Published: February 2021
Advances in information technology and biomedical science have enabled the development of digital solutions for biomarkers, which, owing to the myriad of pertinent applications, are being increasingly adopted in modern healthcare practices
Roots Analysis has announced the addition of “Digital Solutions for Biomarkers Market, 2021-2030” report to its list of offerings.
Digital solutions for biomarkers are modern solutions that are capable of generating, collecting, and tracking medical data. From this data, digital biomarkers that offer insights into anatomical, physiological, and molecular events, and even behavior-related patterns in humans, have been acknowledged as viable inputs to understand, track, monitor and / or predict health-related outcomes. In the current pandemic, medical professionals are trying to identify digital biomarkers that can facilitate the successful screening / diagnosis of COVID-19 patients, remotely.
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Over 45 digital solutions for biomarkers are currently available / under development
Over 70% of the aforementioned solutions are offered either as combinations of software applications and devices or as standalone software solutions, targeting more than 30 unique target indications.
Over 85% of digital solutions for biomarkers are intended for patient monitoring purposes
Such solutions are currently available / being developed to monitor various digital biomarkers associated with neurological disorders (22%), respiratory disorders (17%), and infectious disorders (15%). In fact, over 15% of these solutions are being extensively used for monitoring patients with COVID-19.
40 global events, focused on digital solutions for biomarkers, have been organized since 2016
Around 40% of these were conferences, involving more than 25 unique organizers. Close to 50% of such events have been / are being organized in the US.
Nearly USD 950 million invested by both private and public investors in this domain
~70% of the total capital raised by digital solutions for biomarkers developers was from venture capital funding, featuring the contributions of over 150 investors. In addition, over 65% was invested in companies focused on development of physiological / vocal digital biomarkers.
Partnership activity in this field has grown at a CAGR of over 60%, between 2016 and 2020
More than 65% of the reported deals were established in the last two years (since 2019), with the maximum activity being reported in 2020. Majority of the instances captured in the report were research and development agreements (24%) and product / technology integration agreements (15%). Further, more than 40% of these agreements have been signed for digital solutions for physiological biomarkers.
North America and Europe are anticipated to capture over 65% of the market share by 2030
The market in Asia-Pacific regions is anticipated to grow at a relatively faster pace (41.03%). In 2030, digital solutions capturing vocal biomarkers are likely to represent the largest market share, in terms of revenues from product sales (37%), followed by those intended to capture physiological biomarkers (32%) and idiosyncratic biomarkers (16%).
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The USD 22.6 billion (by 2030) financial opportunity within the digital solutions for biomarkers market has been analyzed across the following segments:
The report features inputs from eminent industry stakeholders, according to whom, digital biomarkers are soon likely to witness increased adoption given their broad scope of applications and the availability of technologies that enable such biological inputs to be remotely identified and processed. The report includes detailed transcripts of the discussions held with following industry experts:
The research covers brief profiles of key players engaged in the development of digital solutions for biomarkers; other popular industry players featured in the report include:
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