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Digital Therapeutics Market Driven by Rising demand for Technological Advancements in Mobile Healthcare
Digital Therapeutics
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Competitive Landscape and Digital Therapeutics Market Share Analysis
Omada Health, Inc., ResMed, SAMSUNG, GAIA AG, Pear Therapeutics, Inc., Welldoc’s Bluestar, Solera Network, Akili Interactive Labs, Inc., Better Therapeutics, LLC, BigHealth, Biofourmis, Click Therapeutics, Inc., Happify, Inc., Limbix Health, Inc., Naturalcycles Nordic AB, NuvoAir AB, Sensyne Health plc, Voluntis, Xealth
Digital therapeutics is a subset of digital healthcare that helps to prevent, manage and treat a medical disease or a disorder. Moreover, digital therapeutics also help to treat psychological conditions. Digital therapeutics help to improve patient outcomes as it is evidence-based digital healthcare technology. Digital therapeutics technology is effective and efficient in diagnosing conditions that are poorly addressed by the healthcare system such as chronic diseases, neurological disorders, and much more. Not just that, digital therapeutics help to deliver cheaper healthcare treatment and saves a good amount of time for the patient as well as the healthcare provider.
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The rising penetration of smartphones, tablets, and other similar gadgets coupled with rising healthcare applications and software have propelled the growth in demand for digital therapeutics. The rising incidence of chronic diseases coupled with rising demand for controlled costs of healthcare facilities and treatment has further fuelled the demand for digital therapeutics. Rising advancements in technological up-gradation will further boost up the digital therapeutics market value.
Global Digital Therapeutics Market Scope and Market Size
• Based on the product type, the digital therapeutics market has been segmented into software and devices.
• Based on the sales channel, the digital therapeutics market has been segmented into B2C and B2B. B2C is sub-segmented into patients and caregivers. B2B is sub-segmented into providers, payers, employers, pharmaceutical companies and other buyers.
• Based on the applications, the digital therapeutics market has been segmented into preventive applications and treatment/care-related applications. Preventive applications are further sub-segmented into pre-diabetes, obesity, nutrition, lifestyle management and other preventive applications. Treatment/care-related applications are also sub-segmented into diabetes, CNS disorders, chronic respiratory disorders, musculoskeletal disorders, cardiovascular diseases, smoking cessation, medication adherence, gastrointestinal disorders, substance use and addiction management, rehabilitation and patient care and other treatment/care-related applications.
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Digital Therapeutics Market Country Level Analysis
The countries covered in the digital therapeutics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the digital therapeutics market where the U.S. is the largest contributor. This is due to rising focus on improvement and advancement of healthcare technologies coupled with increased research and development proficiencies in this direction. Favourable reimbursement policies coupled with presence of major and key players in this region are also acting as major growth determinants for the market. However, it is Asia-Pacific region which is set to undergo the highest compound annual growth rate during the forecast period. This is because of the increased investment in healthcare infrastructure coupled with rising prevalence of chronic diseases. Rising smartphone penetration coupled with rising awareness regarding various self-management healthcare applications will further boost up the digital therapeutics market growth.
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