG
- F. Hoffmann-La Roche Ltd.
For the purpose of this report, Emergen Research has segmented the global digital biomarkers market based on system component, therapeutic area, end-use, and region:
System Component Outlook (Revenue, USD Billion; 2018-2028)
- Data Collection Tools
- Digital Platforms
- Mobile Apps
- Desktop-based Software
- Wearable
- Biosensors
- Data Integration Systems
Therapeutic Area Outlook (Revenue, USD Billion; 2018-2028)
- Cardiovascular Disease
- Sleep and Movement Disease
- Neurodegenerative Disorders
- Psychiatric Disorder
- Gastrointestinal Disease
- Respiratory Disease
- Diabetes
- Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Pharmaceutical Companies
- Providers
- Payers
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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