Growth in this market is primarily driven by the increasing incidence of preventable chronic diseases, the need to control healthcare costs, rising focus on preventive healthcare, and rising investments in digital therapeutics.
New York, July 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Therapeutics Market by Application, Sales Channel - Global Forecasts to 2026" - https://www.reportlinker.com/p04027699/?utm_source=GNW
However, a lack of awareness and access to digital therapeutics programs in developing countries, resistance from traditional healthcare providers, and unstable payment models are challenging the growth of this market.
Treatment/care-related applications segment accounted for the largest share of the digital therapeutics market in 2020
Based on application, the digital therapeutics market is segmented into preventive and treatment/care-related applications. The large share of this segment is attributed to the growing incidences of chronic diseases, the rising economic burden of their treatment, and investments in digital therapeutics to encourage the development of cost-effective and scalable treatment platforms for these conditions.
Diabetes segment is expected to dominate the market
Based on the type of treatment/care-related application, the digital therapeutics market is further segmented into diabetes, CNS disorders, chronic respiratory diseases, musculoskeletal disorders, cardiovascular diseases, smoking cessation, medication adherence, gastrointestinal disorders, substance use disorders & addiction management, rehabilitation & patient care, and other treatment/care-related applications. Diabetes commanded the largest share of 19.0% of the digital therapeutics market for treatment/care-related applications in 2020. The growing prevalence of diabetes, high healthcare costs associated with diabetes, and increasing government initiatives to reduce the burden with the help of cost-effective solutions are expected to drive the market growth in this segment.
B2B segment is expected to grow at the highest CAGR during the forecast period.
Based on the sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B). This is attributed to growing awareness among providers, payers, and employers about the benefits of digital therapeutics and the inclination of pharmaceutical companies to integrate digital therapeutics with their drug products.
North America to be the largest and the fastest-growing regional market
North America, which comprises the US and Canada, forms the largest market for digital therapeutics.Factors such as the influx of new startups, increasing investments in digital therapeutics, improvements in the reimbursement structure for digital therapeutics, and government initiatives to support technological advancements drive market growth in this region.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 (50%), Tier 2 (30%), and Tier 3 (20%)
• By Designation: C-level (75%), D-level (15%), and Others (10%)
• By Region: North America (70%), Europe (20%), APAC (7%), and the RoW(3%)
List of Companies Profiled in the Report
• Noom (US)
• Livongo Health (US)
• Omada Health (US)
• WellDoc (US)
• Pear Therapeutics (US)
• Proteus Digital Health (US)
• Propeller Health (US)
• Akili Interactive Labs (US)
• Better Therapeutics (US)
• Happify (US)
• Kaia Health (Germany)
• Mango Health (US)
• Click Therapeutics (US)
• Canary Health (US)
• Wellthy Therapeutics (India)
• Cognoa (US)
• Ayogo Health (Canada)
• Mindstrong Health (US)
• 2Morrow (US)
• Ginger (US)
• BehaVR Inc., (US)
• Mindable Health (Germany)
• Virta Health (US)
• Hinge Health (US)
• Doktor.se (Sweden)
This report provides a study of the digital therapeutics market. It aims at estimating the size and future growth potential of the market across different segments, such as sales channel, application, and region.The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of revenue numbers for the overall digital therapeutics market and its subsegments.This report will also help stakeholders understand the competitive landscape, gain insights to position their business,and make suitable go-to-market strategies.
It will also enable stakeholders to gauge the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p04027699/?utm_source=GNW
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