Global Digital Biomarkers Market

Digital Biomarkers Market Size, Share, Growth Analysis, By Type (Wearable, Mobile based Applications), By Clinical Practice (Diagnostic digital biomarkers, Monitoring Digital Biomarker), By End-Use (Healthcare companies, Payers), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35G2218 | Region: Global | Published Date: August, 2024
Pages: 219 | Tables: 128 | Figures: 77

Digital Biomarkers Market News

  • In March 2024, Koneksa, a healthcare technology company specializing in evidence-based digital biomarkers, revealed that Merck, known as MSD outside of the United States and Canada, has joined its Data Syndication Partnership program for the LEARNS observational study. This study aims to create digital biomarkers in neurodegenerative disorders using smartphone-based assessments and wearable technologies. As a participant in the program, Merck researchers will have immediate access to data and findings from the ongoing study. 
  • In March 2024, a top medical technology company called Indivi, based in Basel, Switzerland, teamed up with Biogen to improve digital health tools for Parkinson's disease. As part of this collaboration, Biogen agreed to let Indivi use their KonectomTM platform. KonectomTM is a smartphone app that tracks neurological functions from a distance, allowing for more accurate and frequent monitoring of how Parkinson's disease progresses. 
  • In February 2024, Lifespan Sports Medicine Center Clinic LLC (Lifespan), a top provider of sports medicine and wellness services in the UAE, has partnered with Healthspan Digital Inc, a Canadian HealthTech company. Together, they're introducing a new program called Healthspan, which is all about helping people live longer, healthier lives. This program will offer memberships and focus on preventive care, tailored fitness plans, and strategies for healthy aging. Their goal is to change how people think about staying healthy and promote longevity through personalized approaches.
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Global Digital Biomarkers Market size was valued at around USD 2.43 billion in 2022 and is expected to rise from USD 2.96 billion in 2023 to reach a value of USD 14.44 Billion by 2031, at a CAGR of 21.9 % over the forecast period (2024–2031). 

The nature of the global digital biomarkers market is characterized by intense competition and rapid technological advancements. Companies operating in this market are focusing on product innovation, partnerships, collaborations, and mergers and acquisitions to gain a competitive edge. Companies are investing in R&D to develop new and innovative products that offer advanced features and capabilities. 'ActiGraph LLC (US) ', 'AliveCor Inc. (US) ', 'Koneksa (US) ', 'Altoida Inc. (US) ', 'Amgen Inc. (US) ', 'Biogen Inc. (US) ', 'Empatica Inc. (US) ', 'IXICO plc (UK) ', 'Adherium Limited (New Zealand) ', 'Neurotrack Technologies, Inc. (US) ', 'Aural Analytics (US) ', 'Huma (UK) ', 'Sonde Health, Inc. (US) ', 'Clario (US) ', 'Imagene AI (Israel) ', 'Brainomix (UK) ', 'Kinsa Inc. (US) ', 'Solve.Care (Estonia) ', 'HIVE Blockchain Technologies Ltd. (Canada) ', 'Encrypgen (US) ', 'Sana Benefits (US) ', 'Healthereum (US) ', 'Patientory (US) '

The rising incidence of chronic diseases such as diabetes, cardiovascular diseases, and cancer is driving the demand for digital biomarkers, as they can help in early detection and management of these conditions.

Wearables and mobile health apps: Wearables and mobile health apps are becoming increasingly popular among consumers and healthcare providers, as they enable continuous and remote monitoring of patients. This trend is driving the growth of the digital biomarkers market, as these devices generate a large amount of data that can be used to develop digital biomarkers.

North America dominated the market and held a revenue share of over 59.0% in 2022, which can be attributed to the region's enhanced awareness of the efficacy of digital biomarkers as well as the region's substantial number of key market players, significant product launches, increase in investment in research and development, and growing acceptance of smart devices. A few other key factors for this area to forecast market expansion include the increasing number of initiatives to improve healthcare IT and the existence of healthcare programmers. Additionally, it is anticipated that the market in North America will be driven by the strategic initiatives of the region's market participants and significant R&D expenditure.

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Global Digital Biomarkers Market

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