Vantage Market Research analyses that the Digital Therapeutics Market which was USD 3.16 Billion in 2021, would rocket up to USD 14.52 Billion by 2028, and is expected to undergo a CAGR of 28.1% during the forecast period 2022 to 2028.
Vantage Market Research analyses that the Digital Therapeutics Market which was USD 3.16 Billion in 2021, would rocket up to USD 14.52 Billion by 2028, and is expected to undergo a CAGR of 28.1% during the forecast period 2022 to 2028.
In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Vantage team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Recent study report released by Vantage titled Digital Therapeutics Market (covering USA, Europe, China, Japan, India, South East Asia and etc) highlights opportunities, risk analysis, and leveraged with strategic and tactical decision-making support. When every business is competing to be the best, a market research analysis report is one of the key factors that will help them climb the ladder of success. The Digital Therapeutics market report gives details about market trends, future prospects, market restraints, leading market drivers, several market segments, key developments, key players in the market, and competitor strategies. Market research analysis is one of the best ways that answers business challenges more quickly and also saves a lot of time. The research work, market insights and analysis are carried out thoroughly in this report that brings the marketplace clearly into the centre of attention.
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What is Digital Therapeutics? How Big is Digital Therapeutics Market Size?
Market Dynamics:
Increasing Chronic Diseases to Fuel Global Digital Therapeutics Market
Chronic diseases have raised the burden on healthcare systems across the world. As per a report of heart diseases and Stroke Statistics, cardiovascular disease is the greatest cause of death globally. CVD accounts for 17.3 million casualties per year, and this figure is anticipated to cross 23.6 million by 2030. The increased prevalence and incidence rate of chronic diseases is a primary concern for healthcare systems. The treatment of patients with chronic illnesses is a notable challenge, as psychosomatic or biopsychic factors very often affect these patients. As chronic diseases are mainly related to high levels of uncertainty, patients need to change their behaviour as part of a new self-care lifestyle. Furthermore, multiple chronic disorders and diseases are progressive and increase with age. As a result, with substantial growth in the global geriatric population, chronic disorders are predicted to rise further.
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List of Prominent Players in the Digital Therapeutics Market:
- Omada Health Inc. (US)
- Well Doc Inc. (US)
- 2Morrow Inc (US)
- Livongo Health (US)
- Propeller Health (US)
- Pear Therapeutics (US)
- Canary Health Inc. (US)
- Noom Health Inc. (US)
- Mango Health Inc. (US)
- Akili Interactive Labs (South Africa)
- Better Therapeutics (US)
- Happify Health (US)
- Kaia Health (US)
- Medtronic Plc. (Ireland)
- Teladoc Health Inc (US)
- Fitbit Health Solutions (US)
Increasing Advance Technological Application to Stimulate the Market Growth
The patient-doctor ratio in these provinces is also extremely high, necessitating alternative healthcare solutions. These nations have also reported widespread adoption of smartphones and related technologies due to their growing affordability. Globally, the developing nations are the top two countries in terms of smartphone ownership. Furthermore, the increasing access to smart devices and the internet has enabled the development of health apps. In addition, government bodies in these regions are accepting initiatives to improve HCIT infrastructure.
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Segments Covered:
By Application: Diabetes, Obesity, CVD, CNS Disease, Respiratory Diseases, Smoking Cessation, Others
By End-Use: Patients, Providers, Payers, Employers, Others
By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
The report on Digital Therapeutics Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Global Digital Therapeutics Market
North America has dominated the global Digital Therapeutics market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the growing adoption of these technologies and rising investment in R&D activities across the region. Furthermore, the funding is associated with a rising investment from the government, venture capitalists, mergers, and acquisitions thus is expected to support the regional growth of the market.
Asia Pacific is likely to witness fastest growth in the Digital Therapeutics market during the forecast period. This is attributable to the improving healthcare infrastructure in economies like India, and China in the region. Additionally, an expansion in the geriatric population, a rise in incidences of chronic diseases, the surge in the market for wireless and portable systems, and the availability of a sophisticated reimbursement structure that aims to decrease expenditure expected to support the growth of the Digital Therapeutics market in near future.
Browse market data Tables and Figures spread through 180 Pages and in-depth TOC on Digital Therapeutics market Forecast Report (2022-2028).
Recent Developments:
February 2021: Philips declared the acquisition of BioTelemetry, Inc., a leading US-based provider of remote cardiac diagnostics and monitoring.
Some of The Key Questions from Our Customers Are:
- Which are the top companies in the market?
- How will the market change in the next years?
- What are the drivers and restraints of the market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the market throughout the forecast period?
- Which area offers the most significant benefit for the world market?
- What are the threats to business and the impact of the current scenario on growth and market perception?
- What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 3.16 Billion |
| Revenue Forecast by 2028 | USD 14.52 Billion |
| CAGR | 28.1% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Omada Health Inc., WellDoc Inc., 2Morrow Inc, Livongo Health, Propeller Health, Pear Therapeutics, Canary Health Inc., Noom Health Inc., Mango Health Inc., Akili Interactive Labs, Better Therapeutics, Happify Health, Kaia Health, Medtronic Plc., Teladoc Health Inc, Fitbit Health Solutions |
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