New York, United States , Sept. 04, 2024 (GLOBE NEWSWIRE) -- The Global Digital Neuro Biomarkers Market Size is to Grow from USD 567.2 Million in 2023 to USD 5188.2 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 24.7% during the projected period.
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Digital biomarkers are behavioral, clinical, or physiological markers that digital technology can detect and study. They are built with data from wearable sensors, smartphones, and other digital devices to provide real-time insights into an individual's health and well-being. In neurology, digital biomarkers continuously monitor metrics such as movement, speech patterns, and cognitive abilities. Digital biomarkers can provide critical insights into the progression of neurodegenerative disorders such as Parkinson's disease, Alzheimer's disease, and multiple sclerosis. This method has revolutionized the way neurological conditions like Alzheimer's, Parkinson's, multiple sclerosis, and mental health disorders are monitored and treated. Digital neuro biomarkers allow for earlier symptom detection and personalized treatment plans, resulting in improved patient outcomes. The rising prevalence of neurological disorders such as Alzheimer's, Parkinson's disease, and multiple sclerosis is a major driver of the digital neuro biomarker market. As the world's population ages, the number of people affected by these conditions grows, necessitating the immediate development of improved diagnostic and monitoring tools. Traditional methods of diagnosing and tracking neurological diseases often necessitate expensive, invasive, and time-consuming procedures such as MRIs or clinical tests. Digital neuro biomarkers are a more accessible and non-invasive alternative that continuously monitors cognitive and motor functions via smartphones, wearables, and other digital tools. However, as these technologies collect sensitive neurological and behavioral data, there is growing concern that this information will be misused or inadequately protected, potentially leading to personal health data breaches and a loss of trust in digital healthcare solutions.
Browse key industry insights spread across 214 pages with 115 Market data tables and figures & charts from the report on the "Global Digital Neuro Biomarkers Market Size, Share, and COVID-19 Impact Analysis, By Type Wearable, Mobile Based Applications, Sensors, and Others), By Clinical Practice (Diagnostic Digital Neuro Biomarkers, Monitoring Digital Neuro Biomarkers, Predictive and Prognostic Digital Neuro Biomarkers, and Others), By End-use (Healthcare Companies, Healthcare Providers, Payers, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023."
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The wearable segment dominates the market with the highest market share of the global digital neuro biomarkers market during the projected period.
Based on the type, the global digital neuro biomarkers market is divided into wearable, mobile-based applications, sensors, and others. Among these, the wearable segment dominates the market with the highest market share of the digital neuro biomarkers market during the projected period. Consumers are becoming more interested in wearables that can track real-time data. The demand for new wearable devices is expected to rise as manufacturers continue to release innovative wearables and smart devices. For example, Revibe Technologies' Wearable Reminder System, a smartwatch that measures on-task behavior and sends coaching reminders during off-task behavior, can help children with ADHD regain focus.
The diagnostic digital neuro biomarkers segment is anticipated to grow at the fastest pace during the projected period.
Based on clinical practice, the global digital neuro biomarkers market is categorized into diagnostic digital neuro biomarkers, monitoring digital neuro biomarkers, predictive and prognostic digital neuro biomarkers, and others. Among these, the diagnostic digital neuro biomarkers segment is anticipated to grow at the fastest pace during the projected period. A diagnostic biomarker is used to detect or confirm the presence of a specific disease or condition, as well as to identify a specific subtype of the disease. These biomarkers are used to diagnose patients and reclassify disease categories. To maintain their market position, key companies are increasing the number of products they introduce into this segment.
The healthcare Companies segment is anticipated to grow at the fastest pace during the projected period.
Based on the end-user, the global digital neuro biomarkers market is categorized into healthcare companies, healthcare providers, payers, and others. Among these, the healthcare Companies segment is anticipated to grow at the fastest pace during the projected period. Digital biomarkers allow for continuous monitoring and personalized treatment plans, which are essential for managing conditions that require regular evaluation, such as cardiovascular disease and neurodegenerative disorders. The use of digital tools such as wearables and mobile applications has enabled healthcare providers to collect and analyze patient data more efficiently, resulting in improved patient outcomes and lower healthcare costs.
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North America is expected to hold the largest share of the global digital neuro biomarkers market over the forecast period.
North America is expected to hold the largest share of the global digital neuro biomarkers market over the forecast period. The high prevalence of neurological disorders, an aging population, substantial healthcare spending on neurological treatments, and favorable reimbursement policies for neuro-diagnostic procedures are all expected to drive market growth. The digital neuro biomarkers market in the United States accounted for a sizable portion of the North American market, thanks to significant investments in advanced technologies by key market players and technological advances in the neuroscience sector.
Europe is predicted to grow at the fastest pace in the global digital neuro biomarkers market during the projected period. The incorporation of AI and machine learning into these digital tools enhances their predictive accuracy and analytical capabilities. Supportive regulatory frameworks, increased investments in healthcare technology, and collaborations between tech companies and healthcare providers are all driving the market onward in Europe.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global digital neuro biomarkers market are Altoida Inc., Koneksa, Biogen Inc., Roche (Navify), NeuraMetrix, Merck KGaA, Linus Health, Neurotrack Technologies, Inc., Huma, NeuraLight, RCSI, Qiagen, ADx NeuroSciences NV, Enrolmmun, Thermo Fisher Scientific, and Other key vendors.
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Recent Developments
- In March 2024, Merck joined the observational LEARNS study to investigate the use of digital biomarkers in assessing and predicting disease progression in Parkinson's disease patients. By participating in this data syndication partnership, Merck gains immediate and real-time access to data and results throughout the trial, according to Koneksa, the company leading the LEARNS study.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global digital neuro biomarkers market based on the below-mentioned segments:
Global Digital Neuro Biomarkers Market, By Type
- Wearable
- Mobile-Based Applications
- Sensors
- Others
Global Digital Neuro Biomarkers Market, By Clinical Practice
- Diagnostic Digital Neuro Biomarker
- Monitoring Digital Neuro Biomarkers
- Predictive and Prognostic Digital Neuro Biomarkers
- Others
Global Digital Neuro Biomarkers Market, By End-use
- Healthcare Companies
- Healthcare Providers
- Payers
- Others
Global Digital Neuro Biomarkers Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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