U.S. Digital Therapeutics Market Market Rising Up Gradually with the Adoption of New TechnologiesPosted by Sanyukta K on July 14th, 2022 Digital Therapeutics (DTX) is a subset of digital health and not all digital health measures are digital therapeutics. The difference between digital health and digital therapy is based on the clinical outcomes of patients. For example, digital therapies do not include consumer health-focused technologies such as step-counter and calorie-counter. Explore More Insights@ https://www.alliedmarketresearch.com/request-sample/7066 According to a new report published by Allied Market Research, titled, the U.S. digital therapeutics market size was valued at .16 billion in 2019, and is expected to reach .08 billion by 2027 with a CAGR of 19.2% during the forecast period. It is a new class of healthcare products that use digital technology to prevent, manage or treat medical conditions. Additionally, it uses digital health technology to treat mental conditions. Hence, the aforementioned factors drive the growth of the US digital therapeutics market. Key Market Players
The US digital therapeutics market is expected to be positively impacted by the Covid-19 pandemic, increasing awareness of the importance of digital health, rising rates of mental illness, and increasing drug abuse in the country. Moreover, during this pandemic, people have to stay at home, which leads to less physical activity, unhealthy lifestyles, mental stress and the spread of chronic diseases. Hence, the demand for digital therapeutics (DTX) equipment and software is increasing across the country. Key Advantages:
The adoption of advanced technology and the growth of technology-driven healthcare products and applications further drives the market. However, the lack of reimbursement strategies for digital therapeutics and the issue of privacy of patient data hinder the growth of the market. Demand for this specialty has grown significantly as a result of the growing demand for smartphones, tablets and smart wearables, including healthcare apps, the need to control healthcare costs and the prevalence of chronic diseases. Conversely, laws and regulations favourable to digital health technologies and increased investment in digital therapeutics are expected to provide significant lucrative opportunities for manufacturers in the US digital therapeutics market. Like it? Share it!More by this author |