The global Digital Therapeutics (DTx) Market is projected to reach USD 6.9 billion by 2027 from USD XX billion in 2020, at a CAGR of 26.7% during the forecast period (2020–2027).
Latest added Digital Therapeutics Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Omada Health, Pear Therapeutics, Proteus Digital Health, Resmed, Voluntis. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
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This report studies the Digital Therapeutics Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Digital Therapeutics Market by companies, region, type and end-use industry.
Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on ” Digital Therapeutics Market, By Technology (Digital Health, Big Data, Internet of Things), Products (Video/VR/AR, Sound, Web, Chatbot) and Geography – Global Forecast To 2026″. Early buyers will get 10% customization on study.
To Avail deep insights of Digital Therapeutics Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
Unlock new opportunities in Digital Therapeutics Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high growth opportunities for the Digital Therapeutics (DTx) market by headset type (standalone, smartphone enabled and PC-connected),by application (military, education, entertainment and media, retail, real estate and healthcare), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market (Digital Therapeutics (DTx) market, Digital Therapeutics (DTx) market share) dynamics? What are the key challenges and business risks in this Digital Therapeutics (DTx) market?
Q.5. What are the business risks and competitive threats in this Digital Therapeutics (DTx) (Digital Therapeutics (DTx) market, Digital Therapeutics (DTx) market share) market?
Q.6. What are the emerging trends in this Digital Therapeutics (DTx) (Digital Therapeutics (DTx) market share) market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the Digital Therapeutics (DTx) (Digital Therapeutics (DTx) market share) market?
Q.8. What are the new developments in the Digital Therapeutics (DTx) (Digital Therapeutics (DTx) market share) market? Which companies are leading these developments?
Q.9. Who are the major players in this Digital Therapeutics (DTx) (Digital Therapeutics (DTx) market share) market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this Digital Therapeutics (DTx) (Digital Therapeutics (DTx) market share) market and how big of a threat do they pose for loss of market share by material or product substitution?
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The growth of the digital therapeutics market is primarily driven by factors such as government initiatives for preventive healthcare, technological advancements in mobile healthcare, a significant increase in venture capital investments, and the benefits of digital therapeutics, such as the ability to induce behavioral change (an important challenge in healthcare), user-friendliness, patient convenience, and improved drug compliance. On the other hand, a lack of awareness and access to digital therapeutics programs in developing countries, patient data privacy concerns, unstable payment models, and resistance from traditional healthcare providers are challenging the growth of this market to a certain extent.
B2B segment is expected to grow at the highest CAGR during the forecast period
Based on the sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B). In 2020, the B2B segment accounted for the largest market share; it is also expected to grow at the highest CAGR of the digital therapeutics market. There is growing awareness among providers, payers, and employers about the benefits provided by digital therapeutics and the healthcare cost reductions achieved by their use. Additionally, there is a growing inclination of pharmaceutical companies to integrate digital therapeutics with their drug product to offer adherence services along with the product. These are some factors responsible for the high share of this market segment.
Caregivers segment is expected to dominate the market
Based on the type of buyer, the B2C sales channel market is further segmented into patients and caregivers. The caregivers segment is expected to dominate the market and register the highest CAGR during the forecast period. The high growth of this segment is attributed to company initiatives for the development of products specifically for caregivers and the fact that digital therapeutics help caregivers in better managing their patients.
The treatment/care-related applications segment accounted for the largest share of the digital therapeutics market in 2020.
Based on the application, the digital therapeutics market is segmented into preventive and treatment/care-related applications. One of the key factors driving the growth of this segment is the rise in treatment and healthcare costs, especially due to chronic conditions. Rising healthcare costs, the growing prevalence of chronic diseases, and the ability of digital therapeutics to provide cost-effective solutions are some factors responsible for driving the market for treatment/care-related digital therapeutics applications.
North America accounted for the largest share of the digital therapeutics market in 2020.
The global digital therapeutics market is segmented into North America, Europe, the Asia Pacific, and the RoW. In 2019, North America (US and Canada) held the largest share of the market, followed by Europe. The major factors supporting market growth include the increasing investments in digital therapeutics, the influx of new start-ups, improvements in the reimbursement structure for digital therapeutics, and government initiatives to support technological advancements.
Key players in the digital therapeutics market
The digital therapeutics market is fragmented in nature, with a large number of players, including tier 1 and mid-tier companies competing for market shares. The prominent players in the global digital therapeutics market include Noom (US), Livongo Health (US), Omada Health (US), WellDoc (US), Pear Therapeutics (US), Proteus Digital Health (US), Propeller Health (US), Akili Interactive Labs (US), Better Therapeutics (US), Happify (US), Kaia Health (Germany), Mango Health (US), Click Therapeutics (US), Canary Health (US), Wellthy Therapeutics (India), Cognoa (US), Ayogo Health (Canada), Mindstrong Health (US), 2Morrow (US), and Ginger (US).
Omada (US): Omada Health is a pioneer in the field of digital therapeutics. The company has attracted significant investments to enhance its solutions, particularly its digital prediabetes program ‘Prevent.’ In June 2019, the company secured USD 73 million from its investors for the development of digital care health programs focusing on preventable chronic conditions. To support its organic growth, the company focuses on R&D to continuously improve and upgrade its products. In this regard, in February 2016, Omada launched a new version of its Prevent program with additional features designed to meet the growing needs of its customers. In addition, the company is focusing on broadening its product offerings beyond diabetes—in January 2019, the company launched a mental health program, mHealth Platform, for anxiety and depression. The company is also working in partnership with many employers, payers, healthcare systems, and pharma companies.
Scope of the Report
The research report categorizes the digital therapeutics market into the following segments and subsegments:
Digital Therapeutics Market, by Sales Channel
- Pharmaceutical Companies
- Other Buyers
Digital Therapeutics Market, by Application
- Lifestyle Management
- Other Preventive Applications
- CNS Disorders
- Chronic Respiratory Disorders
- Musculoskeletal Disorders
- Cardiovascular Diseases
- Smoking Cessation
- Medication Adherence
- Gastrointestinal Disorders
- Substance Use & Addiction Management
- Rehabilitation & Patient Care
- Other Treatment/Care-related Applications
Digital Therapeutics Market, by Region
- North America
- Rest of the World (RoW)
Key Questions Addressed by the Report
- Where will these developments take the industry in the mid to long-term?
- What types of annual and multi-year partnerships are companies in the digital therapeutics market exploring?
- Who are the key players in the market, and how intense is the competition?
- What are the recent contracts and agreements that key players have signed?
- What are the recent trends affecting digital therapeutics market players?
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