Global Digital Therapeutics Market Report 2020-2025 - Increase in Adoption of Smartphones and Tablets Coupled with Healthcare Apps

DUBLIN, Sept. 2, 2020 /PRNewswire/ -- The "Global Digital Therapeutics Market by Application, Product and Sales Channel, Geography and the Impact of COVID-19 (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

The Global Digital Therapeutics Market is expected to grow from USD 1.9 billion in 2019 to USD 5.67 billion in 2025 at a CAGR of 20%. The market is segmented based on application, product, sales channel and geography.

Growth of the market is attributed to an increase in the adoption of smartphones and tablets, a rising focus on preventive healthcare, a need to control healthcare costs and an increasing incidence of preventable chronic diseases. The market is affected due to lack of awareness and access to the digital therapeutics in developing countries, data privacy concerns, and resistance from traditional healthcare service providers. Unexplored therapeutics applications and emerging markets offer huge growth opportunities for market players.

Market Dynamics

Drivers

• Increase in Adoption of Smartphones and Tablets Coupled with Healthcare Apps
• Rising Focus on Preventive Healthcare
• Need to Control Healthcare Cost
• The rise in the Incidence of Preventable Chronic Diseases

Restraints

• Lack of Awareness and Access to the Digital Therapeutics in Developing Countries
• Patient Data Privacy Concerns
• Resistance from Traditional Healthcare Service Providers

Opportunities

• Unexplored Therapeutics Applications
• Emerging Markets

Segment Highlights

• B2B segment has the largest market share and is expected to grow at the highest CAGR. Increasing adoption by providers, buyers, and employers due to the benefits of digital therapeutics has led to the dominance by B2B segment.
• North America accounts for the largest market share in the globe owing to increasing investment in digital therapeutics, an increase in the number of startups, and government support. Furthermore, countries like Brazil and India have huge growth opportunities.

IGR Competitive Quadrant

The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, and growth in market share.

Lions: Represents companies with a strong foothold in the market, with the highest market share, large investments in technologies, new products.
Bulls: Companies that are medium in size competing with their USPs, growing companies with proven market share.
Rabbits: Small companies but growing rapidly, constantly improving their offerings in the market.
Tortoise: Companies which are slow in growth, having a long legacy and stable or negative in performance.

Why Read this report?

• The report offers a comprehensive evaluation of the Global Digital Therapeutics Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of COVID-19 on the market is also featured in the report.
• The report also contains a competitive analysis using IGR Positioning Quadrants and a proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market

Companies Mentioned

• 2morrow, Inc.
• FitBit, Inc. (Twine Health, Inc.)
• Livongo Health, Inc.
• Medtronic PLC
• Omada Health, Inc.
• Pear Therapeutics, Inc.
• Proteus Digital Health, Inc.
• Resmed, Inc. (Propeller Health)
• Voluntis, Inc.
• Welldoc, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/wqyncy

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