About Digital Therapeutics and Wellness
Digital therapeutics uses digital health technologies to treat medical or psychological condition. These treatment depends on the lifestyle as well as behavioral changes. Digital therapeutics has various benefits such as lower costs, monitoring, guidance and social support. Moreover, these are used independently or with medications, therapy and devices which optimises the health outcomes. It also empowers the patients and other health care providers by accessing tools to treat wide range of conditions.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key manufacturers are targeting the innovations of the services with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions in order to maintain their presence in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Digital Therapeutics and Wellness market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Proteus Digital Health (United States), Omada Health (United States), Welldoc (United States), Livongo Health (United States), Noom (United States), Ginger (United States), Reciprocal Labs Corporation (United States), 2morrow Inc. (United States), Canary Health (United States) and Mango Health (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are My mHealth (United Kingdom), Glytec (United States), Proteus (United States) and Vida Health (United States).
Segmentation Overview
AMA Research has segmented the market of Global Digital Therapeutics and Wellness market by Type (Device and Software), Application (Cardiovascular Disease & Hypertension, Diabetes & Prediabetes, Obesity & Weight Loss, Smoking Cessation and Others) and Region.
On the basis of geography, the market of Digital Therapeutics and Wellness has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Individual will boost the Digital Therapeutics and Wellness market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operating systems , the sub-segment i.e. Android will boost the Digital Therapeutics and Wellness market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Usage of Health Apps and Technological Advancements in Health Apps
Market Growth Drivers:
Increasing Health Consciousness among Individuals and Growing Awareness among the Users about Digital Therapeutics and Wellness
Challenges:
Lack of Precision may hamper the Market Growth
Restraints:
High Costs Associated with Premium Features
Opportunities:
Rising Adoption of Smartphones with Advanced Connectivity and Increasing Number of Digital Therapeutics in the Market
Market Leaders and their expansionary development strategies
In November 2023, Akili Interactive has launched Akili Studio, a new cognitive training program for adults. Akili Studio is a personalized cognitive training program that uses a variety of cognitive exercises to help improve memory, attention, and processing speed.
In November 2023, Pear Therapeutics, a company specializing in prescription digital therapeutics (PDTs), has partnered with Otsuka Pharmaceutical, a leading global healthcare company, to co-develop and commercialize PDTs for various conditions, including insomnia and major depressive disorder. This partnership will combine Pear's expertise in PDT development with Otsuka's global reach and commercialization capabilities.
Key Target Audience
Software Providers, Device manufacturers, Government Regulatory Bodies, Government Research Organisations, Private Research Organisations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.