The rise in the possibility of chronic conditions, growing technological advancements, the need to restrain healthcare costs, and an increased focus on healthcare are some of the factors driving the Digital Therapeutics Market.
Jersey City, N.J., April 7, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Digital Therapeutics Market" By Sales Channel (B2B, B2C), By Application (Preventive Applications, Treatment/Care-Related Applications), and By Geography. According to Verified Market Research, the Global Digital Therapeutics Market size was valued at USD 121.1 Million in 2020 and is projected to reach USD 1365.5 Million by 2028, growing at a CAGR of 41.3% from 2021 to 2028.
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Browse in-depth TOC on "Digital Therapeutics Market"
202 - Pages
126 - Tables
37 - Figures
Global Digital Therapeutics Market Overview
The high prevalence and incidence of chronic diseases are a major concern for global healthcare systems. The treatment of patients with chronic diseases is a major challenge because psychosomatic as well as bio psychic factors frequently impact these patients. Patients must take responsibility for their actions as part of a new self-care way of life because chronic diseases are typically associated with high uncertainty. Moreover, many chronic diseases and conditions are advanced, and their prevalence rises with age. As a result of the significant increase in the global geriatric population, chronic disorders are expected to increase during the forecasted period.
Furthermore, the Growing adoption of smartphones and tablets, combined with healthcare apps, enhanced the need to regulate medical costs, substantial advantages to the overall healthcare continuum, and increase in chronic disease incidences drive growth in the global Digital Therapeutics Market. The major restrain for the global digital therapeutic is that many countries reject necessary permits to different health apps, expressing concern about product and quality of data, durability in medical decisions, patient confidentiality, safety, and appropriate data use.
Key Developments
- In March 2021, Pear Therapeutics (US) collaborated with Spectrum Health Systems (US). Tufts Health Plan and Spectrum Health Systems declared a partnership with Pear Therapeutics to test FDA-approved digital therapeutics to assist people with drug use disorders and enhance their recovery journeys by providing solutions for better treatment access and treatment advancement.
- In April 2021, Welldoc has partnered up with Dexacom. This collaboration aided BlueStar in supplying Dexcom G6 CGM as a single platform to people with Type 2 diabetes for health improvement.
Key Players
The major players in the market are Propeller Health, Proteus Digital Health, Inc., Omada Health, Inc., Canary Health, Inc, WellDoc, Inc., Livongo Health, Twine Health, Inc., and 2Morrow, Inc.
Verified Market Research has segmented the Global Digital Therapeutics Market On the basis of Sales Channel, Application, and Geography.
- Digital Therapeutics Market, By Sales Channel
- B2B (business-to-business)
- B2C (business-to-consumer)
- Digital Therapeutics Market, By Application
- Preventive Applications
- Treatment/Care-Related Applications
- Digital Therapeutics Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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