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Rising prevalence of neurological, psychological, and other speech-related diseases is a significant factor driving global speech biomarkers market

VANCOUVER, BRITISH COLUMBIA, CANADA, April 10, 2023 /EINPresswire.com/ -- The global speech biomarkers market size is expected to reach USD 2.62 Billion is 2032 and is expected to register a steady revenue CAGR of 17.5% during the forecast period, according to the latest analysis by Emergen Research. Increasing research on speech biomarkers can be attributed to the steady revenue growth of the speech biomarkers market. For instance, Winterlight Labs Inc., a Toronto-based voice analytics and digital biomarker company presented preliminary findings from a combined research and development project on digital health with Genentech, a part of the Roche Group. Using voice recordings from the Tauriel research, a Phase 2 trial of the investigational anti-tau antibody semorinemab in prodromal-to-mild Alzheimer's disease, the project's main goal is to investigate potential speech-based digital biomarkers to evaluate cognitive changes. The first results were presented at the Neuropsychiatry and Behavioral Neurology Virtual Oral Session of the 2021 Alzheimer's Association International Conference (AAIC).

Invasive procedure cost increases are a major factor that is expected to restrain market revenue growth. Depending on the procedure, the out-of-pocket expenditure can range from USD 4,000 to USD 170,000. The most expensive operation is surgery to replace a heart valve. There may be less expensive alternatives, like Laser-Assisted in Situ Keratomileusis (LASIK) eye surgery. The cost of the surgery is influenced by the location, the procedure, and any pre- or post-operative care.

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Global speech biomarkers Market Highlights:

Regional demand estimation and forecast

Product Mix Matrix

R&D Analysis

Cost-Benefit Analysis

Pre-commodity pricing volatility

Supply chain optimization analysis

Technological updates analysis

Raw Material Sourcing Strategy

Competitive Analysis

Mergers & Acquisitions

Location Quotients Analysis

Carbon Footprint Analysis

Patent Analysis

Vendor Management

Report Scope:

Historical Data: 2019-2021

Forecast Period: 2023-2032

CAGR: 17.5%

Base Year: 2022

Number of Pages: 250

For the purpose of this report, Emergen Research has segmented the global speech biomarkers market on the basis of type, application:

Type Outlook (Revenue, USD Million; 2019–2032)

Frequency

Amplitude

Error Rate

Pronunciation Time

Application Outlook (Revenue, USD Million; 2019–2032)

Mental Disorder

Respiratory Failure

Others

The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2023-2032. According to the regional analysis, the market is primarily spread over key geographical regions as follows:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Market Dynamics:

The report offers insightful information about the market dynamics of the speech biomarkers market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the speech biomarkers market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the speech biomarkers market.

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 The report addresses the following key points:

On 18 June 2021, in an initiative related to Medable's Cancer Moonshot work, patient-centric drug development technology company Medable is collaborating with Aural Analytics, which provides clinical grade voice collecting and analytical tools, to evaluate remote data gathering and digital biomarkers in cancer patients. The partnership will monitor the health of oncology patients utilizing the Medable platform for decentralized trials using Aural Analytics technology (along with other remote data collection tools). The National Institutes of Health (NIH) Beau Biden Cancer Moonshot Programme, a seven-year effort named in memory of President Joe Biden's late son, was established five years ago. Through the 21st Century Cures Act, the effort has invested an additional USD 18 billion in cancer research. Moonshot money has so far supported 240 research projects across more than 70 initiatives, with Medable getting funding in 2018.

The frequency segment is expected to lead in terms of revenue share in the global market over the forecast period. Analytical validation is the process of ensuring that measurements made feasible by a digital biomarker accurately reflect the expected events. For speech-based biomarkers, it is necessary to check that each feature, which is a characteristic or metric derived from a speech sample, accurately quantifies the related speech features. Speech can be used to derive many different things, and these things can vary based on the goal and the processing methods. Acoustic metrics that reveal the mathematical properties of the sound wave include the fundamental frequency, shimmer, jitter, and Mel-Frequency Cepstral Coefficients (MFCCs).

The mental disorder segment is expected to lead in terms of revenue share in the global market over the forecast period. Language impairments at various levels, from verbal utterances to individual speech sounds, caused by the deterioration of nerve cells that regulate cognitive, speech, and language processes can be signs of neurological, cognitive, and psychiatric conditions such as dementia, Alzheimer's disease, Parkinson's disease, Amyotrophic Lateral Sclerosis (ALS), depression, autism spectrum disorder, schizophrenia, etc. Currently, these disorders are recognized using clinical diagnostic criteria and cognitive tests. However, speech-based biomarkers have several advantages over current clinical standards. They are objective and naturalistic, and they can be acquired remotely with little training or time commitment. In addition, the identification of individuals with potential diseases could be aided by machine learning algorithms developed to generate automated diagnostic models using language clues gathered from speech.

Market in North America is expected to account for the largest revenue share during the forecast period, which is attributed to increasing activities by key market players in countries in the region. For instance, on January 12, 2022, Syntiant Corp., a provider of deep learning solutions making edge Artificial Intelligence (AI) a reality for always-on applications, partnered with Canary Speech, a pioneer in the voice digital biomarker sector, to market their joint deep learning solution, which will enable real-time patient monitoring to detect health conditions like Alzheimer's disease, anxiety, and depression as well as a complex voice energy measurement. The solution combines the digital speech algorithms from Canary Speech with the Syntiant Core 2 deep learning technology embedded within the Syntiant NDP120 Neural Decision Processor. The Canary Speech voice algorithms were created utilizing biomarkers found in clinical trials and are directly connected with the GAD7, PHQ8, and other industry-accepted gold standards.

Key Companies Profiled in the Report:

Boston Technology Corporation, Cogito, IBM, ConversationHealth, Winterlight Labs, GoDaddy, LLC., Mayo Foundation for Medical Education and Research (MFMER), Medical Information Technology, Inc., Sonde Health, Inc., PureTech.

The speech biomarkers research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.

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