The global digital biomarkers market is projected to be worth USD 10.38 Billion by 2027, according to a current analysis by Emergen Research. The digital biomarkers market is observing rapid growth attributed to the growing incidence of chronic diseases. The report provides detailed insights into Digital Biomarkers market revenue trends, industry trends, consumer trends, market size, market share, market revenue growth drivers, and forecast, along with ranging impact of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in Digital Biomarkers market size over the forecast period, 2020–2028. The report includes profiles of major Digital Biomarkers players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Also included are details regarding top Digital Biomarkers market players, manufacturers, and vendors and the various strategies being deployed in the market and objectives for these strategies. The healthcare expenditure in the US reached USD 3.60 trillion in 2018, an increase of 4.6% from the previous years. This rise in spending is, to some extent, faster as compared to the increase in 2017 from 2016.
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Global Digital Biomarkers market revenue growth is primarily driven by rising focus by major companies on product portfolio expansion, entry into new and untapped domestic and international markets, rising investments my top Digital Biomarkers market players, manufacturers, and vendors in strategic agreements and contracts, and rapidly increasing competition in the Digital Biomarkers market. An increase in healthcare expenditure and increased funding for healthcare R&D are significantly driving the digital biomarkers' market growth. In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of Digital Biomarkers market share contribution of these countries. In addition, Digital Biomarkers market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries.
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Region wise performance of the Digital Biomarkers industry
North America Digital Biomarkers market revenue growth was relatively higher than that of other regional markets in 2020. North America Digital Biomarkers market revenue is expected to continue to remain dominant over the forecast period, supported by robust presence of top market players, manufacturers, and vendors, and favorable government policies and norms in countries in the region.
Asia Pacific Digital Biomarkers market revenue registered fastest growth rate in 2020, and this trend is expected to continue over the forecast period. Asia Pacific Digital Biomarkers market revenue growth is driven by significant market revenue contribution from China, India, and South Korea. China is a robust hub for top Digital Biomarkers market players, manufacturers, and vendors, as well as easy access to raw materials and workforce at more economical costs that that of other regional markets.
Europe Digital Biomarkers market revenue is expected to continue to remain steady over the forecast period, attributed to changing trends in various market and robust focus on research and development initiatives by top market players, manufacturers, and vendors to expand global footprint and drive revenues and profits.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
In terms of Digital Biomarkers market share and revenue contribution to the global Digital Biomarkers market, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in Digital Biomarkers market share.
The market intelligence report on the Digital Biomarkers Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
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Key Highlights From The Report
- In September 2020, Koneksa, a firm engaged in the development and implementation of patient-specific digital biomarkers for use in the drug development process, declared the completion of Series B funding round worth USD 16.0 Million. Koneska intends to deploy the fund for the integration of wearables and other patient-specific technologies into clinical research by expanding its digital platform.
- The low cost and improved scalability of digital biomarkers based on smartphone apps help in facilitating a prospective wealth of social, behavioral, psychological, and environmental data that were formerly inaccessible.
- Recent psychiatric assessment approaches are resource-intensive and consume substantial time for evaluation. Digital biomarkers development is considered to hod immense prospects in allowing time-sensitive, scalable, and affordable assessment of symptom changes and psychiatric diagnosis.
The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Digital Biomarkers industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Digital Biomarkers market across different regions?
- Who are the major driving forces expected to decide the fate of the Digital Biomarkers industry worldwide?
- Who are the prominent market players making a mark in the Digital Biomarkers market with their winning strategies?
- Which Digital Biomarkers industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Digital Biomarkers market?
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