Coronavirus’ business impact: Digital Therapeutic (DTx) Market 2020 Research by Business Analysis, Strategy and Industry Development to 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.

•  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).

Digital Therapeutic (DTx) Market by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel (B2C, Patient, Caregiver, B2B, Providers, Payer, Employer, Pharma) – Global forecasts to 2025

What Drives the Digital Therapeutic (DTx) Market?

The growth of the global market for Digital Therapeutic (DTx) Market is primarily influenced by the following factors:

1. Increasing incidence of preventable chronic diseases
2. Rising focus on preventive healthcare
3. Need to control healthcare costs
4. Significant increase in venture capital investments
5. Benefits of digital therapeutics : Ability to induce behavioral change, Improved drug adherence & Patient convenience and user-friendliness

Based on the sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2. 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. There is growing awareness among providers, payers, and employers about the benefits provided by digital therapeutics and the healthcare cost reductions achieved by their use.

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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.

Which geographical region is dominating the global DTX Market?

1. North America
2. Europe
3. Asia-Pacific
4. Rest of the World (RoW)

The global digital therapeutics market is segmented into North America, Europe, the Asia Pacific, and the RoW. In 2019, North America (US and Canada) held the largest share of the market, followed by Europe. The major factors supporting market growth include the increasing investments in digital therapeutics, the influx of new start-ups, improvements in the reimbursement structure for digital therapeutics, and government initiatives to support technological advancements.

Who are the key players operating in the global DTx market?

• The prominent players in the digital therapeutics market are 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. 

Key Questions Addressed by the Report : 

• Where will these developments take the industry in the mid to long-term?
• What types of annual and multi-year partnerships are companies in the digital therapeutics market exploring?
• Who are the key players in the market, and how intense is the competition?
• What are the recent contracts and agreements that key players have signed?
• What are the recent trends affecting digital therapeutics market players?

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