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Global Digital Therapeutics Market Expected to Reach $7,833 Million by 2025

 
 

quote “The global digital therapeutics market is expected to grow at a faster rate during the forecast period, owing to increase in smartphone penetration globally, especially in the developing countries. Moreover, rise in need to curb healthcare costs and increase in prevalence of chronic diseases are anticipated to supplement the market growth. In addition, the introduction of more sophisticated devices, which are compatible with smartphones and associated programs augments the growth of the market.” quote

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According to a new report published by Allied Market Research, titled, Digital Therapeutics Market by Application, Product, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 20172025," the global digital therapeutics market was valued at $1,751 million in 2017 and is projected to reach $7,833 million by 2025, growing at a CAGR of 20.5% from 2018 to 2025. The diabetes segment accounted for one-fifth of the total market share in 2017.

Rise in utilization of smartphones & tablets coupled with increase in incidence of chronic diseases boosts the growth of the global digital therapeutics market. However, lack of awareness toward healthcare-associated applications and increase in concerns regarding patient data restrict the market growth. Conversely, high growth potential in the emerging markets offers lucrative opportunities for key market players operating in this segment.

Among applications, obesity segment is expected to grow at a significant CAGR of 26.2% during the forecast period, owing to increase in obese population worldwide. For instance, according to the WHO, as of 2016, about 39% of the adults in the age group of 18 years and above were overweight, globally.

Among products, in 2017, software segment held a dominant portion in the market, accounting for about two-thirds share of the global market. This is attributed to increased penetration of smartphones and other devices in the developing economies, which in turn increases the usage of healthcare applications.

KEY FINDINGS OF THE STUDY

  • Obesity is expected to be one of the most lucrative segments, registering a CAGR of 23.1% during the forecast period.

  • The business-to-consumers (B2C) segment accounted for maximum share in the global market in 2017, and is expected to grow at a CAGR of 20.9% during the forecast period.

  • U.S. dominated the North America digital therapeutics market, and is projected to retain this trend throughout the forecast period.

  • India is expected to exhibit the highest growth in the Asia-Pacific digital therapeutics market, registering a CAGR of 27.0% during the forecast period.

  • Saudi Arabia is expected to witness the highest growth in the LAMEA digital therapeutics market, growing at a CAGR of 24.1% during the forecast period.

In 2017, North America was the highest contributor to the market in terms of revenue, owing to increase in wellness trend and early adoption of novel technologies. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the presence of high populace countries such as India and China.

The key players operating in the global digital therapeutics market are Proteus Digital Health, Inc., Omada Health Inc., WellDoc, Inc., 2Morrow, Inc., Livongo Health, Propeller Health, Twine Health, Inc., Canary Health, Inc. Noom Inc., and Medtronic Plc. The other players operating in the value chain are BiogenoQ Inc., Claritas Mindsciences, Jintronix Inc., Virta Health Corp., and Dthera Sciencess.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Key Findings of Digital Therapeutics Market Study:

  • Obesity is expected to be one of the most lucrative segments, registering a CAGR of 23.1% during the forecast period.

  • The business-to-consumer (B2C) segment accounted for maximum share in the global market in 2017, and is expected to grow at a CAGR of 20.9% during the forecast period.

  • U.S. dominated the North America digital therapeutics market, and is projected to retain this trend throughout the forecast period.

  • India is expected to exhibit the highest growth in the Asia-Pacific digital therapeutics market, registering a CAGR of 27.0% during the forecast period.

  • Saudi Arabia is expected to witness the highest growth in the LAMEA digital therapeutics market, growing at a CAGR of 24.1% during the forecast period.

In 2017, North America was the highest contributor to the market in terms of revenue, owing to increase in wellness trend and early adoption of novel technologies. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the presence of high populace countries such as India and China.

The key players operating in the global digital therapeutics market are Proteus Digital Health, Inc., Omada Health Inc., WellDoc, Inc., 2Morrow, Inc., Livongo Health, Propeller Health, Twine Health, Inc., Canary Health, Inc. Noom Inc., and Medtronic Plc. The other players operating in the value chain are BiogenoQ Inc., Claritas Mindsciences, Jintronix Inc., Virta Health Corp., and Dthera Sciencess.

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quote Digital Therapeutics Market by Application (Diabetes, Obesity, Cardiovascular Diseases (CVD), Central Nervous System (CNS) Disease, Gastrointestinal Disorders (GID), Respiratory Diseases, Smoking Cessation, and Others), Product (Software and Devices), and Sales Channel (Business-to-business [B2B] and Business-to-consumers [B2C]): Global Opportunity Analysis and Industry Forecast, 2017 - 2025 quote

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