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Digital Therapeutics Market to Reach US$ 13 Billion by 2027 Globally |CAGR: 24.5%| Industry Overview by Top Players - Fitbit Inc., Medtronic, Omada health, Livongo health, Proteus digital health, pear therapeutics, Propeller health, Virta health, 2morrow

10-20-2021 12:02 PM CET | Health & Medicine

Press release from: UnivDatos Market Insights (UMI)

digital therapeutics market

digital therapeutics market

A comprehensive overview of the digital therapeutics market is recently added by UnivDatos Market Insights to its humongous database. The digital therapeutics market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the digital therapeutics market. The digital therapeutics market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the digital therapeutics market at the global and regional levels. The Global Digital Therapeutics Market is expected to grow at a CAGR of 24.5% from 2021-2027 to reach US$ 13 billion by 2027.

Market Overview
The Global digital therapeutics market is experiencing significant growth on account of the increasing patient pool and higher mortality rate due to chronic diseases (heart diseases, cancer, and diabetes worldwide). For instance, According to World Health Organization, the prevalence of chronic diseases is anticipated to rise by 57% in 2020 and 71% of all deaths are due to non-communicable diseases. 8.89 million deaths due to ischemic heart disease and about 6.19 million deaths because of stroke in 2019. Furthermore, in 2020, there were an anticipated 19.3 million new cancer cases (18.1 million excluding NMSC, except basal cell carcinoma) and 10 million cancer mortality cases (9.9 million excluding NMSC, except basal cell carcinoma) worldwide. Owing to these alarming facts, worldwide demand for digital therapeutics is rising as they treat a wide range of chronic illnesses and other behavioral disorders along with addressing other unmet patient needs via superior applications and software.

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Furthermore, the growth of the digital therapeutics market is also attributable to the growing penetration of smartphone and internet users coupled with the numerous healthcare applications available across different platforms. For instance, there are currently 3.5 billion smartphone users worldwide (Statista, 2019). Considering the total number of people using phones globally is at 4.8 billion, that means that nearly 73 percent of them are users of smartphones. In addition to this, according to Healthcare Information and Management Systems Society, Approximately 64% of adults in the United States regularly use an application to measure their health metrics.

Additionally, the surging cost for treatment and hospitalization coupled with the increasing geriatric population is also a major reason for people shifting towards more cost-effective health solutions propelling the growth of digital therapeutics markets all over the globe. For instance, according to a report published in the Journal of American Medical Association, Diabetes affects over 9% of Americans with medical expenses totaling over $100 billion per year. In addition to this, Cardiovascular diseases are one of the major causes of death in the United States, killing over 600,000 people a year, according to the CDC. As per American Heart Association (AHA), the costs of cardiovascular disease total more than $318 billion and are expected to reach $749 billion by 2035.

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Global digital therapeutics market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Application, the market is primarily fragmented into
• Treatment/Care-Related Applications
• Diabetes
• Central Nervous System Disorders
• Smoking Cessation
• Chronic Respiratory Diseases
• Musculoskeletal Disorders
• Cardiovascular Disorders
• Gastrointestinal Diseases
• Rehabilitation & Patient Care
• Other Treatment/Care Applications
• Preventive applications
• Prediabetes
• Obesity
• Nutrition
• Lifestyle Management
• Other Applications

The Treatment/Care-Related Application segment dominated the global digital therapeutics market and will row at X% CAGR to reach US$ X billion by the year 2027. However, preventive care applications are also likely to see notable growth owing to various government initiatives and greater emphasis on proven preventive healthcare solutions. For instance, as per Healthy People, a federal program administered by the United States Department of Health and Human Services, routine cardiovascular checkups alone save tens of thousands of adult lives every year, while vaccinations save the lives of approximately 42,000 children per year.

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By Sales Channels, the market is primarily segmented into
• Business-to-Business(B2B)
• Payers
• Employers
• Providers
• Pharmaceutical Companies
• Others
• Business-to-Customer(B2C)
• Caregivers
• Patients

Amongst Sales Channels, the B2B segment accounted for the largest market share in 2020 is likely to maintain its dominance during the projected timeframe owing to the various benefits offered by digital therapeutics to payers, employers, and providers. Apart from this, various pharmaceutical companies are partnering with digital therapeutics companies to build and expand access to software-based healthcare solutions that will improve patient outcomes. For example, Sanofi partnered with Happify Health, a digital mental health company to develop a prescription digital tool for treating depression among people living with multiple sclerosis (MS).

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Digital Therapeutics Market Geographical Segmentation Includes:
• North America (United States, Canada, and Rest of Europe)
• Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
• Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World

Geographically, the North American region dominated the digital therapeutics market with almost US$ x billion revenue in 2020 owing to the increasing disposable income of the consumers and the number of key players in the region. In addition to this, the increasing burden of chronic diseases in the United States and the number of people adopting digital therapeutics are further augmenting the global digital therapeutics market.
For instance, current digital therapeutics users across the world are nearly 44 million and are expected to reach nearly 652 million by 2025 with the majority of users situated in North America.

The major players targeting the market includes
• Fitbit, Inc.
• Omada Health
• Medtronic PLC
• Livongo Health
• Pear Therapeutics
• Propeller Health
• Virta Health
• 2morrow
• Proteus Digital Health
• Kaia Health

Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the digital therapeutics market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the digital therapeutics market?
• Which factors are influencing the digital therapeutics market over the forecast period?
• What are the global challenges, threats, and risks in the digital therapeutics market?
• Which factors are propelling and restraining the digital therapeutics market?
• What are the demanding global regions of the digital therapeutics market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
• We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

Final Report will add the analysis of the impact of COVID-19 on this industry.”
In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

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A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?
• The market report presents the estimated market size of digital therapeutics market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
• The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
• The various parameters accelerating the growth of Market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?
• Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
• The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
• The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
• Based on what factors are the key market players assessed in this report?
• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in the Market including Key Playes
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
• the manufactured products is incorporated in the report.
• The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?
• Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
• The report offers the present scenario and future growth prospects Market in various geographical regions.
• The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
• The SWOT analysis is conducted along with Porter's Five Force analysis.
• The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

Table of Content –
1 Market Introduction
2 Research Methodology Or Assumption
3 Market Synopsis
4 Executive Summary
5 Top Start-Ups Under Digital Therapeutics Sector
6 Digital Therapeutics Amid Covid-19
7 Global Digital Therapeutics Market Revenue (USD Bn), 2019-2027
8 Market Insights By Application
9 Market Insights By Sales Channels
10 Market Insights By Region
11 Digital Therapeutics Market Dynamics
12 Digital Therapeutics Market Opportunities
13 Digital Therapeutics Market Trends
14 Legal & Regulatory Framework
15 Demand And Supply Side Analysis
16 Value Chain Analysis
17 Competitive Scenario
18 Company Profiled
19 Disclaimer

UnivDatos Market Insights
Pawnendra Pawan
Client Development Lead
Ph: +91-7838604911

About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

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