Global Digital Therapeutics Market was valued at USD 2833.25 Mn in 2019 and is expected to reach at USD 11,555.44 Mn by 2027 at a CAGR of 19.21% over forecast period 2020-2027.
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Global Digital Therapeutics Market Dynamics:
Digital therapeutics have the potential to address unmet patient needs that traditional treatments and therapies have been unable to cover. Digital Therapeutics stands for health or social care interventions delivered through a smart device to support healthy behaviors and provide therapeutic effects and can be used to treat type II diabetes, Alzheimer’s disease, dementia, congestive heart failure, chronic obstructive pulmonary disease, and asthma. Factors such as growing need to control healthcare costs, upsurge in the incidence of chronic diseases, increasing focus on preventive healthcare and increase in venture capital investment are driving the market over forecast period.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
However, lack of awareness toward digital therapeutics acts as a key restraint to the market growth.
On the contrary, high growth potential in the developing economies such as India, China, Brazil and Japan is expected to create lucrative opportunities for market.
Global Digital Therapeutics Market Segmentation Analysis:
Global Digital Therapeutics Market is segmented by sales channel, application, and geography. By sales channel B2B segment is expected to lead the market growth. This growth is attributed to the rising adoption of digital therapeutics in this segment, especially among payers and employers.
By application, Preventive application segment held highest market share in 2019 and is expected to keep its dominance over forecast period thanks to government initiatives to increase the focus on preventive healthcare and a rising consensus among policymakers.
Global Digital Therapeutics Market Regional Analysis:
Geographically, North America held highest market share in 2019 and is expected to keep its dominance over forecast period. Factors such as increasing prevalence of chronic diseases and government initiatives to support technological advancement in digital therapeutics are boosting the market growth. The U.S. contributed largest revenue to the North American as well as global digital therapeutics market. The improving reimbursement structure for digital therapeutic solutions, and increasing investment in digital therapeutics field are the key growth driving factor for the U.S. digital therapeutics market. North America is followed by APAC. Continuous reforms in countries such as India and China to address a lack of proper infrastructure and maintain sustainable growth through financial inclusion will fuel the Digital Therapeutics Market in this region.
Global Digital Therapeutics Market Competitive Landscape
Report covers recent development and company profiles of major players. Some of the key players in the digital therapeutics market are Proteus Digital Health, Inc., Omada Health Inc., WellDoc, Inc., 2Morrow, Inc., Livongo Health. By using various inorganic and organic growth strategies such as merger and acquisition, expansion, patent, new product launches, and Joint ventures these players are increasing their regional presence and business operations.
Global Digital Therapeutics Market Recent Development
• Propeller Health and Express Scripts entered into a partnership to provide Propeller’s FDA-cleared digital solutions to Express Scripts to manage asthma or COPD.
• Canary Health entered into a partnership with NMRHCA to offer the Better Choices, Better Health (BCBH) digital therapeutics program in New Mexico.
The objective of the report is to present a comprehensive analysis of Global Digital Therapeutics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Digital Therapeutics Market dynamics, structure by analyzing the market segments and project the Global Digital Therapeutics Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Digital Therapeutics Market make the report investor’s guide.
Scope of the Global Digital Therapeutics Market: Inquire before buying
Global Digital Therapeutics Market, By Sales Channel
o Pharmaceutical Companies
o Other Buyers
Global Digital Therapeutics Market, By Application
• Preventive Applications
• Treatment/Care-Related Applications
o Central Nervous System (CNS) Disorders
o Chronic Respiratory Diseases (CRD)
o Musculoskeletal Disorders
o Cardiovascular Diseases
o Smoking Cessation
o Medication Adherence
o Other Applications
Global Digital Therapeutics Market, By Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players in the Global Digital Therapeutics Market Are:
• Evolent Health, Inc.
• Pear Therapeutics, Inc.
• WellDoc Inc.
• Nanobiosym, Inc.
• Twine Health, Inc.
• Mango Health Inc.
• Canary Health Inc.
• 2morrow Inc.
• Propeller Health
• Ginger.Io, Inc.
• Noom Inc.
• Livongo Health
• Welldoc, Inc.
• Omada Health, Inc.
• Proteus Digital Health, Inc.
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