Global Digital Therapeutics Market Trends, Challenges and Growth Drivers by Key Players such as GINGER.IO, Glooko, Inc., Livongo Health, BLUE MESA HEALTH

The global report titled as Digital Therapeutics market has recently published by Absolute Markets Insights to its huge repository. This research report involves massive data which can influence the development of the Digital Therapeutics market. This exploration report provides effective data which can act as a guideline for handling the risks and challenges faced in the businesses. It covers the major recent trends that are influencing the growth of the global Digital Therapeutics market. Primary and secondary research techniques have been used by analysts of this research report to examine the market effectively.

In terms of revenue, the software segment accounted for more than 60% of the overall digital therapeutics market. The software based tools helps in managing the conditions of patients by modifying their behavioral patterns. The concept of more apps and fewer drugs can be an effective means to cure chronic diseases. For instance, the management of diabetes require regular interventions about glycemic control and adjusting insulin dose, thus offering patients a friendly self-tracking tool that organizes virtual visits with caregivers via communication interface. Astonishing Growth in Digital Therapeutics Market Is Anticipated to Grow at a CAGR of 21.1% and Reach US$ 9,121.8 Million

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Growing rates of chronic diseases in developing countries is predicted to drive the worldwide digital therapeutics market. The global digital therapeutics market is estimated to be valued at US$ 1975.1 million in 2019 and is expected to reach US$ 9,121.8 million by 2027, growing at an estimated CAGR of 21.1% over the forecast period. Blue Star, an in-app coach developed by Welldoc effectively helps in management of hypertension, diabetes and weight. It primarily provides real time tips to assist individuals in self-management. However, lack of awareness among consumer including its fear regarding the effectiveness is predicted to critically impact the market growth.

The high growth potential within the developing and emerging nations is predicted to propel the general market growth. In 2018, there was a real-world pilot study of Wellthy Diabetes (WD), a digital therapeutic tool for people affected by Type 2 diabetes together with an insurance provider. This was designed receive that real time feedback of self-reported glucose, meals, physical activity and weight. The pilot study proved to be a clinically effective intervention for the consumers also health insurers in Southeast Asia.

Based on geography, this Digital Therapeutics market is studied across global regions such as North America, Latin America, Asia-Pacific, Africa, and Europe. Different leading players have been profiled to get a detailed description of various effective strategies carried out by top-level companies. While curating this statistical report different graphical presentation techniques such as info graphics, charts, tables, and pictures have been used for a better understanding of the Digital Therapeutics market. After studying the key companies, it focuses on the startups contributing to the progress of the Digital Therapeutics market.

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Key Findings of the Report:

• Amongst application, the obesity segments is anticipated to exhibit the highest growth. The same is expected to grow at a CAGR of 22.4% over the forecast period. In 2015, more than 40% of the 93 million people were considered obese in the United States. Factors such as sedentary lifestyle all the more increases the risk of chronic illnesses such as stoke, hypertension and type-2 diabetes. The company named Omada Health carries out digital therapeutic innovations to control blood sugar, obesity, blood fats and blood pressure of an individual.
• Business to business segment is expected to witness a CAGR of 21.2% over the forecast period. The Israeli pharmaceutical company named Teva pharmaceuticals earned FDA approval for a new digital therapeutic system in 2019 that will help to reduce unnecessary readmissions and respiratory disease costs. This will help the providers to help reduce 30-day re-admission rates.
• Asia Pacific region is expected to witness the highest growth rate over the forecast period. Increasing usage of smartphones coupled with rising government initiatives is expected to assist the growth of Asia Pacific region.
• Key players operating in the digital therapeutics market are GINGER.IO, Glooko, Inc., Livongo Health, BLUE MESA HEALTH amongst others.
• Partnership, collaboration, expansion and acquisition are some of the strategies adopted by companies to expand their space in the digital therapeutics market.

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Global Digital Therapeutics Markets:

By Products
• Software
• Devices

By Application
• Cardiovascular Diseases
• Central Nervous System (CNS) Disease
• Diabetes
• Gastrointestinal Disorders (GID)
• Mental Health
• Neurology
• Obesity
• Ophthalmology
• Respiratory Diseases
• Smoking Cessation
• Others

By Distribution Channel
• Business to Business
• Business to Customer

By End User
• Patients
• Healthcare Providers
• Payers
• Employers
• Other (Fitness and Wellness Centers, Gym, Etc.)

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