Global Digital Therapeutic (DTx) Market is expected to grow at a CAGR of 21% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Digital Therapeutic (DTx) Market by Application (Gastrointestinal Disorder, Smoking Cessation, Respiratory Disease, Central Nervous System Disease, Cardiovascular Disease, Obesity, Diabetes), Sales Channel (Business-to-Consumer, Business-to-Business), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global digital therapeutics (DTx) market is expected to grow from USD 3.01 billion in 2019 to USD 13.83 billion by 2027, at a CAGR of 21% during the forecast period 2020-2027. North-America has the largest share of digital therapeutics (DTx) market due to rise in the chronic diseases, increase in geriatric population, availability of sophisticated reimbursement structure and increase in demand for portable & wireless systems. The influx of start-ups is also contributing in the growth of the market. Moreover, technological advancements and innovations in the medical infrastructure and healthcare system, along with increased investments, are highly contributing in the market.
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Key players in the global digital therapeutics (DTx) market are Livongo Health, WellDoc, Proteus Digital Health, Akili Interactive Labs, Happify, Mango Health, Canary Health, Cognoa, Mindstrong Health, Ginger, Noom, Pear Therapeutics, Better Therapeutics, Click Therapeutics, Ayogo Health, Omada Health, Propeller Health, Kaia Health, Wellthy Therapeutics and 2Morrow. To tackle an increasing case of obesity among youth, Oxil has launched an app. To reduce obesity, Azumio provides fitness buddy mobile app. It offers the most extensive exercise database.
The application segment includes gastrointestinal disorder, smoking cessation, respiratory disease, central nervous system disease, cardiovascular disease, obesity and diabetes. Diabetes segment has the largest share in the digital therapeutics (DTx) market. And, It is expected to show the highest growth over the forecast period due to a high prevalence of diabetes. The demand for highest prevalence rate of diabetes and cost-effective healthcare option are driving the digital therapeutic market.
The sales channel segment includes business-to-consumer and business-to-business. Business-to-consumer is further divided into caregivers and patients. Business-to-business is further divided into Pharmaceutical Companies, Employers, Payers and Providers. The caregiver’s segment has mainly contributed to the growth of the business-to-consumer segment, and it is expected to show the highest growth in the forecast period. Companies are taking initiatives for caregivers by developing specific products, which results in driving the growth of this segment.
Digital therapeutic is mainly used in the treatment of chronic diseases, along with prevention and management. Digital therapeutic is based on a collection of digital data related to lifestyle and behavioural changes. Data is collected with digital methodology in order to track the progress and take preventive measures. It is supported by rigorous clinical evidence to consider a broad spectrum of behavioural, physical and mental conditions. The global digital therapeutics (DTx) market is driven by an increased adoption of tablets, smartphones and gadgets. Also, a rise in chronic diseases along with an increase in the cost of healthcare, is generating the demand for digital therapeutics (DTx) market.
About the report:
The global digital therapeutics (DTx) market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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