Digital Therapeutics Market Analysis Report By Application, By End-use And Segment Forecasts From 2021 To 2028

Synopsis

The global digital therapeutics market was prized by USD 3.5 billion in 2020. It is estimated to witness 23.1% CAGR from 2021 to 2028.

Drivers

The continually altering digital background has initiated better alertness between the common public. Besides, the market fordigital therapeutics is directed by speedy technical progressions as well as the increasing commonness of the chronic sicknesses.

The augmented knowledge of the end-users, headed by the acceptance of digital procedures and solutions, is likely to boost the market. The end user mindsets are estimated to carry on moving towards digital health and therefore will their demand for attractive, easily reached, and custom-made solutions.

The rising usage of internet and smart phone between the persons is an additional important technical driver of the market for digital therapeutics (DTx). As per the India Cellular and Electronics Association report, published in July 2020, India is the highest increasing application market in the world. In 2019, the nation had 500 million smart phone users and this figure is expected to arrive at 829 million, by 2022.

Mental fitness is one more driver, which is expected to promote the enlargement of the market. The pandemic strengthens the challenges of mental healthiness and revealed the necessity for innovative treatment alternatives. This situation offers enormous openings for the digital therapeutics companies.

Effect of Covid-19

The eruption of Covid-19 pandemic, considerably affected the digital therapeutics market. The appearance of requirement for suitable as well as reachable digital fitness solutions is the most important Covid-19 associated driver for the market.

COVID19 digital therapeutics market impact: exponential growth of 19% from 2019 to 2020

The FDA published guiding principles, in April 2020. It declared that it will permit circulation and usage of digital therapeutic health apparatuses, designed for the mental fitness complaints, during the period of pandemic.

Therefore, suppliers are capable of commercialize their solutions, with no meeting the terms of standard authoritarian necessities, provided these apparatuses do not generate an unnecessary hazard, considering the public fitness crisis.

Application Insight

The diabetes section detained the major, above 28.0% revenue share and led the digital therapeutics (DTx) market, in 2020. The section is anticipated to witness the highest augmentation, throughout the forecast period. This development is triggered by the increasing rate of diabetes in the international populace.

Consistent with the International Diabetes Federation (IDF), 463 million persons existed with diabetes, in 2019. This figure is projected to arrive at 700 million by 2045. This is likely to enhance the demand for associated digital therapeutics resolutions. For example, patients affected by diabetes necessitate effectual administration, help and education to deal with indications similar to polyphagia, polyuria, and polydipsia, along with the medicine reminders.

The obesity section is expected to grasp the subsequent major share of the market. As indicated by CDC’s National Center for Health Statistics predominance of obesity in the U.S. in 2017-2018 was 42.4%. This rising figure is estimated to stimulate the enlargement of the section.

End Use Insight

The patients section detained the major, above 32.0% revenue share and led the digital therapeutics market in 2020. It is projected to record the maximum CAGR, for the period of the forecast. The patients are most important consumer of therapeutic healthcare programs as well as functions. By way of growing figure of the patients, stricken by chronic circumstances, the requirement for digital therapeutics is rising.

Then again, expansion of the providers section can be credited to increasingly leveraging digital therapeutics to provide and take care of the treatments that are clinically established, over and above present dependable patient appointment.

Besides, the payers are, gradually more, paying attention in dealing with the digital therapeutics, and the section possesses a lot of possibility for the expansion. Payers are positive to take on lead by business representation, which makes possible the devotion and augment effectiveness at the same time dropping overheads.

Regional Insight

In 2020, North America detained leading, above 41.0% share of the global digital therapeutics market. This enlargement is credited to increasing pervasiveness of chronic fitness problems, strong healthcare infrastructure, growing government lead, and the existence of major companies.

The U.S. FDA circulated guiding principles to enlarge the accessibility of digital fitness therapeutic apparatuses, designed for the psychiatric circumstances.

Together with this, the FDA proposed to help persons; those were going after orders for home quarantine or committed to social distancing, with no necessity for going clinic, throughout the communal fitness crisis of Covid-19. This would, furthermore, relieve load on healthcare amenities in addition to decrease the threat of contact with the virus.

The market in Asia Pacific is projected to record the highest enlargement percentage, during the forecast period, because of the two most important factors, speedy digitization along with urban development and a huge as well as relatively younger people source, which can change into a gigantic target source.

Besides, continuous improvement in the nations to deal with the need of appropriate infrastructure, along with keep up sustainable development by means of fiscal addition, is likely to advantage the market for digital therapeutics.

As stated by the report, published in 2020, by India Cellular and Electronics Association, 97.0% national users contact the internet by means of mobile devices because of the factors like a variety of Government schemes, growth in the figure of rustic users, better affordability of mobile data and decreased prices of smart phone.

Companies

By means of standardized characteristics, the digital therapeutics is in niche phase, at present. The major companies are concentrating on presenting optimal client importance on an active stage.

Some of the companies for digital therapeutics market are:

• Noom Health, Inc.
• Twine Health, Inc.
• Propeller Health
• 2Morrow, Inc.
• Omada Health, Inc.
• Mango Health, Inc.
• Canary Health, Inc.
• Pear Therapeutics
• Livongo Health
• WellDoc, Inc.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this report, Million Insights has segmented the global digital therapeutics market report on the basis of application, end-use, and region:

• Application Outlook (Revenue, USD Million, 2016 - 2028)
    • Diabetes
    • Obesity
    • CVD
    • CNS Disease
    • Respiratory Diseases
    • Smoking Cessation
    • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2028)
    • Patients
    • Providers
    • Payers
    • Employers
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
        • Argentina
    • MEA
        • South Africa
        Saudi Arabia