The industry that creates and sells technological solutions for analysing Vocal Biomarker Market and their associations with various physical and psychological conditions is known as the vocal biomarker market. The human voice contains a wealth of data that can be analysed and decoded to reveal details about a person’s physical and mental health as well as their emotions and cognitive abilities. The use of vocal biomarker technology allows for the collection and analysis of voice data as well as the discovery of potential disease-related biomarkers.
By the end of 2033, the market for vocal biomarkers, which is currently valued at US$ 2.3 billion, is expected to have grown to US$ 9 billion. Over the next ten years, the demand for vocal biomarkers is expected to grow at a CAGR of 14.7%.
The market for vocal biomarkers is anticipated to expand as a result of the rising prevalence of chronic diseases, the rising demand for non-invasive, affordable diagnostic tools, and the potential of vocal biomarkers to increase the precision of disease diagnosis and monitoring. However, the market may encounter difficulties like regulatory obstacles, privacy issues, and the requirement for more thorough clinical validation.
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Key Takeaways from Market Study
- Rising prevalence of chronic diseases: The increasing prevalence of chronic diseases such as depression, anxiety, and Parkinson’s disease is driving the demand for non-invasive and cost-effective diagnostic tools such as vocal biomarker technology.
- Non-invasive and cost-effective: Vocal biomarker technology offers a non-invasive and cost-effective way to diagnose and monitor various medical and psychological conditions.
- Potential for accuracy improvement: Vocal biomarkers have the potential to improve the accuracy of disease diagnosis and monitoring by providing more objective and quantifiable data.
- Key players and investments: The vocal biomarker market is highly competitive, with key players such as Beyond Verbal Communication, Sonde Health Inc., Cogito Corporation, and IBM Corporation investing in research and development to improve the accuracy and reliability of vocal biomarker technology.
- Regulatory barriers and privacy concerns: The vocal biomarker market may face challenges such as regulatory barriers and privacy concerns, which may limit its adoption in certain regions and applications
Top vocal biomarker suppliers are concentrating on creating and releasing new products that aid them in maximizing the use of vocal biomarkers for various use cases.
- Sonde Health unveiled a mental health monitoring system in October 2021 that assesses a person’s mental health using a voice sample. As an application programming interface (API), the Sonde Mental Fitness technology was accessible to wellness service providers, healthcare systems, and employers.
Key Companies Profiled
- Boston Technology Corporation
- EVOCAL Health
- Audio Profiling
- Cogito Corporation
- Sharecare Inc.
- Microtest Health
- Sonde Health
- Beyond Verbal
- IBM Corporation
Key Segments of Vocal Biomarker Industry Research
- By Technique :
- Error Rate
- Vocal Rise or Fall Time
- Phonation Time
- Voice Tremor
- By Indication :
- Psychiatric Disorders
- Respiratory Disorders
- Cardiovascular Disorders
- Traumatic Brain Injury (TBI)
- Neurological Disorders
- Other Disorders
- By End User :
- Hospitals & Clinics
- Contract Research Organizations (CROs)
- Academic & Research Centers
- Other End Users
- By Region :
- North America
- Latin America
Overall, the vocal biomarker market has significant growth potential, driven by the increasing demand for non-invasive and cost-effective diagnostic tools and the potential for vocal biomarkers to improve the accuracy of disease diagnosis and monitoring