Press release
Global Digital Therapeutic market is projected to register a healthy CAGR of 20.5% in the forecast period of 2020 to 2026
Digital Therapeutic Market - Axiom MRC
On account of mobile technologies like monitoring devices, patients can assume responsibility for their health through simple to-use applications. As software and health care unite to make digital therapeutics, this new type of life sciences innovation is assisting to transform patient care and convey better clinical results. An increasing number of start-ups and well-established technology companies are presenting innovative applications intended to enable patients to take greater control of their care.
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The digital therapeutics market is driven by surge in adoption of smartphones and tablets integrated with healthcare apps and increase in the chronic disorders across the world. Trends such as government initiative and venture capital funding are also promoting the growth of digital therapeutics market over the estimated timeframe. Furthermore, rise in preventive healthcare practices, effective management of chronic diseases and digitalization of healthcare are supporting the expansion of digital therapeutics market. However, the lack of awareness regarding digital therapeutics in emerging countries and data privacy concerns among patients hinder the market growth. Nevertheless, high potential for development offered by the developing nations market is expected to create lucrative opportunities for the market in the near future.
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The report analyses the global digital therapeutics market based on application, sales channels, and geography. Digital therapeutics finds application in preventive and treatment or care related applications. The preventive applications include prediabetes, obesity etc. Whereas, treatment application includes diabetes, cardiovascular diseases, CNS disorders, respiratory disease, smoking cessation, gastrointestinal disorders etc. Based on sales channel, the digital therapeutics market is categorised into patients, providers, payers, employers etc. The market is studied for various countries of key regions such as North America, Europe, Asia Pacific and rest of the World.
North America is likely to hold majority of the market share owing to rise in geriatric populace, surge in incidence of chronic diseases, increase in demand for wireless & portable systems, and availability of sophisticated reimbursement structure that aims in reducing expenditure. However, Asia Pacific is anticipated to show fastest growth over the forecast period owing to continuous development in the healthcare industry and rise in awareness regarding digital health and increase in number of patients with chronic illness.
The key players of digital therapeutics market include Noom (US), PBetter Therapeutics (US), Happify (US), Kaia Health (Germany), Mango Health (US), Click Therapeutics (US), Canary Health (US), Wellthy Therapeutics (India), Cognoa (US), Ayogo Health (Canada), Livongo Health (US), Omada Health (US), WellDoc (US), Pear Therapeutics (US), Mindstrong Health (US), 2Morrow (US), and Ginger (US), roteus Digital Health (US), Propeller Health (US), and Akili Interactive Labs (US) among others.
Our Other Related Reports:
Digital Diabetes Management Market Report:
https://axiommrc.com/product/hc1896-digital-diabetes-management-market-report
Digital Medicine Market Report:
https://axiommrc.com/product/hc2034-digital-medicine-market-report
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Axiom Market Research & Consulting™ is a full-service market research and data analytics company providing key market intelligence to global companies to take informed business decisions pertaining to their marketing strategy, investments, new product launches, market competition, consumer or end users, social media trends etc.
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