The global digital therapeutics market is
expected to reach USD 9.3 billion by 2025, according to a new report by Grand
View Research, Inc. Digital therapeutics, known as software-as-a-drug, has
undergone significant developments, because of its cost-effectiveness and the
potential to influence human behavior - a challenge that is difficult to
overcome in healthcare. A shifting technological landscape worldwide has led to
significant boost in smartphone ownership and usage rates, which is anticipated
to impact the market positively. Other factors expected to influence growth of
the market are rising occurrence of chronic diseases, increasing attention on
preventive healthcare and an emerging need to control healthcare costs.
Digital therapeutics holds
exciting prospects in terms of unrealized potential. With a shift to
value-based, patient-centric healthcare system, and increasing reforms by the
government to cut down healthcare costs, it is anticipated that the market will
witness lucrative growth evident from a growing number of new startup companies
in the market. Although investments in the digital therapeutics field are
increasing, still application developers are dissuaded by the lack of
monetizing opportunities besides paid downloads and advertising. Furthermore,
developing countries are expected to have a lackluster response for digital
therapeutics due to lack of proper technological infrastructure and lack of
adequate research and development (R&D) and capital investments.
Browse full research report on Global Digital Therapeutics Market: http://www.grandviewresearch.com/industry-analysis/digital-therapeutics-market
Further key findings from
the study suggest:
- The diabetes segment has recorded strong growth owing to rise in prevalence of diabetes from 108 million in 1980 to 422 million in 2014, representing 8.5% of the population
- Obesity, another area of concern, has been acknowledged as a risk factor for the occurrence of many chronic diseases, such as osteoarthritis. Thus, the demand for health applications to counter obesity is expected to be high
- North America is a leading market due to high concentration of digital therapeutic companies in the region coupled with high burden of chronic diseases
- Asia Pacific is expected to exhibit fastest growth owing to a rapidly changing technological landscape and a huge target population density
- Some of the major key players are Proteus Digital Health, Inc.; Omada Health, Inc.; WellDoc, Inc.; 2Morrow, Inc.; Livongo Health; Propeller Health; and Twine Health, Inc.
Grand View Research has segmented the digital therapeutics
market on the basis of application, end use, and region:
Application Outlook (Revenue, USD Million; 2014 - 2025)
- Diabetes
- Obesity
- CVD
- CNS Disease
- Respiratory Diseases
- Smoking Cessation
- Others
End Use Outlook (Revenue, USD Million; 2014 - 2025)
- Patients
- Providers
- Payers
- Employers
- Others
Regional Outlook (Revenue, USD Million; 2014- 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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