Global "Digital
therapeutics Market" 2025 Industry
research report covers the industry overview with Marketplace Size, Share,
Development, futuristic cost, earnings, demand and distribution data. Its vast
repository offers an analytical summary of the marketplace that can help to the
new and existing player to take a significant decision.
In this report, we
thoroughly examine and analyse the Global market for Digital therapeutics so
that market participants can improve their business strategy and ensure
long-term success. This report provides players with useful information and
suggests result-based ideas to give them a competitive advantage in the global Digital
therapeutics industry. It will show how other players compete in the global Digital
therapeutics Market and explain the strategies you use to differentiate
yourself from other participants.
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Industry Insights
The global digital
therapeutics market size was estimated at USD 1.7 billion in 2016. Digital
therapeutics is a subset of digital health and is used to track health
conditions and self-management of a medical condition. A significant change in
the usage of digital technology has created cognizance among users and has allowed
increasing adoption of these services. Moreover, there has been increased
burden of the chronic diseases that requires effective treatment and
management. There are a lot of services provided by digital therapeutics that
aid in embracing healthy habits and allow efficient tracking and management of
conditions. Digital therapeutics is thus estimated to grow at a fast rate owing
to increasing adoption among patients and other end users.
There has been a
significant rise in internet usage among people which has been one of the
significant drivers for the digital therapeutic market. Moreover, the treatment
associated with the digital therapeutics is popular which is further adding to
the growth of the digital therapeutic market. Chronic diseases are major problems
and act as threats to the economy leading to high healthcare expenditure. For
instance, according to the CDC, about 50 % of the adult population were
suffering from the chronic diseases in 2012. As chronic diseases like diabetes,
obesity and other respiratory problems are well managed with the help of the
digital therapeutics they are being used on an increasing level.
The market growth is
affected by the lack of the effective monetization techniques which are faced
by the application developers. There has been a shortage of the financial
earnings which are partially fulfilled by the advertisements, paid content, and
other prominent revenue generation strategies.
Application Insights
Based on the application,
the market is classified into diabetes, obesity, cardiovascular diseases,
central nervous system disease, respiratory diseases, smoking cessation, and
others. Diabetes accounts for the largest market share of the application
segment followed by other applications. Diabetes causes heavy burden on patients
as well economies on the health front as well as the economic front. For
instance, 8.3 % of the U.S. population suffer from diabetes while 35% of them
exhibit prediabetes symptoms. Also diabetes is expected to show the fastest
growth in the application segment due to the high prevalence and incidence of
the disease. Digital management is helpful in the management of the symptoms of
diabetes such as polyuria, polydipsia, and polyphagia. A large number of
medical practitioners are using mHealth and have estimated that diabetes would
reach its highest market limit in the next 5 years.
End use insights
Based on end use, the
digital therapeutics market is divided into the patients, employers, providers,
payers, and others. Patients are the major consumers of the therapeutic
healthcare programs and applications offered by digital therapeutics. The usage
of these services has been attributed due to increasing cognizance and added
benefits offered by digital therapeutics.
Hospitals accounted for the
largest market share owing to increased usage of digital therapeutics services
for patients admitted in these settings. The utilization of these services
allows affordable and vital healthcare to patients.
Regional Insights
The digital therapeutics
market by region is characterized into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. North America is a market
dominator in digital therapeutic market. Growing number of reforms to limit the
surge in healthcare expenditure in the country coupled with drive to focus on a
patient-centric healthcare approach is anticipated to be accountable for the
same. Furthermore, North America is a major center of a great amount of digital
therapy suppliers. The U.S. has been conveyed to spend about USD 3 trillion a
year on healthcare. In order to limit this expenditure, there is a vigorous
swing in the U.S. healthcare sector that emphasis focused towards palliative
care, to endorse overall patient wellness as an alternative of medical
treatment.
Asia Pacific is anticipated
to record fastest growth rate, due to two main attributes, namely, a highly
solid population base that adapts into an enormous target base and rapid
development that involves fast changing technological scenario. Moreover,
constant improvements in countries to check the deficiency of proper
infrastructure and preserve sustainable growth through economic intervention is
expected to help the market growth.
Competitive Insights
Some of the key companies
in the market comprises of Livongo Health; Twine health, Inc.; Omada Health,
Inc.; 2Morrow, Inc.; Propeller Health; WellDoc, Inc.; Canary Health, Inc.;
Proteus Digital Health, Inc.; and Mango Health, Inc. Digital therapeutics is in
its preliminary stages of development and is expected to increase its presence
in the digital market with increasing adoption of apps and services offered by
developers. Dominant players in the market are focused on development of user
friendly and simple interfaces that allows customers to use these services on a
larger level at ease.
However, growth probability
is considered to be great in the market, which is contributed by growing
adoption of therapeutic applications by leading healthcare providers to provide
better treatment options to patients.
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