Digital Therapeutics Market to Grow with Rising Prevalence of Chronic Diseases Estimating 20.8% of CAGR by 2025 - Livongo Health, Proteus Digital Health, WellDoc, Fitbit, Omada Health
The global digital therapeutics market is expected to reach US$ 8,941.1 Mn by 2025 from US$ 1,993.2 Mn in 2017. The market is estimated to grow with a CAGR of 20.8% during the forecast period from 2018 to 2025.
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. 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.
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Product launch/update and partnerships were observed as the most adopted strategy in global digital therapeutics industry. Few of the product approvals and partnerships made by the players in the market are listed below:
2017: In November, Propeller Health and Express Scripts entered into a partnership to provide Propeller’s FDA-cleared digital solutions to Express Scripts to manage asthma or COPD.
2016: In November, Propeller Health received FDA approval for its Propeller platform for use with GSK’s Ellipta inhaler.
2018: In April, Canary Health entered into a partnership with NMRHCA to offer the Better Choices, Better Health (BCBH) digital therapeutics program in New Mexico.
2016: In June, Canary Health partnered with Medtronic to expand their diabetes care offerings with Canary Health's self-management suite for pre-diabetes, diabetes and related comorbidities.
DIGITAL THERAPEUTICS – MARKET SEGMENTATION
• Cardiovascular Diseases
• Central Nervous System (CNS) Disease
• Respiratory Diseases
• Smoking Cessation
• Musculoskeletal Diseases
• Other Applications
By Distribution Channel
• North America
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• Saudi Arabia
• South Africa
• South America (SAM)
• 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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