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Digital Biomarkers Market (By System Component: Data Collection Tools [Mobile Apps, Wearable, Digital Platforms, Biosensors, and Desktop-Based Software] and Data Integration Systems; By Application: Sleep & Movement Disease, Cardiovascular Diseases, Respiratory Disease, Neurodegenerative Disorders, Diabetes, Gastrointestinal Disease, Psychiatric Disorder, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030
The global digital biomarkers market size was estimated at US$ 1.57 billion in 2021 and is expected to reach over US$ 14.58 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 28.1% from 2022 to 2030.
The rising uses of the digital biomarkers in various application areas such as diabetes, respiratory diseases, CVDs, and sleep disorders are significantly driving the growth of the global digital biomarkers market. The rising investments in the research and development of drugs are resulting in the increased cost of the drugs. Moreover, the growing prevalence of chronic diseases and growing geriatric population across the globe is fueling the demand for the digital biomarkers. The old people are more prone to the chronic diseases. The proliferation of digital technologies has resulted in an increased adoption of the various hand held and wearable digital devices, which forms a crucial part of the digital biomarkers market. The increasing usage of health informatics in the healthcare industry is fostering the growth of the global digital biomarkers market.
The necessity of the patients to regularly monitor their health conditions and have consultations is served by the digital biomarkers. Digital biomarkers can provide cost-effective and personalized treatment to ensure efficient patient care. Furthermore, along with the increasing adoption of the smart digital devices, the rapid development of the telecommunications and the IT infrastructure is fueling the digital biomarkers market growth. The rising government and corporate investments in the digitalization of the healthcare sector and development of smart hospitals is further expected to spur the demand for the digital biomarkers across the globe in the foreseeable future. The market is highly influenced by the presence of numerous market players and the digital biomarkers market has witnessed over 100 developmental strategies such as new product launches, acquisitions, and business expansion in a span of three years i.e. from 2016 to 2019. The various developmental strategies adopted by the market players are exponentially influencing the market growth.
| Report Coverage | Details |
| Market Size | US$ 14.58 Billion by 2030 |
| Growth Rate | CAGR of 28.1% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | System Component, Application, Region |
| Companies Mentioned | Bayer AG, Biogen Inc., ActigraphLLc, Amgen Inc, F. Hoffmann-La Roche Ltd, Fitbit Inc, GlaxoSmithKline Plc, Koninklijke Philips N.V., Mindstrong Health, Medical Care Corporation, Medopad Ltd |
Increasing Cost of Drug Development
The cost of the drug development has increased by 145% over the past decade. As per a study conducted by the Tufts Centers for the Study of Drug Development the average cost of drug development in present times is approximately $2.6 billion. This amount has increased from $802 million (cost of drug development back in 2003). However, the success rate of the drug development (number of drugs getting commercialized) has decreased to half and is currently estimated to be only 12% of the complete drug development process.
Out of the total expenditure, the major part of it is spent during the developmental phase and it can range anywhere between $10million-$2bilion. However, the major factor for the increasing developmental cost is the high failure rate. Almost 90% of the drugs that are developed in any particular year do not make it to the market as they are marked either ineffective or unsafe during the development.
Failure for Drugs for Neurodegenerative Disorder
As per International Agency for Research on Cancer (IARC), the three most prevalent neurodegenerative disorders in the world are Alzheimer’s disease, Parkinson’s disease, and amyotrophic lateral sclerosis (ALS). Among these three, the prevalence of Alzheimer’s is the highest, and the disease has been diagnosed in the 30% of the people (around the globe) of 85 years of age or above with annual rate of increase for the disease being 0.5% for 65-75 years age group and 6-8% for 85 years and above. The rising incidences of Alzheimer’s have resulted into increase in the number of clinical drug trials for the disease, though a large proportion of them have failed.
Regulatory Flexibility Toward Digital Health Solutions
For digital biomarkers, FDA has employed more than approach in order to increase the number of products in the market. For instance, the agency has modified its guidelines regarding the softwareas-medical-device (SaMD). The agency has launched a pre-certification program, PreCert. As per the program, FDA would approve the company and not the product manufactured by it. By this program, the agency aims to improve the entry process of a company in the market and aid in product modification process of the company. The agency has concerned itself not only with the product but also its components.
Other than the new initiatives, the agency has also revised its stand on digital health tools and FDA’s Center for Devices and Radiological Health has made a committee solely focused on the software solutions.
Explosion of Wearable Devices and Increasing Smartphone Penetration
After the Bluetooth headsets, the wearable devices are the most notable breakthrough for the wearable devices industry. Different devices such as Google Glass (Google), Apple Watch (Apple), Fitbit band (Fitbit), MotivRing, and Oculus Rift are being used in healthcare industry. The increased penetration of the wearable devices in healthcare is due to the increased self-awareness of health in the world, increasing number of patients as well as increased use of technology in every aspect of daily life.
Another technology that has made a huge impact on the quality of human life is the smartphones. The smartphones are being used for several daily chores such as banking, flight booking, and for tracking the user’s health. Several mobile health applications are available on Google Play and iOS that helps the user track their bodily functions such as sleep, heartbeat, and bodily movement. As per a recent survey 80% of the population in developed economies and 82% in developing economies are using smartphones.
Based on system component, the data collection tools segment dominated the global digital biomarkers market in 2020, in terms of revenue and is estimated to sustain its dominance during the forecast period. This is attributable to the increased adoption of the smartphones and wearable devices among the population that helps in the collection of data significantly. The wireless connectivity and internet is a major tool that facilitates easy data collection and easy transfer of the data. The biosensors constitute a major portion of the data collection tools.
Based on the application, the cardiovascular diseases segment dominated the global digital biomarkers market in 2020, in terms of revenue and is estimated to sustain its dominance during the forecast period. This is simply attributed to the increased prevalence of cardiovascular diseases among the global population. According to the World Health Organization, the cardiovascular diseases accounts for around 32% of the global deaths. It is known as the leading causes of deaths. The rising prevalence of cardiovascular diseases due to various factors like increased consumption of tobacco, unhealthy food habits, and smoking is further expected to augment the growth of this segment in the forthcoming years. The cardiovascular diseases segment accounted for over 25% of the market share in 2020. The digital biomarkers collects the patients’ data and enhances the patient care and treatment outcomes.
On the other hand, the respiratory disease segment is expected to be the fastest-growing segment during the forecast period. This is attributed to the rising prevalence of respiratory diseases like asthma and chronic obstructive pulmonary disease across the globe.
Based on region, Asia Pacific dominated the global digital biomarkers market in 2020, in terms of revenue and is estimated to sustain its dominance during the forecast period. Asia Pacific accounted for around 40% of the market share in 2020. The increased government expenditure on the development of the strong and advanced healthcare infrastructure in the region in the past few years has significantly boosted the adoption of the digital biomarkers in the Asia Pacific market. The proliferation of the digital technologies and its increasing adoption in the healthcare sector in Asia Pacific is fueling the growth of the market. Moreover, the presence of huge population and rising prevalence of chronic diseases along with the growing geriatric population is expected to exponentially augment the demand for the digital biomarkers in the foreseeable future.
North America was the second largest market in 2020. The increased healthcare expenditure along with the presence of huge geriatric population in the developed market like US is augmenting the adoption of the digital biomarker in the North America healthcare industry. The higher adoption rate of digital technologies in North America has significantly driven the market growth in the past few years and is expected to retain its position throughout the forecast period.
Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.
In October 2020, Medidata announced the acquisition of the digital biomarker segment of M10. This acquisition aimed at strengthening the position of Medidata in the digital biomarkers market.
The various developmental strategies like acquisitions and mergers fosters market growth and offers lucrative growth opportunities to the market players.
Segments Covered in the Report
By System Component
By Application
By Geography
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