Worldwide Digital Therapeutics Industry to 2027 - Growing Need to Manage Healthcare Costs is Driving the Demand
DUBLIN, June 28, 2021 /PRNewswire/ -- The "Global Digital Therapeutics Market By End Use (Patients, Providers, Payers, Employers and Others), By Applications (Diabetes, CNS Disease, Respiratory Diseases, Smoking Cessation, Obesity, CVD and others), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Therapeutics Market size is expected to reach $14.5 billion by 2027, rising at a market growth of 21.8% CAGR during the forecast period. Digital therapeutics is a group of applications, which assist in curing diseases by altering patient's behaviour and offering remote supervision to enhance long-term health results. There is a broad range of products include in digital therapeutics like wearable devices, mobile applications, and sensors. However, it is different from digital health based on the clinical results for patients.
Consumer health-oriented technologies like calorie-counter and step counter do not fall under the ambit of digital therapeutics. Digital therapeutics is a new category of healthcare solutions that utilizes digital technology to protect, manage and cure different medical conditions. Additionally, it also uses digital health technologies to cure a patient with some medical problems, which is why it is becoming a popular concept in today's digital world.
There is an increasing demand for digital therapeutics across the globe, due to the rising adoption of smartphones & tablets along with healthcare apps, increasing cases of chronic diseases, and the growing need to manage healthcare costs. Moreover, high growth opportunities in the undiscovered markets are anticipated to offer new growth avenues for the manufacturers operating in the digital therapeutics market. Though, the absence of awareness related to digital therapeutics in emerging nations and the increasing concern about patient data is hampering the growth of the market.
End Use Outlook
Based on End Use, the market is segmented into Patients, Providers, Payers, Employers and Others. The providers market segment is estimated to record a significant growth due to the determinants like increasing number of companies are using digital therapeutics to provide clinically proven therapies without a healthcare setup, and also offer reliable patient engagement. This segment has huge potential for growth and players are also gaining more interest in covering digital therapeutics.
Application Outlook
Based on Applications, the market is segmented into Diabetes, CNS Disease, Respiratory Diseases, Smoking Cessation, Obesity, CVD and others. On the basis of application, the diabetes market segment procured the highest share in the total revenue of the market in 2020. This segment is estimated to witness the highest growth over the forecast period. The increasing cases of diabetes among the people across the globe are contributing to the growth of the segment.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. By region, North America emerged as a leading region in the digital therapeutics market with the highest market share in 2020. It is due to the factors like the prevalence of key market players, full developed healthcare infrastructure, increasing government initiatives, and growing prevalence of chronic diseases.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; ResMed, Inc. is the major forerunner in the Digital Therapeutics Market. Companies such as Pear Therapeutics, Inc., Omada Health, Inc., and Noom, Inc., Mindstrong, Inc., Welldoc, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ResMed, Inc. (Propeller Health), Teladoc Health, Inc. (Livongo Health), Noom, Inc., Omada Health, Inc., Welldoc, Inc., Canary Health, Mango Health, Inc. (TrialCard, Incorporated), 2Morrow, Inc., Pear Therapeutics, Inc., and Mindstrong, Inc.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Restraints:
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Business Expansions
3.2.4 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, Mar - 2021, Mar) Leading Players
Chapter 4. Global Digital Therapeutics Market by End Use
4.1 Global Patients Market by Region
4.2 Global Providers Market by Region
4.3 Global Payers Market by Region
4.4 Global Employers Market by Region
4.5 Global Other End Use Market by Region
Chapter 5. Global Digital Therapeutics Market by Applications
5.1 Global Diabetes Applications Market by Region
5.2 Global CNS Disease Applications Market by Region
5.3 Global Respiratory Diseases Applications Market by Region
5.4 Global Smoking Cessation Applications Market by Region
5.5 Global Obesity Applications Market by Region
5.6 Global CVD Applications Market by Region
5.7 Global Other Applications Market by Region
Chapter 6. Global Digital Therapeutics Market by Region
6.1 North America Digital Therapeutics Market
6.2 Europe Digital Therapeutics Market
6.3 Asia Pacific Digital Therapeutics Market
6.4 LAMEA Digital Therapeutics Market
Chapter 7. Company Profiles
7.1 ResMed, Inc. (Propeller Health)
7.1.1 Company Overview
7.1.1 Financial Analysis
7.1.2 Segmental and Regional Analysis
7.1.3 Research & Development Expense
7.1.4 Recent strategies and developments:
7.1.4.1 Approvals and Trials:
7.1.4.2 Partnerships, Collaborations, and Agreements:
7.2 Teladoc Health, Inc. (Livongo Health)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Recent strategies and developments:
7.2.3.1 Partnerships, Collaborations, and Agreements:
7.2.3.2 Acquisition and Mergers:
7.3 Noom, Inc.
7.3.1 Company Overview
7.3.2 Recent strategies and developments:
7.3.2.1 Partnerships, Collaborations, and Agreements:
7.4 Omada Health, Inc.
7.4.1 Company Overview
7.4.2 Recent strategies and developments:
7.4.2.1 Partnerships, Collaborations, and Agreements:
7.4.2.2 Acquisition and Mergers:
7.4.2.3 Product Launches and Product Expansions:
7.5 Welldoc, Inc.
7.5.1 Company Overview
7.5.2 Recent strategies and developments:
7.5.2.1 Partnerships, Collaborations, and Agreements:
7.6 Canary Health
7.6.1 Company Overview
7.6.2 Recent strategies and developments:
7.6.2.1 Partnerships, Collaborations, and Agreements:
7.6.2.2 Business Expansions:
7.7 Mango Health, Inc. (TrialCard, Incorporated)
7.7.1 Company Overview
7.7.2 Recent strategies and developments:
7.7.2.1 Partnerships, Collaborations, and Agreements:
7.8 2Morrow, Inc.
7.8.1 Company Overview
7.9 Pear Therapeutics, Inc.
7.9.1 Company Overview
7.9.2 Recent strategies and developments:
7.9.2.1 Partnerships, Collaborations, and Agreements:
7.9.2.2 Acquisition and Mergers:
7.9.2.3 Product Launches and Product Expansions:
7.10. Mindstrong, Inc.
7.10.1 Company Overview
7.10.2 Recent strategies and developments:
7.10.2.1 Partnerships, Collaborations, and Agreements:
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