Promising growth at a CAGR of around 14.2% in the Digital Therapeutic Devices Market during the forecast period, 2018 to 2023| Dominant Vendors - BIOTELEMETRY INC., CANARY HEALTH, LIVONGO HEALTH, PROPELLER HEALTH, WELLDOC INC., among others

Market Analysis:

North America to Dominate the Market
North America is expected to dominate the market, owing to the early adoption of new technologies and rising investment through funding in this region. The funding is associated with rising investment from government, venture capitalists, mergers, and acquisitions. Further, Asia-Pacific is expected to grow at a higher rate as compared to other regions.

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There has been a rise in the use of technology for therapeutics toward medical conditions. The consumers in developed markets are increasingly aware of the advanced products for treatment of medical conditions. Particularly, due to rise in disposable incomes, this enables them to adopt these products. The preference is also, therefore, shifted toward the advanced services in the medical field including the growing demand for innovations in therapeutic devices. Along with this factor, the increased focus toward preventive healthcare by the government is also one of the major driving factors. Factors, such as patient’s data privacy concerns associated with digital therapeutic devices, high cost of manufacturing and installation and resistance of public to traditional healthcare providers hinder the growth of this market.

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Market Segments
Digital Therapeutic Devices Market is segmented by:
1. Product: Pain Management Devices, Rehabilitation Devices, Respiratory Therapy Devices, Insulin Pumps
2. Application: Preventive (Pre-diabetes, Obesity, Smoking Cessation, Others), Treatment/Care (Cardiovascular Diseases, Central Nervous System Disease, Diabetes, Musculoskeletal Diseases, Respiratory Diseases, Others)
3. End User: Patients, Providers, Pharmaceutical Companies, Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• January 2018: Voluntis and WellDoc announced a commercial agreement to develop holistic digital diabetes management solution for healthcare system, patients, and providers
• September 2017: Pear Therapeutics' reSET system granted a de novo clearance by the FDA for the treatment of substance abuse.

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