Digital Therapeutics Market Research Analysis Application (Cardiovascular Diseases, Obesity, Diabetes, Respiratory Diseases, Smoking Cessation and Others) By Product Type (Software, Devices And Others), and Sales Channel (B2B and B2C) and End Users - Forecast 2027

ID: VPR/HC/1172 Publishing Year: January 2022 Pages: 106 Format:   


Digital Therapeutics Market Overview:

Digital Therapeutics is a subset of digital health; however, not all digital health solutions are also Digital Therapeutics. The distinction between digital health and Digital Medicines is determined by patient clinical outcomes. Consumer health-oriented devices such as step-counters and calorie-counters, for example, are not included in Digital Therapies. It's a new type of healthcare product that employs digital technology to prevent, manage, or treat medical problems. Furthermore, it makes use of digital health technologies to treat a psychological ailment. As a result, the aforementioned factors contribute to the growth of the Worldwide Digital Therapeutics Market Share.

Key Players:

The report provides a comprehensive analysis of the key players operating in the Global Digital Therapeutics Market, namely 2MORROW, Inc., Akili Interactive Labs, Inc., Click Therapeutics, Inc., Fitbit, Inc. (Twine Health, Inc.), Happify, Inc., Kaia Health, Livongo Health, Inc., Medtronic Plc., Omada Health, Inc., Pear Therapeutics, Inc., Proteus Digital Health, Inc., Resmed, Inc. (Propeller Health), Voluntis, Inc., Welldoc, Inc. The other players in the value chain include (profiles not included in the report) Canary Health Inc., Mango Health Inc., Noom, Inc., and Dthera Sciences.

Market Drivers:

Chronic disease's high prevalence and incidence rate is a big worry for healthcare systems all over the world. Patients with chronic disorders present a substantial barrier in terms of treatment, as psychosomatic or biopsychic elements frequently impact these patients. Patients must adapt their behaviour as part of a new self-care lifestyle because chronic diseases are generally accompanied with significant levels of uncertainty. Furthermore, many chronic diseases and ailments progress with time, and their prevalence rises as people get older. As a result, chronic problems are projected to rise even more in the coming years as the worldwide senior population grows.

Restraints:

In many countries, numerous health applications lack the necessary certifications, raising issues about product and data quality, treatment decision dependability, patient privacy, security, and data use responsibly. Patients' information is accessible by Digital Therapies Providers, who are prohibited from sharing it with anybody who is not involved in the patient's treatment. However, with the use of digital technologies to integrate data, the patient's data is at risk of being accessible by any healthcare professional who isn't involved in the patient's treatment programme.

Some countries, such as the United States, have legislation addressing data security, such as the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health (HITECH) Act. However, despite such federal actions, consumers of digital therapies are vulnerable to infringement and data breaches, which may limit the market's growth.

Market Segmentation:

Diabetes, obesity, cardiovascular illness, central nervous system disease, respiratory disease, smoking cessation, gastrointestinal issue, and others are among the applications that the Digital Therapeutics Industry is divided into. Due to the increasing prevalence of diabetes, the diabetes category was the leading revenue generator in 2019, and this trend is expected to continue during the projected period. Furthermore, North America, the Middle East, and North Africa have the greatest comparative prevalence rates for diabetes, which drives up demand for Digital Treatments among diabetic patients in these countries. The obese segment, on the other hand, is expected to expand the most during the forecast period. This is due to an increase in the number of overweight people, which leads to an increase in the number of chronic diseases. Furthermore, improved access to Digital Therapeutics Software applications aids patients in maintaining a healthy diet as well as tracking health data and daily physical activities. Furthermore, the software application offers frequent online support from licenced doctors, which is intended to aid in the future reduction of obesity prevalence. In addition, a number of companies have released a range of Digital Therapeutics Products. In 2017, Oxil, for example, created an app to combat rising obesity rates among teenagers. Furthermore, Azumio offers a fitness buddy smartphone app with the largest activity database, which aids in the reduction of obesity. According to Noom Inc.'s research, 78 percent of consumers who used its mobile health coaching products lost weight.

Regional Analysis:

As said above, the prescription Digital Therapeutics (PDTx) Market is examined, and market size data is supplied by nation, mechanism, category, therapy, software, services, app accessibility, app type, application, and patients.

The countries covered in the prescription Digital Therapeutics (PDTx) Market report are the United States, Canada, and Mexico in North America, Peru, Brazil, Argentina, and the Rest of South America in South America, Germany, Italy, the United Kingdom, France, Spain, the Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, and the Rest of Europe in Europe, Japan, China, India, and the Rest of South Asia in South Asia, and Japan, China, India, and the (MEA).

Because of the increase in prescription digital therapeutics (PDTx) research and development in North America, the market for prescription digital therapeutics (PDTx) is dominated by the region (PDTx). Moreover, throughout the projected period, the influx of new start-ups will fuel the expansion of the prescription digital therapeutics (PDTx) market in the region. Because of developments in the payment framework for digital therapies, Europe is expected to see considerable growth in the prescription digital therapeutics (PDTx) market. Furthermore, the government's actions to encourage technological breakthroughs are expected to fuel the region's prescription digital therapeutics (PDTx) market expansion in the coming years.

Covid-19 Impact:

As health responses to the COVID-19 pandemic strengthen, a need for a significant transition to apps and hardware capable of lifestyle modification and medical intervention, with potentially life-saving functions, has evolved. The COVID-19 pandemic is predicted to have a favourable impact on the digital therapeutics market, owing to increased awareness of the value of digital health, an increase in the prevalence of mental illness, and an increase in the rate of drug usage internationally. Furthermore, people are forced to stay at home during the pandemic, resulting in less physical exercise, an unhealthy lifestyle, and mental stress, all of which contribute to an increase in the prevalence of chronic diseases. As a result, demand for DTx devices and software is increasing over the world.

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