Vocal Biomarkers Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis

The Global Vocal Biomarkers Market is estimated to be valued at US$ 6.4 million by 2017 and is projected to expand at an astounding CAGR of 65.7% from 2017 to 2028, as analyzed by Coherent Market Insights. Vocal biomarkers enabling early diagnosis and being a non-invasive procedure are analyzed to be major factor fueling uptake of this disruptive technology over the forecast period (2017-2028).
Mental and physical conditions such as anxiety and Parkinson's disease can make one slur his/her words, speak in a more nasal tone, and elongate sounds. Various companies involved in sales activities across industries and call centers deploy voice analysis systems to understand the temperament of the respondent. Cogito Corporation's voice analysis software is used by Humana, Inc. Blue Cross Blue Shield Associational and Smartmedical Corporation's Empath voice-based technology has been used by NTT Docomo, and Philips for emotional analytic and characterizing respondent's mood.
Beyond Verbal, Inc., Cogito Corporation, IBM Corporation, and Sonde Health are involved in extensive R&D to establish a link between vocal biomarkers and disease condition(s). Depression is a very common disorder globally, with approximately 350 million people suffering from it (WHO, 2016). Successful identification of early signs of depression using a vocal biomarker system is anticipated to significantly help physicians to recommend specific preventive measures to the patient.
Free mobile applications such as Moodies and Empath (by Beyond Verbal, Inc.) offer features that analyze emotional state of an individual, enabling users to identify their mood during their most recent phone conversation. Health insurers such as Humana, Inc., Blue Cross Blue Shield Association, and Aetna, Inc. are leveraging vocal biomarkers to detect stress and depression in callers. The U.S. Department of Veteran Affairs deploys Cogito software to detect signs of post-traumatic stress disorder (PTSD) among soldiers. Realizing the robust future revenue potential from emotional analytics, leaders across the globe (companies and universities) are conducting research in order to capitalize upon the various health benefits offered by speech and voice technology. In November 2016, Mayo Clinic released the outcome of its study on vocal biomarkers which established a correlation between certain voice features and the likelihood of a coronary artery disease.
Strategic collaborations among universities and existing players in order to decrease turnaround time for commercialization of the products is the recent trend observed in this industry. In June 2016, Sonde Health in-licensed the voice-based technology platform from the Massachusetts Institute of Technology Lincoln Laboratory. This technology has been developed for effective diagnosis and monitoring of mental and physical health conditions. The U.S. army collaborated with the Massachusetts Institute of Technology Lincoln Laboratory (MIT LL) in 2016 to develop an algorithm to identify vocal biomarkers that can diagnose traumatic brain injury.
Smartmedical Corp. (Japan) and Planet Healers (India) have commercialized a voice-based platform that can diagnose health conditions based on the voice of the user. While, Smartmedical's Empath is majorly used in analyzing mood, Planet Healer's ‘Voice Analysis' technology platform is intended for the diagnosis of user's health condition. Such products are expected to pave way for extensive application of vocal biomarkers across various industries. Moreover, use of vocal biomarkers to diagnose health conditions in children can prove to be a high potential application area in not so distant future.
Key takeaways of the market:
• The global vocal biomarkers market is classified on the basis of applications and end users. It provides analysis and future market potential across major geographies.
• Revenue contribution of depression and anxiety therapeutic application segment is expected to remain high throughout the forecast period. This is mainly attributed to high efficacy of the technology in identifying temper, happiness, sadness, depression, and anxiety, among other emotions of the subject.
• Mayo Clinic has introduced application of vocal biomarkers for coronary artery disease (CAD). This is analyzed to propel the use of vocal biomarker technology for diagnosis of CAD in the near future.
• Commercially, various military bodies are using this technology to detect/diagnose presence of any brain injury or depression among the team members
• Vocal biomarkers are expected to find increase in adoption among physicians; therefore hospitals end-use segment is projected to expand at a CAGR of 101.2% during the forecast period. The growth would be primarily attributed to its application for diagnosing Parkinson's disease, cognitive impairment, and respiratory disorders in the near future.
• Majority of users of this technology are currently based in developed economies such as the U.S., Canada, Japan, Germany, and the U.K. Adoption of Planet Healer's voice-based diagnosis technology platform is projected to witness positive traction for diagnosis of mental health condition in Asia Pacific region during the forecast period.

Wireless Monitoring System Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Wireless monitoring system uses Wi-Fi technology, which covers large areas through the use of repeaters and boosters making it ideal solution for large installations. Wireless systems have range of...

UAV Propellers Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Unmanned Aerial Vehicles (UAV) commonly known as drone is an aircraft without pilot on board. UAVs can be remote controlled or they are designed to fly autonomously based on pre-programmed flight p...

Tire Bead Wire Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Tire bead wire is a drawn steel wire, which is manufactured from quality wire rods with high carbon content. The surface of the bead wire is coated with copper or bronze, which ensures proper adhes...

Starter Feed Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Starter feed is majorly mixture of two or more ingredients, which is prepared commercially for livestock animals. It contains highly digestible protein products, probiotics, acidifiers, enzymes and...

Spinel Earrings Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Spinel gemstone is a transparent to opaque gem, which is found in varied ranges of colors, including ruby reds, brick reds, and orang reds. Spinel are also available in blue, and look similar to sapphires, however, considered extremely rare. These gems also occurs in ...

Spherical Alumina Adsorbent Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Spherical alumina adsorbent is a dry, granular chemical substance produced by de-hydroxylation of aluminum hydroxide. It is primarily used for the filtration of water to remove harmful fluorides an...

Rebreathers Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

A rebreather is an aqualung that partially purifies diver's exhaled breath using carbon dioxide, mixed with more oxygen, which can be breathed again by the diver. Absorption of the carbon dioxide f...

Propyl Chloroformate Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Chloroformates are esters of chloroformic acid and propyl chloroformates are one of those esters, which is a colorless liquid with pungent odor. It is widely used as reagents in organic chemistry a...

Procalcitonin Antibody Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Procalcitonin (PCT) is a peptide precursor of 116 amino acids produced by parafollicular cells of the thyroid and neuroendocrine cells of lungs and intestine. It is used for synthesis of hormone ca...

Prismatic LiFePO4 Battery Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Prismatic LiFePO4 battery is a type of lithium-ion battery that make optimal use of space by using ...

 

Select Licence :

  • Single User : $4500
  • Multiple User : $7000
  • Corporate User : $10000

Happy To Assist You

Assist you at Worldwide Market Reports

We will be happy to help you find what you need. Please call us or write to us:

Worldwide Market Reports Benefits

Custom Research Solution

Talk to our research consultant to design an exclusive report as per your research needs.

Customer Fulfilment

We aim to fulfil client's research demands with tailored research solutions.

Quick Turnaround Time Reports

We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

360-degree Approach

We cover each industry from supply and demand side with an aim to provide a most holistic research study.