According to a recent market analysis by Fact.MR, application of sound vibrations are not limited to therapeutic healing and mental health conditions, but also emerging in diagnosis of psychiatric and cardiovascular diseases. Several scientific breakthroughs in medical technology have led to the development of vocal biomarker that diagnoses diseases based on vocal indications. Adoption of the vocal biomarker is likely to grow significantly in Asia Pacific with growing instances of anxiety and depression among wide demographic, finds the Fact.MR study. In addition, prevalence of patients suffering from Parkinson’s disease in emerging economies is directly influencing the demand for early diagnostic methods such as vocal biomarker.
Continuous development in medical science coupled with rising need for early diagnosis of neurological disorder is the key driving factors of vocal biomarker market in Asia Pacific. Growing focus of companies to develop vocal biomarker that detect diseases at quicker pace with high efficiency will guide the future expansion of the market in the Asia Pacific region. Moreover, medical methods of diagnosing diseases through vocal vibration has been witnessing significant adoption in the recent past, which in turn enhance the lucrative dimension of vocal biomarker market. Increasing demand for non-invasive and user friendly technology for diagnosing disorders are further likely to bode well with the growth of Asia Pacific vocal biomarker market.
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The Asia Pacific vocal biomarker market is segmented into Asia Pacific Excluding Japan (APEJ) and Japan. Fact.MR’s study foresees the market to be valued over US$ 10 Mn in 2017, expanding at an impressive value CAGR of 21.6% during the period of assessment, 2018-2027. The Asia Pacific vocal biomarker has been envisaged to remain concentrated in China with highest revenue share throughout the forecast period. India will possibly attain a market value worth over US$ 11 Mn, complementing growth to the market.
The global outlook of vocal biomarker market continues to be bullish during the assessment period, expanding at robust CAGR of 23.3%. In terms of revenue, global vocal biomarker market is likely to surpass a value of US$ 390 Mn by 2027-end. North America is anticipated to the most dominant regional market owing to advanced healthcare sector along with presence of well-funded research organization. Voice-based companies entering into partnerships analysis researchers and government agencies are likely to enhance the attractive of vocal biomarker market in North America, especially in the US.
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The end use of vocal biomarker is foreseen to remain concentrated in contract research organizations (CROs) both in terms of value and volume. CROs portray a promising platform for high-quality clinical trials regarding the development of vocal biomarkers. Academic and research center is further expected to witness significant adoption of vocal biomarker in the near future.
The Fact.MR reports offers key developments and detailed profiles of leading market players participating in global vocal biomarker market. These players include Beyond Verbal Communication, Ltd., IBM Corporation, US Cargo Control, Sonde Health, Inc., Cogito Corporation, and other key players.
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