Digital Biomarkers Market: Current Analysis and Forecast (2023-2030)

Digital biomarkers are data that can be collected and measured through digital devices or online platforms. They are used to assess and quantify various aspects of human behavior, cognition, and physiology, and can be used for a wide range of applications, such as diagnosing and monitoring health conditions, monitoring mental health, assessing cognitive abilities, and evaluating the effectiveness of interventions. The increasing burden of chronic diseases such as diabetes, cardiovascular conditions, and respiratory disorders has driven the demand for remote monitoring solutions like digital biomarkers to manage patients' health more effectively. According to the World Health Organization, Cancer is one of the leading causes of death worldwide, killing nearly 10 million people in 2020, or nearly one in six.

Digital biomarkers Market is expected to grow at a strong CAGR of 22% during the forecast period owing to the increasing geriatric population. For instance, By 2030, one in six people in the world will be over the age of 60. At that point, the proportion of the population aged 60 and over will increase from 1 billion in 2020 to 1.4 billion.

Based on type, the market is segmented into wearable, mobile-based applications, sensors, and others. As per our analysis, the wearable segment held a dominant share in 2022. These devices are becoming increasingly popular as they offer a non-invasive and convenient way to monitor health and can be used for a wide range of applications, including fitness tracking, disease diagnosis, and mental health monitoring. Due to these advantages offered by the wearable segment has dominating share in the digital biomarkers market.

Based on the therapeutic area, the market is segmented into cardiovascular and metabolic disorders (CVMD), respiratory disorders, psychiatric disorders, sleep & movement disease, neurological disorders, musculoskeletal disorders, and others. The cardiovascular and metabolic disorders segment is expected to grow with a higher CAGR in the digital biomarkers market during the forecast period. The growth of the cardiovascular and metabolic disorders segment is being driven by the increasing demand for non-invasive and remote monitoring solutions, the growing awareness of the importance of self-monitoring and preventative healthcare, and the development of advanced digital biomarkers that can provide accurate and reliable data.

Based on end-use, the market is segmented into healthcare companies, healthcare providers, payers, and others. As per our analysis, the healthcare providers segment held a dominant share in 2022. The growth of the healthcare providers segment is being driven by the increasing adoption of digital health technologies, the growing demand for remote monitoring solutions, and the need for more efficient and cost-effective healthcare.

For a better understanding of the market adoption of the industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Rest of World. North America is home to some of the world's leading healthcare companies and is a global leader in digital health innovation. The region has a high adoption rate of advanced technologies, including wearable devices and mobile health apps, which has created a favorable environment for the growth of the digital biomarkers market.

Some of the major players operating in the market include: ActiGraph, LLC; AliveCor, Inc.; Koneksa Health.; ALTOIDA; Amgen Inc; Biogen; VivoSense; IXICO plc; adherium.; and Neurotrack Technologies, Inc.