What Has Been the Growth of the Digital Biomarkers Market So Far?
The digital biomarkers market has seen considerable growth due to a variety of factors.
• The market size of digital biomarkers has seen significant expansion in the preceding years. It is projected to surge from $3.92 billion in 2024 to a substantial $4.96 billion in 2025, maintaining a compound annual growth rate (CAGR) of 26.3%.
This progression during the historic period is credited to factors such as the increase in mobile health applications, early incorporation in clinical trials, surging chronic disease prevalence, consumer focus on fitness and wellness, and the ongoing digitization in the healthcare sector.
What Are the Future Growth Projections for the Digital Biomarkers Market?
The digital biomarkers market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to witness substantial expansion in the coming years, the size of the digital biomarkers market is likely to reach $12.52 billion by 2029, growing at a compound annual growth rate (CAGR) of 26.1%.
The predicted surge during the forecast period can be linked to the growing acceptance by health care providers, the rising incidence of chronic ailments, increased public awareness, and an upswing in customer interest in fitness and lifestyle tracking. The forecast period also foresees significant advancements in wearable technology, amalgamation with artificial intelligence, corporations and alliances, growth in budding markets, and the inclusion with electronic health records.
What Are The Core Factors Supporting Growth In The Digital Biomarkers Market?
The growth of the digital biomarkers market is expected to be driven by the increasing prevalence of chronic diseases. Chronic diseases are health conditions that usually develop slowly, enduring over an extended duration and often persisting for life. Age-related chronic afflictions such as osteoarthritis, Alzheimer's disease, and heart disease, coupled with high consumption of processed foods and diminished physical activity, enhance the likelihood of chronic illnesses. Digital biomarkers play a crucial role in chronic diseases by tracking health metrics and disease progression in real time, facilitating more precise and timely interventions. For instance, reports from the US-based government organization, Centers for Disease Control and Prevention (CDC.gov) in May 2023 stated that heart disease and cancer deaths summed up to 6,95,547 in 2022. This showed a rise from 6,05,213 in 2021. Thus, the escalating prevalence of chronic diseases is bound to fuel the growth of the digital biomarker market.
What Are The Major Segments Within The Global Digital Biomarkers Market?
The digital biomarkersmarket covered in this report is segmented –
1) By Type: Wearable, Mobile Based Applications, Sensors, Other Types
2) By Clinical Practice: Diagnostic Digital Biomarkers, Monitoring Digital Biomarkers, Predictive And Prognostic Digital Biomarkers, Other Clinical Practices
3) By Application: Oncology, Metabolic Disease, Neurological Disease, Cardiac Disease, Other Applications
4) By End User: Healthcare Companies, Healthcare Providers, Payers, Other End Users
Subsegments:
1) By Wearable: Smartwatches, Fitness Trackers, Wearable ECG Monitors, Continuous Glucose Monitors
2) By Mobile Based Applications: Health Monitoring Apps, Digital Therapeutics Apps, Symptom Tracking Apps, Remote Patient Monitoring Apps
3) By Sensors: Biosensors, Motion Sensors, Environmental Sensors, Implantable Sensors
4) By Other Types: Voice Biomarkers, Digital Imaging Biomarkers, Behavioral Biomarkers, Telemedicine Tools
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What New Trends Are Influencing The Digital Biomarkers Market?
The leading firms in the digital biomarker industry are leveraging tactical alliances as a method to broaden their scope and improve their services. Such strategic partnerships often indicate a cooperative venture between multiple organizations, pooling their resources, skills, and initiatives to pursue shared aims or objectives. For instance, in September 2023, ProofPilot, an American firm specializing in automated clinical trials, partnered strategically with pharmaceutical company Eli Lilly and Company. The partnership sees the integration of Lilly’s pioneering Magnol.AI sensor cloud system - secured under a pending patent - into the technological stack of ProofPilot. Magnol.AI is an advanced platform crafted to handle high-frequency sensor information securely and seamlessly. The goal of this fusion is to improve the implementation of digital health studies of superior quality, accelerating pre-competitive biomedical investigations. It enables scientists to leverage real-time data science skills and draw profound conclusions from sensor data, aligning with clinician and patient-reported outcomes to promote digital health and biomarker research.
Who Are the Key Players In The Digital Biomarkers Market?
Major companies operating in the digital biomarkers market are:
• Pfizer Inc.
• Bayer AG
• F Hoffmann-La Roche Ltd.
• Eli Lilly and Company
• Koninklijke Philips NV (Philips)
• GE Healthcare
• Biogen Inc.
• Garmin Ltd.
• Clario
• Verily Life Sciences LLC
• Altoida Inc.
• BioSerenity
• Oura Health Oy.
• Evidation Health Inc.
• AliveCor Inc.
• Empatica Inc.
• ActiGraph LLC
• VivoSense Inc.
• BioSensics LLC
• Koneksa Health Inc.
• ATCOR Medical Pty Ltd.
• Brainomix Limited
What Is The Most Dominant Region In The Digital Biomarkers Market?
North America was the largest region in the digital biomarkers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
