Digital Therapeutics Market to Grow Exponentially due to the Rise in Chronic Disease Prevalence
The global Digital Therapeutics market is valued at USD 3.16 Billion in 2021 and is projected to attain a value of USD 14.52 Billion by 2028 at a CAGR of 28.1% during the forecast period, 2022–2028.
- (1888PressRelease) March 02, 2022 - Market Synopsis:
The global Digital Therapeutics market is valued at USD 3.16 Billion in 2021 and is projected to attain a value of USD 14.52 Billion by 2028 at a CAGR of 28.1% during the forecast period, 2022–2028. The general public has become more conscious of the continuously shifting digital scene. Furthermore, the market is fueled by rising chronic disease prevalence and rapid technological improvements. End-user awareness is predicted to rise as a result of the use of digital devices and solutions, propelling the industry forward. Consumer attitudes toward digital health are predicted to continue to alter, as will their demand for accessible, personalized, and engaging medical solutions.
Key Findings:
The diabetes segment held a significant share in 2021. This is attributable to the rising incidence of diabetes across the globe due to the rise in hypertension, prevalence of obesity, alcohol consumption, immigration, and urbanization in most of the economies.
The patients’ segment is expected to grow at a considerable Compound Annual Growth Rate (CAGR) during the forecast period. Patients are considered to be the major users of therapeutic healthcare programs and applications. As the percentage of patients that are suffering from chronic conditions is increasing, the demand for digital therapeutics is also increasing.
Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. This is attributable to the presence of a large and comparatively younger population base in economies like India, and China along with rapid urbanization and digitization in the region. Furthermore, the increased affordability of mobile data is also anticipated to support the regional growth of the market.
Market Segmentation:
The Global Digital Therapeutics Market can be segmented by Application into Diabetes, Obesity, CVD, CNS Disease, Respiratory Diseases, Smoking Cessation, and Others. Based on End User into Patients, Providers, Payers, Employers, and Others. Based on Region, the Digital Therapeutics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The Digital Therapeutics market is segmented as follows:
Application
Diabetes
Obesity
CVD
CNS Disease
Respiratory Diseases
Smoking Cessation
Others
End-Use
Patients
Providers
Payers
Employers
Others
Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players:
Key industry contributors include Omada Health Inc. (US), WellDoc Inc. (US), 2Morrow Inc (US)., Livongo Health (US), Propeller Health (US), Pear Therapeutics (US), Canary Health Inc. (US), Noom Health Inc. (US), Mango Health Inc. (US), Akili Interactive Labs (South Africa), Better Therapeutics (US), Happify Health (US), Kaia Health (US), Medtronic Plc. (Ireland), Teladoc Health Inc (US), and Fitbit Health Solutions (US).
https://www.vantagemarketresearch.com/industry-report/digital-therapeutics-market-1327
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