June 13, 2022 08:28 ET | Source: STRATEGIC MARKET RESEARCH LLP STRATEGIC MARKET RESEARCH LLP

New York, United States, June 13, 2022 (GLOBE NEWSWIRE) -- Digital biomarkers are regarded as physiological, quantifiable, and behavioural data that are collected & measured with the help of digital devices such as wearables, portables, digestible or implantables. The collected data is used to predict the various health-related outcomes. Based on System Components, the Smartphones and Smartwatches segment held the most significant share of around 46.11%. In terms of region, Asia-Pacific or APAC region comprehensively dominated the market, with a remarkable share of around 40.41%. 

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The report disseminated by Strategic Market Research on the Digital Biomarkers is classified based on:

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Crucial factors propelling the Market Growth:

Regarding System Components, the 'Smartphones & Smartwatches' segment held the maximum portion of the market share in the market.

Regarding System Components, the global market is classified into Biosensors, Wearables, Smartphones & Smartwatches, Implantables, Mobile applications, and Ingestables. The 'Smartphones & Smartwatches' segment held the most significant market share of around 46.11% due to its continuous rise in demand across the globe. A research study has elucidated that the overall number of users in the United States of wearable devices in 2021 was around 63.9 million, with the Apple smartwatch being the most widely used wearable device in the country.

In terms of Applications, the 'Neurodegenerative' segment led the market share in 2020

In terms of Applications, the market is ramified into Cardiovascular, Sleep and Movement Disorders, Pain Management, Gastrointestinal, Neurodegenerative, Pulmonary, Psychiatric, and Diabetic. The 'Neurodegenerative' segment held the highest market share of around 19.41% in 2020 and is expected to continue its dominance throughout the prevised time period. The persistent rise in the number of cases of neurodegenerative disorders worldwide like Alzheimer's disease, Parkinson's disease, etc., is the key factor proliferating the market growth significantly. The data from the National Institute of Environmental Health Sciences confirmed that as of 2021, the number of people in the USA suffering from Alzheimer's disease is estimated to be around 6.2 million, followed by Parkinson's disease (over 1 million patients) and multiple sclerosis (nearly 400,000 patients).

In terms of End-User, the 'Biotechnological and Pharmaceutical companies' segment held the largest proportion of market share.

Regarding End-User, the market is ramified into Biotechnological & Pharmaceutical companies, Providers, Payers, and others. The 'Biotechnological and Pharmaceutical companies' segment held the maximum share of the market in 2020. The increase in investment by these companies towards Research and Development to develop highly advanced digital biomarkers, along with their various mergers and acquisitions, are driving the overall growth of this segment.

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The Asia-pacific region led the market significantly in 2020.

The Asia Pacific territory dominated the market in all respects with nearly 40.41% of the market share. This is because of the continuous surge in population, the rise in the number of diabetic patients, and the increasing number of smart device users. The United Nations (UN) Population Fund has announced that APAC accounts for approximately 60% of the global population, which is nearly 4.31 billion in numbers. Also, as per the International Diabetes Foundation, China and India had the highest rate of diabetic patients globally in 2019, at around 116 million and 77 million, respectively.

The pertinent players in the Digital Biomarkers Market are:

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