Global Vocal Biomarker Market revenues to Reach USD 4.2 Billion in 2026 at a significant CAGR of 13.7 %
Published | 14 August 2020
According to Blueweave Consulting, the Global Vocal Biomarker
Market is anticipated to reach USD 4.2 Billion in 2026 from USD 1.73 Billion in
2019, at CAGR of 13.7% during the projected period 2020-2026. Global Vocal Biomarker is a medical device used for early detection of diseases,
and its market is driven by the prevalence of neurological and psychological
diseases and the urgency of diseases detection. Besides, its cost-efficiency
and technological advancements induce market growth. The market has been
growing at a steady rate during the past few years. At present, the Pharma
companies and the healthcare sector are exploring its applications and
potential in the medical field. The security agencies and defence organizations
are increasingly using Vocal Biomarker for the lie-detecting test of the
suspects. The market holds tremendous growth potential due to technological
advancements, including AI and is expected to register growth during the
forthcoming period.
Vocal Biomarker is a device which detects ailments based on the voice
pattern of the patient. It is a minimally invasive technique deployed for the
diagnosis of diseases in the initial stage. It serves as a substitute for MRI,
X-Ray and CT Scan in medical urgencies. The advance uses of this technique
facilitate diagnosis and treatment of diseases besides lie-detection tests. The
vocal Biomarker serves as a remote sensor for patients with fatal diseases and
helps to recognize a medical emergency. In COVID times, its application is more
relevant and is being deployed in different countries for different medical
purposes.
However, the accuracy of vocal bio-markers may vary depending on
the complexity of spoken words and surroundings of the speech recording.
Besides, the inability to extract the desired vocal features, significant
errors in the vocal features and inaccuracies of boundaries of words also
restrict the use of vocal Biomarker, hampering its market growth.
The vocal biomarker market is segregated into four categories
viz., four categories viz., Type, Indications, Neurological Disorders and
End-user. In the first category, different features of speech are analyzed, and
voice tremor is the most explored segment in this category. The Indication
category is subdivided into Depression, Attention Deficit and Disruptive
Behavior Disorders and Others. Among subdivisions based on diseases,
Parkinson's disease division dominates the vocal biomarker market. While in the
end-user category, the healthcare sector is the prominent user of the vocal
biomarkers and holds a significant share.
"The Dominating segments in the Global Vocal Biomarkers
Market are Voice Tremor recognition and Parkinson's disease."
In the first category based on type, the voice tremor segment is
expected to register significant growth due to rising neurological disorders
and growing application of vocal Biomarker in it. As per a study of Parkinson's
Foundation, more than 10 million across the globe suffer from Parkinson's
disease. The prevalence, risk, early detection requirement and increasing cases
of this disease lead to the more demand for vocal Biomarker, assuring strong
growth potential for the market.
"The key drivers of Global Vocal Biometric Markets are
Growing applications in expanding healthcare sector and prevalence of
Parkinson's Disease."
The vocal biomarkers are finding their application in remote
health monitoring of the heart-patient, in the testing voice of the patient
with coronary artery disease and recognizing depression and stress among
callers besides early detection of diseases in healthcare. The healthcare
facilities are widening its use in diagnosis and treatment, which drives the
Global Vocal Biomarker Market. The widespread Parkinson's disease also drives
the market for risk detection, monitoring and prevention.
"North America Dominates the Market Due to
Advanced Healthcare Facilities."
North America has a robust healthcare infrastructure consisting
of well-established healthcare facilities and advanced technologies for
diagnosis and treatment, so it is expected to dominate the Global Vocal
Biomarker Market during the projection period. Besides, easy medical
reimbursement policies and increasing healthcare expenditure in the region
contribute to the growth of the market. Europe is the second most promising
market driven by increasing healthcare outlay and rising income &
awareness. Asia Pacific region is anticipated to register growth driven by the
markets in China, India, Japan and South Korea.
"The leading players" in this market are Sonde Health(US), Beyond Verbal (Israel),
IBM Corporation (US), Cogito Corporation (US), Boston Technology Corporation,
Microtest Health and others.
The in-depth analysis of
the report provides the growth potential, upcoming trends, and statistics of
the Global Vocal Biomarker Market size & forecast. The report provides
insights about the state-of-the-art technology of Global Vocal Biomarker Market
and industry, which help decision-makers to make sound strategic decisions.
Furthermore, the report also analyzes the market drivers, challenges, and
competitive scenario of the market.
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Related Report
Publish Date: February 2023
Increasing prevalence of Parkinson’s other diseases, growing need for minimally invasive treatments to diagnose different illnesses, and the rising incidence of cardiovascular and mental disorders are projected to propel the expansion of global vocal biomarkers market during the forecast period between 2023 and 2029.
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