Press release
Global Digital Therapeutics Market Revenue and Forecasts to 2025 - Noom, 2Morrow, Livongo Health, Proteus Digital Health, WellDoc, Fitbit
The Insight Partners
Rising pressure on healthcare providers to reduce healthcare costs, the rising prevalence of chronic diseases and rising in the number of partnerships and collaborations in the market are the major factors anticipated to propel the growth for the digital therapeutics market. However, the increasing rate of cyber threat and the rise in data security issues is expected to act as major challenges hindering the market growth.
Digital Therapeutics Market to 2025- Global Analysis and Forecasts by Application (Diabetes, Cardiovascular Diseases, Central Nervous System (CNS) Disease, Respiratory Diseases, Smoking Cessation, Musculoskeletal Diseases, Others); Distribution Channel (Patients, Providers, Payers, and Employers) and Geography
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According to the report of American College of Cardiology Foundation, in 2018, Coronary heart disease (CHD) was the leading cause of deaths attributable to cardiovascular disease (CVD) in the US, which is followed by stroke (16.8%), high BP (9.4%), heart failure (HF) (9.0%), and other CVDs (17.9%). By 2035, approximately 130 million adults in the US population are projected to have some form of CVD. Thus, increasing geriatric population and related chronic diseases are expected to propel the growth of global digital therapeutics market over the forecast years.
Chronic diseases, including heart disease, stroke, diabetes, and obesity, are the leading causes of death in the world and account for most of the nation’s health care costs. According to report of CDC, in 2018, approximately more than 9% of the population has diabetes, which is the leading cause of kidney failure, lower-limb amputations in US. Moreover, the data also suggests that 1.5 million Americans are diagnosed with diabetes every year in the US. Similar trends for high presence of diabetes are prevalent around other geographies of the globe that include Asia Pacific, Europe, Middle East and Africa. For instance, according to IDF Diabetes Atlas published by the International Diabetes Federation in 2017, south-east Asia is home to approximately one-fifth (19%) of the total diabetes population worldwide.
Digital therapeutics help in reducing the costs associated with chronic diseases, by helping an individual or an insurance provider to keep a track of one’s health status as well as track it with the help of digital means. As per American Diabetes Association, the estimated costs of diagnosed diabetes have risen to $327 billion in 2017, including $237 billion in direct medical costs and $90 billion in reduced productivity. This cost can be managed efficiently by including digital therapeutics that are offered by providers to help manage diabetes, can help patients get assistance with disease management and overcome the logistical challenges uncovered by the investigators.
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DIGITAL THERAPEUTICS – MARKET SEGMENTATION
By Application
• Diabetes
• Cardiovascular Diseases
• Central Nervous System (CNS) Disease
• Respiratory Diseases
• Smoking Cessation
• Musculoskeletal Diseases
• Other Applications
By Distribution Channel
• Patients
• Providers
• Payers
• Employers
By Geography
• North America
• U.S.
• Canada
• Mexico
• Europe
• France
• Germany
• UK
• Asia Pacific (APAC)
• China
• India
• Japan
• Middle East & Africa (MEA)
• Saudi Arabia
• South Africa
• UAE
• South America (SAM)
• Brazil
Company Profiles
• Propeller Health
• CANARY HEALTH
• Noom, Inc.
• 2Morrow Inc.
• Livongo Health
• Proteus Digital Health
• WellDoc, Inc.
• Fitbit, Inc.
• Omada Health, Inc.
• MANGO HEALTH
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About Us - The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services.
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Contact Person : Sameer Joshi
Phone : +1-646-491-9876
Email Id : sam@theinsightpartners.com
Website: https://www.theinsightpartners.com
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