Digital Therapeutics Market will grow a fast rate owing to increasing adoption among patients and other end users.

A significant change in the usage of digital technology has created cognizance among users and has allowed increasing adoption of these services.

What is a Digital therapeutics:

Digital therapeutics (DTx) are a digital health category defined by the Digital Therapeutics Alliance as products that “deliver evidence-based therapeutic interventions to patients that are driven by high quality software programs to prevent, manage, or treat a medical disorder or disease.

Future of Digital therapeutics:

Advances in and the increasingly dominant role of mobile technology and artificial intelligence (AI) in our everyday lives have broadened the role of DTx in healthcare. Although, historically, interest in developing DTx was mainly confined to academia and technology companies, the potential to use DTx in conjunction with medicines to improve health outcomes has sparked the interest of big pharma, who have started to venture into the DTx space through investments and strategic partnerships with tech companies.

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.

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. 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.

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Appliactions of 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.

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.

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.

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Application:

        • Diabetes
        • Obesity
        • CVD
        • CNS Disease
        • Respiratory Diseases
        • Smoking Cessation
        • Others

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.

Global Digital Therapeutics Market Outlook & Worldwide Foresight to 2023

AUG 29, 2019: Due to increasing levels in healthcare spending combined with declining R&D returns, digital therapeutics (DTx) represent a new way of treatment in which digital systems are used as regulatory approved, to treat medical conditions as prescribed therapeutic interventions. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Digital Therapeutics Report by Material, Application, and Geography – Global Forecast to 2023 is a professional and comprehensive research report on the world’s major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China).

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In this report, the global Digital Therapeutics market is valued at USD XX million in 2019 and is projected to reach USD XX million by the end of 2023, growing at a CAGR of XX% during the period 2019 to 2023.

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The report firstly introduced the Digital Therapeutics basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world’s main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.

The major players profiled in this report include:

  • Company A
  • Company B
  • Company C

The end users/applications and product categories analysis:

On the basis of product, this report displays the sales volume, revenue (Million USD), product price, market share and growth rate of each type, primarily split into-

  • Type A
  • Type B
  • Type C

Table of Contents

Part I Digital Therapeutics Industry Overview

Chapter One Digital Therapeutics Industry Overview

1.1 Digital Therapeutics Definition

1.2 Digital Therapeutics Classification Analysis

1.2.1 Digital Therapeutics Main Classification Analysis

1.2.2 Digital Therapeutics Main Classification Share Analysis

1.3 Digital Therapeutics Application Analysis

1.3.1 Digital Therapeutics Main Application Analysis

1.3.2 Digital Therapeutics Main Application Share Analysis

1.4 Digital Therapeutics Industry Chain Structure Analysis

1.5 Digital Therapeutics Industry Development Overview

1.5.1 Digital Therapeutics Product History Development Overview

1.5.1 Digital Therapeutics Product Market Development Overview

Continued…


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