Digital Biomarker Market Industry Revenue, Future Prospect, and Regional Outlook 2035

Research Nester’s recent market research analysis on “Digital Biomarker Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global digital biomarker market in terms of market segmentation by component, therapeutic area, application, end user, and by region.

Government Initiatives to Boost Medical Technology to Promote Global Market Share of Digital Biomarker

The global digital biomarker market is estimated to grow majorly on account of the greater government initiatives, rising demand for sophisticated medical technology, internet penetration, and other factors. The world’s millennial population is growing, and rates of sleep problems and neurodegenerative disorders are rising due to increased stress levels among the region’s working professionals. Almost one-third of Millennials blame their lack of sleep for worrying about all the things they need to do or do not get done. Besides this, rising patient knowledge of diagnosis and rising disposable wealth are driving a rapid increase in the use of digital biomarkers by laboratories. Moreover, there has been a fast increase in the number of standalone biopharmaceutical firms and diagnostic laboratories that are providing full biomarker solutions.

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Some of the major growth factors and challenges that are associated with the growth of the global digital biomarker market are:

Growth Drivers:

· Advancement in Medical Technology

· Rising Need for Digital Drug Delivery

Challenges:

Cyber-attacks have previously been documented to expose patients to privacy breaches and safety issues, which has a substantial impact on the adoption rate of digital biomarkers. Most healthcare organizations that use digital biomarkers are currently governed by the Health Insurance Portability and Accountability Act (HIPAA). However, HIPAA is not relevant when patients interact personally with these technologies. Furthermore, networked software products are constantly vulnerable to cybersecurity threats, which are the most common risks in the market.

By therapeutic area, the global digital biomarker market is segmented into cardiovascular diseases, neurodegenerative disorders, sleep and movement diseases, chronic pain, gastrointestinal diseases, diabetes, respiratory conditions. The neurogenerative disorder segment is to garner a highest revenue of USD 21.6 billion by the end of 2035 by growing at a significant CAGR over the forecast period. The rising effort by companies to use biomarkers for conducting the study of specific treatments is driving the growth of the segment. In 2021, nQ Medical, a US-based startup, presented its first findings from its COBRE Phase II proof-of-concept (PoC) research. The study’s goal was to determine cognitive impairment in mild-moderate Alzheimer’s disease (AD) patients. In the course of the assessment process, the company used a digital biomarker called nQi cog and its own technology platform called neuroQWERTY (nQ).

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By region, The Asia Pacific market, among all other regions, is estimated to have a market value of USD 16.5 billion by the end of 2035, increasing at the highest CAGR of 33.84% over the projected time frame. One of the key causes fueling digital biomarker adoption in the region is China’s, Japan’s, and India’s tremendous desire for innovative products. The market’s top companies are now focusing on expanding their presence in high-growth markets throughout Asia-Pacific, including China, India, Japan, South Korea, Australia, and Singapore. Furthermore, the penetration of the internet in the region is boosting the adoption of digital health which is also expected to augment the market growth in the region.

This report also provides the existing competitive scenario of some of the key players of the global digital biomarker market which includes company profiling of nQ Medical, ALTOIDA, ActiGraph, LLC., VivoSense, EVOCAL Health GmbH, Koneksa Health, Cosinuss GmbH, Biofourmis, Lunit Inc., and IMVARIA Inc.

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