Vocal Biomarker Market: Virtual Private Assistants Enabling Voice-based Emotion Detection
Demand for vocal biomarkers is primarily driven by mounting incidences of neurological, psychological, and various other ailments that impact speech such as Parkinson’s disease, depression, and attention deficit & disruptive behavior disorders. According to WHO, nearly 350 Mn individuals across the globe suffered from depression in 2016. The Parkinson’s disease Foundation’s estimates slated nearly 10 Mn patients with the disease worldwide in 2016. High prevalence of these disorders are expected to significantly rub off on demand and sales of vocal biomarkers.
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Quantification and detection of imperceptible characteristics and subtle changes in the voice can precisely decipher essential aspects of a person’s changing health, including depression, stress and cardiovascular diseases. Accordingly, clinical psychologists and psychoanalysts have been using vocal patterns of patients to assess their personality traits and move further in leaps and bounds in medical and clinical investigations.
A recently compiled report of Fact.MR envisages the global vocal biomarker market to record a spectacular 23.3% CAGR between the forecast period 2018 and 2027. Revenues from global sales of vocal biomarkers are foreseen to surpass US$ 390 Mn by 2027-end. Beyond Verbal, Sonde Health, IBM Corporation, and other leading participants operating in the global vocal biomarker market have been profiled and analyzed in detail in the report.
An Israeli company, Beyond Verbal is developing much anticipated voice-enabled AI solutions, aimed at creating proprietary vocal biomarkers for relentless remote monitoring and personalized healthcare screening of health and emotions. Beyond Verbal infers that clinical data delineated with the help of AI, deep learning and machine learning techniques can assist in predicting and monitoring chronic diseases with initial successful results in alluding the presence of sleep apnea, COPD, CHF and detecting coronary artery disease through the voice. Another pertinent company, Sonde Health Inc. joined hands with Massachusetts Institute of Technology (MIT) to introduce voice-based technology platform, enabling diagnosis and monitoring of various conditions and diseases.
Embracing the future by leveraging technology, psychiatrists or psychologists could use biomarkers to instantaneously diagnose postpartum depression in new mothers, PTSD, specific cancers, Parkinson’s disease and even senile dementia.
Leveraging Product Development to Enhance Collaboration
Product development prevails as an imperative strategy driving collaborating between leading companies and research institutes across various sectors, and healthcare is no exception, Apropos of vocal biomarkers, Beyond Verbal has developed “Beyond mHealth Research Platform”, which aims at collaborating with universities, businesses, hospitals, and research institutes for collectively developing unique vocal biomarkers.
Vocal Biomarker Market: Overview
The report offers an up-to-date and comprehensive analysis on vocal biomarker market taking qualitative and quantitative assessment into consideration. The report also elucidates the dynamics of the market such as drivers, restraints, trend and opportunities which have significant impact in the growth of the market. The report peruses into the segregation of market to present a holistic picture of vocal biomarker.
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The report encompasses comprehensive executive summary along with market overview section. The report also delineates economic outlook and profitability of enterprises. The report depicts investment feasibility matrix and PEST analysis to offer an in-depth view of the vocal biomarker landscape. The report also includes competition footprint matrix and product life cycle analysis. The report also incorporates mergers and acquisitions in the vocal biomarker market.
The information in the report is backed up by primary research, incorporating interactions in person, a reliable and authentic views of seasoned analyst, surveys, interviews and actionable insights of experts. Besides, the report is underpinned by secondary research encompassing resourceful database, trade journals and verified paid sources. The report is furthered by absolute dollar opportunity analysis which is an instrumental aspect in determining the growth of the vocal biomarker market.
Vocal Biomarker Market: Competitive Scenario
The report also includes Porters’ Five Force Analysis which serves as basis for delineating competitive landscape of vocal biomarker market. Assessing competitiveness becomes imperative to comprehend and anticipate the moves by competitors, for instance. The report includes deep dive analysis with a dashboard view, including product portfolio, financial overview, recent developments and strategies.
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