The vocal biomarker markets can achieve better growth in the coming years due to its non-invasive methods in detecting diseases. This is going to ensure better growth for the market. The demand for the detection of various psychological disorders is rising and voice biomarkers can play a crucial role in triggering growth. The global market for voice biomarkers can be on a track to achieve a CAGR of 14.5% to surpass a valuation of USD 2.5 million between 2017 and 2023, which according to the Market Research Future (MRFR), is the forecast period. Its impact on the detection of several diseases like neurological and others, using the understanding of speech inconsistencies, is massive. In cases of Parkinson’s disease (PD), Attention Deficit & Disruptive Behavior Disorders, Huntington’s disease, Respiratory & Cardiovascular Disorders, Alzheimer’s disease, traumatic brain injury (TBI) etc. its inclusion would ensure higher growth.
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The global report on the market for vocal biomarkers facilitates a study by providing a segmentation on the basis of indications, type, and end users. This sort of segmentation can improve the market scenario in the coming years as it would reveal various market dynamics and growth opportunities, which the players can explore.
By type, the market report has been segmented into amplitude, frequency, vocal rise or fall time, error rate, voice tremor, pitch, phonation time, and others.
By indications, the market on the vocal biomarkers can be segmented on the basis of psychiatric disorders (attention deficit & disruptive behavior disorders, depression, others), neurological disorders (Huntington’s disease, Alzheimer’s disease, Parkinson’s disease (PD), others), traumatic brain injury (TBI), cardiovascular disorders, respiratory disorders, and others.
By end users, the market report on the vocal biomarkers comprises academic & research hospitals & clinics, and others. The academic & research segment has a high scope for growth as the system has a lot to develop in order to grow at a faster rate.
The global voice biomarkers market is mostly getting traction from North America. Advanced research opportunities, better growth planning, hike in investment, participation from various research institutes, and others are going to lead the voice biomarker market ahead. This growth would get the maximum traction from the US as its better infrastructure and favorable reimbursement scenarios can improve the market uptake. In South America, the growth opportunity would gain lesser acknowledgments as the backups needed to make sure of the market growth are not well-formed. In Europe, the growth would be assuring as countries like France, Germany, Russia, the UK, and others are going to display huge potential. Better infrastructure and a tendency to invest much in the research & development are expected to form the premise for this regional market growth. In the Asia Pacific region, this growth would be ensured by countries like Japan, China, and India. Revamping healthcare sectors in these countries are going to foster growth.
A lot of players in the healthcare sector are trying to come up with solutions regarding diseases that would be non-invasive and less cumbersome. This has triggered the need for treatment procedures that would judge a person on the basis of their behavioral traits. The recent developments in the voice biomarker market are getting applauds as it can diagnose diseases in such ways. Players to impact the market are Cogito Corporation, Sonde Health, Beyond Verbal, IBM Corporation, Audio Profiling, and others.
In December 2019, Beyond Verbal and Healthymize revealed their plan to merge and form Newton, Mass.-based Vocalis Health. To do that they have raised USD 9 million to fetch additional data. This would help them in building a solid base that would support the market growth.
In November 2019, Sonde Health Inc. announced that they have received a foundational patent for their voice biomarker technology from the United States Patent and Trademark Office.
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