Digital therapeutics is an emerging healthcare discipline that through the use of digital and internet-based solutions treat a medical condition. These therapeutics present the opportunity to increase or replace prescription drug as a sole therapy, using tech-based solutions. Digital therapeutics are either in a standalone fashion or in combination with more conventional medical therapy built on the concept of using software to improve a patient’s health conditions simultaneously using a drug therapy, at a much-reduced cost and no physical side effects.
Effective functionality of digital therapeutics has been linked to medical conditions such as diabetes, obesity, and hypertension among others. With the several options available for treatment, ranging from behavioral intervention to prescription medication the digital therapeutics market appears to be a well-established space. Additionally, digital therapeutics provide good outcomes, easing the conditions to an extent. Resultantly, the global digital therapeutics market is growing pervasively.
Considering the traction, the market is vibrating with; Market Research Future (MRFR) in its recently published study report asserts that the global digital therapeutics market gaining further prominence will register a spectacular growth by 2023, with a striking CAGR throughout the forecast period (2018 – 2023). The burgeoning healthcare sector along with the proliferation of advanced HC facilities substantiates the market growth.
Digital Therapeutics Market Segmentation:
The segmental analysis of the digital therapeutics market is done on the basis of product type, application, and sales channel.
By mode of product, the segmentation has divided into software and devices.
By mode of application, the market segmentation has been done into cardiovascular diseases, obesity, diabetes, respiratory diseases, smoking cessation, and others.
By sales channel mode, the segmentation of the market has been divided into B2B and B2C..
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Key Players
Some of the leaders of the market include Proteus Digital Health, Inc., Twine Health Inc., Mango Health, Inc., Canary Health Inc., Propeller Health, Medtronic Plc., WellDoc Inc., Noom Inc, Inc., Livongo Health, and Omada Health.
Regional Analysis
The North America market dominates the global digital therapeutics market holding the largest share, followed by the markets in the European and Asia Pacific region, respectively. The US backed by the high healthcare expenditures accounts for the largest contributor to the regional market. The North American region is projected to retain its dominance over the global digital therapeutics market throughout the forecast period, following the same growth trends.
The Asia Pacific market is emerging as a lucrative market for digital therapeutics owing to the ever-increasing population, large unmet needs, and the availability of the treatment. The improving economy accounts for one of the key driving forces behind the market growth. The growing markets in India and China provide colossal impetus to the market growth.
Simultaneously, market penetration of healthcare insurance mainly in the countries such as Thailand, Malaysia, and Vietnam among the other South East Asian countries are expected to drive the digital therapeutics market in the in the APAC region.
Increasing funding support from the public and private bodies are supporting the market growth in the region, increasing R&D activities. Furthermore, heading with the availability of new treatment methods that are increasingly meeting the growing demand for the treatments, the APAC region is expected to register a substantial CAGR over the assessment period.
Table Of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
TOC Continued….!
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