Digital biomarker market revenue projected to reach $21,986.2 million by 2030, according to P&S Intelligence – Yahoo Finance | Region & Cash

NEW YORK, July 26, 2022 /PRNewswire/ — According to the latest market research report released by P&S Intelligence, the Digital Biomarkers Market calculated around $1,850.8 million Revenue in 2021 on track to hit $21,986.2 million through 2030, with a massive 31.6% CAGR from 2021 to 2030. During the pandemic, the emergence of mHealth applications, the integration of AI into wearable technology, and the rise of telemedicine and remote patient monitoring devices propelled the market.

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Precision medicine is based on digital biomarkers because they concretely document patient outcomes. Additionally, the healthcare system’s transition to a value-based delivery paradigm has stimulated the increased use of digital biomarkers. Improving personalized care through better analysis of patients’ health data is the main goal in the development of such technology.

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Key points of the Digital Biomarkers market report

  • Data collection tools account for over 90% of the digital biomarker market. Using these technologies, data can be collected and innovative digital biomarkers derived that are more accurate, patient-centric, therapeutically valuable, and objective than those previously collected using patient diaries and subjective rating scales.

  • With a market share of over 20%, the cardiovascular application has seen tremendous revenue growth in recent years. The incidence of cardiovascular disease is increasing rapidly, forcing the healthcare industry to monitor patients remotely.

  • Adoption of this concept in the treatment of psychiatric disorders has also accelerated due to the increasing incidence of cognitive and behavioral problems and rapid technological advances surrounding digital biomarkers. Thus, this category will grow at a rate of over 30% in the coming years.

  • APAC dominates the digital biomarkers market, which is expected to be the trend for this decade. The region has seen a significant increase in the use of digital biomarkers in recent years due to increasing government funding for state-of-the-art healthcare infrastructure.

  • Governments in LATAM and MEA have also launched a variety of digital health initiatives such as: B. Training and education projects to expand the availability of digital health resources and encourage the public to adopt this strategy.

The digital biomarker market is the most lucrative in North America, as a result of increasing healthcare spending and increasing customer demand for advanced and effective solutions. Additionally, the growth of the North American market in recent years has been significantly driven by the strong adoption of digital technologies.

Browse the detailed report on Global Digital Biomarkers Market Size and Demand Forecast Report 2030

In the field of data collection, wearables such as fitness bands and smartwatches hold the largest market share. In the treatment of cancer, cardiovascular disease, diabetes, rehabilitation and mental health, wearables from ActiGraph, Fitbit, Garmin and a variety of other brands have been successfully used to track activity intensity, step count, heart rate, blood oxygen levels, sleep-related results and sweat intensity.

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