Digital Biomarkers Market Expected to Reach $14.7 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Digital Biomarkers Market," The digital biomarkers market was valued at $2.1 billion in 2022, and is estimated to reach $14.7 billion by 2032, growing at a CAGR of 21.3% from 2023 to 2032.

Digital biomarkers are physiological, behavioral, or clinical markers that may be measured and studied using digital technology. Digital biomarkers are further subdivided into active and passive biomarkers. Active digital biomarkers are gathered during prompted actions. They are captured and generated by smartphones, tablets, and other devices when a person interacts with the device in response to an active prompt.

Passive digital biomarkers are digital biomarkers that are collected simply when person wears a wearable device during unnoticed actions. In digital biomarkers, Gait and speech changes, loss of natural motions, and slower movement may all be digitally evaluated to show the existence of nervous system illnesses like Parkinson's disease. Some examples of digital biomarkers are sensors, wearables devices and mobile applications.

Rise in adoption of key strategies such as product launch, product approval, business expansion, and others by market players of digital biomarkers drives the growth of digital biomarkers market. For instance, February 2022, AliveCor, the leading innovator in FDA-cleared personal electrocardiogram (ECG) technology, announced the launch of KardiaMobile Card. It is the slimmest, and the most convenient personal ECG device. At the size of a standard credit card, KardiaMobile Card fits easily into any wallet and delivers a medical-grade, single-lead ECG in 30 seconds.

Moreover, in March 2023, brainTale, a biotechnology research company, announces the new release of its CE-marked version of the brainTale-care digital biomarker platform under European regulation. BrainTale-care is a clinically evaluated software medical device available in Software as a Service (SaaS) mode for physician. It provides reliable, reproducible, and quantitative measurement of the brain.

In addition, rise in strategic partnerships for development of digital biomarker business boost the growth of the market. For instance, in March 2023, Koneksa, the evidence-based digital biomarkers company, announced an extended partnership with SSI Strategy, a life sciences consulting firm, that will provide both organizations with expanded client service offerings to accelerate and scale the adoption of evidence-based digital biomarkers in clinical trials. Moreover, benefits associated with digital biomarkers is anticipated to fuel the growth of the digital biomarkers markers market. For instance, digital biomarkers enable early diagnosis, and it reduces the cost of personalized remote patient care and allows for better self-management. This, in turn, boosts the growth of the market.

Moreover, clinical trials and digital biomarkers are an extremely powerful duo. ‍Smartphones and wearable technology provide objective and continuous digital biomarkers that increase clinical trial efficiency in data collection and analysis for medication development and patient monitoring. Thus, technological advancement in healthcare sector is anticipated to drive the growth of the digital biomarkers market.

However, factors anticipated to restrain the growth of the market include high cost associated with setting up a manufacturing unit and marketing for digital biomarkers. In addition, lack of awareness in population regarding digital biomarkers and availability of substitutional options such as diagnostic tests, and others are anticipated to hamper the growth of the market.

In addition, there has been a notable rise in awareness among people regarding digital biomarkers in recent years. The digital health industry has gained significant momentum, with advancements in wearable devices, mobile applications, and remote monitoring technologies. This expansion has brought digital biomarkers into the spotlight, as they offer personalized health insights and the potential for proactive healthcare management. Thus, increase in awareness among the people regarding digital biomarkers is anticipated to drive the growth of the market.

By type, the digital biomarkers market size is classified into wearable, mobile application, software, and others (sensor, card and implantable). The wearable segment is expected to be the fastest growing segment during the forecast period owing to rise in number of product approvals for wearable and rise in adoption of wearable digital biomarker by population. 

By application, the digital biomarkers market size is classified into cardiovascular disease, sleep and movement disease, neurological disorders, and others (respiratory diseases, diabetes, psychiatric and musculoskeletal disorders). The cardiovascular disease segment is projected to be the fastest growing segment during the forecast period owing to rise in prevalence of cardiovascular diseases and high in number of product provision of digital biomarkers for cardiovascular disease monitoring and diagnosis.

By clinical practice, the digital biomarkers market share is classified into monitoring, diagnostic and prognostic. The monitoring segment is projected to be the fastest growing segment during the forecast period owing to rise in adoption of digital biomarkers for monitoring purpose and hogh presence of manufacturers who manufactures digital biomarkers for monitoring.

By end user, the digital biomarkers market analysis is classified into healthcare companies, hospitals, and others (payers and patients). The healthcare companies segment is projected to be the fastest growing segment during the forecast period owing to rise in number of clinical trials and research activities using digital biomarkers by healthcare companies.

Region-wise, North America held the highest digital biomarkers market trends in 2022 and is expected to maintain its lead during the forecast period owing to high presence of market players who manufacture digital biomarkers and rise in number of products approvals and product launches of digital biomarkers. However, Asia-Pacific is expected to exhibit fastest growth of digital biomarkers market forecast, owing to increase in prevalence of chronic disease and rise in awareness among people regarding digital biomarkers.

Key findings of the study

• By type, the wearable segment dominated the digital biomarkers industry in 2022.
• By application, the cardiovascular disease segment dominated the digital biomarkers industry in 2022.
• By clinical practice, the monitoring segment dominated tha market in 2022.
• By end user, the healthcare companies segment dominated the market in 2022.
• By region, North America dominated the market in 2022 and is expected to grow during the forecast period.