Fact.MR has published a new research report titled “Vocal Biomarker Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2018 to 2027” to its online database that tries to unveil the various scenarios prevailing in the Vocal Biomarker Market. This assessment delivers a smart compilation of primary and secondary data which provides a clear insight about the future plans expected to impact the Vocal Biomarker Market. This study comprises of prominent data which makes it a beneficial source for investors, analysts and industry experts to acquire necessary knowledge associated to the fundamental market trends, opportunities and growth drivers during the stated forecast period.
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According to a recent research analysis, sound vibrations, which were employed as therapeutic healing for mental health conditions, are now witnessing application into various disease diagnostics including psychiatric and cardiovascular ailments. Post-successful execution of clinical trials, HIPAA-compliant vocal biomarkers are set to serve as effective alternatives to currently available disease diagnostic systems such as CT scan, MRI and X-ray.
Prominent voice-based companies such as IBM Corporation, Cogito Corporation, Audio Profiling, Sonde Health, and Beyond Verbal are focusing on sampling data for providing accurate results. For example – Beyond Verbal has been taking immense research efforts on vocal biomarkers and has compiled over 2.5 Mn samples of voice in more than 40 different languages.
Site Management by CROs Essential for Ensuring Vocal Biomarker Clinical Trails’ Success
Contract research organizations (CROs) are likely to spearhead the global vocal biomarker market, in terms of revenues as well as growth rate. Given the expanding range of voice-assistant, health-related applications, life sciences and healthcare organizations have commenced designing an array of scenarios to deploy voice assistant platforms in clinical trial settings. Integration of these platforms in the research for vocal biomarkers has the potential to address specific drawbacks in current clinical trial environment.
CROs are essential and play a key role in ensuring the clinical trials’ success through proper site management. Accurate level of site management & oversight prompts site to effectively recruit, train, and retain subjects, meanwhile ensuring overall management of subjects, protocol adherence, and regulatory compliance. CROs help in maintaining and improving the communication flow, thereby reducing protocol deviations & violations, and addressing data issues & queries. These benefits of CROs also effectively apply to quality and integrity of clinical trials apropos of vocal biomarkers.
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.
Another leading player, Sonde Health Inc., has introduced voice-based technology platform that enables diagnosing and monitoring various conditions and diseases. The company has collaborated with Massachusetts Institute of Technology (MIT) for licensing the technology. Such collaborations and developments will lead to better solutions and more accurate results for patients. It will further encourage researchers and institutions worldwide in collecting voice data for disease diagnostics and improving outcome of patients.
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Virtual Private Assistants Enabling Voice-based Emotion Detection
Current digital world is making rapid transformations in the way people interact with technology and one another, with virtual private assistants taking on a personalized experience. As virtual private assistants such as Amazon’s Alexa become more popular & useful and smarter, developers are focusing on providing them with additional tools that enable recognizing emotions. A prime example of such development is the cloud-based API engine by Beyond Verbal, which integrates with the virtual private assistants (VPAs).
The aim of Beyond Verbal’s project is to enhance the sensitivity of one’s connected home. Focus of this cloud-based API engine is directed toward eliminating VPAs’ emotional blind spots, given that the vocal intonations in human communication represent 35-40% of emotions conveyed. Future developments of vocal biomarkers is likely to enable VPAs analyze voice for the specific health conditions, providing unique insights into remote health monitoring and personalized tech.
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.
Non-invasiveness of Vocal Biomarker in Psychiatric Disorder Diagnostics in Sync with Self-diagnosis’ Upward Trend
Sound vibrations have been employed as biomarkers for diagnosing psychiatric disorders such as depression and anxiety. Similar distinctive features, known as vocal biomarkers, have been recently discovered by scientists that might pose a massive influence on developing a diagnostic tool. Additionally, latest research analyses have greatly impacted application of vocal biomarkers in diagnosing psychiatric ailments ranging from stress to Parkinson’s disease.
Unlike other conventional and minimally invasive technologies such as ECG and MRI, which are impracticable for remote health monitoring on account of their high costs, vocal biomarkers serve as non-invasive diagnostic tools that provide great ease to patients with psychiatric disorders. Moreover, these significant user-friendly tools fall perfectly in line with the upward trend of self-diagnosis, which in turn has considerably fuelled their demand across the globe. Psychiatric disorders are likely to remain the leading indication in the global vocal biomarker market, with revenues estimated to rake in approximately US$ 130 Mn by 2027-end.
Table of Content:
- Global Vocal Biomarker Market – Executive Summary
- Global Vocal Biomarker Market Outlook Overview
2.2. Market Definition
2.3. Vocal Biomarker Market- Opportunity Assessment (US$ Mn)
2.4. Trends and Developments
2.5. Competitive Analysis (Fortune Wheel)
- Market Dynamics
3.1. Key Growth Drivers
3.2. Supply Chain
3.3. Cost Structure
3.4. Forecast Scenario
3.5. Forecast Factors and Relevance of Impact
3.6. Key Takeaways for Vocal Biomarker Market
3.8. Investment Feasibility Matrix
3.9. PEST Analysis
3.10. Product Life Cycle Analysis
3.11. Competition Footprint Matrix
3.12. Porter’s Five Forces Analysis
3.13. Key Participants Market Presence (Intensity Map) By Region
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