Global Digital Therapeutics Market Trends, Business Overview, Industry Growth and Forecast to 2022-2028

The global digital therapeutics market is estimated to grow at a CAGR of 21.0% during the forecast period (2022-2028). The major factor expected to drive the market growth is the increase in adoption of smartphones and tablets, coupled with healthcare apps, growth in the need to control healthcare costs, significant benefits to the entire healthcare continuum, and rise in the incidences of chronic disease and diabetes. In 2020, according to World Health Organization (WHO), approx. 463 million adults have diabetes globally and it is projected to reach 629 million diabetes globally by 2045. In addition, a strong pipeline of potential products that are expected to be launched during the forecast period. This includes potential products of Pear Therapeutics in phase III include Pear-011 (anxiety GAD), Pear-015 (depression MDD) which are used in the treatment of adults with chronic insomnia and depression. This is offering an opportunity for the growth of the global digital therapeutics market.

Some major players in the market include Fitbit, Inc., Pear Therapeutics, Inc., and Omada Health, Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in March 2021, Pear Therapeutics, Inc. entered into a partnership with Spectrum Health Systems to test FDA-approved digital therapeutics to support people with substance use disorders and improve their recovery journeys by delivering solutions for improved treatment access and care innovation journeys by delivering solutions for care innovation and improved treatment access. Furthermore, in April 2021, Welldoc entered into a partnership with Dexacon to support BlueStar in supplying Dexcom G6 CGM as a single platform to people with Type 2 diabetes for health improvement.

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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028

• Segment Covered-
o By Application
o By Sales Channel

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Fitbit, Inc., Pear Therapeutics, Inc., and Omada Health, Inc., among others.

Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

A full report of Global Digital Therapeutics Market is available at:
https://orionmarketreports.com/global-digital-therapeutics-market/58494/

Global Digital Therapeutics Market Report by Segment

By Sales Channel
• B2C
o Patients
o Caregivers
• B2B
o Providers
o Payers
o Employers
o Pharmaceutical Companies
o Other Buyers

By Application
• Preventive Applications
o Prediabetes
o Obesity
o Nutrition
o Lifestyle Management
o Other Preventive Applications
• Treatment/Care-related Applications
o Diabetes
o CNS Disorders
o Others

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Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.