Digital therapeutics market is anticipated to witness a double digit CAGR from 2019 to 2030 and was valued at over US$ 140.0 Mn in 2018. It is anticipated to grow at a CAGR of 26.8% from 2019 to 2030.
The continual growth of the Digital Therapeutics market can be attributed to several factors, increasing use of smartphones and internet, increasing awareness related to digital health therapy, and rising number of chronic diseases & geriatric population. Moreover, need to curb the growing healthcare cost and provide better healthcare to population are other factors adding to the growth of the global digital therapeutics market between 2019 and 2030. To obtain better insights regarding the market scenario prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. Kaiku Health, a Helsinki-based company offering digital patient monitoring and patient-reported outcome services, collaborated with Turku University Hospital & Amgen (Finland) to launch a digital symptom tracking for multiple myeloma, a type of bone marrow cancer. This digital health therapy would support and guide patients in their treatment regime.
Major Key Players of the Digital Therapeutics Market are:
Pear Therapeutics, Proteus Digital Health, 2Morrow, Omada Health, Livongo Health, Ginger.Io, Noom, Mango Health, Canary Health, and Propeller Health among others.
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The population of geriatric population across the world has grown rapidly over the past several decades. Moreover, this growth has witnessed an unprecedented rate in recent times. In 2016, it was approximated that the population of individuals aged 65 years or older was 8.5% or 617 million of the entire world population. Furthermore, it is projected that the figure will witness an increment to 17% i.e. 1.6 billion by the end of 2050. Such rapid growth of geriatric population is anticipated to present a remunerative growth opportunity for the global digital therapeutics market in the coming times. As geriatric population requires constant healthcare and services & software on mobile or remote monitoring enable better care and this has been a major growth driver for the global digital therapeutic industry. Treatment of several conditions namely blood glucose monitoring, diabetes, cardiovascular diseases have gained immense popularity in recent times, which is further anticipated grow in the coming years.
The Digital Therapeutics Market is segmented on the basis of product type, Applications, Technology, and region
Major Applications of Digital Therapeutics Market covered are:
- Obesity Diabetes Central Nervous System (CNS) Disorders
- Cardiovascular Diseases
- Respiratory Diseases
- Medical Adherence
- Smoking Cessation
Smartphones and internet have played a pivot role in growth of digital therapeutics. As healthcare has become costlier digital therapeutics offer cost saving and reduce hospital visits for patients. Mobile applications & consultation offer better way of providing care to patients suffering from chronic diseases. Moreover, in 2017 US FDA approved mobile application to support treatment of substance use disorders (SUD). The mobile application is used with outpatient therapy to treat alcohol, cocaine, marijuana and stimulant SUDs.
Lack of awareness and data security has been affecting the growth of the digital therapeutics industry inversely. Many patient and physician are not aware of full potential of digital therapeutics, the cost of the software & services also are another factor for less adoption of digital therapeutic. Moreover, there are more than 318,000 health-related apps available to date, but most of them are not safe and pose a threat to data of consumers and healthcare professionals. These security threats and lack of awareness are thereby, restraining the growth of the market during the forecast period.
Research objectives:-
- To study and analyze the global Digital Therapeutics consumption (value & volume) by key regions/countries, product type and application, history data.
- To understand the structure of the Digital Therapeutics market by identifying its various sub-segments.
- Focuses on the key global Digital Therapeutics manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
- To analyze the Digital Therapeutics with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Table of Content
- INTRODUCTION
- Market Definition
- Market Ecosystem
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
- UNIQUE SELLING PROPOSITIONS (USPs)
- Regulatory & Reimbursement Scenario Snapshot
- Technological Advancements
- Application Horizon Assessment
- GLOBAL DIGITAL THERAPEUTICS MARKET – ANALYSIS & FORECAST, BY APPLICATION
- Obesity
- Diabetes
- Central Nervous System (CNS) Disorders
- Cardiovascular Diseases
- Respiratory Diseases
- Medical Adherence
- Smoking Cessation
- Other Applications
- GLOBAL DIGITAL THERAPEUTICS MARKET – ANALYSIS & FORECAST, BY END USERS
- Providers
- Payers
- Patients
- Other End Users
- GLOBAL DIGITAL THERAPEUTICS MARKET – ANALYSIS & FORECAST, BY REGION
- North America Digital Therapeutics Market
- Europe Digital Therapeutics Market
- Asia Pacific Digital Therapeutics Market
- Rest of the World (ROW) Digital Therapeutics Market
- COMPETETIVE LANDSCAPE
- Market Share Analysis (2018)
- Key Strategies Assessment
- New Application Launches
- Merger & Acquisitions
- Agreements, Collaborations, & Partnerships
- Expansions
- Other Strategies
- COMPANY PROFILES (Business Overview, Applications Offered, Financial Performance, R&D Intensity, Marketing & Sales Intensity, Recent Developments, Analyst Corner)*
- Pear Therapeutics, Inc.
- Proteus Digital Health, Inc.
- 2Morrow, Inc
- Omada Health, Inc
- Livongo Health
- Ginger.Io, Inc.
- Noom, Inc.
- Mango Health
- Canary Health, Inc.
- Propeller Health
*Financial details might not be captured in case of privately-held companies or for companies that do not report this information in public domain
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