Vocal Biomarkers Market is projected to reach USD 1.91 Billion by 2030 at 17.50% CAGR during the forecast period 2022-2030.
Global vocal biomarkers market to witness a healthy growth in forthcoming years projects Market Research Future (MRFR) in its latest report. Increased prevalence of neurological, psychological and other disorders that affects speech is fuelling the demand for vocal biomarkers. Health issues such as Disruptive Behavior Disorders, Alzheimer's disease, Parkinson's disease (PD), Huntington's disease, attention deficit, depression, and respiratory and cardiovascular disorders are associated with speech impairment. There are cases when traumatic brain injury (TBI) was identified as cause of speech loss. A WHO report revealed that in 2016, close to 350 million people were suffering from depression. In the same, The Parkinson’s disease Foundation reported that around 10 million people were suffering Parkinson’s.
Biomarkers are also used for detecting speech related issues in soldiers. Hence, the defence sector has potential for vocal biomarker application. For instance, the U.S Army joined forces with MIT researcher to collaboratively work on developing advanced biomarker technology that can cater to traumatic brain injury. America Heart Association in partnership with Mayo Clinic and Beyond Verbal has created unique artificial intelligence (AI) algorithms using cutting-edge machine-learning tools to perceive voice patterns uncatchable by human ear for initial identification of coronary heart disorders.
Rapid mobile technology penetration and boom of the IT sector is creating supporting the market growth. Moreover, the arrival of advanced wearable technologies along with improving the network quality and bandwidth is partly influencing the market. Market players are actively focusing on product innovation in order to gain a competitive edge. Many companies are also entering into collaboration and partnerships to boost their R&D capacity.
Segmental Overview
The segmental analysis of the global vocal biomarker market is based on indication, type and end users.
On the basis of indication, the market has been segmented into neurological disorders, psychiatric disorders, respiratory disorders, traumatic brain injury (TBI), cardiovascular disorder. The neurological disorders segment is further sub-segmented into Alzheimer’s disease, Parkinson’s disease, huntington’s disease, and others. The psychiatric disorders segment is further sub-segmented into disruptive behaviour disorders, attention deficit, depression and others. On the basis of type, the market has been segmented into pitch, amplitude, vocal rise or fall time, voice tremor, frequency, error rate, phonation time, and others. On the basis of end users, the market has been segmented into academic and research, hospitals and clinics and others.
Global Vocal Biomarkers Market: Regional Segmentation
The market has been covered across key regions, which include North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA) and Latin America. North America is expected to remain highly profitable market for vocal biomarkers during the forecast period. In North America, the U.S. makes a significant contribution to the vocal biomarker market. This is primarily owing to the presence of effective reimbursement scenario and high healthcare spending. Moreover, faster acceptance of the advanced technologies in the U.S. makes it a potential market. Following on the heels of North America, Europe represents the second largest market for vocal biomarker. High level of awareness and growing healthcare expenditure are two of the key factors driving the market in Europe. Asia-Pacific ranks third in the pecking order in terms revenue. The market in APAC is touted to witness a strong growth over the next several years. India and China are major contributors to the market in the region.
Competitive Landscape
The global vocal biomarker market players, which include Sonde Health, IBM Corporation, Beyond Verbal, Cogito Corporation, and Audio Profiling.
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