Award winning market research company Fact.MR has conducted a study on the global vocal biomarker market. As per the analysis, recent breakthroughs in the healthcare sector has fostered the sales for vocal biomarkers. Long-term expansion prospects are expected to remain positive, experiencing high growth rate until 2027.
According to the U.S. National Library of Medicine, there was a 39% of increase in the death rate due to the neurological disorder. Neurological disorders were the leading cause of DALYs (Disability Adjusted Life Years) and second leading cause of deaths. Hence, accelerating the production for vocal biomarkers.
According to the study, researchers are focusing on voice-based biomarkers. Start-ups are using Artificial Intelligence (AI) and machine learning (ML) to develop enhanced tools to detect a wide range of diseases. For instance, Vocalis Health, a start-up is working with developers to identify voice-based biomarkers for pulmonary hypertension.
“Manufacturers are accelerating their research and development capacities for more enhanced technology to detect neurological diseases like Alzheimer’s and Parkinson’s. Healthcare professionals and manufacturing companies are using the AI and ML tools to propel the production for vocal biomarkers,” says the Fact.MR analyst.
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Key Takeaways
- Global vocal biomarker to exhibit a spectacular growth at nearly 23.3% CAGR through 2021
- Contract research organizations (CROs) to emerge as highly sought after vocal biomarker drugs availability channel
- North America to retain dominance for vocal biomarker, attributed to advanced technology used by manufacturing companies
- Psychiatric disorders to emerge as a lucrative tool
- U.S. to emerge as highly lucrative market, fueled by tie-ups of US government agencies with voice-based companies
Prominent Drivers
- Increasing cardiovascular and psychological diseases to foster the sales
- Rising demand for MRI, CT, and X-Ray to propel the growth of vocal biomarker
- Emerging applications in healthcare and life sciences to deploy voice assistant platforms in clinical trial settings, penetrating the vocal biomarker market
Key Restraints
- Low stability over long period for patients with chronic neurological diseases such as Alzheimer’s to hamper sales
- Expensive techniques used in vocal biomarker’s application resulting in healthcare burden on economy, thus limiting penetration
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Competitive Landscape
Prominent vocal biomarker solutions providers include Beyond Verbal Communication Ltd., Sonde Health Inc., IBM Corporation, Cogito Corporation, and US Cargo Control among others. Variety of expansion strategies and advanced development are being deployed by the aforementioned market players.
In October 2020, Mayo Clinic collaborated with Vocalis Health for clinical development of vocal biomarkers. The AI-based company announced a collaboration to research and develop new voice voice-based tools for screening, detecting and monitoring patient’s health.
More Insights on the Vocal biomarker Market
In its latest report, Fact.MR offers unbiased analysis of the global vocal biomarker market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of technique (frequency, amplitude, error rate, vocal rise or fall time, phonation time, voice tremor, pitch and other types), end-user (hospitals & clinics, CROs, academic & research center, and other end-users), indication (psychiatric disorders, respiratory disorders, cardiovascular disorders, traumatic brain injury, neurological disorders and others), and region (North America, Latin America, Europe, Japan, APEJ, and MEA).
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