The use of digital therapeutics is
primarily defined as a health discipline and treatment option which utilizes
digital and online health technologies for a medical treatment or any
psychological condition. The digital therapeutics further assists in providing
a new approach for treating and the disease management by using the digital
systems that assists patients in managing their own health and disease
conditions. The use of digital therapeutics further consists over a vast range
of product types, apps, wearable devices, and telemedicine platforms, and many
others.
Based on product, digital
therapeutics market is segmented as devices and software. The software segment
dominates the market owing to rise in demand for reducing healthcare costs
across the world. Based on application, market is segmented as treatment or
care-related applications and preventive applications. Treatment or
care-related applications include CNS disorders, diabetes, musculoskeletal
disorders, chronic respiratory disorders, smoking cessation, cardiovascular
diseases, substance use & addiction management, gastrointestinal disorders,
medication adherence, rehabilitation & patient care and others. Preventive
applications include nutrition, obesity, lifestyle management and others. The
diabetes segment holds large share in market due to high prevalence of
diabetes. Additionally, obesity segment is anticipated to exhibit higher growth
rate as a result of increase in number of overweight populations as well as
rise in number of chronic diseases during the forecast period. In addition,
based on sales channel, market is segmented as Business-to-Consumer (B2C) and
Business-to-Business (B2B).
The digital therapeutics market is
driven by rise in need to control healthcare costs, followed by increase in
adoption of smartphones & tablets coupled with healthcare apps and rise in
incidence of chronic diseases. However, patient data privacy concerns and lack
of awareness regarding digital therapeutics in developing countries may impact
the market. Moreover, unexplored therapeutic applications and large undiagnosed
& untreated population are key opportunities for market.
Based on geography, the
North-American region holds major share in market owing to increase in number
of reforms to curb the rise in healthcare spending in the country coupled with
drive to focus on a patient-centric healthcare approach in the region. Whereas,
the Asian-Pacific and European regions are estimated to exhibit substantial
growth rate due to highly dense population & rapid urbanization and rapidly
changing technological landscape over the forecast period. In upcoming years, it
is predicted that future of the market will be optimistic on account of rise in
prevalence of chronic diseases and lifestyle associated diseases during the
forecast period. The global digital therapeutics market was valued at US $2,238
million in 2018 and is likely to reach US $9,640 million by 2026 with a CAGR of
19.9% during the forecast period.
For More Information, Click on the Link Below:-
Global
Digital Therapeutics Market
Contact Us:-
Ken
Research
Ankur Gupta, Head Marketing &
Communications
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