Vocal biomarkers are a novel technique developed to detect the presence of disease from speech characteristics. By decoding the vocal intonations in real-time, the technology can provide holistic treatment and quality patient care. The global vocal biomarkers market report by Market Research Future (MRFR) highlights several developments which can assist diseases combined with supporting drivers and restraints for the period of 2017 and 2023 (forecast period).
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Market Outlook
The global vocal biomarkers market is bound to touch a valuation of USD 2.5 billion by 2023. It can exhibit a CAGR of 14.3% during the forecast period. It is driven the prevalence of various neurological and psychological diseases such as Huntington’s disease, Alzheimer’s disease, Parkinson’s disease, depression, attention deficit and disruptive behavior disorders, traumatic brain injury, and others. According to the WHO, close to 350 million suffered from depression in 2016 and the Parkinson’s disease Foundation estimated the number of patients affected by the disease to be reaching a number of 10 million in the same year.
Various government organizations are partnering up with private clinics and firms to develop machine learning algorithms for initial detection of diseases. This is exemplified by the alliance of American Heart Association with Mayo Clinic and Beyond Verbal to use voice patterns to detect coronary heart disease at its initial stage. Development of smartphone applications to detect all disease from voice or sounds can provide the global vocal biomarkers the much-needed impetus in the coming years.
Segmentation Analysis
The global vocal biomarkers market is segmented by type, indication, and end-user.
The global market, by type is segmented into pitch, voice tremor, vocal rise or fall time, phonation time, error rate, amplitude, frequency, and others.
The market, by indication, is segmented into neurological disorders, psychiatric disorders, cardiovascular disorders, respiratory disorders, and others.
Based on end-user, the market is segmented into academic and research, hospitals and clinics, and others.
Regional Analysis
The Middle East & Africa (MEA), Americas, Europe, and Asia Pacific (APAC) are major regions in the global vocal biomarkers market.
The Americas is predicted to dominate the global market due to the U.S. grabbing maximum shares owing to large healthcare expenditure and favorable reimbursement schemes. The fast adoption rate of new technology can be pivotal in driving the vocal biomarkers market. Alternatives to MRI/CT/EEG machines will find demand due to the large elderly populace in the region.
Europe is the second-biggest region for the market due to large awareness levels and expendable income levels of patients. In addition, the need for non-invasive techniques for detection of diseases is ensured to gain traction and pave way for the global vocal biomarkers market.
The APAC region is expected to have the largest potential for the market due to the large patient pool in China and India. On the other hand, the MEA region will contribute to the vocal biomarkers market due to the booming medical sector in Saudi Arabia and UAE.
Competitive Outlook
Audio Profiling, Sonde Health, IBM Corporation, Beyond Verbal, Cogito Corporation, and others are reputed companies currently operating in the global vocal biomarkers market.
Industry Update
Sonde Health has managed to raise close to USD 16 million in series A funding to spur the development of vocal biomarkers. The technology has amassed hundreds of vocal characteristics from recordings to identify changes in pitch, rate of speech, and hoarseness to assess health.
Aural Analytics has published the results of a clinical trial involving the effects of reldesemtiv, a skeletal muscle troponin activator, used in the treatment of spinal muscular atrophy (SMA) and amyotrophic lateral sclerosis (ALS). The company analyzed vocal biomarkers for the duration of the trial to notice any improvements in speech patterns.
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