Digital therapeutics market Anticipated to Witness High Growth in the Near Future

Pune, India, 2020-Jun-02 — /EPR Network/ —

Rising healthcare costs, the growing prevalence of chronic diseases, and the ability of digital therapeutics to provide cost-effective solutions are some factors responsible for driving the market for treatment/care-related digital therapeutics applications.

What the digital therapeutics Market Looks Like?

The global digital therapeutics market is projected to reach USD 6.9 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 26.7% during the forecast period (2020–2025).

The growth of the digital therapeutics market is primarily driven by factors such as government initiatives for preventive healthcare, technological advancements in mobile healthcare, a significant increase in venture capital investments, and the benefits of digital therapeutics, such as the ability to induce behavioral change (an important challenge in healthcare), user-friendliness, patient convenience, and improved drug compliance.

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The Digital Therapeutic (DTx) Market is Segmented on:

1. Application
2. Sales Channel

B2B segment is expected to grow at the highest CAGR during the forecast period
Based on the sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B). In 2019, the B2B segment accounted for the largest market share; it is also expected to grow at the highest CAGR of the digital therapeutics market.

Caregivers segment is expected to dominate the market
Based on the type of buyer, the B2C sales channel market is further segmented into patients and caregivers. The caregivers segment is expected to dominate the market and register the highest CAGR during the forecast period. The high growth of this segment is attributed to company initiatives for the development of products specifically for caregivers and the fact that digital therapeutics help caregivers in better managing their patients.

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Key players in the digital therapeutics market :

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), and Ginger (US).​​​​​​​

Omada (US): Omada Health is a pioneer in the field of digital therapeutics. The company has attracted significant investments to enhance its solutions, particularly its digital prediabetes program ‘Prevent.’ In June 2019, the company secured USD 73 million from its investors for the development of digital care health programs focusing on preventable chronic conditions.