Vocal Biomarkers Market Share, Trends, and Size Analysis by type (frequency, amplitude, error rate, vocal rise or fall time, phonation time, voice tremor, pitch), indications (psychiatric disorders (depression, Attention Deficit and Disruptive Behavior Disorders)), neurological disorders (Parkinson’s disease (PD), Alzheimer’s disease, Huntington’s disease), Respiratory Disorders, Cardiovascular Disorders, traumatic brain injury)), End users, Global Forecast till 2023
Vocal Biomarkers Market Highlights
Market Research Future (MRFR) studied the global vocal biomarkers market 2020 along the review period till 2023. Between 2017and 2023, the global vocal biomarkers market can rise at about 14.5 % CAGR. By 2023, the global vocal biomarkers market value is expected to touch USD 2.5 Billion by the end of 2023.
The expansion of the vocal biomarkers market is likely to be primarily driven by increase in cases of neurological, psychological, and other diseases impacting speech. Depression and Parkinson’s disease (PD), along with malaises, such as; Respiratory and Cardiovascular Disorders, Alzheimer’s disease, Huntington’s disease, and traumatic brain injury (TBI) are observed to affect speech. As per the World Health Organization (WHO), a surge in cases of PD and depression is noted per years. Thus, rise in cases of these ailments that is creating the need for vocal biomarkers solution can increase the market size in the years ahead.
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Companies are collaborating to design better voice biomarkers solution to increase its application. The U.S. Army joined MIT researchers to engineer voice biomarkers technology for TBI (traumatic brain injury). Beyond Verbal, Mayo Clinic, and American Heart Association collaborated to develop artificial intelligence (AI) algorithms using machine-learning to perceive voice patterns in the diagnosis of coronary heart disease.
Vocal Biomarkers Market Segmentation
The segment study of the global vocal biomarkers market is based on indications, type, and end users.
The type-based segments of the biomarkers market are error rate, frequency, amplitude, vocal rise or fall time, voice tremor, phonation time, and pitch among others. The vocal rise and fall time segment can garner considerable revenue by 2023. The voice tremor segment is anticipated to rise at high pace.
The indications-based segments of the biomarkers market are neurological disorders psychiatric disorders, respiratory disorders, traumatic brain injury (TBI), and cardiovascular disorders among others. The neurological disorders segment studies Parkinson’s disease (PD), Huntington’s disease, and Alzheimer’s disease among others. The psychiatric disorders segment consists of depression, disruptive behavior disorders, and attention deficit among others. The neurological segment is likely to garner decent revenue by 2025, while the psychiatric disorder segment can register high CAGR.
The end users-based segments of the vocal biomarkers market are academic and research, and hospitals and clinics among others. The hospitals and clinics segment can expand at high pace due to rise in application of vocal biomarkers for prognosis.
Vocal Biomarkers Market Regional Analysis
The growing prevalence of cardiovascular and psychological malaises in North America is expected to drive the vocal biomarkers market through the forecast tenure in the region. America is known to witness a gradual rise in fatality rate due to cardiovascular disorders per year. Majority of the U.S population is likely to suffer from ailments, such as; dementia and Alzheimer’s. Research for the formulation of novel drugs solutions for these clinical issues requires biomarkers. Thus, the growing utility of vocal biomarkers to study psychological, directing to cardiac issues, can promote expansion of North America market in the study period.
In Europe, the vocal biomarker market is likely to make decent profit. The availability of advanced vocal biomarker systems and the application of the technology as an ideal, cost-effective primary diagnostic tools to decide on undergoing further diagnostics, such as; X-Ray/MRI/EEG//CT/ECG scans are causes that are likely to contribute significantly to the regional market upsurge. In addition, the rise in commercial applications of vocal biomarkers technology can bolster expansion of EU market.
In Asia Pacific, the growing preference for voice-based systems for diagnosis over conventional diagnostic systems that uses radiation is expected to contribute to the market rise. The growing adoption of the technology due to its operational convenience and non-invasive nature can promote APAC vocal biomarker market.
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Vocal Biomarkers Market Key players
MRFR listed by potential players in the vocal biomarker market. They are; Sonde Health, Beyond Verbal, Audio Profiling, Cogito Corporation, and IBM Corporation among others. The report published by MRFR on the global vocal biomarkers market offers extensive research on qualitative and quantitative aspects of the industry. Input from industry experts and key opinion leaders were taken to gain a deeper insight of the industry performance. The report vividly discusses current market scenario and records precise estimates of future market size and growth dynamics. Technological advancement, other governing factors, and macro economical dimension of the market are detailed in the report. Information on strategies adopted by top key players is dispatched with segment and regional assessment of the vocal biomarker market.
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