PLEASANTON CA, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Digital Therapeutics Market by Applications (Preventive (Prediabetes, Nutrition, Obesity, Lifestyle Management), Treatment/Care (Diabetes, Cardiovascular, Chronic Respiratory Disorders, Gastrointestinal Disorders, Rehabilitation), by Sales Channel (Patient, Caregiver, Employer, Providers, others) and Global Forecasts 2017 to 2027 published by AllTheResearch, features an analysis of the current and future scenario of the global Digital Therapeutics Industry.
Global Digital Therapeutics Market Size is expected to reach US$ 14.3 Bn by 2027, with a growing CAGR of 21.3% during the forecast period (2020-2027).
The report overview includes studying the market scope, leading players like Noom, Livongo Health, Omada Health, Pear Therapeutics, Proteus Digital Health, Propeller Health, Mango Health, Akili Interactive Labs, Better Therapeutics, Happify, Kaia Health, WellDoc, and Click Therapeutics.
Digital Therapeutics Market Recent News:
- In June 2021, Epillo Health System launched EHR system for clinics and pharmacies and mobile app to the patients which provides medical reports and prescriptions. It is web-based INTRx Clinical system helps to manage patients' health, lab/diet reports and monitors diseases. It also helps to manage finances and appointments.
- In June 2021, an India based digital therapeutic company, Fitterfly, launched digital recovery programme for diabetic patients who contracted COVID-19, which helped patients to contact with their family and groups, virtual discussions.
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COVID-19 Impact on the Digital Therapeutics Market Analysis
Digital therapeutics industry is focusing on developing high quality of healthcare products using advanced technology. During the outbreak of Covid-19, FDA generated guidelines, stating permission for the distribution, supply and use of digital therapeutic devices for the treatment of various disorders. This created an opportunity and led to increase in demand for the therapeutic devices across the world. Due to incidence of the coronavirus, this created awareness and alertness regarding importance of health management using digital therapeutic products.
Digital therapeutics helps to deliver medical therapies or treatments directly to the patients using scientific reports, clinically evaluated software used to treat patients, their management and used for the prevention of chronic diseases or disorders. Digital therapeutics products have the same set of standards and regulations as that of traditional medicinal products and treatments. Digital therapeutics must follow some of the core values like product safety, patient centricity, privacy, quality, and ongoing clinical trials impact on the product.
Also, Digital therapeutics helps to reduce the gaps between technology and the patients by delivering treatments or therapies through smartphones or tablets, by increasing patient access to the safety and effectiveness associated with the treatments, presentation of information in different languages, providing relevant information related to the diseases and treatments and expanding physicians' ability to care for patients. There is increase in demand for the digital therapeutic products with rise in adoption and acceptance of smartphones and tablets for healthcare delivery system across the globe.
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Digital Therapeutics Market Analysis by Key Segments
Digital therapeutics is broadly segmented based on applications, sales channel, and region. Based on the applications, the market is segmented into prediabetes, nutrition, obesity, lifestyle management, diabetes, cardiovascular, chronic respiratory disorders, gastrointestinal disorders, and rehabilitation. Diabetes held the largest market share in year 2020. This is due to rise in diabetic population across the world and patients requires effective diseases management which boost the growth of digital therapeutics market growth.
Further, based on sales channel, in caregiver channel accounted for largest share of digital therapeutics market and providers segment is expected to grow with highest CAGR in coming years. Geographically, North America dominated the digital therapeutics market in year 2020 and it is expected to expand more during the forecast period. Presence of advanced technology, developed healthcare infrastructure, and rising chronic diseases surge the demand for digital therapeutics market.
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