Global Digital Therapeutics Market is Expected to Reach US$ 9,121.8 Million by 2027, Growing at a CAGR of 21.1% over the Forecast Period Owing to its Promising Characteristics to Replace Conventional Medical Devices and Therapies, says Absolute Markets In

Consumers are increasingly adopting FDA approved online tool or digital application to treat their medical condition. The main benefit received from digital therapeutics market is the treatment adherence are less compared to traditional medicine treatments. It has also been reported that the 56% of the physicians is choosing digital therapy as a convenient and easy option for their patients.

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A recent partnership between smart pill startup Proteus Digital Health and Otsuka on Abilify MyCite have bought a positive technological shift in digital therapeutic market. Abilify MyCite is a digital sensor placed inside a pill which duly records medication adherence for the anti-psychotic group. The Silicon Valley has raised more than US$ 500 million from investors such as Otsuka and Novartis, has entered in the oncology space with a digital chemotherapy version, often used for the treatment of gastrointestinal and breast cancer.

Unlike drug development, software development is not linear and requires time to get approved by the FDA. Technological advancements follow user feedback, and bug detection that technically drives ongoing updates and code revisions. Thus, agility is a key factor to being responsive to the digital therapeutics market. Thus, given the dynamic nature of software development, the FDA’s 12 year process is difficult to attain, as by the time the software receives regulatory approval, it is almost out of date. However, market participants engaged in digital therapeutics market value the legitimacy of what regulatory approval brings. They are actively working towards a modified review process that will support the overall industry in a better way.

“Can digital therapeutics totally replace the traditional pill program method? Apart from some regulatory glitches, digital therapeutics application in the healthcare domain has become a necessary path for consumers to achieve their ultimate fitness goal. The saying “Prevention is better than Cure” is the actual tag line for digital therapeutics market. The adoption of the same is driven by potential reimbursement plans by company participants for digital consults and remote patient monitoring”

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The detailed research study provides qualitative and quantitative analysis of the global digital therapeutics market. The market has been analyzed from demand as well as supply side. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Some of the major players operating in the global digital therapeutics market are BLUE MESA HEALTH, CANARY HEALTH, Chrono Therapeutics Inc., Adherium, BigHealth, Diabetes Digital Media Ltd, Digital Therapeutics, Inc., Dthera Sciences, MANGO HEALTH, Merck & Co., Inc., Firstbeat, GINGER.IO, Glooko, Inc., Limbix , Livongo Health, Noom, Inc., Novartis AG, Omada Health, Inc., Proteus Digital Health, WellDoc, Inc.,Propeller Health among others.

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By Products

• Software
• Devices

By Application

• Cardiovascular Diseases
• Central Nervous System (CNS) Disease
• Diabetes
• Gastrointestinal Disorders (GID)
• Mental Health
• Neurology
• Obesity
• Ophthalmology
• Respiratory Diseases
• Smoking Cessation
• Others

By Distribution Channel

• Business to Business
• Business to Customer

By End User

• Patients
• Healthcare Providers
• Payers
• Employers
• Other (Fitness and Wellness Centers, Gym, Etc.)

By Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
 Denmark
 Finland
 Iceland
 Sweden
 Norway
• Benelux Union
 Belgium
 The Netherlands
 Luxembourg
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
 Indonesia
 Thailand
 Malaysia
 Singapore
 Rest of South Asia
• Australia
• New Zealand
• South Korea
• Rest of Asia Pacific

Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

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