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Digital Therapeutics Market (22.1% CAGR) 2020 to 2028: Global Industry Size, Share, Growth and Forecast
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Digital therapeutics is a branch of a digital health system that utilizes online health technology for the treatment of certain medical conditions of the patients. Digital therapeutics helps in the treatment of multiple diseases by making modifications in patient behavior and execute the essential monitoring in order to enhance long-term health results. It can be used to treat numerous diseases such as diabetes, dementia, congestive heart failure, cardiovascular disease, respiratory diseases, and obesity, etc. Digital therapeutics offers a brand-new approach for the treatment of disease in which digital systems empower patients in managing their own health and disease conditions. Digital therapeutics is equipped with the internet, mobile phone, artificial intelligence, machine learning, and big data analytics to optimize treatment for a patient. The Digital Therapeutics Market is majorly driven by factors such as the rising adoption of digital technologies such as smartphones and tablets along with healthcare applications. Moreover, the rising prevalence of chronic diseases and increasing need to curtail escalating healthcare costs are also some of the prominent market driving factors. Further, rising need for preventive healthcare, technological advancements in healthcare, and significant advantages of digital therapeutics such as patient convenience, user-friendliness ability to induce behavioral changes, and enhanced drug compliance is projected to fuel the market demand for Digital Therapeutics over the forecast period. However, lack of awareness about digital therapeutics and patient data privacy concerns can restrain the market growth to some extent.
Geographically, The Digital Therapeutics Market is divided into global regions like Europe, North America, Asia- Pacific, Latin America, Middle East, and Africa.
The primary key players in the Digital Therapeutics Market include Proteus Digital Health, Omada Health Inc., WellDoc Inc., 2Morrow Inc., Livongo Health, Propeller Health, Twinehealth, Canary Health, Inc., Mango Health, Inc., and Noom Health Inc.
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The Global Digital Therapeutics Market Has Been Segmented Into:
By Product Type
Software
Device
By Application Type
Diabetes
Obesity
Cardiovascular Disease (CVD)
Central Nervous System (CNS) Disease
Respiratory Diseases
Smoking Cessation
Gastrointestinal Disorder (GID)
Others
By End Use Type
Patients
Providers
Payers
Employers
Others
By Geography Type
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Sheer Analytics and Insights as firm is created to balance between client requirements without compromising the core values of Market research in –terms of quality, factual correctness, market awareness and analysis. SAI goes back to the root of Market Research in terms of TAM (Total Available Market) and PAM (Potential Available Market) and assess the same quantifying all Push and Pull factors.
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