A person’s voice can serve as an extremely useful tool in identifying the temperament and presence or risk of any disorders such as depression, Parkinson’s disease, and coronary artery disease. Factoring this, scientists from research institutes and companies (dealing with voice and speech technology) are partnering to identify vocal biomarkers that can aid in accurate diagnosis of diseases. Vocal biomarkers technology could be a disruptive innovation in the field of medical diagnostics, allowing for minimally-invasive diagnostic procedures to detect serious conditions. Beyond Verbal, Inc. Cogito Corporation, and Sonde Health are developing a voice-based platform to diagnose mental and physical health of a person. The projected success of the market mainly hinges upon the R&D conducted by these major companies.
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Still in the clinical stage, the global vocal biomarkers technology would transform the way we mental and physical health is diagnosed and would transform the healthcare industry. This voice-based technology would allow for early diagnosis of diseases and accordingly help in taking preventive measures. This can significantly benefit military, hospitals and health clinics, and also individuals to monitor health and take appropriate medical action.
Collaborative efforts across different ecosystem players are bringing positive traction in global vocal biomarkers market. Sonde Health obtained technology license from the Massachusetts Institute of Technology Lincoln Laboratory for the latter’s voice-based technology platform intended for monitoring and diagnosis of various mental and physical conditions. Beyond Verbal, Inc. collaborated with Mayo Clinic in 2016 to conduct studies and identify the vocal biomarkers that could help in diagnosing mental and physical health.
Growing Psychological and Cardiovascular Disease Prevalence: A Highly Conducive Growth Environment
Around 350 million people across the globe suffered from depression (WHO, 2016) and approximately 10 million people suffered from Parkinson’s disease globally (Parkinson’s disease Foundation, 2016). Over 235 million people suffered from asthma globally (2016), according to the European Respiratory Society. Diagnosis of these diseases is expensive and thus, is out of reach for most people in emerging economies. This results in high mortality rates in these regions. Vocal biomarker technology systems would act as an ideal cost-effective primary diagnostic tool that could help discern if the patient needs to further opt for expensive X-Ray/MRI/CT/EEG/ECG scans. Thus, millions of suffering from these chronic ailments explicates large potential for vocal biomarkers technology in the commercial space in the long run. Moreover, alterative conventionally used diagnostic systems need to adhere to stringent regulations pertaining to radiation. On the other hand, voice-based systems are based on technology that does not subject the user to any form of radiation and thus, is expected to gain significant traction in the near future.
This report segments the vocal biomarkers market on the basis of application and end users. On the basis of application the vocal biomarkers market is segmented into psychological disorders, respiratory disorders and cardiovascular disorders. End users of this technology as covered in the report are hospitals, academic & research institutes, health insurers, and military. The market potential for vocal biomarkers has been analyzed across major geographies, namely North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Market Key Players
Beyond Verbal, Inc., Cogito Corporation, Sonde Health, Sharecare, Inc., and IBM Corporation
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