The global digital therapeutics market is estimated to arrive at USD 19.1 billion by 2028. It is projected to develop by 23.1% CAGR from 2021 to 2028.
Need for the reasonably priced and modern healthcare, rising frequency of chronic sicknesses, digitization, and lead by the government are the most important driving factors, responsible for the enlargement of the market for digital therapeutics (DTx).
At some stage in 2020, digital wellbeing changed from work of fiction to requirement. It stretched via nearly each healthcare area because the implementation was on highest level. It was stepped up by the eruption of Covid-19 pandemic. This was incorporated digital therapeutics, triage solutions, telemedicine, mHealth, digital pathology and telehealth.
By way of an augmentation in the use of internet and dependence on smart phones, the digital therapeutics is placed to record constant expansion, during the forecast period.
This is because of the enhanced demand for the inventive and productive treatment alternatives, which could be use distantly by the patients.
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Further key findings from the report suggest:
• The market in Asia Pacific is estimated to get substantial augmentation throughout the forecast period, due to increase in the figure of chronic sicknesses, acceptance of highly developed healthcare technologies and rising digitization
• In 2020, North America held above 41.0% revenue share of the global digital therapeutics market, because of the existence of most important companies and technical progressions, within the region
• Due to the rising frequency of lifestyle and chronic illnesses, the patients section held the biggest share of the market, in 2020, by end use
• The increasing implementation of administration of physical movement as well as eating behavior, digital follow-up and incessant monitoring are the additional drivers, boosting the development of the digital therapeutics market
• The obesity division is, moreover, projected to hold a sizeable market share during the forecast period because of the increasing frequency plus the expenditures, linked with the situation. The implementation of digital therapeutics presents a lessening in healthcare overheads, connected with ailment similar to obesity as well as diabetes and is therefore used on a rising level
• By application, the diabetes section is anticipated to grasp the leading share of the market. It is estimated to observe the highest CAGR throughout the forecast period. This is because of the rising occurrence of the sickness along with the expenditures linked with the treatment
Million Insights segmented the global digital therapeutics market based on End Use, Application, and Region.
Digital Therapeutic Application Outlook (Revenue, USD Million, 2016 - 2028)
• CNS Disease
• Respiratory Diseases
• Smoking Cessation
Digital Therapeutic End-use Outlook (Revenue, USD Million, 2016 - 2028)
Digital Therapeutic Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• Asia Pacific
• Latin America
• South Africa
• Saudi Arabia
Various companies for digital therapeutics market are:
• Noom Health, Inc.
• Twine Health, Inc.
• Propeller Health
• 2Morrow, Inc.
• Omada Health, Inc.
• Mango Health, Inc.
• Canary Health, Inc.
• Pear Therapeutics
• Livongo Health
• WellDoc, Inc.