Global Digital Therapeutics Industry Growth and Analysis 2016 – 2024
View Report @ http://www.transparencymarketresearch.com/digital-therapeutics-market.html
Digital Therapeutics is usually utilized in pharmaceuticals or biologics for any chronic conditions. Health monitoring, device startup, imaging technology are expected to grow at a high rate owing to increase in patient number, rising aging issues and encouraging digital education on different diseases and products utility. Digital therapeutics market is expected to grow at a significant CAGR due to their ability to digitization the mode of consultation and prescription for regular health checkups. Moreover, technological advancements in designs of telemedicine, digital tracking tool, enhanced lifestyle management, enhanced chronic condition and increase in number of hospitals and dispensaries worldwide will also support the market growth. However, lack of awareness and access to digital therapeutics programs, resistance from traditional healthcare providers and patient data privacy are certain challenges which may hamper the market growth of digital therapeutics.
The digital therapeutic market has been segmented by application, by end-user and by geography. In terms of application, the digital therapeutics has been categorized into prevention information and care-related therapeutics. Prevention market has been segmented to pre-diabetics and obesity whereas the care-related market is segmented to diabetes, smoking, liver diseases, central nervous system (CNS) disorders, musculoskeletal disorders, cardiovascular diseases, medication adherence, others. The end-users for the market include hospitals, nursing homes and rehabilitation centers. The high acuity system provider’s offer specialized programs to the end-users assisting in management of health plans by offering solutions to increasing costs of complexities in various treatments.
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Geographically, the market is segmented into five regions such as: North America, Europe, Asia Pacific, Middle East and Africa, Latin America. In North America there are 86 million pre-diabetic adults who need therapeutics and physician consultants for better health development program. North America was observed to be the largest digital therapeutic market due to extensive technological advancements in the region.
Countries such as the U.S. and Canada have been successful in implementing ambulatory health monitoring function in their healthcare system, which as a result would boost the market growth. Moreover, presence of developed IT and healthcare infrastructure, promising government initiatives in executing digital therapeutics in the current healthcare infrastructure and constantly improving reimbursement scenario would further propel the market growth. Europe was observed to be the second largest market in the digital therapeutics owing to enhanced digitization of the healthcare processes and implementation of telemedicine in the region. The major factors that will drive the market in Asia Pacific includes the acceptance and demand for high end medical infrastructure in the region. China, Japan and India are the most developing countries in the region and hence would fuel the market growth for digital therapeutics. South American countries such as Brazil and Mexico are the regions that have significant potential for growth due to evolving healthcare facility, pharmaceutical companies, and high disposable income.
The major players operating in this market include Omada Health, Canary Health, Noom Health, Livongo Health, WellDoc Inc., Propeller Health, Evolent Health, Doximity, Perfint Healthcare, Proteus Digital Health, Nanobiosym, and Zest Health among other significant players worldwide.
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