Seattle, WA -- (SBWIRE) -- 02/25/2020 -- Sound vibrations are used in therapeutic healing for mental health conditions such as depression and anxiety. Recent research has broadened its application for diagnosis of cardiovascular and other diseases. Biomarkers in the voice of a person have been linked to disorders such as depression, coronary artery disease, and anxiety. Moreover, HIPAA compliant vocal biomarker systems are expected to serve as an effective alternative to current diagnostic techniques such as MRI, X-Ray, and CT scan, owing to successful completion of clinical trials. Research is also underway for identifying vocal biomarkers in the diagnosis of Parkinson's disease, traumatic brain injury, cognitive impairment, and respiratory disorders, which is expected to offer growth opportunities for market players. Companies operating in the field of voice technology are sampling voice data to provide accurate results. For instance, Beyond Verbal, Inc. has been researching on vocal biomarkers since 1996, and has collected over 2.5 million voice samples in over 40 different languages.
The global vocal biomarkers market size is expected to be valued at US$ 1,357.7 million in 2019, and is expected to exhibit a CAGR of 15.5% over the forecast period (2020 – 2026).
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Increasing prevalence of psychological and cardiovascular diseases is expected to drive growth of the vocal biomarkers market over the forecast period. For instance, according to the American Stroke Association 2015, cardiovascular disorders was the main cause of death worldwide, accounting for 17.3 Mn deaths per year, which is expected to reach 23.6 Mn by 2030. Moreover, according to the Alzheimer's Association, in 2017, about 5.5 million people in the U.S suffered from Alzheimer's and dementia, which demands rapid research on biomarkers for early detection of Alzheimer Disease.
Furthermore, vocal biomarker technology systems would act as an ideal cost-effective primary diagnostic tools that could help discern if the patient needs to further opt for expensive X-Ray/MRI/CT/EEG/ECG scans. Thus, many people suffering from these chronic ailments explicates large potential for vocal biomarkers technology in the commercial space in the long run.
Moreover, conventional diagnostic systems need to adhere to stringent regulations concerning to radiation, whereas, the voice-based systems are based on technology that does not use any form of radiation and thus, is expected to gain significant traction over the forecast period.
MRI, CT, X-ray, and ECG, are minimally invasive technologies and are out of reach in the emerging economies. Moreover, minimally invasive procedures are preferred by patients due to advantages such as speedy recovery. However, high costs of these techniques results in substantial healthcare burden on the economy.
Increasing research on vocal biomarkers in order to evaluate their effectiveness in disease diagnosis is expected to drive the market growth. For instance, in June 2019, Geisinger conducted a study, in which algorithm for vocal biomarkers was tested. This algorithm detects severity in patients with chronic obstructive pulmonary disease. Key players operating in the market are focused on research and development activities, in order to expand their product offerings in potential markets. For instance, in September 2016, Beyond Verbal launched a mHealth Research Platform to identify the physiological markers through voice that may indicate health-related issues.
Key Takeaways of the Vocal Biomarkers Market:
The global vocal biomarkers market is expected to exhibit a CAGR of 15.5% over the forecast period, owing to increasing prevalence of cardiovascular disease. For instance, according to the American Heart Associations (AHA) Heart Disease and Stroke Statistics, 2016, in the U.S., around 15.5 million people in the age group of 20 or more suffered from coronary heart disease (CHD).
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Among therapeutic applications, the psychological disorders segment held a dominant position in the vocal biomarkers market in 2018, owing to increasing prevalence of psychological disorders. For instance, according to the World Alzheimer Report 2016, around 47 million people suffered from dementia across the globe, and this is expected to reach 131 million by 2050.
Detailed Segmentation:
Global Vocal Biomarkers Market, By Therapeutic Application:
Psychological Disorders
Depression and Anxiety
Parkinson's Disease
Cognitive Impairment
Other Mental Illnesses
Respiratory Disorders
Cardiovascular Disorders
Global Vocal Biomarkers Market, By End User:
Hospitals
Health Insurers
Academic & Research Institutions
Government Organizations
Company Profiles
Beyond Verbal, Inc.*
Company Overview
Product Portfolio
Financial Performance
Key Highlights
Market Strategies
Sonde Health
Sharecare, Inc.
IBM Coporation
Cogito Corporation
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