Dublin, Jan. 31, 2022 (GLOBE NEWSWIRE) -- The "Digital Therapeutics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Digital Therapeutics Market to Reach US$12.1 Billion by the Year 2026
Global market for Digital Therapeutics estimated at US$2.6 Billion in the year 2020, is projected to reach a revised size of US$12.1 Billion by 2026, growing at a CAGR of 27.7% over the analysis period. B2B, one of the segments analyzed in the report, is projected to grow at a 28.8% CAGR to reach US$13.3 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the B2C segment is readjusted to a revised 19.2% CAGR for the next 7-year period. This segment currently accounts for a 12.9% share of the global Digital Therapeutics market.
Digital therapeutics (DTx), an emerging trend in the rapidly growing mobile health (mHealth) space comprises software programs that blend medical intervention with digital platforms for treatment of medical disorder or conditions. Digital therapeutics enables improved health monitoring, prevention and management leading to improved health outcomes and reduced healthcare expenditure.
With rising penetration of smartphones and internet usage, digital therapeutics can offer basic medical guidance, work in combination with drug regimens, use cognitive stimulation to induce behavioural changes, connect with wearables and medical equipment through the use of mobile apps.
Rising incidences of chronic diseases, growing geriatric population, technological advancements, benefits of digital therapeutics, and pressing need to curb rising healthcare costs are key growth drivers spurring significant growth in the global market. Strong adoption of digital platforms like smartphones, apps, electronic wearables, mobile internet; growing focus on value based care; and rising venture capital investments in digital health based business models spur growth in the market.
The momentum is likely to accelerate further with advent of next-generation technologies such as IoT and Artificial Intelligence (AI), as these `high-tech` modalities hold immense potential to augment roll out of DTx interventions as a complementary product or as a complete replacement to traditional therapeutics.
The U.S. Market is Estimated at $1.4 Billion in 2021, While China is Forecast to Reach $909.2 Million by 2026
The Digital Therapeutics market in the U.S. is estimated at US$1.4 Billion in the year 2021. The country currently accounts for a 41.8% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$909.2 Million in the year 2026 trailing a CAGR of 28.9% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.8% and 22.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 27% CAGR while Rest of European market (as defined in the study) will reach US$1.2 Billion by the end of the analysis period.
The United States and Europe represent key markets, led supported by well-developed digital infrastructure that provides the foundation for DTx. In Asia-Pacific region, growth is driven by rising prevalence of chronic illnesses and growing geriatric population.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Review of the World Economy in 2021
- COVID-19 Pandemic Expedites Implementation of Digital Therapeutics
- Prominent Drivers Enabling Digital Therapeutics Market to Leapfrog
- Digital Therapeutics: An Introduction
- Outlook
- Strategies to Push Uptake of Digital Therapeutics
- Leading Markets
- Factors Impeding Growth
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 108 Featured)
- Canary Health, Inc.
- Dthera Sciences
- Fitbit Health Solutions
- Livongo Health, Inc.
- Medtronic, Plc
- Omada Health, Inc.
- Propeller Health
- Pear Therapeutics, Inc.
- Proteus Digital Health, Inc.
- WellDoc, Inc.
3. MARKET TRENDS & DRIVERS
- Digital Therapeutics Continue to Attract Venture Capital Investments
- Startups Flock the Digital Therapeutics Market
- Select Digital Therapeutics Startups
- Pipeline Products Drive Growth Prospects
- Select FDA Approved DTx
- A Snapshot of Select DTx Pipeline Products
- Artificial Intelligence to Play a Significant Role in Improving Clinical Outcomes
- Why Healthcare & Pharmaceuticals are joining the Digital Therapeutics Bandwagon?
- Pharma Majors Foray into Uncharted Territory
- Pharmaceutical Companies Team Up with Payers to Seek Reimbursement
- Growing Need to Break the Stigma Associated with Mental Health Augurs well for Digital Therapeutics
- Select Mental Health Stats Worldwide
- Potential Areas for Digital Therapeutics
- Pandemic Pulls up Lever for Digital Mental Healthcare
- High Prevalence of Chronic Diseases and Growing Focus on Preventative Healthcare Widens Growth Opportunities
- Role of Digital Therapeutics in Type 2 Diabetes Reversal
- Growing Overweight and Obese Population Benefit Market Prospects
- Managing Heart Failure through Digital Interventions
- Neurological Conditions
- How Digital Therapeutics is Changing Oncology Care Landscape?
- Data Generation for Drug Development
- Proliferation of Smart Devices Bodes Well for Market Growth
- Mobile Healthcare Gains Momentum amid the Pandemic
- Delivery through Wearable Devices Holds Strong Potential
- Growing Focus on Reducing Healthcare Costs Bolsters Market Growth
- Digital Therapeutics Evolves as a Viable Solution for Medication Adherence
- Aging Population and their Vulnerability to Various Health Conditions: A Vital Growth Driver
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/saedwd
