Digital Therapeutics Market With Strategic Trends, Growth, Revenue, and Forecast

Posted by Shristi on September 24th, 2019

Analyst Speak:

“The Digital Therapeutics Market is burgeoning at prominent growth rate over seven years of forecast period 2019-2025 and expected to reach US$ 6,932.2 Mn by 2025, due to rise in R&D for the development and launch of newer products into market”

Precision Business Insights (PBI) in its report titled “Digital Therapeutics Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

The digital therapeutics market anticipated to account for US$ 6,932.2 Mn by 2025. The major factors dominating the revenue growth of market include increase in the prevalence of chronic diseases such as diabetes, neurological disorders, respiratory disorders, and others. For instance, according to World Health Organization 2014, approximately 422 Mn people affected with diabetes around the globe. Moreover, rise in R&D for the development of innovative digital therapeutic, raise in funding from public and private sectors for R&D activities, adoption of technologically advanced treatment procedures, and increase in disposable income are anticipated to propel the digital therapeutics market over the forecast years. However, high cost for the digital therapeutics, stringent government regulations for the product approval, and lack of awareness about the digital therapeutics in underdeveloped countries are anticipated to restrain the digital therapeutics market over the future years.

Digital Therapeutics market segmented on the basis of product type, application, end user, and region.

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Obesity Dominate the Global Digital Therapeutics Market

Based on application, the digital therapeutics market is segmented into obesity, diabetes, cardiovascular diseases, neurological disorders, gastrointestinal disorders, respiratory disorders, and others. Among all applications, obesity segment dominated the global digital therapeutics market in 2018 and expected to grow at 7.5% CAGR over the forecast period owing to rise in prevalence of obesity in various countries around the world. For instance, according to WHO 2016 data, approximately 1.6 Mn deaths occurred due to diabetes around the globe. Moreover, market players are focus on the development innovative digital therapeutics also boost the market over the forecast timeframe. In addition, neurological disorders segment contributes a significant share in global digital therapeutics market owing to increase in the incidence of Alzheimer’s disease, Parkinsonism, Epilepsy, and other neurological disorders

North America Accounts for Major Revenue Share for Digital Therapeutics Market

Precision Business Insights (PBI), digital therapeutics market report analyses the market in different regions North America, Europe, Asia Pacific, and rest of World. According to regional analysis, North America accounted for major revenue share and the market is growing at 6.8% CAGR over the forecast period owing to increase in the prevalence of chronic disorders, rise in awareness about the early stage disease diagnosis, sophisticated healthcare infrastructure. In addition, Asia Pacific digital therapeutics market creates lucrative opportunities over the forecast years owing to launch of newer products, surge in the geriatric population prone for chronic diseases, and surge in medical tourism in the region.

Strategic Alliances and Launch of Newer Products in Digital Therapeutics Market

• In September 2019, OptimizeRx acquired RMDY Health, a multipurpose digital therapeutics SaaS platform to enhance its revenue in digital therapeutics market

Key player’s profiles in the report 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.), Propeller Health (U.S.), Mango Health, Inc. (U.S.), Canary Health Inc. (U.S.), Bupa (U.K), and OptimizeRx

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Detailed Segmentation

By Product Type

• Devices
• Software

By Packaging Type

• Obesity, Diabetes
• Cardiovascular Diseases
• Neurological Disorders
• Gastrointestinal Disorders
• Respiratory Disorders
• Others

By End User

• Hospitals and Clinics
• Academic and Research Institutes
• Homecare
• Ambulatory Surgical Centers
• Others

Geography

North America

• US
• Canada

Europe

• Germany
• France
• UK
• Italy
• Spain
• Russia
• Poland
• Rest of Europe

Asia-Pacific

• Japan
• China
• India
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC Countries
• Israel
• South Africa
• Rest of MEA

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