Blockchain Press Releases
Digital Biomarkers Market to Reach $14.7 Billion by 2032, Globally, by 2032 at a 21.3% CAGR: Allied Market Research
The global digital biomarkers market is experiencing growth due to several factors, including the rise in the prevalence of chronic diseases, an increase in the number of geriatric populations, and the benefits associated with digital biomarkers.
PORTLAND, Ore., Aug. 10, 2023 /PRNewswire/ — Allied Market Research published a report titled, “Digital Biomarkers Market by Type (Wearable, Mobile Application, Software, and Others), Application (Cardiovascular Disease, Sleep and Movement Disease, Neurological Disorders, and Others), and End User (Healthcare Companies, Hospitals, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global digital biomarkers market was valued at $2.1 billion in 2022 and is projected to reach $14.7 billion by 2032, registering a CAGR of 21.3% from 2023 to 2032.
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Digital biomarkers are quantifiable, unwavering physiological, behavioral, or environmental data that is gathered using digital platforms or equipment. These biomarkers come from various sources, including digital tools, mobile apps, sensors, and wearable technology. They offer valuable information about an individual’s health status, disease progression, response to treatment, and general well-being. By enabling remote monitoring, personalized medicine, early disease detection, and more effective healthcare interventions, digital biomarkers have the potential to completely transform the healthcare industry. They provide a data-driven strategy for managing healthcare and have the potential to greatly enhance patient outcomes and care quality.
Prime Determinants of Growth:
The global digital biomarkers market is experiencing growth due to several factors, including the rise in the prevalence of chronic diseases, an increase in the number of geriatric populations, and the benefits associated with digital biomarkers. However, the high cost associated with digital biomarkers is anticipated to hinder the growth of the market. On the contrary, the high presence of digital biomarker providers and the rise in initiatives taken by the government to develop healthcare infrastructure are expected to witness growth during the forecast period.
Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$2.1 Billion |
|
Market Size in 2032 |
$14.7 Billion |
|
CAGR |
21.3 % |
|
No. of Pages in Report |
438 |
|
Segments Covered |
Type, Application, Clinical Practice, End User, and Region |
|
Drivers |
The rise in the prevalence of chronic diseases |
|
Increase in the number of geriatric populations |
|
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The benefits associated with digital biomarkers |
|
|
Opportunities |
Rise in the number of product approvals and product launches by market players |
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Large number of market participants |
|
|
Restraints |
High manufacturing cost of digital biomarkers |
What is the Impact of Recession 2023 on Digital Biomarkers Market?
- The 2023 recession has negatively impacted the global digital biomarkers market, resulting in hiring freezes, budget cuts, or reductions in the workforce. These constraints are projected to limit the availability of skilled personnel to deploy and manage the digital healthcare system.
- However, the global digital biomarkers market is expected to recover from the negative impact of the recession as demand for new treatment options for chronic diseases rises.
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The wearable segment to maintain its leadership status throughout the forecast period-
Based on type, the wearable segment held the highest market share in 2022, accounting for more than three-fifths of the global digital biomarkers market revenue, and is estimated to maintain its leadership status throughout the forecast period. Owing to the high presence of market players who manufacture wearable digital biomarkers. However, the mobile application segment would display the fastest CAGR of 22.1% from 2023 to 2032. Due to the rise in awareness among people regarding mobile applications and digital biomarkers and the rise in prevalence of chronic diseases.
The cardiovascular diseases segment to maintain its lead position throughout the forecast period-
Based on application, the cardiovascular diseases segment held the highest market share in 2022, accounting for nearly two-fifths of the global digital biomarkers market revenue, and is estimated to maintain its lead position throughout the forecast period. Due to the rise in the prevalence of cardiovascular diseases and increased awareness among the public regarding digital biomarkers for cardiac diseases. However, the diabetes segment is projected to manifest a significant CAGR of 22.3% from 2023 to 2032. Due to the rising prevalence of diabetes.
The monitoring segment to rule the roost by 2032-
Based on clinical practice, the monitoring segment held the highest market share in 2022, contributing to nearly three-fifths of the global digital biomarkers market revenue, and is projected to rule the roost by 2032. This is due to increased awareness among the public regarding digital biomarkers for monitoring cardiac diseases and other chronic diseases. On the other hand, the diagnostic segment would showcase the fastest CAGR of 21.8% from 2023 to 2032. The growth is attributed to a rise in the usage of diagnostic digital biomarkers by healthcare providers for the diagnosis of chronic diseases.
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The healthcare consumers segment to maintain its leadership status throughout the forecast period-
Based on end user, the healthcare consumers segment held the highest market share in 2022, accounting for nearly three-fourths of the global digital biomarkers market revenue and is estimated to maintain its leadership status throughout the forecast period. This is due to a rise in adoption of healthcare consumers. However, the healthcare providers segment would portray the fastest CAGR of 22.0% from 2023 to 2032.
North America to maintain its dominance by 2032-
Based on region, North America held the highest market share in 2022, holding nearly half of the global digital biomarkers market revenue, and is likely to dominate the market during the forecast period. The growth is attributed to the high presence of digital biomarker manufacturers in North America and the rising prevalence of chronic disease. However, the Asia-Pacific region is expected to witness the fastest CAGR of 22.3% from 2023 to 2032. Owing to the rising number of geriatric populations, it is more susceptible to chronic diseases, and an increase in awareness among people regarding digital biomarkers.
Leading Market Players: –
- Actigraph Llc
- Verily Life Sciences LLC
- Alivecor
- Koneksahealth
- Amgen Inc.
- Empatica
- Sonde Health, Inc.
- Clario
- Feel Therapeutics
- Brainomix
The report provides a detailed analysis of these key players in the global digital biomarkers market. These players have adopted different strategies such as agreements, partnerships, acquisitions, and business expansion to increase their market share and maintain dominant positions in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
Comprehensive Healthcare Industry Research Studies:
Medical Tourism Market- Global Opportunity Analysis and Industry Forecast, 2022–2032
3D Cell Culture Market- Global Opportunity Analysis and Industry Forecast, 2022–2032
Neurovascular Devices Market- Global Opportunity Analysis and Industry Forecast, 2022–2032
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A new bill introduced in the U.S. House of Representatives, known as the Blockchain Integrity Act, seeks to address concerns surrounding the use of cryptocurrency mixers and tumblers. The proposed legislation aims to regulate these privacy-enhancing tools, which are often used to obscure the origins of cryptocurrency transactions.
The bill, if passed into law, would impose strict regulations on the operation of cryptocurrency mixers and tumblers within the United States. These tools, which allow users to mix their funds with those of other users to obfuscate the transaction trail, have raised concerns among law enforcement agencies and regulators due to their potential use in money laundering, terrorist financing, and other illicit activities.
Under the Blockchain Integrity Act, operators of cryptocurrency mixers and tumblers would be required to register with the Financial Crimes Enforcement Network (FinCEN) and comply with anti-money laundering (AML) and know-your-customer (KYC) regulations. Failure to register or comply with these requirements could result in significant penalties, including fines and imprisonment.
The proposed legislation also seeks to empower law enforcement agencies to investigate and prosecute individuals and entities that operate unregistered cryptocurrency mixers and tumblers. By enhancing regulatory oversight and enforcement capabilities, the bill aims to safeguard the integrity of the blockchain ecosystem and prevent the illicit use of cryptocurrencies.
However, critics argue that the Blockchain Integrity Act could stifle innovation in the cryptocurrency space and infringe on individuals’ privacy rights. They contend that while cryptocurrency mixers and tumblers can be used for illicit purposes, they also serve legitimate privacy-enhancing functions, such as protecting users’ financial privacy and security.
The introduction of the Blockchain Integrity Act reflects growing concerns among policymakers about the potential risks associated with cryptocurrencies and their use in illicit activities. As lawmakers continue to grapple with these issues, it remains to be seen how the regulatory landscape for cryptocurrencies will evolve in the United States and around the world.
Source: cointelegraph.com
The post Proposed US Blockchain Integrity Act would ban crypto mixers for 2 years appeared first on HIPTHER Alerts.
The government-owned KfW Bank, based in Germany, is delving further into its plans to issue digital bonds leveraging blockchain technology. This move underscores the institution’s commitment to exploring innovative financial solutions in the digital age.
The proposed digital bond issuance is poised to mark a significant milestone for KfW, as it seeks to embrace the transformative potential of blockchain technology. By tokenizing bonds on a blockchain platform, KfW aims to streamline the issuance process, enhance transparency, and optimize operational efficiency.
One of the key advantages of digital bonds lies in their potential to reduce the reliance on intermediaries and streamline the entire bond lifecycle. Through blockchain-based tokenization, KfW aims to automate various aspects of bond management, including interest payments and maturity settlements, thereby reducing the need for manual intervention and minimizing operational costs.
Moreover, digital bonds have the potential to enhance liquidity in the secondary market, allowing investors to trade bonds seamlessly on digital asset exchanges. This increased liquidity could attract a broader range of investors, thereby diversifying KfW’s investor base and potentially lowering borrowing costs.
In addition to the issuance of digital bonds, KfW is also exploring the integration of blockchain technology into other areas of its operations. By leveraging blockchain for various use cases, such as trade finance and supply chain management, KfW aims to unlock new efficiencies and drive greater transparency across its ecosystem.
Overall, KfW’s foray into blockchain-based digital bonds underscores its commitment to innovation and its recognition of the transformative potential of blockchain technology. As the institution continues to explore and implement blockchain solutions, it is poised to stay at the forefront of digital innovation in the financial sector.
Source: ledgerinsights.com
The post Government-owned KfW elaborates on blockchain digital bond plans appeared first on HIPTHER Alerts.
During the recent crypto bull market, blockchain education initiatives have gained significant traction as individuals seek to capitalize on the growing opportunities in the digital asset space. These initiatives aim to empower enthusiasts, developers, and professionals with the knowledge and skills needed to navigate the complex world of blockchain technology and cryptocurrencies.
As interest in blockchain continues to soar, educational platforms and programs have emerged to cater to the diverse needs of learners. These initiatives offer a wide range of courses, workshops, and resources covering various aspects of blockchain technology, including smart contracts, decentralized finance (DeFi), non-fungible tokens (NFTs), and more.
One of the key drivers behind the surge in blockchain education is the growing demand for blockchain talent in the job market. With companies across industries exploring blockchain solutions, there is a pressing need for skilled professionals who can design, develop, and implement blockchain-based applications. As a result, individuals are increasingly turning to educational initiatives to gain the necessary expertise and credentials to pursue lucrative career opportunities in the blockchain space.
Moreover, the crypto bull market has fueled interest in cryptocurrencies and digital assets, prompting individuals to seek comprehensive education on topics such as trading, investment strategies, and risk management. Blockchain education initiatives play a crucial role in providing individuals with the knowledge and tools they need to make informed decisions in the fast-paced and volatile crypto market.
In addition to traditional educational platforms, blockchain-focused communities, forums, and online resources have become invaluable sources of learning and knowledge-sharing. These communities provide a supportive environment for enthusiasts and professionals to exchange ideas, collaborate on projects, and stay updated on the latest developments in the blockchain industry.
Overall, blockchain education initiatives are playing a vital role in democratizing access to blockchain knowledge and empowering individuals to participate in the digital economy. As the crypto bull market continues to fuel interest in blockchain technology, these initiatives are expected to play an increasingly important role in shaping the future of the industry and driving innovation across sectors.
Source: cointelegraph.com
The post Blockchain education initiatives take off amid crypto bull market appeared first on HIPTHER Alerts.
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