Vocal Biomarkers Market 2017 Business Growth, Technology and Production Analysis, Opportunities and Regional Market Scope by 2023
Vocal Biomarkers Market information: by type (frequency, amplitude, error rate, vocal rise or fall time, phonation time, voice tremor, pitch, others) by indications (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), others) by end users (hospitals and clinics, academic and research, others) - Global Forecast till 2027
The global vocal biomarkers market is expected to exhibit a strong 14.5% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). Vocal biomarkers are used to diagnose a wide range of diseases, including psychiatric disorders, respiratory disorders, and cardiovascular disorders. The global vocal biomarkers market is expected to rise to a valuation of USD 2.5 billion by 2023, driven by the increasing demand for strong diagnosis techniques in psychiatry and neurodegenerative disease treatment.
Competitive Analysis:
Leading players in the global vocal biomarkers market include Cogito Corporation, IBM Corporation, Audio Profiling, Sonde Health, and Beyond Verbal.
In July 2019, Winterlight Labs Inc. announced a collaboration with Alector to develop speech-based digital biomarkers for fronto-temporal dementia.
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Segmentation:
The global vocal biomarkers market is segmented on the basis of type, indications, end users, and region.
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), and others. Psychiatric and respiratory disorders hold the largest share in the global vocal biomarkers market, followed by neurological disorders and CVD. The share of psychiatric disorders in the vocal biomarkers market is likely to increase over the forecast period, as the role of vocal biomarkers is much more prominent in the diagnosis of psychiatric diseases than in the diagnosis of cardiovascular or respiratory diseases.
Based on the end use, the market has been segmented into hospitals and clinics, academic and research, and others.
Regional Analysis:
North America is likely to dominate the global vocal biomarkers market over the forecast period due to the growing awareness about neurodegenerative diseases, psychotic diseases, and the important role played by vocal biomarkers in identifying these afflictions. Rapid development of the medical technology sector has led to a growing interest in vocal biomarkers in recent years, as the technology needed for recognizing biomarkers and diagnosing various diseases has become matured over the last few years. The growing geriatric demographic in North America is likely to be a major driver for the vocal biomarkers market in the region, as leading rates of neurodegenerative diseases are seen among the geriatric demographic. The strong life expectancy figures of the baby boomer generation in North America are a major driver for the vocal biomarkers market in the region, as the growth of the geriatric population in the region is supported by an excellent healthcare infrastructure and supportive reimbursement policies.
The U.S. is likely to remain the major revenue generator for the global vocal biomarkers market over the forecast period due to the growing awareness about the importance of vocal biomarkers in diagnosing medical conditions such as Alzheimer’s disease, as well as behavioural abnormalities such as attention deficit disorder.
Europe holds the second largest share in the global vocal biomarkers market and is likely to remain a vital part of the global market over the forecast period due to the growing geriatric population in the region, leading to a growing prevalence of neurodegenerative diseases. The increasing awareness about mental health and psychotic diseases in Europe is also likely to be a major driver for the vocal biomarkers market in the region over the forecast period.
Asia Pacific is likely to be a vital region for the global vocal biomarkers market over the forecast period due to the growing geriatric population in East Asian countries such as Japan, South Korea, and China. The growing disposable income of the geriatric population in these regions is likely to fuel the demand for advanced diagnostic procedures such as vocal biomarkers. Increasing awareness about neurodegenerative diseases is also likely to be a major driver for the vocal biomarkers market in Asia Pacific over the forecast period.
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