Digital Therapeutics Market by Application (Diabetes, Obesity, Cardiovascular Disease (CVD), Central Nervous System (CNS) Disease, Respiratory Disease, Smoking Cessation, Gastrointestinal Disorder (GID), and Others), Product Type (Software and Device), and Sales Channel (Business-to-Business (B2B), Business-to-Consumer (B2C)): Global Opportunity Analysis and Industry Forecast, 2020–2027
The global digital therapeutics market was valued at $2.88 billion in 2019, and is expected to reach $13.80 billion by 2027 with a CAGR of 20.5% during the forecast period.
Digital therapeutics provides evidence-based therapeutic interventions to patients. It is driven by software programs and devices to prevent, manage, or treat a medical condition. Digital therapeutics software application can be used independently or in combination with devices, medications, or any other therapies to provide patient care and health outcomes. These products incorporate advanced technology, best practices regarding design, usability, clinical validation, and data security. These products are reviewed and approved by regulatory bodies before use. Furthermore, digital therapeutics empower patients, healthcare providers, and payers with intelligent and accessible tools for addressing a wide range of conditions through high quality, safe, and effective data-driven interventions.
Increase in adoption of smartphones and tablets, coupled with healthcare apps, growth in need to control healthcare cost, and rise in incidences of chronic diseases drive growth of the global digital therapeutics market. However, lack of awareness regarding digital therapeutics in developing countries and patient data privacy concerns restrain the market growth. The impact of the driving factors is expected to surpass that of the restraints. Hence, the market is projected to grow at a CAGR of 20.5% from 2020 to 2027. On the contrary, emerging markets are anticipated to offer significant growth opportunities for the market players in the future.
The global digital therapeutics market is segmented into application, product type, sales channel, and region. By application, it is divided into diabetes, obesity, cardio vascular diseases (CVD), central nervous system (CNS) disease, respiratory diseases, smoking cessation, gastrointestinal disorders, and others. By product type, it is classified into software and devices. Further, on the basis of sales channel, it is bifurcated into business-to-business (B2B) and business-to-consumers (B2C). Furthermore, business-to-business (B2B) is categorized into employers, healthcare providers, and others. By business-to-consumers, it is classified into patients and caregivers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2027, which assists to identify the prevailing market opportunities.
An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the global digital therapeutics market is provided.
An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
KEY MARKET SEGMENTS
Cardiovascular Disease (CVD)
Central Nervous System (CNS) Disease
Gastrointestinal Disorder (GID)
By Product Type
By Sales Channel
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY MARKET PLAYERS
Akili Interactive Labs, Inc.
Click Therapeutics, Inc.
Fitbit, Inc. (Twine Health, Inc.)
Livongo Health, Inc.
Omada Health, Inc.
Pear Therapeutics, Inc.
Proteus Digital Health, Inc.
Resmed, Inc. (Propeller Health)
The other players in the value chain include (profiles not included in the report):
Canary Health Inc.
Mango Health Inc.
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