The Digital Biomarkers Market presents unprecedented opportunities owing to growing adoption of digital health platforms
The Digital Biomarkers Market presents unprecedented opportunities owing to growing adoption of digital health platforms
Digital biomarkers utilize digital signals such data obtained from smartphones, wearable devices or implantable medical devices to provide important insights into a person's health condition

The digital biomarkers market is estimated to be valued at US$ 3.3 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 To 2031.

Digital biomarkers utilize digital signals such data obtained from smartphones, wearable devices or implantable medical devices to provide important insights into a person's health condition. They help detect various conditions through digital patterns and provide a cost-effective and non-invasive way of gathering biological data on a frequent basis. Growing investments in digital health coupled with increasing consumerization of healthcare is driving the adoption of digital biomarkers across various disease indications.

Key players operating in the digital biomarkers market are Purina Mills LLC, Nutreco N.V., Roquette Freres S.A. , Evonik Industries A G, Charoen Pokphand Foods PLC, Alltech Inc., Associated British Foods Plc., Koninklijke DSM NV, BASF SE, ACI Godrej Agrovet Private Limited. Digital health platforms collect data on various digital phenotypes including physical activity, sleep, social interactions through smartphone sensors and connected devices. This gathered data is then analyzed using machine learning and artificial intelligence techniques to derive digital biomarker signatures that help monitor diseases and predict health outcomes. The global digital biomarkers market is witnessing increased research on new digital biomarkers across therapeutic areas like oncology, neurology, cardiology among others.

Key Takeaways

Key players: The key players operating in the digital biomarkers market include Purina Mills LLC, Nutreco N.V., Roquette Freres S.A. , Evonik Industries A G, Charoen Pokphand Foods PLC, Alltech Inc., Associated British Foods Plc., Koninklijke DSM NV, BASF SE, ACI Godrej Agrovet Private Limited.

Growing demand: There is a growing demand for Digital Biomarkers Market Growth owing to advantages like continuous monitoring capabilities, low costs and non-invasive nature. Various disease indication areas like cardiology, neurology, oncology are increasingly adopting digital biomarkers.

Technological advancement: Technological advancements in mobile health, wearable devices, sensor technology and improvements in data analytics are expected to drive the digital biomarkers market. New algorithms are being researched to capture novel digital phenotypes from diverse online and remote data sources.

Market Trends

Integration with electronic health records - Many key players are investing in opportunities to integrate digital biomarker data and insights into patient's electronic health records to provide a unified longitudinal health profile. This will help clinicians and providers.

Personalized medicine applications - Growing research is being conducted on applications of digital biomarkers for personalized medicine. Phenotypes can be tracked for individual patients and treatment regimens can be accordingly customized. This represents a major trend.

Market Opportunities

Remote patient monitoring - The COVID pandemic has underscored the need for remote patient monitoring. Digital biomarkers can facilitate continuous remotely tracked parameters to supplement telehealth.

Pre-symptomatic detection - Continuous tracking of digital phenotypes provides an opportunity to detect worsening of conditions or catch diseases at pre-clinical stages through derived biomarkers before traditional symptoms arise. This can help improve health outcomes.

Impact of COVID-19 on Digital Biomarkers Market Growth

The COVID-19 pandemic has significantly impacted the growth of the digital biomarkers market. During the initial phase of the pandemic, digital health technologies witnessed rising adoption as patients deferred their non-critical hospital visits and healthcare providers shifted to virtual care. This boosted the demand for digital solutions that can continuously monitor health parameters remotely. Several digital biomarkers are being investigated for their potential to indicate the progression of COVID-19 and its longer term impacts. For instance, changes in gait, speech patterns, sleep and other digital phenotypes are under research to identify correlations with the post-acute sequelae of COVID-19. The pandemic has also accelerated regulatory approvals for digital biomarker backed solutions. While lockdowns severely disrupted product development and validation activities initially, investments are now increasing in virtual clinical trials leveraging digital endpoints. Going forward, digital biomarkers are expected to play a critical role in pandemic surveillance and management of chronic conditions affected by long COVID. However, risks remain from extended supply chain issues and changing privacy laws amid the move to decentralize care.

Digital Biomarkers Market in North America

North America accounts for the largest share of the global digital biomarkers market in terms of value. This is attributed to factors such as the high penetration of smart wireless devices, advanced telehealth infrastructure, growing investor focus on digital therapeutics and support for tech-led healthcare innovation from the government and private organizations in the region. The United States dominates the North America digital biomarkers market, owing to presence of several leading digital health companies, high healthcare spending and openness towards emerging technologies. Decentralized clinical trials are increasingly adopting digital endpoints to streamline patient recruitment and monitoring processes across different geographic locations within the country. Regionally concentrated innovator hubs sustain a vibrant startup ecosystem, encouraging continuous development of novel digital biomarkers platforms.

Digital Biomarkers Market in Asia Pacific

The Asia Pacific region is poised to witness the fastest growth in the digital biomarkers market over the forecast period. This can be accredited to the rising burden of chronic diseases, surging adoption of smartphones and improved access to high-speed internet connectivity in emerging economies. Countries like China, Japan and South Korea are at the forefront driving innovations in digital therapeutics and remote patient management. Governments across the region are proactively supporting initiatives pertaining to digitization of healthcare through favorable regulatory guidelines and funding. In addition, contract research organizations are partnering with global digital health innovators to conduct clinical endpoint validity and real-world evidence studies in Asia Pacific. Improved access to venture capital is enabling more local startups to develop culturally appropriate digital solutions. These factors are expected to fuel the expansion of digital biomarkers market across Asia Pacific in the coming years.

Get more insights on Digital Biomarkers Market

 

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

disclaimer

What's your reaction?

Comments

https://www.timessquarereporter.com/assets/images/user-avatar-s.jpg

0 comment

Write the first comment for this!

Facebook Conversations