2021 Digital Therapeutics Market is Booming: Who is Making Money, Who is Paying the Price?

(Heraldkeepers via Comtex)

The Digital therapeutics market size is projected to reach USD XX Million by 2026, from USD XX Million in 2020 growing at a CAGR of 31.9% during 2021-2026. The research covers the current and historic autonomous vehicles market size and its growth trend with company outline of Key players/manufacturers: Noom (US), Livongo Health (US), Omada Health (US), WellDoc (US), Pear Therapeutics (US), Proteus Digital Health (US), Propeller Health (US), Akili Interactive Labs (US), Better Therapeutics (US), Happify (US), Kaia Health (Germany), Mango Health (US), Click Therapeutics (US), Canary Health (US), Wellthy Therapeutics (India), Cognoa (US), Ayogo Health (Canada), Mindstrong Health (US), 2Morrow (US), Ginger (US) BehaVR (US), Mindable Health (Germany), Virta Health (US), Hinge Health (US), and Doktor.se (Sweden).

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This global Digital Therapeutics market report identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the industry with analysis on vendors, geographical regions, types, and applications. This Digital Therapeutics market study estimates the market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. This report proves to be an indispensable document for every market enthusiast, policymaker, investor, and player. This global Digital Therapeutics market research report is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis.

With the effectual use of technology, innovative applications and expertise, this Digital Therapeutics market research report has been generated which successfully manages bulky and complex market data tables. To give clear idea about the current and future marketplace, most up to date market insights and analysis has been offered via this report. Several critical market factors covered in this Digital Therapeutics Market report consist of primary research, benchmarking studies, secondary research, company profiles, competitive intelligence & reporting, syndicated research, data collection, data processing and analysis, survey design, and survey programming. Market research report execution is becoming very central for the businesses to gain success because it offers insights into revenue growth and sustainability initiative.

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Restraints: Patient data privacy concerns

In many countries, various health apps are deprived of appropriate approvals, leading to concerns of product & data quality, reliability in treatment decisions, patient privacy, security, and the responsible use of data. Digital therapeutics providers have access to patient information and are forbidden from sharing the information with anyone not involved in treating that patient. However, with the integration of data using digital tools, the patient's data is at risk of being accessed by any healthcare professional not related to the patient's treatment program.

Some countries, such as the US (with its Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health (HITECH) Act), have legislation focusing on the issue of data security. However, despite such federal initiatives, digital therapeutics users are subject to infringement and data breaching, which may restrain the growth of the digital therapeutics market.

Opportunities: Emerging markets

Emerging economies such as India, China, and the Middle East present growth opportunities for digital therapeutics. In most geographies, the market is still in its infancy due to a lack of awareness, the minimum availability of these solutions, lack of IT infrastructure, and financial and social constraints. On the other hand, most emerging economies show high rates of chronic disease incidence. According to WHO estimates, by 2020, chronic diseases will be responsible for 70% of the total deaths in developing countries. On the global level, by 2025, ~60% of the burden of chronic conditions will be in developing countries.

In addition, the lack of skilled medical practitioners in developing regions highlights the importance of connected healthcare. Furthermore, developing countries like India and China lack proper standards and government regulations for digital health solutions, which offer huge potential to providers who cannot meet stringent standards set by the federal government in the US. The patient-doctor ratio in these regions is also significantly high, necessitating alternative healthcare solutions.

These countries have also registered widespread adoption of smartphones and related technologies due to their growing affordability. Globally, China and India are the top two countries in terms of smartphone ownership. Furthermore, the increasing access to smart devices and the Internet has encouraged the development of health apps. In addition, government bodies in these regions are taking initiatives to improve HCIT infrastructure. For instance, in its five-year plan from 2015 to 2020, China aimed to improve healthcare quality by implementing HCIT solutions.

Recent Developments:

In April 2021, Welldoc(US) partnered with Dexacom (US). This partnership helped provide BlueStar with Dexcom G6 CGM as a single platform to people with Type 2 diabetes for improved health.

In March 2021, Pear Therapeutics (US) partnered with Sprectrum Health Systems (US). Tufts Health Plan and Spectrum Health Systems announced a collaboration with Pear Therapeutics to test FDA-approved digital therapeutics to help people with substance use disorders and improve their recovery journeys by delivering solutions for improved treatment access and care innovation journeys by delivering solutions for improved treatment access and care innovation

In January 2020, Crossroads Treatment Centers (US) collaborated with Pear Therapeutics (US) to implement the company's digital platform reSET-O to help patients with opioid abuse and addiction.

Major Classifications are as follows:

Digital Therapeutics Market: By Technology

Digital Health
Big Data
Internet of Things

Digital Therapeutics Market: By Product

Video/VR/AR
Sound
Web
Chatbot

Digital Therapeutics Market: By Geography

Europe
Germany
France
United Kingdom
Italy
Rest of Europe
Asia-Pacific
Japan
China
South Korea
India
Australia
Rest of Asia Pacific
North America
U.S.
Canada
South America
Brazil
Argentina
Rest of South America
Rest of the World
Middle East
Africa

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Digital Therapeutics Market : Report Chapters

Chapter 01 - Executive Summary

Chapter 02 - Market Overview

Chapter 03 - Key Market Trends

Chapter 04 - Key Success Factors

Chapter 05 - Global Digital Therapeutics Market – Pricing Analysis

Chapter 06 - Global Digital Therapeutics Market Demand (in Value or Size in US$ Mn) Analysis and Forecast, 2021-2026

Chapter 07 - Market Background

Chapter 08 - Global Digital Therapeutics Market Analysis () & Opportunity Assessment , By Product Type

Chapter 09 - Global Digital Therapeutics Market Analysis & Opportunity Assessment , by Distribution Channel

Chapter 10 - Global Digital Therapeutics Market Analysis & Opportunity Assessment , by Region

Chapter 11 - North America Digital Therapeutics market Analysis & Opportunity Assessment

Chapter 12 - Latin America Digital Therapeutics Market Analysis & Opportunity Assessment

Chapter 13 -Europe Digital Therapeutics market Analysis & Opportunity Assessment

Chapter 14 - East Asia Digital Therapeutics market Analysis and Forecast

Chapter 15 - South Asia Digital Therapeutics market Analysis and Forecast

Chapter 16 - Oceania Digital Therapeutics market Analysis and Forecast

Chapter 17 - MEA Digital Therapeutics market Analysis & Opportunity Assessment

Chapter 18 - Market Structure Analysis

Chapter 19 - Competition Analysis

Chapter 20 - Assumptions and Acronyms Used

Chapter 21 - Research Methodology

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