Portland, OR, April 07, 2021 (News) — As per the report, the global Digital Therapeutics Market was pegged at $2.88 billion in 2019, and is projected to reach $13.80 billion by 2027, growing at a CAGR of 20.5% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and fluctuating market trends.
Increase in implementation of smartphones and tablets along with healthcare apps, surge in incidences of chronic diseases, and growth in need to control healthcare costs propel the growth of the global digital therapeutics market. On the other hand, lack of awareness regarding digital therapeutics in emerging economies and concerns regarding data privacy restrain the growth to certain extent. Conversely, emerging markets across developing countries are anticipated to usher a number of opportunities in the future.
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- The COVID-19 outbreak has disrupted the global healthcare system. This, in turn, has increased the demand for apps and services for medical intervention and to enhance lifestyle.
- During the period of lockdown, health associations have majorly focused on spreading awareness regarding the significance of digital health.
The global market is segmented on the basis of application, product type, sales channel, and region. Based on application, the diabetes segment dominated the market in 2019, accounting for nearly one-fourth of the global market. In addition, the segment is anticipated to maintain its dominance throughout the forecast period. However, the obesity segment is expected to manifest the highest CAGR of 23.2% during the forecast period. The report also involves segments including cardiovascular disease, central nervous system disease, respiratory disease, smoking cessation, gastrointestinal disorder, and others
Based on sales channel, the market is bifurcated into business to consumers and business to business. The business to consumers segment accounted for the largest share in 2019, contributing to nearly three-fifths of the total market share. At the same time, the segment is estimated to register the highest CAGR of 21.3% in between 2019 to 2027.
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Based on region, the global market across North America held the lion’s share in 2019, accounting for nearly half of the total revenue. The region, furthermore, is anticipated to dominate the market throughout the forecast period. On contrary, the global digital therapeutics market across Asia-Pacific is projected to manifest the highest CAGR of 22.2% during the forecast period.
Major market players in the report involves 2MORROW, Inc., Akili Interactive Labs, Inc., Click Therapeutics, Inc., Fitbit, Inc. (Twine Health, Inc.), Happify, Inc., Kaia Health, Livongo Health, Inc., Medtronic Plc., Omada Health, Inc., Pear Therapeutics, Inc., Proteus Digital Health, Inc., Resmed, Inc. (Propeller Health), Voluntis, Inc., Welldoc, Inc.
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