July 22, 2020
According the report titled ‘Global Digital Biomarker Market Analysis, 2020’, available with Market Study Report LLC, global digital biomarker market is slated to register a hefty CAGR of 42% over 2020-2025.
Digital biomarkers refer to physiological data collection to identify predispositions to various complications and improve health-related outcomes. Increasing digitization across the healthcare sector and proliferation of wearable technology like fitness watch are the major growth drivers of global digital biomarker market.
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Elaborating on the application spectrum, global digital biomarker market is categorized into sleep & movement, pain management, cardiovascular, mood & behavior, respiratory ailment, and neurodegenerative disorder. The report cites that pain management segment held significant market share in 2019, driven by technological advancements in healthcare and deployment of advanced solutions such as AR/VR solutions for identifying and treating chronic pain conditions.
Meanwhile, global digital biomarker market from cardiovascular segment is set to witness considerable gains over the analysis period, attributable to the spike in incidences of cardiovascular diseases (CVDs) across the globe.
Based on type, global digital biomarker market is bifurcated into clinical trials and clinical settings. In terms of data collection, the industry is fragmented into wearable, biosensors, devices & platforms, mobile apps, and desktop-based software.
Speaking of the end user scope, global digital biomarker market is divided into biopharma firms, payers, and providers. As per the report, biopharma firms segment grasped the majority market share in 2019. However, health insurance payers segment is expected to witness strong growth over the analysis timeline, owing to growing use of digital biomarkers by payer companies to efficiently develop personalized care plans.
Geographically, global digital biomarker market is partitioned into North America (United States, Canada, Mexico), South America (Brazil, Rest of South America), Europe (Germany, United Kingdom, Italy, France, Spain, Russia, The Netherlands, Scandinavia, Rest of Europe), APAC (India, China, Japan, South Korea, Australia, Singapore, Rest of APAC), and MEA (GCC, Rest of MEA).
Some of the renowned names in global digital biomarker market are Verily Life Sciences, Amgen Inc., Takeda Pharmaceuticals, F. Hoffmann-La Roche, Pfizer, Novartis, Neurotrack Technology, IXICO plc, Happify Health, Human API, Fitbit Inc., GlaxoSmithKline plc, Evidation Health, Eli Lily, Biogen Inc., ActiGraph LLC, Akili Interactive Labs, Altoida Inc., AliveCor Inc., and Bayer AG.