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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).
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Growing prevalence of psychological, cardiovascular, and respiratory disorders is expected to drive growth of the global vocal biomarkers market during the forecast period. Growing prevalence of psychological, cardiovascular, and respiratory disorders is expected to drive growth of the global vocal biomarkers market during the forecast period. According to the National Institute of Health (NIH), in 2017, around 23.5 million people in the U.S. suffered from Alzheimer’s disease (AD). According to the same source, annual direct health care cost for AD is expected to be around US$ 100 Bn.
Furthermore, key companies in the market are focused on partnerships and collaborations, in order expand product portfolio and enhance market presence. For instance, in July 2019, Winterlight Labs Inc. collaborated with Alector to develop vocal biomarkers that can be used for monitoring disease progression in frontotemporal dementia (FTD) patients. In 2016, Massachusetts Institute of Technology Lincoln Laboratory (MIT LL) collaborated with the U.S. Army Medical Research and Materiel Command (USAMRMC) and 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 and development activities on vocal biomarkers, in order to assess their effectiveness is expected to boost the global vocal biomarkers market growth over the forecast period. 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 Global Vocal Biomarkers Market:
- The global vocal biomarkers market is expected to register a CAGR of 15.5% over the forecast period, owing to increasing prevalence of cardiovascular disease. According to the American Heart Associations (AHA) Heart Disease and Stroke Statistics, 2016, in the U.S., around 15.5 million people aged 20 years and above suffered from coronary heart disease (CHD).
- On the basis of therapeutic applications, the psychological disorders segment held a dominant position in the global vocal biomarkers market in 2018, owing to increasing prevalence of psychological disorders. According to the World Alzheimer Report 2016, around 47 million people suffered from dementia across the globe and is expected to reach 131 million by 2050.
- Key players operating in the global vocal biomarkers market include Beyond Verbal, Inc., Sonde Health Inc., Sharecare, Inc., IBM Corporation, and Cogito Corporation
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