Digital Biomarkers Market Revenue to be Worth $21,986.2 Million by 2030, says P&S Intelligence

NEW YORK, July 26, 2022 /PRNewswire/ -- According to the latest market research report published by P&S Intelligence, the digital biomarkers market accounted for around $1,850.8 million revenue in 2021, which is on the way to hitting $21,986.2 million by 2030, at a massive compound annual growth rate of 31.6% from 2021 to 2030. During the pandemic, the emergence of mHealth applications, integration of AI into the wearable technology, and rise of telemedicine and remote patient monitoring devices drove the market.

Precision medicine is based on digital biomarkers because they give concrete proof of patient outcomes. Additionally, the transition of the healthcare system to a value-based delivery paradigm has stimulated the growth in the usage of digital biomarkers. The improvement of personalized care delivery via a better analysis of patient healthcare data is the main objective of creating such technology.

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Key Points of Digital Biomarkers Market Report

• Data collection tools account for an over 90% share in the digital biomarkers market. With the use of these technologies, data may be gathered and innovative digital biomarkers can be derived that are more accurate, patient-centric, therapeutically valuable, and objective than those that were previously collected using patient diaries and subjective rating scales.
• With a market share of over 20%, the cardiovascular application has experienced tremendous revenue growth in recent years. The incidence of cardiovascular illnesses is rapidly increasing, which is impelling the healthcare industry to monitor patients' remotely.
• The adoption of this concept in psychiatric disorder management has also accelerated, because of the rising incidence of cognitive and behavioral issues and the rapid pace of technological advancements in the digital biomarker environment. Thus, this category will grow at a rate of above 30% in the upcoming years.
• APAC dominates the digital biomarkers market, which is predicted to be the trend throughout this decade. The region has seen a considerable increase in the usage of digital biomarkers in recent years due to the rising government funding for a cutting-edge healthcare infrastructure.
• Governments in LATAM and MEA have also started a variety of digital health initiatives, such as training and educational projects, to expand the availability of digital healthcare resources and encourage the public to embrace this strategy.

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

Browse 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 share in the market. In the management of cancer, cardiovascular diseases, diabetes, rehabilitation, and mental health, wearables by ActiGraph, Fitbit, Garmin, and a variety of other brands have been used successfully to assess activity intensity, step count, heart rate, blood oxygen level, sleep-related outcomes, and sweating intensity.

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