The vocal biomarkers market is chiefly driven by rise in cases of psychological, neurological and other diseases affecting speech such as depression, Attention Deficit and Disruptive Behavior Disorders, Parkinson’s disease (PD), Alzheimer’s disease, Huntington’s disease, Respiratory and Cardiovascular Disorders, traumatic brain injury (TBI) etc. According to WHO estimates, around 350 million individuals were suffering from depression in 2016 while the Parkinson’s disease Foundation, estimated about 10 million individuals Parkinson’s patients globally in 2016. The Vocal Biomarkers Market is expected to reach $ 2.5 billion by the end of 2023, this market is projected to growing at a CAGR of ~ 14.5 % during 2018-2023.
Global Vocal Biomarkers Market – Key players
Key players profiled in the report are –
- Beyond Verbal
- Sonde Health
- Audio Profiling
- IBM Corporation
- Cogito Corporation
Global Vocal Biomarkers Market – Overview
The growing global disease prevalence will drive vocal biomarkers market size in the coming years. Another potential area of application is the use of voice biomarkers to detect disorders in employees and soldiers. For example, the U.S. Army entered into collaboration with MIT researchers to develop voice biomarkers technology for traumatic brain injury. American Heart Association in collaboration with Beyond Verbal and Mayo Clinic has developed artificial intelligence (AI) algorithms by using machine-learning to perceive voice patterns imperceptible to human ear for initial identification of coronary heart disease. The increasing penetration of mobile technology and information technology is driving the market. The development of wearable’s coupled with the rising quality and bandwidth availability is another boon for the market for vocal biomarkers.
Product development is an important strategy and the increasing collaboration between technology companies and research institutes will yield multiple benefits to both partners. For example, Sonde Health Inc., has developed a voice-based technology platform for monitoring and diagnosing diseases and conditions, has collaborated and licensed the technology from the Massachusetts Institute of Technology (MIT). Another company Beyond Verbal has developed vocal biomarket application for detecting emotions. The emotional analysis uses voice biomarkers to detect the moods such as arousal, temper etc. Beyond Verbal has also pursued the partnership strategy with Mayo Clinic, Tel Aviv University and others for the development of vocal biomarkers.
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Global Vocal Biomarkers Market – Segmentation
The global vocal biomarkers market is segmented on the basis of type, indications and end users. Based on type the market has been segmented as frequency, amplitude, error rate, vocal rise or fall time, phonation time, voice tremor, pitch and others. Based on the indications, the market has been segmented as psychiatric disorders (depression, attention deficit and disruptive behavior disorders, others), neurological disorders (Parkinson’s disease (PD), Alzheimer’s disease, Huntington’s disease, others), respiratory disorders, cardiovascular disorders, traumatic brain injury (TBI), others) and others. Based on end users, the market has been segmented as hospitals and clinics, academic and research and others.
Global Vocal Biomarkers Market – Regional Analysis
US accounts for the maximum market share due to favorable reimbursement scenario and greater expenditure on healthcare. The faster market uptake of new technology in the US is also an important driver of the market for global vocal biomarkers. Europe is the second largest market due to large disposable income and rising awareness. Asia Pacific region is expected to have the most future potential and it is estimated to be led by China and India. The Middle East & Africa market is led by the gulf nations particularly Saudi Arabia and UAE. The regions of Africa are expected to witness a moderate growth due to poor economic and political conditions and poor healthcare penetration.
Key Questions Answered In This Report
- What will the market size and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Major Table of Contents
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure:
- Research Methodology
2.1 Research Process:
2.2 Primary Research
2.3 Secondary Research:
- Market Dynamics
3.4 Macroeconomic Indicators
- Market Factor Analysis
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