Seattle, Washington Nov 27, 2019 (Issuewire.com) - 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.
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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 the 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 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 an 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 a voice that may indicate health-related issues.
Key Takeaways of the Vocal Biomarkers Market:
- The global vocal biomarkers market is expected to exhibit a CAGR of 15.5% over the forecast period, owing to the increasing prevalence of the cardiovascular disease. For instance, according to the American Heart Associations (AHA) Heart Disease and Stroke Statistics, 2016, in the U.S., around 15.5 million people in the age group of 20 or more suffered from coronary heart disease (CHD).
- Among therapeutic applications, the psychological disorders segment held a dominant position in the vocal biomarkers market in 2018, owing to the increasing prevalence of psychological disorders. For instance, according to the World Alzheimer Report 2016, around 47 million people suffered from dementia across the globe, and this 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.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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