Global Digital Therapeutics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
The Digital Therapeutics Market Report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.
The Digital Therapeutics Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global digital therapeutics market report has been segmented on the basis of product type, application, and region.
Digital Therapeutics Market Overview:
The Digital Therapeutics Market was valued at $3.8 billion in 2021 & is projected to reach $14.2 billion by 2027. It is expected to grow at a 26% CAGR between 2021 and 2027.
Digital therapeutics are digital health management solutions that treat chronic conditions by using behavioral therapies. Digital therapeutics are effective in producing clinical outcome improvements for various chronic diseases such as prediabetes, diabetes, obesity, etc.
The treatment is based on the behavioral and lifestyle changes of an individual. Digital therapeutics mainly consists of software solutions that offer various services such as disease/medication management, patient-clinician communication, fitness or wellness tracking, medical guidance and education, insurance search, and professional search pertaining to practitioners.
Increasing penetration of the internet and growing adoption of smartphones across the globe are key factors driving the growth of the global digital therapeutics market.
In addition, the adoption of digital therapeutics offers various benefits such as improved drug administration and the ability to induce behavioral changes which is another factor expected to propel the adoption of digital therapeutics which in turn is anticipated to fuel the growth of the global digital therapeutics market over the forecast period.
However, concerns related to data privacy are a major factor restraining the growth of the global digital therapeutics market. Additionally, lack of awareness about digital therapeutics especially in developing economies is another factor expected to hamper the growth of the global digital therapeutics market over the forecast period.
The market in North America is expected to account for the highest share in terms of revenue and is expected to maintain its dominance over the forecast period.
This dominance can be attributed to the relatively high adoption of technologies and increasing government initiatives for support of advancements in digital therapeutics in the region.
The market in the Asia Pacific is expected to register significant growth in the target market over the forecast period, owing to the growing demand for advanced therapeutics due to the increasing incidence of chronic diseases in emerging economies such as China, India, and Japan.
Global digital therapeutics market segmentation:
By Product Type:
- Cardiovascular Diseases
- Respiratory Diseases
- Fitness and Wellness
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Proteus Digital Health, Inc.
- Omada Health, Inc.
- Doximity, Inc.
- 2Morrow, Inc.
- io, Inc.
- WellDoc, Inc.
- Mango Health, Inc.
- Canary Health Inc.
- Twine Health, Inc.
- Noom, Inc.
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