According to Blueweave Consulting,
the Global Vocal Biomarker Market is anticipated to reach USD 4.2 Billion in
2026 from USD 1.73 Billion in 2019, at CAGR of 13.7% during the projected
period 2020-2026. Global Vocal Biomarker is a medical device used for early detection of diseases,
and its market is driven by the prevalence of neurological and psychological
diseases and the urgency of diseases detection. Besides, its cost-efficiency
and technological advancements induce market growth. The market has been
growing at a steady rate during the past few years. At present, the Pharma
companies and the healthcare sector are exploring its applications and
potential in the medical field. The security agencies and defence organizations
are increasingly using Vocal Biomarker for the lie-detecting test of the
suspects. The market holds tremendous growth potential due to technological
advancements, including AI and is expected to register growth during the
forthcoming period.
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Vocal Biomarker is a device which
detects ailments based on the voice pattern of the patient. It is a minimally
invasive technique deployed for the diagnosis of diseases in the initial stage.
It serves as a substitute for MRI, X-Ray and CT Scan in medical urgencies. The
advance uses of this technique facilitate diagnosis and treatment of diseases
besides lie-detection tests. The vocal Biomarker serves as a remote sensor for
patients with fatal diseases and helps to recognize a medical emergency. In
COVID times, its application is more relevant and is being deployed in
different countries for different medical purposes.
However, the accuracy of vocal
bio-markers may vary depending on the complexity of spoken words and
surroundings of the speech recording. Besides, the inability to extract the
desired vocal features, significant errors in the vocal features and
inaccuracies of boundaries of words also restrict the use of vocal Biomarker,
hampering its market growth.
The vocal biomarker market is
segregated into four categories viz., four categories viz., Type, Indications,
Neurological Disorders and End-user. In the first category, different features
of speech are analyzed, and voice tremor is the most explored segment in this
category. The Indication category is subdivided into Depression, Attention
Deficit and Disruptive Behavior Disorders and Others. Among subdivisions based
on diseases, Parkinson's disease division dominates the vocal biomarker market.
While in the end-user category, the healthcare sector is the prominent user of
the vocal biomarkers and holds a significant share.
In the first category based on
type, the voice tremor segment is expected to register significant growth due
to rising neurological disorders and growing application of vocal Biomarker in
it. As per a study of Parkinson's Foundation, more than 10 million across the
globe suffer from Parkinson's disease. The prevalence, risk, early detection
requirement and increasing cases of this disease lead to the more demand for
vocal Biomarker, assuring strong growth potential for the market.
The vocal biomarkers are finding
their application in remote health monitoring of the heart-patient, in the
testing voice of the patient with coronary artery disease and recognizing
depression and stress among callers besides early detection of diseases in
healthcare. The healthcare facilities are widening its use in diagnosis and
treatment, which drives the Global Vocal Biomarker Market. The widespread
Parkinson's disease also drives the market for risk detection, monitoring and
prevention.
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North America has a robust healthcare
infrastructure consisting of well-established healthcare facilities and
advanced technologies for diagnosis and treatment, so it is expected to
dominate the Global Vocal Biomarker Market during the projection period. Besides,
easy medical reimbursement policies and increasing healthcare expenditure in
the region contribute to the growth of the market. Europe is the second most
promising market driven by increasing healthcare outlay and rising income &
awareness. Asia Pacific region is anticipated to register growth driven by the
markets in China, India, Japan and South Korea.
"The leading players" in this market are Sonde Health(US), Beyond Verbal
(Israel), IBM Corporation (US), Cogito Corporation (US), Boston Technology Corporation,
Microtest Health and others.
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