Global Digital Therapeutic Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
The global Digital Therapeutic market is expected to grow at CAGR of 28.1% during 2016-2022. The global digital therapeutics market is segmented into application, sales channel and geography. The application segment is segmented into preventive application and treatment / care related application. Moreover, the sales channel segment is segmented into business to business and business to consumer segment.
The Digital Therapeutic market is dominated by some of the major key players such as Adheretech, Canary Health Inc., Doximity, Evolent health, GE Healthcare, Livongo Health, Mango Health Inc., Medtronic, Omada Health, Inc., Proteus Digital Health, Inc., July 2016, The American Medical Association, Omada Health and Intermountain Healthcare announced that a new data-driven chronic disease prevention and management program intended at dropping the incidence of Type 2 diabetes. These programs aim at patient education improvement and self management skills to encourage a healthy life style to the patients. Intermountain Healthcare clinicians are aiming at to assist thousands of the diabetic patients in the America by providing them more personalized care.
The increased funding by government and private firms in research and development for new technology for the digital therapeutics increasing the scope Digital Therapeutic market. The Huge benefits offered by digital therapeutic are also creating huge demand for global Digital Therapeutic market. The High elderly population and prevalence of lifestyle diseases creating injecting huge positive growth opportunity in global Digital Therapeutic market. However, the growing technological advancements is one of the key factor which is generating huge scope in Digital Therapeutic market. In last decade there are a lot of mergers, acquisition and other strategic initiative taken by various key players to develop the new technology in the Digital Therapeutic market.
The Digital Therapeutic market is majorly driven by High elderly population and prevalence of lifestyle diseases is increasing the scope of Digital Therapeutic in the global market. However, lack of access and awareness across emerging countries for digital therapeutic and Concern related to privacy and security of patient’s data may hinder the growth in the global Digital Therapeutic Market. The global Digital Therapeutic market is having huge opportunities such as huge growth prospectus in emerging market and growing number of patient pool in the world is anticipated to contribute a lot in the growth of global Digital Therapeutic market and Untapped Asia Pacific region has huge scope for Digital Therapeutic market.
North America dominates the Digital Therapeutic market, the domination is due to presence of some key player of Digital Therapeutic who are dominating and contributing the large share in the global market. The growth of North America is driven by number of factors such as technological development, extension in product innovation and growing prevalence of the chronic diseases. APAC is the fastest growing region in the world. The APAC is growing with an impressive CAGR in the forecasted period. The growth is driven by increasing patient pool in the region due to increasing medical tourism in the region is excepted to boost the Asia Pacific Digital Therapeutic market.
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