New York, USA, Jan. 02, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global digital therapeutics market. As per the report, the market is projected to hit $12,695.60 million, growing at a CAGR of 20.0% in the estimated period, 2021–2028. This all-inclusive report delivers a comprehensive overview of the current and future situation of the digital therapeutics market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players gain insight into the global market's status.
Impact of the COVID-19 Pandemic on the Digital Therapeutics Market:
The outbreak of the coronavirus pandemic has optimistically impacted the growth of the global digital therapeutics industry. During the pandemic period, many patients from various parts of the world adopted digital mode of healthcare treatments & services to prevent physical contact with doctors and other patients and stop the spread of the virus. Furthermore, numerous digital healthcare organizations took substantial initiatives to deliver digital therapeutic services during the pandemic. This significantly fostered the growth of the global market during the disaster period.
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Factors Influencing the Digital Therapeutics Market:
The rising cases of chronic as well as lifestyle-related ailments such as diabetes and mental disorders amongst the young population is boosting the growth of the global digital therapeutics market. Additionally, growing developments and enhancements by leading market players is expected to unlock rewarding opportunities for market growth in the projected period. However, the lack of knowledge about the efficiency and usability of digital therapeutics amongst people is predicted to obstruct the growth of the market.
The report segments the global digital therapeutics market into product, application, and region.
Software Sub-Segment to Perceive Swift Growth
The software sub-segment of the product segment is projected to undergo speedy growth and hit $8,385.10 million in the forecast period. This growth is mostly because digital therapeutics software can be easily and quickly installed on a patient’s smartphone and is an ideal solution for patients who need continuous monitoring of their health and disorder.
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Diabetes Sub-Segment to Witness Maximum Growth
The diabetes sub-segment of the application segment is expected to hold the highest market share and surpass $2,543.60 million in the forecast period. This growth is mainly because of the rising number of diabetic patients who require constant medical care and assistance.
Asia-Pacific Digital Therapeutics Market to Perceive Accelerated Growth
The report analyzes the global digital therapeutics market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia Pacific region market is expected to grow rapidly and hit $2,069.40 million during the estimated timeframe. The growth of the regional market is mainly owing to the growing developments and investments in innovative healthcare services, such as digital therapeutics, to treat various diseases that are prevalent among people in the region.
Major Players in the Market:
The report lists some of the leading players functioning in the global digital therapeutics industry including
- Better Therapeutics
- Noom
- WellDoc
- Propeller Health
- Livongo Health
- Omada Health
- Proteus Digital Health
- Akili Interactive Labs
- Happify
- Pear Therapeutics
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry.
For instance, in July 2022, AmerisourceBergen, a global pharmaceutical sourcing and distribution services company, launched a digital therapeutics platform, DTx Connect, to offer a completely integrated ordering, dispensing, and fulfillment platform to offer access to physician-ordered digital therapeutics and diagnostics to patients.
More about Digital Therapeutics Market:
- 3 Novel Applications of Digital Therapeutics That’ll Surprise You
- Exploring Digital Therapeutics: A Solution for the Geriatric Population
- Global Digital Therapeutics Industry Growth to Skyrocket with the Rising Need for Advanced Healthcare Services
