DUBLIN--(BUSINESS WIRE)--The "Global Digital Biomarkers Market: Focus on Key Trends, Growth Potential, Competitive Landscape, Components, End Users, Application (Sleep and Movement, Neuro, Respiratory and Cardiological Disorders) and Region - Analysis and Forecast, 2019-2025" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Biomarkers Market Report projects the market to grow at a significant CAGR of 40.39% during the forecast period from 2019 to 2025
There are multiple factors that drive the market, such as the surge in the demand for mobile health apps and consumer wearable technology specifically for tracking health. For instance, as of 2019, about 35% of the U.S. adult population (18 to 29 years) track their health with the help of mobile apps while 27% of the adults own and use a wearable device for monitoring heart rate, blood pressure, physical activity, or other vitals.
Global Digital Biomarkers Market Segmentation
The Global Digital Biomarkers Market can be segmented on the basis of component type, application, end-user, and region. As of 2018, biopharma companies held an estimated 57% of the global digital biomarkers market. Numerous collaborations and partnerships were witnessed in 2017 and 2018, aimed at developing digital solutions for the clinical assessment of various disorders such as cardiovascular, neurodegenerative, and respiratory. Some of the notable biopharma companies engaging in partnership activities include Takeda, Biogen, and Sanofi among others. A significant contribution was also witnessed by healthcare providers, who held an estimated 42% of the global digital biomarkers market in 2018.
During the forecast period (2019-2025), the health insurance payers are expected to evolve as the largest end-user segmented in the global digital biomarkers market. The growth rate for this segment is expected to be 44.04% during the forecast period. This high growth rate is primarily due to the increasing use of digital biomarkers by payer groups to effectively devise individualized care plans.
In terms of region, Asia-Pacific is the largest market in the digital biomarkers space and is expected to remain the same during the forecast period. North America is also contributing to the growth of this space. The elevated level of smartphone and wearable technology in these regions, as well as the high incidence of lifestyle-related diseases, are pushing consumers in the region to monitor their medical conditions.
However, during the forecast period, Europe is expected to attain the highest CAGR of 41.99%. The growth is primarily due to increase standardization and collaboration among key stakeholders in the industry.
Key Questions Answered in the Report:
- What is the total addressable market (TAM) and the potential market opportunity for the global digital biomarkers market?
- What are the major market drivers and challenges of, and the opportunities in, the global digital biomarkers market?
- What is the market share of the leading segments and sub-segments of the global digital biomarkers market in 2019 and 2025?
- How did the global digital biomarkers market evolve?
- How is each segment of the global digital biomarkers market expected to grow during the forecast period and what is the expected revenue to be generated by each of the segments by the end of 2025?
- What are the consumer preferences in terms of the adoption of wearable technology for the assessment of medical conditions?
- What are the key developmental strategies implemented by the key players to stand out in this market?
- What is the preferred business model used for building digital biomarkers?
- Which area of application is expected to be the highest revenue generator in the global digital biomarkers market during the forecast period?
- Which end-user segment is expected to be the highest revenue generator in this industry during the forecast period?
- What is the potential of the global digital biomarkers market in emerging countries during the forecast period?
- Increasing Cost of Drug Development
- Failure for Drugs for Neurodegenerative Disorder
- Regulatory Flexibility Toward Digital Health Solutions
- Explosion of Wearable Devices and Increasing Smartphone Penetration
- Test and Validation
- Addressing Biases
- Validation Testing
- Cost and Usability
- Personalized Medicine
- Investment in Voice-Based Digital Biomarkers
- Investment in Wearable Technology
- Early Detection of Neurological Disorders
- For General Health Management
- Metabolic, Cardiovascular, and Gastrointestinal Health
- Maternal, Pre- and Neo-Natal Care
- Pulmonary Health and Environmental Exposures
- ActiGraph, LLC.
- Akili Interactive Labs
- AliveCor Inc.
- Altoida Inc.
- Amgen Inc
- Bayer AG
- Biogen Inc
- Eli Lilly and Company
- Evidation Health, Inc
- F. Hoffmann-La Roche Ltd
- Fitbit, Inc.
- Happify Health
- Human API
- IXICO Plc
- Neurotrack Technology, Inc
- Pfizer Inc.
- Takeda Pharmaceuticals
- Verily Life Science LLC
For more information about this report visit https://www.researchandmarkets.com/r/y2g7gl