The global digital therapeutics market size was valued at USD 3.2 billion in 2021 and is poised to grow at a significant CAGR of 28.8% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Global Digital Therapeutics Market: By Application (Obesity, Diabetes, Central Nervous System Diseases, Cardio Vascular Disorders, Respiratory Disease, Others), By End User (Healthcare Providers, Payers, Employees, Others), By Region- Global/Region/Country Forecast to 2028.”
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Increasing adaptation of digital devices fuelling the Global Digital Therapeutics Market:
A few market players are working in the global digital therapeutics market as the global digital therapeutics is at development stage. Factors such as innovative digital therapies introduction and the advent of novel companies anticipated to fuel the market over the evaluation time span. For example, U.S. FDA has approved Proteus Digital Health ABILIFY MYCYTE, aripirazole tablet with the sensor allows to track the medications of the patient by taking the assistance of a wearable patch. Moreover, key players are collaborating with other companies for providing the digital therapy for the patients.
Increase in the adaptation of digital devices like smartphones across the world and the use of internet are the leading factors impelling the global digital therapeutics market. Moreover, adaptation of telemedicine and digital healthcare services and increasing consciousness are anticipated to fuel the market share in future. Furthermore, healthcare experts are also able to provide services through the digital therapeutics to remote places. Increase in the prevalence of chronic illnesses including diabetes, neurological disorders coupled with technological developments are anticipated to boost the growth of market over the prediction period. On the other hand, resistance from the traditional healthcare providers, lack of digital health services in remote places and patient data privacy are anticipated to hinder the global digital therapeutics market over the forthcoming years.
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North America got considerable share in the Global Digital Therapeutics Market:
On the basis of regional analysis, digital therapeutics market is categorized into major regions including North America, Latin America, Middle East, Africa, Europe and Asia Pacific. Among all these regions, North America market is fuelled by the increasing healthcare expenditure, well-established healthcare infrastructure and technological developments. Favorable health policies are also projected to drive the market share additionally. Growing consciousness about digital healthcare sector and increasing adaptation of digital devices are anticipated to bolster the Asia Pacific market. Increase in the healthcare spending and fast urbanization anticipated to fuel the market share particularly in the economies like China and India. China digital therapeutics market anticipated to record considerable growth rate because of the growing population rate.
The global digital therapeutics market key players are Omada Health Inc. (U.S.), Digital Health, Inc. (U.S.), Livongo Health (U.S.), WellDoc Inc. (U.S.), io Inc. (U.S.), Noom Inc. (U.S.), 2Morrow Inc. (U.S.) and Propeller Health (U.S.).
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