Global Vocal Biomarkers Market, by Therapeutic Application (Psychological Disorders, Respiratory Disorders, and Cardiovascular Disorders), by End User (Hospitals, Health Insurers, Academic & Research Institutions, and Government Organizations), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is expected to be valued at US$ 1,357.7 million in 2019, and is expected to exhibit a CAGR of 15.5% over the forecast period (2019 – 2027), as highlighted in a new report published by Coherent Market Insights.
Increasing prevalence of cardiovascular, psychological, and respiratory disorders to augment the market growth
Increasing prevalence of cardiovascular, psychological, and respiratory disorders is expected to drive growth of the vocal biomarkers market. For instance, according to the National Institute of Health (NIH), about 23.5 million population of the U.S. suffered from Alzheimer's Disease (AD). Moreover, annual direct health care cost for AD is estimated to be around US$ 100 Bn.
Moreover, key players are adopting strategies such as partnerships to expand their product offerings in the market, which is expected to boost the market growth over the forecast period. For instance, in July 2019, Winterlight Labs Inc, entered into a collaboration with Alector, in order to develop vocal biomarkers that can be used for monitoring disease progression in frontotemporal dementia (FTD) patients. Furthermore, in 2016, Massachusetts Institute of Technology Lincoln Laboratory (MIT LL) and the U.S. Army Medical Research and Materiel Command (USAMRMC) collaboratively developed a computer algorithm to identify vocal biomarkers, which can diagnose mild traumatic brain injury (TBI).
Browse 27 Market Data Tables and 22 Figures spread through 166 Pages and in-depth TOC on ‘Vocal Biomarkers Market’- Global Forecast to 2027, by Therapeutic Application (Psychological Disorders, Respiratory Disorders, and Cardiovascular Disorders), by End User (Hospitals, Health Insurers, Academic & Research Institutions, and Government Organizations), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Increasing research on vocal biomarkers in order to evaluate their effectiveness in disease diagnosis is expected to drive the market growth. For instance, in June 2019, Geisinger conducted a study, in which algorithm for vocal biomarkers was tested. This algorithm detects severity in patients with chronic obstructive pulmonary disease.
Key players operating in the market are focused on research and development activities, in order to expand their product offerings in potential markets. For instance, in September 2016, Beyond Verbal launched a mHealth Research Platform to identify the physiological markers through voice that may indicate health-related issues.
Key Takeaways of the Vocal Biomarkers Market:
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