Report : Digital Therapeutics Market to 2025- Global Analysis and Forecasts by Application (Diabetes, Cardiovascular Diseases, Central Nervous System (CNS) Disease, Respiratory Diseases, Smoking Cessation, Musculoskeletal Diseases, Others); Distribution Channel (Patients, Providers, Payers, and Employers) and Geography
Rising pressure on healthcare providers to reduce healthcare costs is anticipated to drive the market for digital therapeutics over the forecast period.
According to a new market research study titled ‘Digital Therapeutics Market to 2025 – Global Analysis and Forecasts by Application and Distribution Channel, the global digital therapeutics market was valued at US$ 1,993.2 Mn in 2017 and is estimated to reach US$ 8,941.1 Mn by 2025. The market is estimated to grow with a CAGR of 20.8% from 2018-2025.The report highlights the trends prevalent in the global digital therapeutics market and the factors driving the market along with those that act as deterrents to its growth.
Global digital therapeutics market, based on the application is segmented into diabetes, cardiovascular disease, central nervous system disease, respiratory diseases, smoking cessation, musculoskeletal disease and others. In 2017, diabetes segment held the largest share, by application. The segment is also anticipated to grow at a significant rate during the forecast period, since there has been an increase in the incidence of diabetes across the globe.
Global digital therapeutics market is expected to grow in the coming years, owing to the rising pressure on healthcare providers to reduce healthcare cost in the market. The fiscal pressure and patent cliffs compel healthcare providers to cut on drug prices, encourage the use of generics and scale back the reimbursement. This in turn is gradually reducing the profit margins and annual net sales of the healthcare companies that leads to immediate requirement of a strategic plan so as to cut down on the operational costs.
The major players operating in the digital therapeutics market include Propeller Health, CANARY HEALTH, Noom, Inc., 2Morrow Inc., Livongo Health, Proteus Digital Health, WellDoc, Inc., Fitbit, Inc., Omada Health, Inc., and MANGO HEALTH and among others. The market players are focused towards bringing new and innovative program and product launches to sustain their position in the market. For instance, in November 2017, Fitbit, Inc. launched in Argentina with its Fitbit Versa, Fitbit Ionic and Fitbit Ionic adidas Edition smart watches and Fitbit Charge 3 fitness tracker devices. Additionally, in September 2018, Fitbit, Inc. launched Fitbit Care device that combines health coaching and virtual care through the new Fitbit Plus app.
The report segments the global digital therapeutics market as follows:
Global Digital Therapeutics Market – By Application
Central Nervous System (CNS) Disease
Global Digital Therapeutics Market – By Distribution Channel
Global Digital Therapeutics Market – By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South and Central America (SCAM)
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