Digital Biomarkers Market Size, Share, Growth Analysis, By Type(Wearable, Mobile based Applications, Sensors, Others), By Clinical Practice(Diagnostic digital biomarkers, Monitoring digital biomarkers, Predictive and Prognostic digital biomarkers, Others), By Therapeutic Area(Cardiovascular and metabolic disorders (CVMD), Respiratory disorders, Psychiatric disorders, Sleep & Movement Disease), By End-Use(Healthcare companies, Healthcare Providers, Payers, Others (Patient), By Region - Industry Forecast 2024-2031

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 digital biomarkers market growth is attributed to the increasing demand for telecare services remote patient monitoring, rapid development of healthcare technology, high adoption of current innovations, and higher healthcare expenditure. The market is also fueled by increased investment in decentralized clinical trials, widening therapeutic area applications, and increased new wearables in line with the increased utilization of smartphones. New innovative technology that detects indicators such as breathing, voice, heat, and eye movements makes it possible to monitor complex diseases in real time with increasing availability of smartphones and wearables. Among these, DBMs, vocal digital biomarkers, are even more new and hold a lot of scope for expansion. In June 2021, the Luxembourg Institute of Health released CoLive Voice-a digital health company with a focus on improving risk prediction, diagnosis, and monitoring of a range of chronic diseases from afar. Given that patients already carry cellphones and other devices, the above biomarkers should allow sampling with little to no burden on users, and this should be done through audio recordings. Furthermore, the past few years have also witnessed a large percentage of people using smartwatches, cellphones, and even other wearable digital technology like fitness trackers and medical wristbands. This is because the demand for wristwatches has continually increased, year in year out.

US Digital Biomarkers Market is poised to grow at a sustainable CAGR for the next forecast year.