Portland, OR, Sept. 01, 2022 (GLOBE NEWSWIRE) -- The global Digital Therapeutics Market generated $3.84 billion in 2021, and is projected to reach $22.60 billion by 2031, registering a CAGR of 19.4% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.84 billion |
| Market Size in 2031 | $22.60 billion |
| CAGR | 19.4% |
| No. of Pages in Report | 300 |
| Segments covered | Product, Sales Channel, Application, And Region |
| Drivers | Increase in the standard of living |
| Growth of the online healthcare applications | |
| Opportunities | Rise in internet penetration across the globe |
| Increase in cases of chronic diseases, especially among the older population | |
| Restrains | Lack of knowledge about digital therapies |
| Patient data privacy issues |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a positive impact on the growth of the global digital therapeutics market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the cancellation and temporary postponement of various appoints, surgeries, and consultations as more and more healthcare professionals across the globe were increasingly inclined and focused on treating COVID-19-infected patients on a priority.
- Thus, patients switched to digital therapeutics to get necessary health from certified professionals at home through smartphones, tablets, or computers.
- Apart from that, prevalence of unhealthy lifestyles, lack of physical fitness, and increase in chronic diseases among people subsequently surged the demand and importance of digital health among people.
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The report offers a detailed segmentation of the global digital therapeutics market based on product, sales channel, application, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest growing segments and highest revenue generation that is mentioned in the report.
Based on product, the software segment held the largest market share in 2021, garnering more than two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 19.8% during the forecast period.
Based on sales channel, the business-to-consumers segment held the dominating market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 20.1% during the forecast period.
Based on application, the diabetes segment held the largest market share in 2021, holding more than one-fourth of the global market, and is expected to maintain its leadership status during the forecast period. The central nervous system diseases segment, on the other hand, is expected to cite the fastest CAGR of 22.2% during the forecast period.
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Based on region, the market across North America held the lion’s share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The Europe region, on the other hand, is expected to cite the fastest CAGR of 21.5% during the forecast period.
The key players analyzed in the global digital therapeutics market include 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 report analyzes these key players in the global digital therapeutics market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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