Digital Therapeutics Market by Application, By End User and By Region. Top Key Players are Bupa, WellDoc Inc., 2Morrow Inc., Propeller Health, Omada Health Inc., Digital Health, Inc.,Livongo Health.
The global digital therapeutics market was valued around US$ XX Mn in 2017 and growing at a significant CAGR over eight years forecast period 2018-2025
Precision Business Insights (PBI) in its report titled “Global digital therapeutics market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017 and Forecast 2018-2025” assesses the market performance over eight years forecast period over 2018-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
Market boosts and restraining factors
Global digital therapeutics market is primarily driven by increase in the usage of internet and adaptation of digital devices such as smartphones around the world. In addition, growing awareness and adaptation of telemedicine and digital healthcare services are expected to boost the market share in future. Moreover, through the digital therapeutics healthcare professionals can provide services to remote places. Technological advancements coupled with the growth in prevalence of chronic diseases such as neurological disorders, diabetes, and others are expected to bolster the market growth over the forecast period.
However, lack of digital health services in remote places, patient data privacy, and resistance from the traditional healthcare providers are expected to hamper the global digital therapeutics market over the forecast period.
The global digital therapeutics market is segmented based on application, provider, and region.
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North America holds the largest market share in the global digital therapeutics
North America digital therapeutics market is driven by the presence of key market players, well-established healthcare infrastructure, and rise in the health expenditure and technological advancements in the region. Furthermore, favorable health policies in the region also expected to boost the market share.
Asia Pacific expected to register the significant growth rate over the forecast period, owing to increase in adaptation of digital devices and growing awareness related to digital healthcare segment. In addition, rapid urbanization coupled with increase in healthcare spending expected to boost the market share especially in developing countries such as India and China. China digital therapeutics market projected to have notable growth rate owing to the technological advancements and increase in the aging population that require continuous monitoring and treatment of chronic conditions.
Technological advancements and strategic alliances are the key strategies adopted by market players
Global digital therapeutics is still at development stage, few market players are present in the market. The advent of new companies and introduction of innovative digital therapies expected to boost the market over the forecast period. For instance, in November 2017, U.S. FDA has approved Proteus Digital Healths ABILIFY MYCYTE, aripirazole tablet with the sensor enables track the patient’s medications with the help of a wearable patch. Furthermore, market players are collaborating with other companies to provide digital therapy for the patients.
Some of the players in global Digital Therapeutics market include
- Omada Health Inc. (U.S.)
- Digital Health, Inc. (U.S.)
- Livongo Health (U.S.)
- WellDoc Inc. (U.S.)
- io Inc. (U.S.)
- Noom Inc. (U.S.)
- 2Morrow Inc. (U.S.)
- Propeller Health (U.S.)
- Mango Health, Inc. (U.S.)
- Canary Health Inc. (U.S.)
- Bupa (U.K)
Some of the notable market development include
In October 2016, Bupa UK collaborated with the SilverCloud Health to launch new online cognitive behavioral therapy (CBT) for wide range of mental conditions including depression and anxiety.
Detailed segmentation
By application
- Obesity
- Diabetes
- Central Nervous System Disorders
- CardioVascular Diseases
- Respiratory Disease
- Others
By end-users
- Healthcare Providers
- Payers
- Employees
- Others
By geographical regions
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
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