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Digital Biomarkers Market to Reach $14.7 Billion by 2032, Globally, by 2032 at a 21.3% CAGR: Allied Market Research

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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.

Request Sample of the Report on Digital Biomarkers Market Forecast 2032- Allied Market Research- https://www.alliedmarketresearch.com/request-sample/132906 

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 

The benefits associated with digital biomarkers 

Opportunities 

Rise in the number of product approvals and product launches by market players 

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. 

Want to Explore More, Connect to our Analyst- https://www.alliedmarketresearch.com/connect-to-analyst/132906 

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.   

For Procurement Information- https://www.alliedmarketresearch.com/purchase-enquiry/132906 

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:

Internet of Things in Healthcare Market- Global Opportunity Analysis and Industry Forecast, 2022–2032

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

Viral Vector and Plasmid DNA Manufacturing Market- Global Opportunity Analysis and Industry Forecast, 2022–2032

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Blockchain

Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest

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Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.

The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.

While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.

Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.

A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.

Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.

Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.

Source: cryptonews.com

The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.

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ASIC cracks down on blockchain mining firms

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Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.

According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.

The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.

ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.

In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.

While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.

Source: iclg.com

The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.

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Crypto and Blockchain Weave Deeper Into the Biometrics Space – Identity News Digest

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AuthID Inc. has formed a strategic partnership with the National Notarial Centralized Verification System (NNCVS) to integrate biometric identity verification into NNCVS’s online notary platform. NNCVS, a provider of nationwide online services for notaries, aims to transition from a local, in-person framework to a more secure, digital model. By leveraging AuthID’s platform, NNCVS will authenticate the identities of notarial agents and their clients using biometric checks that compare selfies with ID document photos. This enhancement ensures heightened security throughout users’ interactions with the service.

iVALT has introduced a mobile app called OnDemandID, designed to enable users to verify the identity of individuals during phone calls, video calls, or online interactions with a single click. The app employs multiple verification elements, including biometrics, device ID, and location-based parameters like geofencing and time windowing, to prevent deepfake attacks and identity fraud. OnDemandID prioritizes user privacy by storing biometric data locally on the device and refraining from tracking user movements. Additionally, iVALT offers integration into existing enterprise mobile apps, providing a solution to enhance caller verification processes within corporate environments.

Keyless, a company specializing in secure facial recognition, has partnered with EnQualify, an AI-powered Know Your Customer (KYC) verification provider, to enhance online identity verification. Keyless’s privacy-centric ZKB technology will integrate with EnQualify’s AI for initial user verification, enabling a seamless and secure authentication process. This collaboration eliminates the need for repetitive steps and data storage, offering a faster and more user-friendly verification experience while ensuring robust security measures.

Australian fintech Waave has launched its Wallet app to enhance security and convenience for online payments. Integrated with Waave’s Pay by Bank system, Wallet utilizes fingerprint or facial recognition for secure authentication, eliminating the need for passwords and card details. This approach addresses concerns about online fraud, providing a streamlined payment process for consumers and merchants alike. Additionally, Wallet will introduce expense tracking features later in 2024, further enhancing its utility for users.

BeatBit Wellness Lab has introduced the CUDIS ring, a wearable device focused on user-controlled health data management. Powered by Solana blockchain technology, CUDIS tracks biometric data and offers personalized health insights using AI algorithms. Users can contribute anonymized data to a research network and earn rewards, emphasizing data ownership and privacy. The CUDIS ring integrates securely with other Solana and Web3 products, offering users a comprehensive health monitoring solution within the decentralized ecosystem.

Worldcoin has unveiled World Chain, a new blockchain platform designed to prioritize verified human users over bots, aiming to reduce network congestion and transaction fees. Integrated with the Worldcoin protocol’s Proof of Personhood, World Chain provides verified users with priority blockspace and gas allowances. This Layer 2 solution, secured by Ethereum, offers developers access to a large pool of verified users for deploying utility applications. World Chain is set to be open source and permissionless, with plans for community-based governance in the future.

New South Wales (NSW) has launched an Australia-first trial to test digital birth certificates, involving over 18,000 children associated with specific educational institutions. Led by the NSW Registry of Births, Deaths and Marriages in collaboration with the Department of Customer Service, the pilot explores the use of digital certificates with the same legal validity as traditional paper versions. Digital birth certificates aim to simplify administrative tasks and offer enhanced security and convenience, particularly in disaster-prone areas where paper documents could be compromised.

Source: findbiometrics.com

The post Crypto and Blockchain Weave Deeper Into the Biometrics Space – Identity News Digest appeared first on HIPTHER Alerts.

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