CHICAGO, March 20, 2020 /PRNewswire/ -- According to the new market research report "Digital Therapeutic (DTx) Market by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel (B2C, Patient, Caregiver, B2B, Providers, Payer, Employer, Pharma) - Global forecasts to 2025", published by MarketsandMarkets™, the Digital Therapeutic Market is projected to reach USD 6.9 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 26.7% during the forecast period.
Market growth is largely driven by the growing incidence of preventable chronic health conditions, rising investments in digital therapeutics, rising focus on preventive healthcare, and the need to control healthcare costs. On the other hand, a lack of awareness and access to digital therapeutics programs in developing countries, resistance from traditional healthcare providers, and unstable payment models are challenging the growth of this market.
Treatment/care-related applications form the largest segment of the market, by application.
On the basis of application, the digital therapeutics market is segmented into preventive and treatment/care-related applications. The treatment/care-related applications segment held the largest share of this market in 2019. The large share of this segment is attributed to the growing incidences of chronic diseases, the rising economic burden of treating these conditions, and increasing investment in digital therapeutics to encourage the development of cost-effective and scalable treatment platforms for these conditions.
The B2B segment is the largest and fastest-growing segment of the market during the forecast period.
Based on sales channel, the digital therapeutics market is segmented into business-to-consumer (B2C) and business-to-business (B2B) channels. This is attributed to growing awareness among providers, payers, and employers about the benefits of digital therapeutics and the inclination of pharmaceutical companies to integrate digital therapeutics with their drug products.
North America commanded the largest share of the digital therapeutics market in 2019.
In 2019, North America was the largest and the fastest-growing regional market for digital therapeutics, followed by Europe. The presence of technologically advanced countries, such as the US and Canada, along with an influx of new startups in the digital therapeutic space, are key factors that will drive market growth. Growing awareness and understanding regarding digital therapeutics, coupled with government initiatives to support technological advancements, will contribute.
Prominent players in the digital therapeutics market include Noom (US), Livongo Health (US), Omada Health (US), WellDoc (US), Pear Therapeutics (US), Proteus Digital Health (US), Propeller Health (US), Akili Interactive Labs (US), Better Therapeutics (US), Happify (US), Kaia Health (Germany), Mango Health (US), Click Therapeutics (US), Canary Health (US), Wellthy Therapeutics (India), Cognoa (US), Ayogo Health (Canada), Mindstrong Health (US), 2Morrow (US), and Ginger (US).
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