Digital Therapeutics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Pharmaceutical Report Format : PDF Report Code: ZMR-5515 Status : Upcoming

Description

Digital Therapeutics Market : Overview

With healthcare sector facing uphill task due to increase in the aging patient population and rise in chronic ailments, the digital therapeutics has become a need of an hour. Over the past few years, digital therapeutics has made rapid progress and has been accepted as a key replacement for conventional clinical treatment. In addition to this, research studies have revealed favorable outcomes of digital therapeutics in treating of diseases like cancer, insomnia, ADHD, schizophrenia, and asthma. With patients requiring user-friendly as well as informative healthcare items, the market is likely to gain traction over the coming years.

Furthermore, healthcare service providers want a digital tool that can serve large number of patients effectively at reduced costs and digital therapeutics fits this need. Currently, pharmaceutical & medical equipment firms are trying to create new digital solutions for enhancing the medical treatments along with introducing newer ones. This will make digital therapeutics more popular across healthcare & pharmaceutical sectors over the years ahead.

Additionally, digital therapeutics offers variety of solutions to the healthcare problems of the patients. For instance, video games are utilized for effectively treating behavioral health issues as well as neurological disorders in individuals. Various kinds of digital therapeutics used for diagnosing & treating patients includes neurological music therapy, use of smartphone app that can produce electrocardiograms from distant location, and AI technology for helping patients with mental disorders to regain motor ability or dexterity.

Digital Therapeutics Market: Growth Dynamics

The market is likely to experience optimal growth over the forecast period with governments in large number of countries focusing on digital transformation of the healthcare systems. Apart from this, integration of IT infrastructure facility with other public solutions like Citizen – ID as well as consent management systems is likely to tool that will encourage the patient population base to accept digital solutions, thereby further driving the market trends. Moreover, healthcare firms across the globe are focusing on promoting open innovation ecosystem with the help of which the healthcare service providers can create their own user interfaces to access the healthcare data of the patients, thereby creating lucrative growth avenues for the digital therapeutics industry over the forecast timeline.

Thriving biopharmaceutical industry, breakthroughs in therapeutics, and onset of CRISPR technologies have paved the way for the growth of precision medicine as well as personalized medicine. This has further enlarged the scope of the market in the recent years. Upturn in therapeutic approvals by organizations like U.S. FDA and successful introduction of new therapeutics will exalt the expansion of the digital therapeutics market in the foreseeable future. Live monitoring of clinical trials on the patients through use of sensors and wearables will help the digital therapeutics industry flourish over the upcoming years. Large-scale acceptance of digital therapeutics by both the consumers & physicians will promulgate the market growth within the next couple of years.

Digital Therapeutics Market : Segmentation

The global digital therapeutics market can be segmented according to end-user industry and region. Based on the end-user industry, the market is segmented into biopharmaceutical, pharmaceutical, healthcare, biotechnology, and medical sectors. Region- wise, the industry can be segregated into North America, the Middle East and Africa, Asia Pacific, Europe, and Latin America.

Digital Therapeutics Market : Regional Analysis

North America is likely to capture huge chunk of global market share over the coming years. The growth of the industry in the region can be credited to favorable regulations introduced by U.S. FDA for promoting digital innovations in the medical & healthcare sectors in the region. In addition to this, various tech firms in the U.S. are integrating analytic abilities with data collection methods to improve the healthcare infrastructure & healthcare services in the country. For instance, Amazon’s Alexa helps in diagnosing health issues of the patients through use of voice commands and Apple’s wearables are constantly monitoring & integrating electronic health records of patients along with providing the facility to the patients to observe their data on smartphones.

Competitive Landscape

With players in the digital therapeutic business adopting new technologies like advanced analytics, human-centered product designs, flexible business models, and hardware engineering, the market is likely to have huge growth prospects in the years ahead. Furthermore, meaningful incentives, loyalty programs, and effective workflow integration offered by various industry players will have a favorable impact on the market revenue in the coming years.

Key players influencing the business growth are Voluntis, AliveCor, Inc., 2Morrow Inc., Akili Interactive Labs., Proteus Digital Health, Inc.,Google, Inc., Ginger.io, Inc., Livongo Health, WellDoc, Inc., Mocacare, Apple, Inc., Amazon.com., Inc., and Omada Health, Inc.

Global Digital Therapeutics Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content


Frequently Asked Questions

The market is likely to experience optimal growth over the forecast period with governments in large number of countries focusing on digital transformation of the healthcare systems. Apart from this, integration of IT infrastructure facility with other public solutions like Citizen – ID as well as consent management systems is likely to tool that will encourage the patient population base to accept digital solutions, thereby further driving the market trends. Moreover, healthcare firms across the globe are focusing on promoting open innovation ecosystem with the help of which the healthcare service providers can create their own user interfaces to access the healthcare data of the patients, thereby creating lucrative growth avenues for the digital therapeutics industry over the forecast timeline. Thriving biopharmaceutical industry, breakthroughs in therapeutics, and onset of CRISPR technologies have paved the way for the growth of precision medicine as well as personalized medicine. This has further enlarged the scope of the market in the recent years.

Key players influencing the business growth are Voluntis, AliveCor, Inc., 2Morrow Inc., Akili Interactive Labs., Proteus Digital Health, Inc.,Google, Inc., Ginger.io, Inc., Livongo Health, WellDoc, Inc., Mocacare, Apple, Inc., Amazon.com., Inc., and Omada Health, Inc.

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