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Universal $9 Bn Digital Therapeutics Market | Proteus Digital Health, Omada Health, WellDoc Inc., 2Morrow, Livongo Health, Propeller Health, Twinehealth, Canary Health, Mango Health and Noom
Digital Therapeutics Market
Digital Therapeutics - Competitive Insights:
Product development facilitated through technological innovation is the major strategy adopted by the key players operating in the global digital therapeutics market. For instance, in January 2017, WellDoc, Inc. obtained FDA clearance for non-prescription version of their BlueStar digital therapeutic for patients suffering from type 2 diabetes.
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Some of the major players operating in the global market are Proteus Digital Health, Omada Health, Inc., WellDoc Inc., 2Morrow, Inc., Livongo Health, Propeller Health, Twinehealth, Canary Health, Inc. Mango Health, Inc. and Noom, Inc.
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Digital Therapeutics - Industry Trend Analysis:
The global digital therapeutics market is estimated to be around $9 billion by 2025. The market is expected to witness high growth during forecast period due to increase in demand for digitalization of healthcare and effective management of acute and chronic diseases. Besides rise in incidences of chronic diseases, technological up gradation, demand for preventive measures for management of diseases and rising demand for e-health will further drive the market growth. Increasing use of smartphones and growing number of internet users globally will significantly contribute to the growth of the market. Another vital factor responsible for the growth of digital therapeutics market is cost effectiveness of digital therapeutics as compared to traditional methods as it allows remote consultation to patients. Despite large investment in this segment, data privacy issues, lack of awareness about digital health programs and refusal from healthcare providers as well as patients will hamper the growth of the market.
Digital Therapeutics - Application Outlook and Trend Analysis:
Diabetes segment is expected to witness highest growth over the forecast period, due to increase in prevalence of diabetes worldwide. According to the International Diabetes Federation (IDF), around 415 million people across globe were affected by diabetes as of 2015 and this number is expected to reach 642 million by 2040. Such a high prevalence of diabetes will primarily drive growth of the market. Preventive market segment is expected to witness fastest growth during forecast period. This can be attributed to factors such as increasing demand for pre-screening techniques for various chronic diseases and rise in demand for cost saving preventive healthcare programs.
Digital Therapeutics - Digital Therapeutics Market Segmentation:
Preventive
Obesity
Prediabetes
Treatment/care
Diabetes
Medication Adherence
Central Nervous System Disease
Respiratory Diseases
Musculoskeletal Diseases
Smoking Cessation
Cardiovascular Diseases
Other Applications
Digital Therapeutics - By End User:
Patients
Employees
Payers
Providers
Others
Digital Therapeutics - Market opportunities:
The digital therapeutics market will be driven by technologically advanced products over the coming years as demand for patient centric healthcare is on the rise globally. Digital therapeutics facilitates the intersection of science, design and technology to create market ready solutions that provide customized healthcare programs to the patients. Such developments will fuel the growth of this market over the forecast period.
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Digital Therapeutics - By Region:
North America - U.S, Canada, Mexico
Europe - Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others
Digital Therapeutics - Regional Outlook and Trend Analysis:
North America accounted for the largest share of the global digital therapeutics market in 2016. This can be attributed to number of factors such as rise in elderly population requiring better healthcare facilities, presence of large number of digital therapy providers in the region, high rate of adoption of advanced medical devices and rise in demand for patient-centric healthcare procedures. Europe accounted for the second largest share of the global market in 2016 due to increase demand for digitalization of healthcare.
Asia-Pacific is expected to grow at fastest CAGR during forecast period owing to a number of factors such as increase in elderly population, changing healthcare infrastructure and increase in demand for cost saving screening and treatment techniques.
Digital Therapeutics - List of Tables:
Table 1.Global Digital Therapeutics Market, By Application ($Million), 2016-2025
Table 2.Preventive Market, By Application ($Million), 2016-2025
Table 3.Preventive Market, By Region ($Million), 2016-2025
Table 4.Prediabetes Market, By Region ($Million), 2016-2025
Table 5.Obesity Market, By Region ($Million), 2016-2025
Table 6.Treatment / Care Market, By Application ($Million), 2016-2025
Table 7.Treatment / Care Market, By Region ($Million), 2016-2025
...
Digital Therapeutics - List of Figures:
Figure 1.Global Digital Therapeutics MarketShare, By Application, 2016 & 2025
Figure 2.Digital Therapeutics Market Share, By End User, 2016 & 2025
Figure 3.Digital Therapeutics Market, By Region, 2016 ($Million)
Figure 4.Proteus Digital Health: Net Revenues, 2014-2016 ($Million)
Figure 5.Proteus Digital Health: Net Revenue Share, By Segment, 2016
Figure 6.Proteus Digital Health: Net Revenue Share, By Geography, 2016
Figure 7.Omada Health, Inc.: Net Revenues, 2014-2016 ($Million)
...
Key Findings of the Research Study:
• Diabetes market is expected to grow at a fastest CAGR over the forecast period due to a rise in the global prevalence of diabetes.
• Preventive market segment is expected to witness highest growth during forecast period due to increase in demand for early detection and prevention techniques.
• North America held the largest share of the global digital therapeutics market in 2016, owing to the presence of numerous digital therapeutics providers in the region focusing on technological advancements and high adoption of advanced medical solutions.
• In 2016, Europe accounted for the second largest share owing to increase implantation of telemedicine for better disease care.
• Asia-Pacific is expected to witness highest growth over the forecast period,due to increasing prevalence of diabetes, rise in demand for cost effective healthcare services and huge investments to support research and development for commercialization of digital therapeutic medicines.
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