Digital Biomarkers Market (By Type: Wearable, Mobile based Applications, Sensors; By Clinical Practice; By Therapeutic Area; By End-use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global digital biomarker market size was estimated at around USD 3.44 billion in 2023 and it is projected to hit around USD 25.79 billion by 2033, growing at a CAGR of 22.32% from 2024 to 2033.

Key Pointers

• North America dominated the market with the largest market share 59% in 2023.
• By Type, the wearables segment held the largest revenue share of 40% in 2023
• By Clinical Practice, the diagnosis digital biomarkers captured the maximum market share of 33% in 2023.
• By Therapeutic Area, the cardiovascular diseases category generated the maximum market share in 2023.
• By End-Use, the healthcare companies held the largest market share of 51% in 2023.
• By End-Use, the payers segment is anticipated to grow at the noteworthy CAGR of 24.53% from 2024 to 2033.

Digital Biomarkers Market Overview

The digital biomarkers market is experiencing significant growth due to advancements in technology and increasing adoption of digital health solutions. Digital biomarkers, which are measurable indicators of health and disease that are collected through digital devices, offer several advantages over traditional biomarkers, including real-time monitoring, remote patient management, and greater accuracy.

Digital Biomarkers Market Growth Factors

The growth of the digital biomarkers market is propelled by the technological advancements have led to the development of sophisticated digital health solutions, enabling more accurate and efficient monitoring of health parameters. Additionally, the increasing prevalence of chronic diseases worldwide has created a growing need for continuous remote monitoring, driving the demand for digital biomarkers. Furthermore, the integration of artificial intelligence and machine learning algorithms for data analysis has enhanced the predictive capabilities of digital biomarkers, further fueling market growth. Moreover, the COVID-19 pandemic has accelerated the adoption of digital health technologies, including digital biomarkers, as healthcare systems prioritize remote monitoring solutions to minimize in-person interactions and improve patient outcomes.

Digital Biomarkers Market Trends:

• Integration of Wearable Devices: The increasing popularity and affordability of wearable devices, such as fitness trackers and smartwatches, are driving the integration of digital biomarkers into everyday life. These devices can continuously monitor various health parameters, including heart rate, activity levels, and sleep patterns, providing valuable data for healthcare professionals and researchers.
• Focus on Mental Health Monitoring: There's a growing emphasis on leveraging digital biomarkers for the monitoring and management of mental health conditions, such as depression, anxiety, and stress. Mobile apps and wearable sensors capable of detecting changes in speech patterns, typing speed, and social media usage are being developed to provide early indicators of mental health issues.
• Remote Patient Monitoring Solutions: The shift towards value-based care and the need for remote patient monitoring solutions, particularly in light of the COVID-19 pandemic, are driving the adoption of digital biomarkers. These solutions enable healthcare providers to monitor patients' health status in real-time, improving patient outcomes and reducing healthcare costs associated with hospital readmissions.
• Personalized Medicine and Treatment Optimization: Digital biomarkers are playing a crucial role in advancing personalized medicine by enabling the identification of biomarker profiles associated with specific diseases or treatment responses. This facilitates the development of targeted therapies and treatment plans tailored to individual patients, improving treatment outcomes and reducing adverse effects.
• Advancements in Data Analytics and Artificial Intelligence: The integration of advanced data analytics techniques, such as machine learning and artificial intelligence, is enhancing the predictive capabilities of digital biomarkers. These technologies enable the analysis of large datasets to identify patterns and correlations that may not be apparent through traditional methods, leading to more accurate disease prediction and early intervention.

Type Insights

In 2023, wearables dominated the market with a commanding share of 40%. The advancement of remote data collection technologies, a cornerstone of the digital biomarker market, is expected to benefit from continuous improvements in wearable technology throughout the forecast period.

The surge in mobile application usage, a pivotal driver of digital biomarker market growth, is projected to propel mobile-based applications at a robust CAGR of 24.35%. This upward trajectory signifies an anticipated increase in mobile phone adoption, thereby driving market expansion in the foreseeable future. Moreover, the pervasive use of the internet further amplifies growth prospects in this domain. Over the forecast period, sensors are poised to compete vigorously with wearables and mobile applications.

Market participants are solidifying their foothold through strategic initiatives, such as forging alliances with regional players, aimed at expanding their customer base and delivering enhanced solutions at competitive prices. These endeavors are expected to catalyze overall market growth throughout the forecast period. A noteworthy example is the collaboration between Biogen and Apple in February 2021, wherein they joined forces to develop digital biomarkers for assessing cognitive health using the potential of iPhone and Apple Watch, particularly targeting conditions like moderate cognitive impairment (MCI).

Clinical Practice Insights

In 2023, diagnosis digital biomarkers commanded the largest market share, exceeding 33%. This dominance stems from the escalating utilization of interconnected digital devices and health-oriented mobile applications for diagnosing and monitoring various disease categories, including cardiovascular ailments, mental health conditions, neurological disorders, and diabetes. Consequently, digital biomarkers are poised to emerge as pivotal tools in future diagnostics and treatments across diverse disease domains.

Monitoring digital biomarkers exhibited the swiftest growth trajectory during the forecast period. This surge can be attributed to increased investment in wearable technology and smartwatches, promising easier and more precise access to health-related data. Furthermore, wearables developed by biopharmaceutical companies are streamlining internal processes by leveraging patient biometrics and functionalities, encompassing tracking capabilities, heart rate monitoring, sleep analysis, and disease-specific biometrics like electro-stimulation and sweat analysis. This trend is expected to propel market expansion further.

Therapeutic Area Insights

The cardiovascular diseases category currently holds the largest market share in the global digital biomarker market, driven by the increasing therapeutic applications and the preventable nature of cardiovascular disease, which remains the leading cause of death worldwide. Biofourmis, after securing USD 300 million in series-D funding and nearing the commercialization of its BioVitalsHF digital treatment for heart failure, has achieved unicorn status, poised to capitalize on the market's expansion.

The healthcare companies segment is anticipated to witness significant market growth due to a surge in investments and financing initiatives aimed at accelerating research on digital biomarkers. For example, in May 2020, Hikma Pharmaceuticals PLC invested in Altoida, Inc. following the latter's USD 6.3 million Series A investment in 2019. Altoida's technology integrates digital biomarkers with cutting-edge advancements in artificial intelligence, virtual reality, and algorithms, offering healthcare professionals a novel approach to assess patients' risk of moderate cognitive impairment and drive enhanced clinical outcomes for neurological conditions.

End-use Insights

Segmented by end-use, the market comprises healthcare companies, healthcare providers, payers, and others, including patients and caregivers. Healthcare companies held the largest market share of 51% in 2023. This dominance is a result of healthcare companies' endeavors to seamlessly integrate digital metrics throughout clinical care and research, ensuring that interconnected devices offer a holistic perspective of patient health.

The payers segment is poised to witness the swiftest CAGR of 24.53% during the forecast period. This growth is fueled by the increasing adoption of innovative digital biomarkers within insurance firms, empowering payers to meet patient demands more effectively and devise personalized care plans with pre-authorization schedules.

Regional Insights

In 2023, North America emerged as the dominant force in the market, capturing a revenue share exceeding 59%. This stronghold can be attributed to the robust presence of leading market players, substantial product launches, heightened investments in research and development, growing acceptance of smart devices, and heightened awareness regarding the efficacy of digital biomarkers within the region.

The digital biomarker market in Europe is projected to experience the most rapid growth. This surge is propelled by a rising population of individuals afflicted with chronic illnesses necessitating real-time monitoring and diagnostic solutions for various diseases. Additionally, the advanced healthcare infrastructure across European nations, coupled with a dedicated focus on research and development initiatives, is catalyzing market expansion throughout the forecast period, thereby fostering overall market growth.

Digital Biomarkers Market Key Companies

• ActiGraph LLC
• AliveCor Inc.
• Koneksa
• Altoida Inc.
• Amgen Inc.
• Biogen Inc.
• Empatica Inc.
• Vivo Sense
• IXICO plc
• Adherium Limited
• Neurotrack Technologies, Inc.
• Aural Analytic
• Huma
• Sonde Health, Inc.
• Clario
• Imagene AI
• Brainomix
• Kinsa Inc.
• Feel Therapeutics
• ResApp (Pfizer)

Digital Biomarkers Market Segmentations:

By Type

• Wearable
• Mobile based Applications
• Sensors
• Others

By Clinical Practice

• Diagnostic digital biomarkers
• Monitoring digital biomarkers
• Predictive and Prognostic digital biomarkers
• Other's (Safety, Pharmaco dynamics/ Response, Susceptibility)

By Theraeputic Area

• Cardiovascular and metabolic disorders (CVMD)
• Respiratory disorders
• Psychiatric disorders
• Sleep & Movement Disease
• Neurological disorders
• Musculoskeletal disorders
• Others (Diabetes, Pain Management)

By End-Use

• Healthcare companies
• Healthcare Providers
• Payers
• Others (Patient, caregivers)

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa