A
research study titled, “Digital Therapeutics Market by Application and End User -
Global Industry Analysis and Forecast to 2025” published by Crystal Market
Research, states that the digital therapeutics market is projected to be around
$9 billion by 2025.
Digital
therapeutics is a sub division of healthcare that uses advanced technologies
such as apps, devices or software that offers range of online healthcare
services as to treat various medical conditions. Digital therapeutics is a high
revenue market which involvesuse of telemedicine technology for monitoring and
providing better healthcare treatments to patients. The program operates
between healthcare providers and patients through web and phone interactions
which enable healthcare providers to deliver effective consultation to
patients.Digital therapeutics market is expected to witness high growth during
forecast period owing to number of factors such as increase in geriatric
population that require home healthcare services, rise in incidence of chronic
diseases, increase in demand for cost effective healthcare infrastructure, high
adoption rate of technologically advanced products, high investments from
various institutes and government initiatives for development and
commercialization of digital therapeutics medicines.
Preventive
application segment is projected to grow at fastest rate during the forecast
period due rise in demand for prescreening & detection techniques and
increase demand for telemedicine. Diabetes market is expected to grow with
fastest CAGR during the forecast period due to high prevalence of diabetes and
large scale use of mHealth by practitioners to treat diabetes. According to the
University of Florida Diabetes Institute, there are more than 1,000 android and
iOS apps specifically designed for diabetes diagnosis and monitoring.
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full research report with TOC @: https://www.crystalmarketresearch.com/report/digital-therapeutics-market
U.S. dominates the North American digital
therapeutics market due to growing prevalence of chronic diseases coupled with
increasing geriatric population and high adoption of technologically advanced
devices. Emerging market such as India and China are poised to witness
favorable growth over the forecast period due to rising awareness about digital
therapeutics solutions and increasing focus on advancement in healthcare
infrastructure in the region. Entrance of global players in these emerging
markets will further boost the market growth. For instance, in March 2017,
WellDoc, Inc. in association with Max Healthcare and International Finance
Corporation launched the WellDoc’s BlueStar mobile application in India to
improve diabetes care.
The
companies operating in the global digital therapeutics market emphasize on
product development coupled with technological advancements to secure
competitive advantage in the market. For instance, in May 2015, Mango Health
launched a suite of new Mango Health Habit Features integrated with the Google
Fit health tracking platform.
Some
of the major players in this market are 2Morrow, Inc., Livongo Health,
Propeller Health, Proteus Digital Health, Omada Health, Inc., WellDoc Inc.,
Twine Health, Inc., Canary Health, Inc., Mango Health, Inc. and Noom, Inc.
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Key
Findings of the Research Study:
- Diabetes
market is expected to grow at a fastest CAGR over the forecast period due
to a rise in the global prevalence of diabetes.
- Preventive
market segment is expected to witness highest growth during forecast
period due to increase in demand for early detection and prevention
techniques.
- North
America held the largest share of the global digital therapeutics market
in 2016, owing to the presence of numerous digital therapeutics providers
in the region focusing on technological advancements and high adoption of
advanced medical solutions.
- In 2016,
Europe accounted for the second largest share owing to increase
implantation of telemedicine for better disease care.
- Asia-Pacific
is expected to witness highest growth over the forecast period,due to
increasing prevalence of diabetes, rise in demand for cost effective
healthcare services and huge investments to support research and
development for commercialization of digital therapeutic medicines.
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now this report @: http://www.crystalmarketresearch.com/checkout/HC0629
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