Press release
Increasing Prevalence of Chronic Diseases to Boost Demand for Digital Medicine Market Size, Trends & Forecasts (2016-2020)
Scope of the Report
The report titled The United States Digital Medicine Market: Size, Trends & Forecasts (2016-2020), provides an in-depth analysis of the scenario of digital medicine market in the United States.
The US digital medicine market has been analysed on the basis of value, segments and clinical trials sponsors. The report also provides the digital health market by categories of healthcare apps.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the US digital medicine market has also been forecasted for the period 2016-2020, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The competition in the digital medicine market is fragmented by the several small private players, such as Livongo, WellDoc, Inc., Ginger.io, Inc., Akili, Mocacare, AliveCor, Inc., 2morrow, Inc., Glooko, Inc., Omada Health, Inc., and Voluntis, etc., whose business profiling has been done in this report, which include their business overview and respective business strategies.
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Company Coverage
- 2morrow, Inc.
- Akili Interactive Labs, Inc.
- AliveCor, Inc.
- Glooko, Inc.
- Livongo
- Mocacare
- Omada Health, Inc.
- Proteus Digital Health, Inc.
- Voluntis
- WellDoc, Inc.
- Ginger.io, Inc.
Executive Summary
Globally the health related issues are on rise. These health issues surround diseases, syndromes and disorders, etc. Many of these health issues can be detected early and can be tackled by a mere dose of medicine, but there are several others that get detected on the advanced stage and have no cure. Hence, scientists and doctors are trying to accommodate the use of advanced technology and apps in the field of medicine, thus bringing digital medicine and digital health at the doorstep via mobiles.
Digital health is a platform that combines technology with personal health and genetic information, so that healthcare could be made personalized and precise. Digital health includes consumer focused fitness apps that have little or no clinical validation for patients and physicians. Digital health has been classified into EMR/HER, mobile health, telehealth and wireless health.
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Digital medicine is disease oriented healthcare, that is currently at nascent stage. Digital medicine is a subset of digital health. The concept of digital medicine revolves around studying and analysing the patients health and accordingly prescribing the customised medical aid. It involves either a combination of drugs with therapeutic treatments or simply digital therapeutic treatments; thus, providing real-time health information to the patients and the corresponding healthcare team. The major focus of digital medicine is on curing or managing the disorders or diseases that have no cure by alternative drugs, such as type 2 diabetes, obesity, mental disorders, etc. The digital medicine has three phases namely, commercialization, combination therapies and stand-alone digital therapeutics.
The digital medicine is supported by various growth drivers, such as increased smartphone usage, growing software industry, mobile phone proliferation, increasing biopharma investments, rising healthcare expenditure, and increasing population with chronic diseases, etc. Yet the digital medicine market faces several challenges, such as lack of clinical evidence, narrow functionality of apps, huge time and capital to be incurred, and regulatory hurdles, etc.
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