Digital Therapeutics Market Overview and Introduction

The global digital therapeutics market is anticipated to witness a double digit CAGR from 2019 to 2030 and was valued at over US$ 1.9 Bn in 2018. It is anticipated to grow at a 26.8% CAGR from 2019 to 2030.

Digital Therapeutics is a form of digitalized health solution which utilizes the likes of online and digital health technologies, to treat several psychological and medical conditions. These applications assist patients and medical professionals to track various health related data and provide options for remote monitoring, thereby, providing means to improve long-term health conditions.

The global digital therapeutic market is driven by can be attributed to several factors, increasing use of smartphones and internet, increasing awareness related to digital health therapy, and rising number of chronic diseases & geriatric population. Moreover, need to curb the growing healthcare cost and provide better healthcare to population. However, lack of awareness and data security of customers and healthcare professionals are likely to restrain the market to a certain extent.

Digital Therapeutics Market by Application

On the basis of application the market can be segmented into, obesity, diabetes, central nervous system (cns) disorders, cardiovascular diseases, respiratory diseases, medical adherence, smoking cessation and other application. In terms of market share, the segment of diabetes is estimated to account for the largest market share. Factors such as rising prevalence of diabetic patients globally are propelling the growth of the segment, it is estimated that more than 422 million people are suffering from diabetes. Moreover in 2016, an estimated 1.6 million deaths were caused directly due to diabetes (Source WHO)

Digital Therapeutics Market by Users

Based on the end users, the market is segmented into providers, payers, patients and other end users. The providers segment is estimated to account for the largest share of the global digital therapeutic market. The large share of this segment can be attributed to presence of advanced facilities and large capital to invest in digital therapeutics is likely to drive the growth of the segment.

Digital Therapeutics Market by Regions

The global digital therapeutic market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of digital therapeutics, followed by Europe and Asia Pacific. North America will continue to dominate the global digital therapeutic market in the forecast period owing to factors such increasing adoption of technologically advanced products to improve its healthcare and reduce cost of hospital visit, and high adoption rate of digital therapeutic among patients and physicians. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, Korea, Japan and India. Factors such as rise in highly advanced hospital infrastructure and growing adoption of smartphones & internet.

Digital Therapeutics Market Prominent Players

The prominent players in the global digital therapeutic market are Pear Therapeutics, Inc., Proteus Digital Health, Inc, 2Morrow, Inc., Omada Health, Inc., Livongo Health, Ginger.Io, Inc., Noom, Inc. Mango Health, Canary Health, Inc., and Propeller Health among others.