Digital Therapeutics Market Expansion Projected to Gain an Uptick During 2018-20
Posted by Trends Market Research on May 9th, 2019
Digital Therapeutics is the utilization of digital and online health technologies to treat various psychological and medical conditions. It provides the solutions that track health data by modifying patient behavior and provide improvement in long-term health problems through remote monitoring. It can also provide alternative treatments to drugs such as sensory stimuli to manage insomnia or depression through a tablet or any other online medium. For instance, alcohol, marijuana, and cocaine addiction can be checked through application, approved by US Food and Drug Administration (FDA) leading to reduced cost treatment therapy.
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Furthermore, emerging regulatory framework for digital therapeutics is anticipated to be another important factor driving the growth of the market.Lack of awareness regarding digital therapeutics is the major limitation hindering the market growth in developing countries. Furthermore, the incentives for pharmaceutical companies and other providers to adopt digital therapeutics are not well aligned in several developed countries. In spite of this, the digital therapeutics is expected to be significantly recommended along with medication by the end of the forecast period, at least in the developed countries.Digital therapeutics market digital therapeutics market can be bifurcated into sales channel, application, and region. Based on sales channel, the market can be segmented into business-to-business (B2B) and business-to-consumer (B2C).
Based on application, the digital therapeutics market can be segmented into cardiovascular diseases, diabetes, gastrointestinal disorders,central nervous system diseases, respiratory diseases, and others. In terms of region, the digital therapeutics market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Amongst all, North America is anticipated to be the most lucrative market owing to rising incidences of chronic diseases as well initiatives of government to aid the development of digital therapeutics.
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