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Global Digital Therapeutics Market By End Use, By Applications, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027

The Global Digital Therapeutics Market size is expected to reach $14. 5 billion by 2027, rising at a market growth of 21. 8% CAGR during the forecast period. Digital therapeutics is a group of applications, which assist in curing diseases by altering patient’s behaviour and offering remote supervision to enhance long-term health results.

New York, May 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Digital Therapeutics Market By End Use, By Applications, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06073595/?utm_source=GNW
There is a broad range of products include in digital therapeutics like wearable devices, mobile applications, and sensors. However, it is different from digital health based on the clinical results for patients.

Consumer health-oriented technologies like calorie-counter and step counter do not fall under the ambit of digital therapeutics. Digital therapeutics is a new category of healthcare solutions that utilizes digital technology to protect, manage and cure different medical conditions. Additionally, it also uses digital health technologies to cure a patient with some medical problems, which is why it is becoming a popular concept in today’s digital world.

There is an increasing demand for digital therapeutics across the globe, due to the rising adoption of smartphones & tablets along with healthcare apps, increasing cases of chronic diseases, and the growing need to manage healthcare costs. Moreover, high growth opportunities in the undiscovered markets are anticipated to offer new growth avenues for the manufacturers operating in the digital therapeutics market. Though, the absence of awareness related to digital therapeutics in emerging nations and the increasing concern about patient data is hampering the growth of the market.

End Use Outlook

Based on End Use, the market is segmented into Patients, Providers, Payers, Employers and Others. The providers market segment is estimated to record a significant growth due to the determinants like increasing number of companies are using digital therapeutics to provide clinically proven therapies without a healthcare setup, and also offer reliable patient engagement. This segment has huge potential for growth and players are also gaining more interest in covering digital therapeutics.

Application Outlook

Based on Applications, the market is segmented into Diabetes, CNS Disease, Respiratory Diseases, Smoking Cessation, Obesity, CVD and others. On the basis of application, the diabetes market segment procured the highest share in the total revenue of the market in 2020. This segment is estimated to witness the highest growth over the forecast period. The increasing cases of diabetes among the people across the globe are contributing to the growth of the segment.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. By region, North America emerged as a leading region in the digital therapeutics market with the highest market share in 2020. It is due to the factors like the prevalence of key market players, full developed healthcare infrastructure, increasing government initiatives, and growing prevalence of chronic diseases.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; ResMed, Inc. is the major forerunner in the Digital Therapeutics Market. Companies such as Pear Therapeutics, Inc., Omada Health, Inc., and Noom, Inc., Mindstrong, Inc., Welldoc, Inc. are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ResMed, Inc. (Propeller Health), Teladoc Health, Inc. (Livongo Health), Noom, Inc., Omada Health, Inc., Welldoc, Inc., Canary Health, Mango Health, Inc. (TrialCard, Incorporated), 2Morrow, Inc., Pear Therapeutics, Inc., and Mindstrong, Inc.

Recent strategies deployed in Digital Therapeutics Market

Partnerships, Collaborations, and Agreements:

Mar-2021: Welldoc joined hands with Eli Lilly, an American pharmaceutical company. This collaboration aims to make the latest version of Welldoc’s BlueStar, an app-based diabetes management platform, which would combine insulin dosing data for Lilly insulin products.

Jan-2021: Pear Therapeutics signed an agreement with etectRx, a Digital Health company. This agreement aims to develop a product, which integrates the former’s digital therapeutics with a digital pill portfolio. Under this agreement, the companies will meet quarterly to discuss potential collaborations with the pharma industry.

Aug-2020: Teladoc Health came into partnership with NTCA, the Rural Broadband Association. Under this partnership, both entities aim to bring behavioral health services to more than 40,000 people, who are enrolled in NTCA’s Group Health Program (GHP) medical plan.

May-2020: Noom collaborated with LifeScan, a world leader in blood glucose monitoring. Under this collaboration, the companies work on a pilot program combining the latter company’s OneTouch Reveal app with Noom’s digital diabetes & weight loss management program.

Mar-2020: Welldoc collaborated with Dexcom, the global leader in continuous glucose monitoring (CGM) systems for people with diabetes. Under this collaboration, Welldoc’s award-winning BlueStar, a digital health product for people having type 1 and type 2 diabetes, is allowed to provide insights to Dexcom G6 CGM system customers.

Feb-2020: Welldoc partnered with Redox, the leading interoperability platform for healthcare data exchange. This partnership would enable providers to get and review insights about customers of the BlueStar digital health app for diabetes management personal: y in their EHR at the point of care.

Jan-2020: Noom teamed up with EVERSANA, the leading independent provider of commercial services to the life science industry. This collaboration aims to grow medication adherence and enhance health outcomes for the many patients who are suffering from chronic and rare diseases across the world.

Jan-2020: Pear Therapeutics came into an agreement with Apricity Health, a powerful digital platform that helps clinical teams optimally monitor and manage cancer treatment. This agreement aims to make up to two product candidates for precision management of patients, who are undergoing cancer treatment.

Nov-2019: Welldoc came into collaboration and license agreement with Astellas Pharma. Together, the companies make and commercialize BlueStar in Japan and other Asian markets for patients having diabetes and increase the adoption of BlueStar in the U.S. market.

Oct-2019: Noom joined hands with Novo Nordisk, a Danish multinational pharmaceutical company. The collaboration aimed to implement digital therapies for obesity.

Oct-2019: Omada Health partnered with Abbott, an American multinational medical devices and health care company. Together, the companies aimed to integrate Abbott’s revolutionary FreeStyle Libre system, a CGM technology, with Omada Health’s pioneering digital care program, to make the latest paradigm for individuals with Type 2 diabetes.

Oct-2019: Welldoc formed a partnership with Competitive Health, which develops and delivers technology-driven consultative solutions. In this partnership, Competitive Health’s customer would be provided BlueStar, which is Welldoc’s digital assistant for people having type 2 diabetes. Competitive Health also introduced the SHOWBenefits platform to its enrolled employers to simplify the delivery of healthcare by combining all medical & healthcare services on a single mobile platform.

Oct-2019: Pear Therapeutics came into collaboration with Ironwood Pharmaceuticals, a pharmaceutical company. This collaboration aimed to evaluate Prescription Digital Therapeutics (PDTs) for curing selected indications under the gastrointestinal (GI) space. The collaboration also leverages Pear’s platform and offering in PDTs with Ironwood’s advanced GI franchise expertise.

Jun-2019: Canary Health formed a partnership with Catasys, a leading AI and technology-enabled healthcare company. Under this partnership, Catasys has developed a distinct, proprietary approach to active health plan members with their behavioral health requirements, who are also having chronic diseases. Providing digital access to Canary Health’s online program to these members and expand its platform to address chronic disease personally.

Mar-2019: Mango Health came into partnership with EnvoyHealth, the pharma services division of Diplomat. Through this partnership, Mango Health would develop a custom white-label version of its app that Envoy would provide to patients to support its traditional hub services.

Feb-2019: Propeller Health partnered with Orion Corporation, a Finnish pharmaceutical company. Under this partnership, Orion’s prevailing line of Easyhaler products would link to Propeller’s digital medicine platform through a small, custom-built sensor. Through connecting Easyhaler to Propeller’s digital platform, patients and their providers got a new ability to enhance the customer experience of Easyhaler products and assist patients to more adhere to the treatments.

Acquisition and Mergers:

Jul-2020: Teladoc Health acquired InTouch Health, a virtual care platform providing healthcare solutions. Through this acquisition, Teladoc broadened its offerings to InTouch Health’s customer base of more than 450 hospitals. In addition, Teladoc integrated InTouch’s technologies, customized for complex medical environments of every shape and size, to assist Teladoc to provide a broader range of services and enhanced patient experience in ambulatory care, acute care, and home care settings.

May-2020: Omada Health took over Physera Health, a company that offers telehealth physical therapy appointments. The acquisition added one more digital health platform to Omada’s toolbox that consists of solutions for diabetes, hypertension, and behavioral health.

Jan-2020: Pear Therapeutics took over two technologies for pain treatment. This acquisition includes two clinical-stage digital therapeutics from Firsthand Technology. It includes utilizing virtual reality headsets to decrease both acute & chronic pain, which in early trials showcased substantial pain reduction in patients.

Product Launches and Product Expansions:

Apr-2021: Omada Health unveiled Omada Insights Lab. It is an initiative that focuses on using science to maximize the clinical efficacy and behavioral design of its digital therapeutics (DTx) products just like Omada Health provides DTx for various chronic conditions & preventative health.

May-2021: Pear Therapeutics introduced PEAR Assistance Program. This program aims to make sure about eligible patients with Substance Use Disorder or Opioid Use Disorder get access to FDA-authorized prescription digital therapeutics (PDTs) for addiction treatment. Under this program, the company offers access to reSET and reSET-0, free of cost, to eligible patients, who are under the monitoring of a licensed US healthcare provider.

Jun-2018: Omada Health launched new programs developed to support people with Type 2 diabetes & hypertension. The addition of diabetes and hypertension programs was a part of Omada’s objective to become more comprehensive health management and coaching offering.

Scope of the Study

Market Segments covered in the Report:

By End Use

• Patients

• Providers

• Payers

• Employers

• Others

By Application

• Diabetes

• CNS Disease

• Respiratory Diseases

• Smoking Cessation

• Obesity

• CVD

• others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• ResMed, Inc. (Propeller Health)

• Teladoc Health, Inc. (Livongo Health)

• Noom, Inc.

• Omada Health, Inc.

• Welldoc, Inc.

• Canary Health

• Mango Health, Inc. (TrialCard, Incorporated)

• 2Morrow, Inc.

• Pear Therapeutics, Inc.

• Mindstrong, Inc.

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06073595/?utm_source=GNW

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