The global digital therapeutics market size surpassed at $2.88 billion in 2019, and is expected to reach US$ 13.82 billion by 2027 with a CAGR of 20.4% during the forecast period 2020 to 2027.
The growth of the market is catapulted by increasing incidences of chronic diseases, increasing emphasis on preventive healthcare, the need to curb healthcare expenditures, and added benefits offered by digital therapeutics. Rise in number of venture capitalists that are investing in the market is another factor that is accelerating its growth.
Digital therapeutics, commonly known as software-for drugs has been gaining much attention due to the number of benefits it offers to patients that utilize it. Continuous monitoring of patient’s vital stats, ability to ensure adherence to medications, prompt reminders are some of the most important benefits offered by digital therapeutics.
With an increase in the internet usage and dependency over smartphones, digital therapeutics offers easy tracking and monitoring of patients and their vital stats without intervention. This serves in a discrete and non-interventional manner to persuade individuals to adopt healthier lifestyles and improve physical well-being. Captivating design, extended assessment, and digital tracking are features that are attributing to increasing adoption of digital therapeutics by patients, employers, providers and others.
The COVID-19 pandemic disrupted healthcare system all over the world and as health responses to the pandemic are strengthened, a need for a substantial shift to apps and hardware capable for lifestyle enhancement and medical intervention, with potentially life-saving functionalities has emerged. The digital therapeutics market is expected to be positively impacted by the COVID-19 pandemic, owing to awareness regarding importance of digital health, rise in prevalence of mental illness, and increase in rate of drug abuse globally. Moreover, during this pandemic, people are required to stay at home, which leads to less physical activity, unhealthy lifestyle, and mental stress and, in turn, increase in prevalence of chronic diseases. Hence, there is a rise in demand for DTx devices and software across the globe.
The global digital therapeutics market size was estimated at $1.9 Billion in 2019 and is expected to grow at 23% CAGR from 2020 to 2027
Diabetes is expected to gain the largest market share on the basis of application owing to increasing incidence rates globally and preventive steps taken to reduce them
Obesity is also expected to account for a considerable market share due to various healthcare reforms to curb the disease initially and prevent further costs associated with the disease
The adoption of digital therapeutics offers reduction in healthcare costs associated with diseases like diabetes and obesity and are thus being used on an increasing scale
Digital tracking, continuous monitoring, and management of physical activity and eating habits are factors that are propelling the growth of the market
Increasing usage in preventive areas for a wide range of diseases and disorders like respiratory disorders, CVD, and CNS disease are attributes that are bringing about growth of the market
Patients accounted for the largest market share in the end-user’s segment owing to user-friendly interface and effective management of diseases
The North American region accounted for the highest revenue owing to technological advancement and healthcare expenditure to curb rise in number of chronic diseases
The Asia Pacific region is expected to garner considerable growth during the forecast period owing to increasing adoption of advanced healthcare technologies and rise in number of chronic diseases
The report provides a comprehensive analysis of the key players operating in the global digital therapeutics market, namely 2MORROW, Inc., Akili Interactive Labs, Inc., Click Therapeutics, Inc., Fitbit, Inc. (Twine Health, Inc.), Happify, Inc., Kaia Health, Livongo Health, Inc., Medtronic Plc., Omada Health, Inc., Pear Therapeutics, Inc., Proteus Digital Health, Inc., Resmed, Inc. (Propeller Health), Voluntis, Inc., Welldoc, Inc. The other players in the value chain include (profiles not included in the report) Canary Health Inc., Mango Health Inc., Noom, Inc., and Dthera Sciences.
The Digital therapeutics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Digital therapeutics market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Digital therapeutics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Digital therapeutics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Digital therapeutics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Digital therapeutics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Digital therapeutics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Digital therapeutics market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Digital therapeutics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Digital therapeutics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Digital therapeutics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Digital therapeutics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Digital therapeutics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Digital therapeutics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Digital therapeutics market. These factors have benefited the growth of the global market for Digital therapeutics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Digital therapeutics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Key Market Segments
By Product Type
By Sales Channel
In this study, the years considered to estimate the market size of Microcontroller are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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