A new market research study, titled “Digital Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” by Transparency Market research offers a detailed analysis of the market. The drivers, barriers, opportunities, and current trends in the global digital therapeutics market have been included in the research study. In addition, the research study throws light on the product segmentation, geographical segmentation, and the competitive scenario of the overall market.
The rising incidence of preventable chronic diseases, technological developments, and the rising need to control healthcare costs are some of the primary factors estimated to fuel the growth of the global digital therapeutics market in the next few years. In addition, the growing focus on preventive healthcare and the substantial rise in the investments are expected to encourage the growth of the market in the near future. However, concerns related to the confidentiality of patient data and resistance from traditional healthcare providers are estimated to dampen the growth of the overall market in the coming years.
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Furthermore, the rigid regulatory guidelines and unwillingness among the patients to use digital therapeutics are projected to hamper the growth of the market in the near future. Nevertheless, the vast pool of untreated and undiagnosed population and innovative therapeutics application are predicted to create opportunities for the leading players in the global digital therapeutics market.
By application, the global market for digital therapeutics can be categorized into prevention information and care-related therapeutics. The care-related therapeutics segment has been sub-segmented into smoking, musculoskeletal disorders, diabetes, liver diseases, medication adherence, central nervous system disorders, cardiovascular diseases, and others; whereas the prevention information segment has been sub-segmented into obesity and pre-diabetics. Furthermore, on the basis of end use, the global digital therapeutics market can be classified into nursing homes, hospitals, and rehabilitation centers.
At present, North America is the dominant region and accounts for a massive share in the global digital therapeutics market. The high growth of this region can be attributed to the constant technological developments in this field. Moreover, the implementation of ambulatory health monitoring function in healthcare systems in Canada and the U.S. is estimated to augment the growth of the digital therapeutics market in this region. On the other hand, Europe is expected to witness significant growth, owing to the improved digitalization of healthcare procedures and adoption of telemedicine in this region.
The key players operating in the global digital therapeutics market include Nanobiosym, Propeller Health, WellDoc Inc., Zest Health, Evolent Health, Noom Health, Doximity, Proteus Digital Health, Perfint Healthcare, Omada Health, Livongo Health, and Canary Health. The company profile, financial status, business strategies, and recent events and developments if any have been discussed in the research report to provide a clear picture of the global digital therapeutics market.
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