Digital Biomarkers Market Overview
The global biomarkers market is a growing field with various pharmaceutical firms taking complete advantage of these tools to enhance healthcare delivery to patients. The Digital Biomarkers Market is estimated to be USD 5.55 billion in 2024 and is projected to reach USD 35.8 billion in 2035.
Biomarkers play a significant role in the diagnosis and monitoring of a myriad of therapeutic indications, or responses to pharmacological interventions. Digital
Digital Biomarkers Market Segmentation
Biomarkers Market segments include Distribution by Type of Product (Software / Applications, Wearables, and Others), Purpose of Solution (Diagnosis, Early Detection, Monitoring, and Predictive Insights), Type of Biomarker (Cognitive, Idiosyncratic, Physiological, Vocal, and Others), Therapeutic Area (Autoimmune Disorders, Cardiovascular Disorders, Infectious Disorders, Mental Health Disorders, Neurological Disorders, Respiratory Disorders, Substance Abuse Disorders and Others), Business Model (B2B and B2C) and Key Geographical Regions (North America, Europe, Asia-Pacific, Middle East and North Africa, and Rest of the World).
Technological advancements have also been noted in the biomarkers market, with the development of digital biomarkers; digital biomarkers are analyzed in silico, using advanced analytical algorithms and artificial intelligence (AI) enabled tools, and thus, can be used to rapidly generate actionable insights and identify previously undetected biological events (obscured by the shortcomings of manual processes).
Foreseeing lucrative returns in the Digital Biomarkers market, many public and private investors have made investments, Leading to a surge in funding activity related to Digital Biomarkers. Around 40% of the funding instances reported in the digital biomarker domain were focused on imaging biomarkers, amounting to a total of USD 623 million. Majority of the funding instances as well as amount raised in this domain were focused on neurological disorders; in terms of amount raised, Akili Interactive emerged as a leading player, having raised more than USD 378 million, for commercial launch of solutions that can monitor and treat patients suffering from numerous neurological conditions.
The different driving factors for the digital biomarkers market include the growing prevalence of chronic diseases (requiring real-time monitoring), shift towards decentralized trials (eliminating need for frequent in-person visits by the patient) and increasing adoption of smart digital devices. In 2023, the maximum revenue generated in this domain is likely to be driven by wearables; this trend is unlikely to change in the foreseen future as well.
Various firms in the digital biomarkers domain are increasingly entering into collaborations with local and internal players to expand their capabilities.
Digital Biomarkers Market Key Players
Key players in digital biomarkers domain include AliveCor, BACtrack, Biogen, BioSensics, empatica, Eyenuk, Feel Therapeutics, icometrix, and Quibim. The rising interest in the digital biomarker domain is reflected in the wide array of partnerships established between various stakeholders in the recent past. Majority of the partnerships in this domain have been inked post-2020. Further, product / technology integration agreements emerged as the most popular type of partnership model over the years. In terms of intercontinental, as well as intracontinental, most of the deals have been inked by players based in North America. Further, companies based in the US have signed the maximum number of local deals as well as international deals.
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