The global digital therapeutics market is projected to reach USD 6.9 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 26.7%
NEW YORK, April 2, 2020 /PRNewswire/ -- Growing incidence of preventable chronic diseases and the need to control healthcare costs are the key factors driving the growth of the digital therapeutics market.
Read the full report: https://www.reportlinker.com/p04027699/?utm_source=PRN
The global digital therapeutics 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. Growth in this market is mainly driven by the growing incidence of preventable chronic diseases, the need to control healthcare costs, and rising investments in digital therapeutics. 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 segment accounted for the largest share of the digital therapeutics market in 2019
Based on application, the digital therapeutics market is segmented into preventive and treatment/care-related applications. Rising healthcare costs, the growing prevalence of chronic diseases, and the ability of digital therapeutics to provide cost-effective solutions are some factors responsible for driving the market for treatment/care-related digital therapeutics applications.
Diabetes segment is expected to dominate the market
Based on the type of treatment/care-related application, the digital therapeutics market is further segmented into diabetes, CNS disorders, chronic respiratory diseases, musculoskeletal disorders, cardiovascular diseases, smoking cessation, medication adherence, gastrointestinal disorders, substance use disorders & addiction management, rehabilitation & patient care, and other treatment/care-related applications.The diabetes segment accounted for the largest share of the digital therapeutics market.
The large share of this segment is attributed to the growing prevalence of diabetes across the globe. In addition, government initiatives to reduce the burden of diabetes using digital health are responsible for the large share of this segment.
B2B segment is expected to grow at the highest CAGR during the forecast period.
Based on the sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B).The B2B segment is the largest and fastest-growing segment of the digital therapeutics market.
The high preference of pharmaceutical companies to integrate digital therapeutics with their drug products to offer adherence services is a key factor driving the growth of this segment. Furthermore, rising awareness among payers, employers, and providers about the benefits of digital therapeutics has also supported the market growth.
North America to be the largest and the fastest-growing regional market
North America, which comprises the US and Canada, forms the largest market for digital therapeutics.The US is home to a plethora of digital therapeutics start-ups.
In addition, government initiatives to support technological advancements, improvements in the reimbursement structure for digital therapeutics, and the increasing investments in digital therapeutics are responsible for the high growth of digital therapeutics in North America.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 (50%), Tier 2 (30%), and Tier 3 (20%)
• By Designation: C-level (75%), D-level (15%), and Others (10%)
• By Region: North America (70%), Europe (20%), APAC (7%), and the RoW (3%)
List of Companies Profiled in the Report
• 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)
• Ginger (US)
Research Coverage:
This report provides a study of the digital therapeutics market.It aims at estimating the size and future growth potential of the market across different segments, such as sales channel, application, and region.
The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of revenue numbers for the overall digital therapeutics market and its subsegments.This report will also help stakeholders understand the competitive landscape, gain insights to position their business, and make suitable go-to-market strategies.
It will also enable stakeholders to gauge the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p04027699/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article