Global Digital Therapeutic Devices Market: Overview
Digital therapeutics is considered as a platform that makes use of tools or devices to monitor the medical conditions and its treatment. With the help of this platform the patients, physicians, and the payers all remain interconnected thus serving in proper monitoring of the treatments and medications along with decreasing healthcare costs.
Global Digital Therapeutic Devices Market: Growth Factors
Increasing health awareness among the people and the improving digital landscape in the healthcare division are propelling the growth of the digital therapeutic devices market. By adopting the digital therapeutics, the users are able to embrace healthy lifestyle thus increasing its popularity in the global market. Another factor that influences the market growth is the increasing use of the internet and the smartphone. Digital therapeutics has an increased popularity owing to its cost-effective nature; it has the provision of offering consultations with the help of mobile phones and effectively managing the chronic diseases. The rise in the number of occurrence of chronic diseases affects the increased healthcare costs thus efficient management of these diseases has increased the importance of the digital therapeutic devices market.
As still, the digital therapeutic devices market is in the developing phase, lack of investments and low knowledge about the devices are limiting the growth of the market.
Global Digital Therapeutic Devices Market: Segmentation
The global digital therapeutic devices market can be segmented into its product, application, and end-user. On the basis of the product, the market is categorized into rehabilitation devices, insulin pumps, pain management devices, and respiratory therapy devices. Based on the application, the global digital therapeutic devices market is segregated into preventive and treatment/care. The preventive division is further sub-divided into obesity, pre-diabetes, and smoking cessation. The treatment/care division is sub-segmented into diabetes, central nervous system disease, musculoskeletal diseases, cardiovascular diseases, respiratory diseases, and medication adherence. Based on the end-user, the market is divided into B2B and B2C.
Global Digital Therapeutic Devices Market: Regional Analysis
It is anticipated that majority of the market shares is held by North America. Factors driving the digital therapeutic devices market in North America are growing healthcare spending and increased focus on the patient-care quality. In addition, North America is considered as a major hub for the digital therapy providers. In North America, the U.S. is considered as one of the major market share providers for the digital therapeutic devices.
The Asia Pacific will witness a rapid development in the digital therapeutic devices market. Factors propelling the market growth are the large population base which helps in offering a wide target base, increased urbanization, and the increasingly changing technological advancements. Furthermore, the increasing reforms in the healthcare sector and the growing investments propel the growth of the market.
Global Digital Therapeutic Devices Market: Competitive Players
Some of the most important market players in the digital therapeutic devices market include WellDoc Inc., Propeller Health, Claritas MindSciences, Zest Health LLC, BioTelemetry Inc., Firstbeat Technologies Ltd., Dthera Sciences, Pear Therapeutics Inc., Meru Health Inc., Glooko Inc., Digital Therapeutics, Ginger. Io Inc., 2Morrow Inc., Proteus Digital Health, Noom Inc., BiogeniQ Inc., Jintronix Inc., HealthMine Inc., Digital Twine health Inc., Big Health, Virta Health Corp., Blue Mesa, Canary Health, Nanobiosys Inc., Omada Health Inc., and Livongo Health.
Global Digital Therapeutic Devices Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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