The Global Digital Biomarkers Market is anticipated to reach a substantial landmark of 23.31 Billion with a CAGR of 35.71%.

New York, United States, June 13, 2022 (GLOBE NEWSWIRE) -- Digital biomarkers are regarded as physiological, quantifiable, and behavioural data that are collected & measured with the help of digital devices such as wearables, portables, digestible or implantables. The collected data is used to predict the various health-related outcomes. Based on System Components, the Smartphones and Smartwatches segment held the most significant share of around 46.11%. In terms of region, Asia-Pacific or APAC region comprehensively dominated the market, with a remarkable share of around 40.41%. 

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The report disseminated by Strategic Market Research on the Digital Biomarkers is classified based on:

By System Components

• Biosensors
• Wearables
• Smartphones & Smartwatches
• Implantables
• Mobile applications
• Ingestables 

By Applications

• Cardiovascular
• Sleep and Movement Disorder
• Pain Management
• Gastrointestinal 
• Neurodegenerative
• Pulmonary
• Psychiatric
• Diabetic

By End-User

• Biotechnological and Pharmaceutical companies
• Providers
• Payers
• Others

Regions:

North America

• USA
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• Finland
• Switzerland
• France
• Russian Federation
• U.K
• Finland
• Turkey
• Netherlands 
• Belgium
• Spain
• Italy
• Rest of Europe
  
  

Asia Pacific

• China
• India
• Japan
• Indonesia
• South Korea
• Thailand
• Singapore
• Malaysia
• Philippines
• New Zealand
• Australia
• Rest of APAC

LAMEA

• Brazil
• Uruguay
• Saudi Arabia
• Argentina
• Rest of LAMEA
  
  

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Crucial factors propelling the Market Growth:

• The continuous increase in healthcare expenditures by the worldwide governments is one of the key factors driving the market growth globally. The National Health Expenditure Accounts (NHEA), have asserted that the overall healthcare spending increased around 9.7% in 2020, thereby reaching around USD 4.1 trillion or USD 12,530 per person in the United States. As per a research study, it was also discovered that the European Union spent around 9.94% of its entire GDP on their healthcare sector, which summed up to around Euro 3,102 per person. 
  
  
• Apart from the rise in expenditures in the healthcare sectors, there has been a sharp increase in the usage of smartphones, smartwatches & wearable digital technological devices like fitness trackers and medical bracelets, which in turn is fuelling the overall market growth. As per a research study, it was stated that currently, Apple has the highest share in the smartwatch segment, at around 30.1%, followed by Samsung (nearly 10.1%). Hence, the Smartwatches have witnessed a high rise in year-on-year sales.
  
  

Regarding System Components, the 'Smartphones & Smartwatches' segment held the maximum portion of the market share in the market.

Regarding System Components, the global market is classified into Biosensors, Wearables, Smartphones & Smartwatches, Implantables, Mobile applications, and Ingestables. The 'Smartphones & Smartwatches' segment held the most significant market share of around 46.11% due to its continuous rise in demand across the globe. A research study has elucidated that the overall number of users in the United States of wearable devices in 2021 was around 63.9 million, with the Apple smartwatch being the most widely used wearable device in the country.

In terms of Applications, the 'Neurodegenerative' segment led the market share in 2020

In terms of Applications, the market is ramified into Cardiovascular, Sleep and Movement Disorders, Pain Management, Gastrointestinal, Neurodegenerative, Pulmonary, Psychiatric, and Diabetic. The 'Neurodegenerative' segment held the highest market share of around 19.41% in 2020 and is expected to continue its dominance throughout the prevised time period. The persistent rise in the number of cases of neurodegenerative disorders worldwide like Alzheimer's disease, Parkinson's disease, etc., is the key factor proliferating the market growth significantly. The data from the National Institute of Environmental Health Sciences confirmed that as of 2021, the number of people in the USA suffering from Alzheimer's disease is estimated to be around 6.2 million, followed by Parkinson's disease (over 1 million patients) and multiple sclerosis (nearly 400,000 patients).

In terms of End-User, the 'Biotechnological and Pharmaceutical companies' segment held the largest proportion of market share.

Regarding End-User, the market is ramified into Biotechnological & Pharmaceutical companies, Providers, Payers, and others. The 'Biotechnological and Pharmaceutical companies' segment held the maximum share of the market in 2020. The increase in investment by these companies towards Research and Development to develop highly advanced digital biomarkers, along with their various mergers and acquisitions, are driving the overall growth of this segment.

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The Asia-pacific region led the market significantly in 2020.

The Asia Pacific territory dominated the market in all respects with nearly 40.41% of the market share. This is because of the continuous surge in population, the rise in the number of diabetic patients, and the increasing number of smart device users. The United Nations (UN) Population Fund has announced that APAC accounts for approximately 60% of the global population, which is nearly 4.31 billion in numbers. Also, as per the International Diabetes Foundation, China and India had the highest rate of diabetic patients globally in 2019, at around 116 million and 77 million, respectively.

The pertinent players in the Digital Biomarkers Market are:

• Abbott
• AliveCor, Inc
• Alphabet, Inc
• Bayer AG
• Biogen, Inc
• Evidation Health, Inc
• Eli Lilly and Company
• Fitbit, Inc
• GlaxoSmithKline Plc
• Happify Health
• Medopad Ltd
• Mindstrong Health
• Novartis International AG
• Pfizer Inc
• Sanofi S.A
• Verily Life Sciences

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Recent Developments:

• On June 3rd, 2022, the Korean Medical AI company, VUNO, announced the results of its detailed study on the development of digital biomarker tools for the treatment of liver cancer. This AI-based digital pathology study is expected to result in the discovery of image-based digital biomarkers by means of digital pathology data & analysis of genomes & clinical records.
  
  
• On May 25th 2022, Cumulus Neuroscience, a UK-based organization, successfully launched its digital biomarker platform (multiple digital Central Nervous System (CNS) measurement tool integrated with AI analytics). This platform would enable real-world, longitudinal assessments of the disease progression for accelerating the various CNS clinical trials.
  
  
• On March 3rd, 2022, Mitsubishi Tanabe Pharma America (MTHA) collaborated with EverythingALS, an American non-profit organization focused on technological innovations in the medical field. The aim of this collaboration was to facilitate the various technological developments of digital biomarkers tools for the adequate treatment of amyotrophic lateral sclerosis (ALS). 
  
  

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