Digital Therapeutic Devices Market by Application (Preventive [Obesity, Smoking Cessation, and Pre-Diabetes] and Treatment [Diabetes, CNS Diseases, Cardiovascular Diseases, Respiratory Diseases, and Medication Adherence]) and Sales Channel (B2B [Employers, Wellness Centers, Fitness Centers, and Gyms] and B2C [Patients and Caregivers]) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024

Global digital therapeutic devices market expected to reach around USD 8,472 million by the end of 2024, growing at a CAGR of around 24.0% between 2018 and 2024. Digital therapeutic is health care intervention delivered through smart devices to support the behavior of an individual and also provide therapeutic effects accordingly.

27-Jun-2018 | Number of pages: 110 | Report Code: ZMR-3016 | Report Format : | Status : Published

Analysis

Digital therapeutics is a sub-section of digital health. It is a health treatment option which uses online and digital health technologies to treat medical and psychological conditions of an individual. The treatment given in digital therapeutics depends on the behavior and lifestyle changes of the individual. In this technology, data is collected and then analyzed as a progress report or a preventative measure for treatment.

The global digital therapeutic devices market is primarily driven by the rise in the use of technology such as smartphones and laptops for the treatment of different medical conditions. The rapid increase in disposable income in various developing countries increases the demand for the technologically advanced products for the treatment of medical conditions, which is driving the growth of the global digital therapeutic devices market. Increase in support of government for the use of digital therapeutic devices and rapid increase in awareness regarding the cost saving associated with digital therapeutic devices market is expected to fuel the growth of the digital therapeutic devices market. According to the statistics published by CDC in 2012, about 50% of adults in the U.S. were suffering from chronic health conditions. Digital therapeutic devices allow the healthcare professionals to treat chronic diseases and efficiently manage them. This is also expected to drive the growth of the digital therapeutic devices market. However, safety about the patient’s information, the rise in data breaching, and lack of awareness related to therapeutic devices are factors expected to limit the growth of the digital therapeutic devices market.

Digital therapeutic devices market is segmented on the basis of application and sales channel. Based on the application, digital therapeutic devices market is further segmented into preventive and treatment. The preventive application segment is further divided into obesity, smoking cessation, and pre-diabetes. Furthermore, the treatment segment is sub-segmented into diabetes, central nervous system diseases, musculoskeletal diseases, cardiovascular diseases, respiratory disease, and medication adherence. Based on sales channel, the digital therapeutic devices market is segmented into business-to-business and business-to-consumer. Business-to-business is further sub-segmented into employers, wellness centers, fitness centers, and gyms. The business-to-consumer segment consists of patients and caregivers.

Global Digital Therapeutic Devices Market

North America is expected to lead the market in the forecast period due to the early adoption of technology, increase in investment in healthcare technologies and awareness about patient’s wellness. The increase in chronic diseases and disorders related to the changing lifestyle and rapid technological advancements is expected to drive the growth of digital therapeutic devices market in the Asia Pacific. This region is expected to grow at a higher CAGR as compared to other regions.

The key players in the global digital therapeutic devices market are Propeller Health, Claritas MindSciences, WellDoc Inc., BioTelemetry Inc., Zest Health LLC, Dthera Sciences, Pear Therapeutic Inc., Meru Health Inc., Glooko Inc., Firstbeat Technologies Ltd., Digital Therapeutic, and Digital Twine Health Inc. The players are involved in merger and acquisitions to innovate new therapeutic devices which use new technologies for treatment.


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