According to a new report, published by KBV research, The Global Psychiatric Digital Biomarkers Market size is expected to reach $2.78 billion by 2031, rising at a market growth of 24.1% CAGR during the forecast period.
The Mobile based Applications segment is capturing a CAGR of 24.3% during (2024 - 2031). The segment is being driven by the increasing popularity of digital mental health tools that provide accessibility and simplicity of use, as well as the widespread use of smartphones. These applications provide cost-effective solutions for tracking mood, stress, and other mental health indicators, catering to individuals and healthcare providers. The ability of mobile apps to deliver personalized interventions, combined with advancements in AI and machine learning, enhances their effectiveness, making them a significant contributor to market growth.
The Diagnostic Psychiatric Digital Biomarkers segment is leading the Global Psychiatric Digital Biomarkers Market by Clinical Practice in 2023; thereby, achieving a market value of $822.9 million by 2031. Traditional diagnostic approaches rely on subjective assessments, but digital biomarkers offer data-driven insights that enhance precision. The capability of these biomarkers to identify mental health conditions at an early stage has been enhanced by advancements in artificial intelligence and machine learning, thereby addressing the increasing global prevalence of psychiatric disorders. This demand, combined with growing adoption by healthcare providers, has solidified the segment’s market leadership.
The Healthcare Providers segment is experiencing a CAGR of 24.3% during (2024 - 2031). The healthcare providers segment benefits from increasingly integrating digital biomarkers into clinical workflows, driven by the need for more accurate, efficient, and personalized mental health care. Providers utilize digital biomarkers for real-time monitoring of patient conditions, treatment efficacy assessments, and early diagnosis of psychiatric disorders. These tools have become indispensable in contemporary psychiatric care as a result of the rapid adoption of remote patient surveillance and telehealth.
Full Report: https://www.kbvresearch.com/psychiatric-digital-biomarkers-market/
The North America region dominated the Global Psychiatric Digital Biomarkers Market by Region in 2023; thereby, achieving a market value of $1.41 billion by 2031. The Europe region is expected to witness a CAGR of 23.8% during (2024 - 2031). Additionally, The Asia Pacific market would register a CAGR of 25.3% during (2024 - 2031).
By Type
By Clinical Practice
By End Use
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