Global Digital Therapeutics Market Overview:
Digital therapeutics refers to software products which are used in treatment of medical condition. These products are similar to consumer wellness applications as it allows users to take control over their own health. This treatment method is based on behavioral therapy treatment. It can be used to cure number of diseases which include dementia, type-II diabetes, obesity, anxiety and depression. Growing prevalence of chronic diseases are expected to supplement the demand for digital therapeutics.
As per latest study released by AMA Research, the Global Digital Therapeutics market is expected to see growth rate of 21.7%Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Adoption of IoT and AI in Healthcare Industries and Growing Prevalence of mHealth
Market Growth Drivers:
Growing Focus on Reducing Cost in Healthcare and Rising Number of Chronic Diseases
Challenges:
Working in Traditional Healthcare Providers for Digital-therapeutics Companies
Restraints:
Growing Number of Cyber Threat and Data Privacy Concerns and Lack of Awareness in Emerging Countries
Opportunities:
Growing Number of Startups Fueled by Rising Investment and Rising Cognitive Behavioral Therapy Treatment
Competitive Landscape:
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.
Some of the key players profiled in the report are Proteus Digital Health. Inc (United States), Omada Health, Inc (United States), Welldoc, Inc (United States), Livongo Health (United States) and Mango Health Inc (United States). Additionally, following companies can also be profiled that are part of our coverage like 2 Morrow (United States), Propeller Health (United States), Twine Health (Fitbit) (United States) and Canary Health (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Digital Therapeutics market by 2028. Considering Market by Disease, the sub-segment i.e. Diabetes will boost the Digital Therapeutics market. Considering Market by Sales Channel, the sub-segment i.e. Business-to-business (B2B) will boost the Digital Therapeutics market. Considering Market by Component, the sub-segment i.e. Software will boost the Digital Therapeutics market.
Latest Market Insights:
In November 2023, Propeller Health has launched its new platform, Propeller Connect, which provides real-time inhaler use data and personalized feedback to help people with asthma manage their condition.
In November 2023, Pear Therapeutics, a leading developer of prescription digital therapeutics (PDTs), has partnered with Boehringer Ingelheim, a global pharmaceutical company, to develop and commercialize PDTs for respiratory diseases.
What Can be Explored with the Digital Therapeutics Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Digital Therapeutics Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Digital Therapeutics
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Digital Therapeutics market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Digital Therapeutics market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Digital Therapeutics Service Providers, System Integrators, Potential Investors, Research Institutes, Market and Research Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.