Digital Biomarkers Market is Estimated to Witness High Growth Owing to Adoption in Remote Patient Monitoring

Digital biomarkers are measurable and quantifiable physiological and behavioral data such as physiological signals, physiological response, and behavior patterns that can provide holistic information to diagnose and monitor health issues.

Market Dynamics:
One of the key drivers for the growth of the digital biomarkers market is the increasing adoption of remote patient monitoring. Chronic diseases such as diabetes, cardiovascular diseases, neurological disorders etc require continuous monitoring to manage the condition effectively. With digital biomarkers, various physiological parameters of patients can be monitored remotely using devices such as wearables and mobile applications. This helps reduce hospital visits and risk of infection. According to a survey by American Hospital Association, 17% of emergency department visits in the U.S. can potentially be managed through remote patient monitoring. Further, digital biomarkers help improve treatment adherence and management of co-morbidities especially in elderly patients. However, data privacy and security concerns may limit the adoption of digital biomarkers in certain regions.

Key Takeaways

The global digital biomarkers market is expected to witness high growth over the forecast period of 2024 to 2031. Global Digital Biomarkers Market Size for 2024 is estimated at US$ 3.3 billion and is expected to reach US$ 14.6 billion by 2031, registering a CAGR of 8.0%.

Regional analysis
North America currently dominates the global digital biomarkers market, accounting for over 35% of the market revenue in 2024. Rapid adoption of digital health solutions across healthcare settings in the US and Canada is driving the growth. Asia Pacific is expected to be the fastest growing regional market over the forecast period supported by increasing smartphone and connected device penetration, growing focus on chronic disease management in countries like India, China and Japan.

Key players
Key players operating in the digital biomarkers market are Purina Mills LLC, Nutreco N.V., Roquette Freres S.A. , Evonik Industries A G, Charoen Pokphand Foods PLC, Alltech Inc., Associated British Foods Plc., Koninklijke DSM NV, BASF SE, ACI Godrej Agrovet Private Limited. The market is seeing increasing partnerships among technology companies, pharma/biotech firms to develop and validate digital biomarkers for various therapeutic areas. Funding and investments in digital biomarkers startups are also on the rise globally.

Get More Insights on this topic- https://www.marketwebjournal.com/digital-biomarkers-market-forecast-overview-and-outlook/ 


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