Press release
Digital Therapeutics Market [2023-2030] to Grow Significantly Owing to Rapid Adoption of Technological Advancements | Top Players Covered are Proteus Digital Health, Inc, Omada Health Inc., Welldoc Inc., Livongo Health and Others
Digital Therapeutics
The delivery of empirically supported therapeutic interventions to patients is made possible by digital therapeutics. It is administered using software and equipment in order to treat, manage, or prevent a medical issue. Applications for digital therapeutics can be used alone or in conjunction with other treatments, tools, or medications to achieve patient care and health outcomes. The designs, clinical validation, usability, and data protection of all digital therapeutics solutions are based on cutting-edge technology best practices.
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Key Players in the Global Market to Focus on Expanding their Customer Base
The major companies in the global digital therapeutics market, which hold a substantial market share in digital therapies and wellness, are focusing on expanding their customer base in new countries. Prominent companies are strategically working together to raise their market share and profits. On the other hand, due to technological advancements and product breakthroughs, mid-size and smaller enterprises are increasing their market presence by securing new contracts and breaking into new sectors.
Key Players Covered in this Report are:
• Proteus Digital Health, Inc
• Omada Health Inc.
• Welldoc Inc.
• Livongo Health
• Noom Inc.
• Propeller Health
• CANARY HEALTH
SEGMENTATION
By Product Type
• Software
• Devices
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By Application
• Diabetes
• Weight Management
• Cardiovascular Diseases
• Respiratory Diseases
• Others
Rising Incidences of Diabetes Fuels Growth of the Diabetes Application Segment
The diabetes application segment has been accountable for the largest revenue share of the global digital therapeutics market. One of the elements driving the segment's growth is the increasing prevalence of diabetes and other chronic diseases. According to each patient's specific therapeutic demands, healthcare providers can employ digital therapies to examine patients' lives and optimize treatment programs.
Digital therapeutics offer affordable treatments for a variety of chronic diseases, which is projected to drive market growth in the near future. Obesity, CVDs, and smoking cessation are anticipated to experience noticeable growth rates during the projection period. The market is expanding as a result of the increasing use of digital therapeutic solutions to treat respiratory conditions2Morrow, Inc.
By Sales Channel
• Business-to-Business
• Business-to-Consumers
By Region
• North America
• Europe
• Asia-Pacific
• South America
• The Middle East and Africa
North America Leads Owing to Governmental Support Technological Advancements
North America has been dominating the market share of the global digital therapeutics market and is expected to continue with its dominance during the forecast period due to the high prevalence of chronic diseases in the region and government measures to support technological innovation and advancement in digital medicines.
In terms of revenue, the U.S. reportedly dominates both the global and North American markets for digital therapies. Additionally, it is certain that the changing payment structure for digital therapeutic solutions and increasing investment in the area will serve as the main growth drivers for the U.S. digital therapeutics business.
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Key Developments -
● November 2019- Welldoc and Astellas Pharma Inc. collaborated on the development of the Bluestar product and its introduction in Japan and Asia.
● October 2019- 2Morrow released the first smartphone app for digital health to help teenagers and young people stop vaping.
● June 2019- Catasys Inc. announced that it would be partnering with CANARY HEALTH to provide digital therapy to a wider range of people.
TABLE OF CONTENTS-
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Digital Therapeutics Market
Chapter 5. Global Digital Therapeutics Market Overview, By Product Type, 2017 - 2030 (USD Million)
……Continued
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