According to research report, the global digital therapeutics market is projected to reach USD 6.9 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 26.7% during the forecast period (2020–2025).
The growth of the digital therapeutics market is primarily driven by factors such as government initiatives for preventive healthcare, technological advancements in mobile healthcare, a significant increase in venture capital investments, and the benefits of digital therapeutics, such as the ability to induce behavioral change (an important challenge in healthcare), user-friendliness, patient convenience, and improved drug compliance.
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North America accounted for the largest share of the digital therapeutics market in 2019
The global digital therapeutics market is segmented into North America, Europe, the Asia Pacific, and the RoW. In 2019, North America (US and Canada) held the largest share of the market, followed by Europe. The major factors supporting market growth include the increasing investments in digital therapeutics, the influx of new start-ups, improvements in the reimbursement structure for digital therapeutics, and government initiatives to support technological advancements.
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Based on the sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B). In 2019, the B2B segment accounted for the largest market share; it is also expected to grow at the highest CAGR of the digital therapeutics market. There is growing awareness among providers, payers, and employers about the benefits provided by digital therapeutics and the healthcare cost reductions achieved by their use.
Based on the type of buyer, the B2C sales channel market is further segmented into patients and caregivers. The caregivers segment is expected to dominate the market and register the highest CAGR during the forecast period. The high growth of this segment is attributed to company initiatives for the development of products specifically for caregivers and the fact that digital therapeutics help caregivers in better managing their patients.
Based on the application, the digital therapeutics market is segmented into preventive and treatment/care-related applications. One of the key factors driving the growth of this segment is the rise in treatment and healthcare costs, especially due to chronic conditions. Rising healthcare costs, the growing prevalence of chronic diseases, and the ability of digital therapeutics to provide cost-effective solutions are some factors responsible for driving the market for treatment/care-related digital therapeutics applications.
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Some key players mentioned in the research report are:
The digital therapeutics market is fragmented in nature, with a large number of players, including tier 1 and mid-tier companies competing for market shares. The prominent players in the global digital therapeutics market include Noom (US), Livongo Health (US), Omada Health (US), WellDoc (US), Pear Therapeutics (US), Proteus Digital Health (US), Propeller Health (US), Akili Interactive Labs (US), Better Therapeutics (US), Happify (US), Kaia Health (Germany), Mango Health (US), Click Therapeutics (US), Canary Health (US), Wellthy Therapeutics (India), Cognoa (US), Ayogo Health (Canada), Mindstrong Health (US), 2Morrow (US), and Ginger (US).
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Rising healthcare costs, the growing prevalence of chronic diseases, and the ability of digital therapeutics to provide cost-effective solutions are some factors responsible for driving the market for treatment/care-related digital therapeutics applications.The global digital therapeutics market is projected to reach USD 6.9 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 26.7% during the forecast period (2020–2025).The growth of the digital therapeutics market is primarily driven by factors such as government initiatives for preventive healthcare, technological advancements in mobile healthcare, a significant increase in venture capital investments, and the benefits of digital therapeutics, such as the ability to induce behavioral change (an important challenge in healthcare), user-friendliness, patient convenience, and improved drug compliance.The Digital Therapeutic (DTx) Market is Segmented on:1.
Sales ChannelBrowse 134 market data Tables and 27 Figures spread through 166 Pages.Download PDF Brochure @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=516467241B2B segment is expected to grow at the highest CAGR during the forecast periodBased on the sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B).
In 2019, the B2B segment accounted for the largest market share; it is also expected to grow at the highest CAGR of the digital therapeutics market.Caregivers segment is expected to dominate the marketBased on the type of buyer, the B2C sales channel market is further segmented into patients and caregivers.
The caregivers segment is expected to dominate the market and register the highest CAGR during the forecast period.
The high growth of this segment is attributed to company initiatives for the development of products specifically for caregivers and the fact that digital therapeutics help caregivers in better managing their patients.Regional Growth, Development and Demand Analysis:The global digital therapeutics market is segmented into North America, Europe, the Asia Pacific, and the RoW.
In 2019, North America (US and Canada) held the largest share of the market, followed by Europe.
According to the new market research report ” Digital Therapeutic (DTx) Market by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel (B2C, Patient, Caregiver, B2B, Providers, Payer, Employer, Pharma) – Global forecasts to 2025″, published by MarketsandMarkets™, digital therapeutics market is projected to reach USD 6.9 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 26.7% during the forecast period (2020–2025).Exhaustive secondary research was conducted to collect information on the market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing values with industry experts across the value chain through primary research.
The study involved four major activities in estimating the current size of the global digital therapeutics market.Key Factors Driving Market Growth:The growth of the digital therapeutics market is primarily driven by factors such as government initiatives for preventive healthcare, technological advancements in mobile healthcare, a significant increase in venture capital investments, and the benefits of digital therapeutics, such as the ability to induce behavioral change (an important challenge in healthcare), user-friendliness, patient convenience, and improved drug compliance.Revenue Growth Analysis:The global digital therapeutics market is projected to reach USD 6.9 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 26.7% during the forecast period (2020–2025).Don’t miss out on business opportunities in digital therapeutic (DTx) Market :DTx solutions can be bought or sold in two ways i.e.
Through the B2C channel, digital therapeutics providers sell products directly to users or their caregivers, whereas in the B2B channel, digital therapeutics providers sell their products to providers, payers, pharmaceutical companies, and employers.
The B2B channel accounted for the largest share of the market in 2019.Browse in-depth TOC on “Digital Therapeutic (DTx) Market”134 – Tables27 – Figures166 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=51646724Caregivers segment is expected to dominate the marketBased on the type of buyer, the B2C sales channel market is further segmented into patients and caregivers.
The caregivers segment is expected to dominate the market and register the highest CAGR during the forecast period.
Digital therapeutics (DTx) deliver therapeutic interventions directly to patients using employing evidence-based, remote assessed software to serve, manage and avert a broad spectrum of behavioural, mental and physical disorders.
Get More Insight About the Europe Digital Therapeutic (DTx) Market, Request Sample @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=europe-digital-therapeutics-market The digital therapeutic (DTx) market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.
To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.Digital therapeutic (DTx) Market Scope and Market SizeThe digital therapeutic (DTx) market is categorized into four segments which are based on product and service type, application, purchase mode and sales channel.
The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.On the basis of product and service type, the digital therapeutic (DTx) market is segmented into hardware products, solutions/software and service.
Strategic Initiatives by Manufacturers is Creating New Opportunities for Players in the Digital Therapeutic (DTx) MarketThe digital therapeutic (DTx) market also provides you with detailed market analysis for every country growth in digital therapeutic (DTx) product sales, impact of advancement in the digital therapeutic (DTx) and changes in regulatory scenarios with their support for the digital therapeutic (DTx) market.
Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve.
Increasing prevalence of chronic diseases such as diabetes, hypertension among others as well as the rising awareness by government agencies will increase the growth of the digital therapeutic (DTx) market.Digital therapeutics (DTx) deliver therapeutic interventions directly to patients using employing evidence-based, remote assessed software to serve, manage and avert a broad spectrum of behavioural, mental and physical disorders.
Get More Insight About the North America Digital Therapeutic (DTx) Market, Request Sample @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=north-america-digital-therapeutics-market The digital therapeutic (DTx) market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.
To understand the analysis and the digital therapeutic (DTx) market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.Digital Therapeutic (DTx) Market Scope and Market SizeThe digital therapeutic (DTx) market is categorized into four segments which are based on product and service type, application, purchase mode and sales channel.
The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.On the basis of product and service type, the digital therapeutic (DTx) market is segmented into hardware products, solutions/software and service.
The U.S. has the highest household spending in the world and offers trade agreements with several countries making it the largest market for consumer products including digital therapeutic (DTx) productsStrategic Initiatives by Manufacturers is creating new opportunities for Players in the Digital Therapeutic (DTx) MarketThe digital therapeutic (DTx) market also provides you with detailed market analysis for every country growth in digital therapeutic (DTx) product sales, impact of advancement in the digital therapeutic (DTx) and changes in regulatory scenarios with their support for the digital therapeutic (DTx) market.
Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve.
