Digital biomarkers to underpin future of healthcare
Spurred by the drive to track the spread of COVID-19, digital biomarkers are opening new ways to use established sensors for early disease identification and management, says the firm. In its report – “Opportunities in Digital Biomarkers” – it assesses what health conditions have been identified with which sensors, based on a review of more than 200 publications by Lux analysts.
The report identifies health conditions in such categories as aging, mental and behavioral health, neurodegenerative and musculoskeletal disease, and systemic illnesses, and provides recommendations for how companies in different industries can best take advantage of the opportunities digital biomarkers provide.
“Digital biomarkers are key to the personalization of healthcare, both for maintaining wellness and for treating disease, with huge potential benefits for stakeholders across the healthcare value chain,” says Danielle Bradnan, Analyst at Lux Research and lead author of the report. “Consumers benefit from early diagnostics and timely interventions, governments benefit from reduced healthcare costs, and traditional healthcare players benefit from a new tool in the toolbox for managing disease.”
The opportunities for nontraditional healthcare companies may be the greatest, says the firm. Tech companies and consumer packaged goods (CPG) players, which have the greatest connection with consumers, can now leverage data streams in order to detect disease risk and develop preventive or supportive products for clinical conditions. Such data streams are becoming ubiquitous, thanks to low-cost, miniaturized sensors that collect behavioral, environmental, and clinical data.
In the next five years, says the firm, digital biomarkers are going to gain maturity and will increasingly be incorporated into solutions that will enable companies to personalize offerings around health and wellness.
“It is imperative to understand.” says the firm, “that digital biomarkers are going to quickly move past the ‘novel technology’ stage and will become an expected component of product development. Companies that do not adopt this technology to meet the health and wellness needs of consumers stand to lose competitive advantage in this evolving landscape.”
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