Global Digital Therapeutics Market By Product (Pain Management Devices, Rehabilitation Devices, Respiratory Therapy Devices, Insulin Pumps), Application (Preventive, Treatment/Care), End-User (B2C, B2B), Geography (Europe, North America, Asia-Pacific, South America and Middle East & Africa) – Industry Trends & Forecast to 2026
Market Analysis: Global Digital Therapeutics Systems Market
Global Digital Therapeutics Systems Market is expected to rise from its initial estimated value of USD 198.03 million in 2018 to an estimated value of USD 1,365.70 million by 2026 registering a CAGR of 27.3% in the forecast period of 2019-2026. This rise in the market can be attributed to the rising geriatric population over the world and pro-active government policies to support the improvement and application of digital therapeutics solutions.
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Market Definition: Global Digital Therapeutics Systems Market
Digital therapeutic is a technology based health solution. This is also known as software-as-a-drug. This system utilizes digital and online health technologies for the treatment of various medical and psychological conditions. This is basically a type of app which helps patients and physicians to constant monitor the health data by modifying patient behavior and provides remote monitoring in order to improve the patients long-term health problems. This is basically a digital system used in the treatment of medical conditions. This is a cost effective solution and also have the potential to improve patient engagement and bring substantial change in patient health. This treatment solution is basically used to help and mange long term medical conditions which include asthma, insomnia, and diabetes.
- Growing Focus on Preventive Healthcare is driving the market
- Technological advancements in the industry will act as a major market driver
- lack of awareness among the population is restraining the growth
- Patient data confidentiality concerns is another restraint for the market
Segmentation: Global Digital Therapeutics Systems Market
- Pain Management Devices
- Rehabilitation Devices
- Respiratory Therapy Devices
- Insulin Pumps
- Pre Diabetes
- Smoking Cessation
- Cardiovascular Diseases
- Central Nervous System Disease
- Respiratory Diseases
- Musculoskeletal Diseases
- Medication Adherence
By Sales Channel
- Business-to-Consumer (B2C)
- Business-to-Business (B2B)
- Pharmaceutical Companies
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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Key Developments in the Market:
- In September, 2018, Fitbit has launched Fitbit Care. Fitbit care is a wearable device which provides self-tracking and personalized digital solution to help improve disease management, prevention and wellness. This launch helps in the expansion of the company’s digital therapeutics market
- In November, 2017, Propeller Health entered into a strategic partnership with and Express Scripts to provide Propeller’s FDA-cleared digital solution. This will help in strengthening the company position in the digital therapeutics market
Global digital therapeutics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of digital therapeutics market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in global digital therapeutics market are Proteus Digital Health, Omada Health, Inc., WellDoc, Inc., 2Morrow Inc., Livongo Health, Propeller Health, Fitbit Health Solutions, CANARY HEALTH, Noom, Inc., Medtronic, Biogen, MindSciences, JINTRONIX, Virta Health Corp, and Dthera Sciences.
Research Methodology: Global Digital Therapeutics Systems Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global digital therapeutics market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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