Press release
Digital Therapeutics Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012 to 2016 and Forecast 2017 to 2023
Digital Therapeutics Market
Market Dynamics: Global Digital Therapeutics Market
Global digital therapeutics market is primarily driven by increase in the usage of internet and adaptation of digital devices such as smartphones around the world. In addition, growing awareness and adaptation of telemedicine and digital healthcare services are expected to boost the market share in future. Moreover, through the digital therapeutics healthcare professionals can provide services to remote places. Technological advancements coupled with the growth in prevalence of chronic diseases such as neurological disorders, diabetes, and others are expected to bolster the market growth over the forecast period. However, lack of digital health services in remote places, patient data privacy, and resistance from the traditional healthcare providers are expected to hamper the global digital therapeutics market over the forecast period.
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Market Scope: Global Digital Therapeutics Market
Global digital therapeutics market is segmented based on application, provider, and region
Based on application, market is segmented into
• Obesity
• Diabetes
• Central Nervous System Disorders
• CardioVascular Diseases
• Respiratory Disease
• Others
Based on end user, market is segmented into
• Healthcare Providers
• Payers
• Employees
• Others
Based on region, market is segmented into
• North America
• Latin America
• Asia Pacific
• The Middle East and Africa
• Europe
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Market Summary: Global Digital Therapeutics Market
Global digital therapeutics is still at development stage, few market players are present in the market. The advent of new companies and introduction of innovative digital therapies expected to boost the market over the forecast period. For instance, in November 2017, U.S. FDA has approved Proteus Digital Healths ABILIFY MYCYTE, aripirazole tablet with the sensor enables track the patient’s medications with the help of a wearable patch. Furthermore, market players are collaborating with other companies to provide digital therapy for the patients. For instance, in March 2017, Sanofi S.A. has collaborated agreement with Voluntis S.A. to deliver digital insulin titration solutions, featuring mobile phone application for type -II Diabetes.
Regional Analysis: Global Digital Therapeutics Market
Geographically digital therapeutics market is divided into five key regions, i.e. Europe, North America, Latin America, Asia Pacific, and The Middle East and Africa. North America digital therapeutics market is driven by the presence of key market players, well-established healthcare infrastructure, rise in the health expenditure and technological advancements in the region. Furthermore, favorable health policies in the region also expected to boost the market share. Asia Pacific expected to register the significant growth rate over the forecast period, owing to increase in adaptation of digital devices and growing awareness related to digital healthcare segment. In addition, rapid urbanization coupled with increase in healthcare spending expected to boost the market share especially in developing countries such as India and China. China digital therapeutics market projected to have notable growth rate owing to the technological advancements and increase in the aging population that require continuous monitoring and treatment of chronic conditions.
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Competition Assessment: Global Digital Therapeutics Market
Some of the players in global Digital Therapeutics market include
• Omada Health Inc. (U.S.)
• Digital Health, Inc. (U.S.)
• Livongo Health (U.S.)
• WellDoc Inc. (U.S.)
• io Inc. (U.S.)
• Noom Inc. (U.S.)
• 2Morrow Inc. (U.S.)
• Propeller Health (U.S.)
• Mango Health, Inc. (U.S.)
• Canary Health Inc. (U.S.)
• Bupa (U.K)
Notable Market Developments: Global Digital Therapeutics Market
• In October 2016, Bupa UK collaborated with the SilverCloud Health to launch new online cognitive behavioral therapy (CBT) for wide range of mental conditions including depression and anxiety.
Key Features of the Report:
• The report provides granular level information about the market size, regional market share, historic market (2012-2016) and forecast (2017-2023)
• The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
• The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
• The report tracks recent innovations, key developments and startup’s details that are actively working in the market
• The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
• The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
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About Precision Business Insights
Precision Business Insights is one of the leading market research and business consulting firm, which follow a holistic approach to solve needs of the clients. We adopt and implement proven research methodologies to achieve better results. We help our clients by providing actionable insights and strategies to make better decisions. We provide consulting, syndicated and customised market research services based on our client needs.
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