The growing inclination toward the consumer wearable and mobile health app to keep a track on their health status along with rising drug development cost and flexibility provided by government toward the digital health solution is anticipated to foster the demand for the digital biomarkers in the forthcoming period. For instance, about 35% of the U.S. adult population (18-29 years age group) track their health with the help of mobile apps, while 27% of the adults own and use a wearable device for monitoring heart rate, blood pressure, physical activity.
Moreover, the ongoing COVID-19 has surged the demand for digital biomarkers as they are used as a predictive tool to collect objective, quantifiable, physiological, and behavioral data through remote, digital devices.
According to MarkNtel Advisors’ research report titled “Global Biomarker Market Analysis, 2020”, the Global Biomarker market is anticipated to grow at a CAGR of around 42% during 2020-25. Based on data collection, wearables and mobile apps captured the highest market share in the Global digital biomarker market in 2019 as these are used for data collection of health issues including blood pressure, skin conductance, mobility, posture, oxygen levels, etc. Companies are using these data collection devices to analyze data from the wearable sensors to create unique digital biomarkers reflecting the health status of patients.
Currently, gadgets such as Fitbit, Misfit, Jawbone, Apple Health, Sleep as Android, WIWE, MocaCare, etc. are gaining popularity as these wearables enable the patient monitoring their own personal wellness data. Moreover, the companies are also launching their software to ease the patient in monitor their own health, hence it is projected to propel the demand for digital biomarkers in the forecast period.
North America Witnessed as the Fastest Growing Region
North America is projected to witness a rise in the market growth on account of extensive level of smartphone and wearable technology in these regions, coupled with rise in the incidence of lifestyle-related diseases and development in the digital biomarkers in the region which is driving people to monitor their medical conditions via various data collection application. Therefore, this is strongly catalyzing the market growth of the biomarkers in the forthcoming period as stated in the MarkNtel Advisors’ research report “Global Biomarker Market Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Biomarker include Bayer AG, AliveCor Inc, Altoida Inc, Akili Interactive Labs, Actigraph LLC, Biogen Inc, Eli Lily, Evidation Health, GSK PLC, Fitbit Inc, Human API, Happify Health, IXICO PLC, Neurotrack Technology, Novartis, Pfizer, F. Hoffman- La Roche, Takeda Pharmaceuticals, Amgen Inc, Verily Life Sciences etc. The companies, through merger & acquisition, partnership, launch, collaboration, are gaining competitive advantage over the other competitors.
“Global Biomarker Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for biomarker providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go-to-Market Strategies and identifying the blue ocean for its offerings.
1. By Type (Clinical Trials, Clinical Settings)
2. By Data Collection (Wearables, Biosensors, Mobile Apps, Devices & Platforms, Desktop Based Software)
3. By Application (Sleep & Movement, Cardiovascular, Pain Management, Mood & Behavior, Neurodegenerative Disorders, Respiratory Ailment)
4. By Status (Novel, Approved, Original)
5. By End-User (Biopharma Firms, Payers, Providers)
6. By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
7. By Country (US, Canada, Mexico, Brazil, UK, Germany, Italy, France, Spain, Russia, Scandinavia, The Netherland, China, Japan, Singapore, South Korea, India, Australia, GCC),
8. By Company (Bayer AG, AliveCor Inc, Altoida Inc, Akili Interactive Labs, Actigraph LLC, Biogen Inc, Eli Lily, Evidation Health, GSK PLC, Fitbit Inc, Human API, Happify Health, IXICO PLC, Neurotrack Technology, Novartis, Pfizer, F. Hoffman- La Roche, Takeda Pharmaceuticals, Amgen Inc, Verily Life Sciences etc.)
Key questions answered in the study:
1. What are the current and future trends of the Biomarker industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Biomarker industry?
5. What is the customer orientation, purchase behavior, and expectations from the Biomarker firms across various regions?