Digital Therapeutics Market Overview
Digital therapeutics is an emerging healthcare discipline that through the use of digital and internet-based solutions treat a medical condition. These therapeutics present the opportunity to increase or replace prescription drug as a sole therapy, using tech-based solutions. Digital therapeutics are either in a standalone fashion or in combination with more conventional medical therapy built on the concept of using software to improve a patient’s health conditions simultaneously using a drug therapy, at a much-reduced cost and no physical side effects. The Digital Therapeutics Market is still at a nascent stage and has ample growth prospects if it gets proper backing from various countries and their healthcare expenditure.
Effective functionality of digital therapeutics has been linked to medical conditions such as diabetes, obesity, and hypertension among others. With the several options available for treatment, ranging from behavioral intervention to prescription medication the digital therapeutics market appears to be a well-established space. Additionally, digital therapeutics provide good outcomes, easing the conditions to an extent. Resultantly, the global digital therapeutics market is growing pervasively.
Considering the traction, the market is vibrating with; Market Research Future (MRFR) in its recently published study report asserts that the global digital therapeutics market gaining further prominence will register a spectacular growth by 2023, with a striking CAGR throughout the forecast period (2018 – 2023). The burgeoning healthcare sector along with the proliferation of advanced HC facilities substantiates the market growth.
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Digital Therapeutics Market Segmentation
The digital therapeutics market is segmented based on product type, application, sales channel, and region.
In terms of product type, the global digital therapeutics market is categorized into software and devices.
Based on the application, the market is segmented into cardiovascular diseases, diabetes, obesity, smoking cessation, respiratory diseases, and other.
Based on the sales channel, the market is segmented into B2B and B2C.
Digital Therapeutics Market Regional Analysis
Based on the region, the market is segmented into Europe, the Americas, Asia Pacific, and the Rest of the World (RoW). Of these, the Americas are estimated hold strong position in the digital therapeutics market owing to The North American district added to the biggest market offer attributable to innovatively propelled therapeutic foundation and effective execution of mobile wellbeing in their social insurance framework.
However, Asia Pacific is estimated to be fastest growth in the coming years for the digital therapeutics market. Developing nations like India, China and Brazil are additionally expected to prosper during the estimate time frame inferable from reception of improved human services foundation and therapeutic advancements to control the anticipation of incessant sicknesses.
Key Players
Notable players profiled in the digital therapeutics market report include Livongo Health, Omada Health, Inc., WellDoc Inc., Noom Inc, Medtronic Plc., Canary Health Inc., Propeller Health, Mango Health, Inc., Proteus Digital Health, Inc., and Twine Health Inc.
Industry News
November 2019: Astellas Pharma Inc. and Welldoc, Inc. have entered into a license agreement and collaboration for the development as well as commercialization of digital therapeutics.
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