Market Research Report
Global Vocal Biomarkers Market with COVID-19 Impact analysis By Type (Amplitude, Error rate, Frequency, Phonation time, Pitch, Vocal rise or fall time, Voice tremor) By Indications, By End Users, & By Region - Size, Share, & Forecast from 2021-2027
|Global Vocal Biomarkers Market with COVID-19 Impact analysis By Type (Amplitude, Error rate, Frequency, Phonation time, Pitch, Vocal rise or fall time, Voice tremor) By Indications, By End Users, & By Region - Size, Share, & Forecast from 2021-2027|
Published: August 1, 2021
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The Global Vocal Biomarkers market size was valued at USD 1,360.4 million in 2020 and is projected to reach USD 2,300.8 million by 2027, expanding at a CAGR of 14.3% during the forecast period, 2021-2027. One of the primary elements driving market expansion is rising demand in emerging economies.
Advances in the medical sector have led to the creation of a unique speech analysis approach that has the potential to be utilized as a biomarker for mental illnesses, neurological disorders, cardiovascular problems, and other medical conditions. There has recently been a trend toward using speech analysis to better understand neuropsychiatric disorders and other conditions. As a result, medical practitioners may use voice indicators to diagnose disorders ranging from stress to depression to cardiovascular disease.
Vocal biomarkers offer a number of benefits that increase their market demand. The necessity for early illness diagnosis, particularly in developed and emerging nations, is one of the most essential reasons. Furthermore, it is now one of the most cost-effective methods for illness diagnosis. The worldwide vocal biomarkers market is expected to be slowed by these two issues.
Vocal biomarkers, which aid in the detection of mental and neurological diseases, are attracting the attention of pharmaceutical firms all over the world. Some diseases, such as Parkinson's, Alzheimer's, and Schizophrenia, are discovered later in the course of the disease, preventing doctors from taking aggressive treatment measures. For pharmaceutical companies, voice biomarkers can aid in early diagnosis, boosting sales of their products. Vocal biomarkers can also be used to identify lies, in addition to healthcare. When interrogating a criminal, they are extremely valuable in defense and security organizations. Vocal biomarkers account for 38% of the analysis in a lie detection test, according to officials from international security organizations. This is a critical aspect that will drive demand for voice biomarkers in the future.
During the predicted period, the vocal tremor category will see a considerable increase. It's a neurological condition that causes muscles in the neck and vocal cords to move involuntarily. The segmental expansion will be fueled by the rising prevalence of neurological disorders and the increasing use of vocal tremors in neurological disorders.
Because of the growing frequency of respiratory diseases such as asthma, the respiratory disorders sector is expected to develop rapidly in the future years. Asthma affects about 235 million people worldwide, according to WHO estimates from 2017. In the future years, further research into the use of voice biomarkers in asthma is likely to drive market growth.
During the projection period, the hospital and clinics segment will increase at a profitable rate. Mayo Clinic in Minnesota is tracking voice biomarkers to better remote health monitoring of heart disease patients. The clinic is collaborating with Beyond Verbal, an Israeli firm, to assess the speech of patients with coronary artery disease. In addition, Humana, Aetna, and the Blue Cross Blue Shield Association use voice biomarkers to detect sadness and stress in callers. Such efforts have a beneficial influence on the growth of a company.
The market for vocal biomarkers in North America is expected to expand considerably due to the region's well-established healthcare facilities and technological advances. Patients will benefit from rising favorable reimbursement policies and increased healthcare spending, which should support regional prosperity.
Beyond Verbal, Boston Technology Corporation, Cogito Corporation, IBM Corporation, Sonde Health, and Microtest Health are among the companies that operate in the vocal biomarkers industry. Companies are concentrating their efforts on academic partnership and the introduction of innovative products. Beyond Verbal, for example, developed an API in June 2017 to allow voice-based emotion recognition with reference to virtual personal assistants. The company is focusing on speech recognition software to identify human emotion, as well as developing a cloud-based API engine to interface with virtual personal assistants, which will help the sector expand.
Key features of the study:
This proposed research study on Global Vocal Biomarkers market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2020-2027), considering 2019 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Global Vocal Biomarkers market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Global Vocal Biomarkers market
Impact of COVID-19 on Global Vocal Biomarkers market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Global Vocal Biomarkers market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Global Vocal Biomarkers market, we have also included competitive landscape and key innovator analysis for the Global Vocal Biomarkers market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Global Vocal Biomarkers market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new product launch, research & development, regional expansion of major participants involved in the Global Vocal Biomarkers market on global as well as regional level.
The global Global Vocal Biomarkers market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL VOCAL BIOMARKERS MARKET KEY PLAYERS
Boston Technology Corporation
GLOBAL VOCAL BIOMARKERS MARKET, BY TYPE
Vocal rise or fall time
GLOBAL VOCAL BIOMARKERS MARKET, BY INDICATIONS
Traumatic brain injury (TBI)
GLOBAL VOCAL BIOMARKERS MARKET, BY END USERS
Hospitals and clinics
GLOBAL VOCAL BIOMARKERS MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures