Global Digital Therapeutics Market projected to grow at a CAGR of 27.3% during 2019-2026: know Secret Factors Behind the Growth in New Research
Data Bridge Market Research has recently added a concise research on Global Digital Therapeutics Market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline. Some are the key & emerging players that are part of coverage and have being profiled are Fitbit Health Solutions, CANARY HEALTH, Noom, Inc., Medtronic, Biogen, MindSciences, JINTRONIX, Virta Health Corp, and Dthera Sciences
Definition:
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.
Analysis of Global Digital Therapeutics Market report:
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 Drivers
- Growing Focus on Preventive Healthcare is driving the market
- Technological advancements in the industry will act as a major market driver
Market Restraints
- lack of awareness among the population is restraining the growth
- Patient data confidentiality concerns is another restraint for the market
Top Manufacturers Profiles Operating in the Global Digital Therapeutics Market:
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
Global Digital Therapeutics Market Segmentation:
By Product
- Pain Management Devices
- Rehabilitation Devices
- Respiratory Therapy Devices
- Insulin Pumps
By Application
- Preventive
o Pre Diabetes
o Obesity
o Smoking Cessation
- Treatment/Care
o Diabetes
o Cardiovascular Diseases
o Central Nervous System Disease
o Respiratory Diseases
o Musculoskeletal Diseases
o Medication Adherence
By Sales Channel
- Business-to-Consumer (B2C)
o Patient
o Caregiver
- Business-to-Business (B2B)
o Providers
o Payers
o Employers
o Pharmaceutical Companies
By Geography
- North America
- South America
- Europe
- Asia Pacific
- Middle-east and africa
Competitive Analysis:
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.
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