Overview

Digital Therapeutics Market is estimated to value over USD 8.8 billion by 2027 end with a CAGR of over 26.5% during the forecast period 2020 to 2027.

Rise in the number of initiatives by government bodies for precautionary healthcare, advancements in technology in telemedicine and mobile healthcare, escalating investments by venture capitalists in digital therapeutics and a wide range of advantages of digital therapeutics like user friendliness, induction of behavioural change, improvements in the drug compliance and patient convenience are some of the factors responsible for the digital therapeutics market growth. However, a dearth of access and awareness regarding digital therapeutics programs in emerging nations, concerns over privacy of patient data, reluctance from traditional healthcare service providers in adopting digital therapeutics, and payment models that are unstable and unreliable are some factors that can possibly impede the growth of the market substantially. With a rise in the number of smartphone users, the adoption of digital therapeutics will be seamless producing multiple lucrative opportunities for market growth. Furthermore, digital therapeutics provide easy patient monitoring and tracking their vitals without any intervention. Such non-interventional and discrete service has persuaded people to accept a healthy and fit lifestyle for improving their physical well-being, thereby producing more growth opportunities for the market.

Digital Therapeutics Market

Market Segmentation:

By Sales Channel
• B2C
o Patients
o Caregivers
• B2B
o Providers
o Payers
o Employers
o Pharmaceutical Companies
o Other Buyers

By Application
• Preventive Applications
o Prediabetes
o Obesity
o Nutrition
o Lifestyle Management
o Other Preventive Applications
• Treatment/Care Related Applications
o Diabetes
o CNS Disorders
o Chronic Respiratory Disorders
o Musculoskeletal Disorders
o Cardiovascular Diseases
o Smoking Cessation
o Medication Adherence
o Gastrointestinal Disorders
o Substance Use & Addiction Management
o Rehabilitation & Patient Care
o Other Treatment/Care-related Applications

By Region
•   North America
•   Europe
•   Asia-Pacific
•   Latin America
•   Middle East and Africa

The market is categorised into sales channel, application and region. The sales channel segment is fragmented into B2C and B2B. The business-to-business segment is anticipated to hold the largest digital therapeutics market share and this can be attributed to increased awareness among payers, employers and providers regarding the advantages offered by digital therapeutics and the reduction in healthcare expenditure with its usage. In addition, there has been a rising preference of pharma companies in integrating their drug products with digital therapeutics, resulting in the proliferation of the segment. The application segment is bifurcated into preventive applications and treatment/care related applications. The diabetes sub-segment from the care related application segment is poised to lead the market in terms of generating revenue and this can be credited to the rising prevalence of diabetes. Additionally, the increased insistence for healthcare services that are cost effective shall people the proliferation of the market. Conversely, the obesity segment is anticipated to grow at a substantial rate during the forecasted timeframe and this can be credited to a rise in the number of overweight people, increased prevalence of appalling diseases like arthritis, cardiovascular disease with the occurrence of obesity. Moreover, an improves access to digital therapeutics shall assist the patients in maintaining their diets and in tracking regular physical activities and health data. For instance, Oxil in 2017 launched a mobile application for tackling obesity issues amongst the young population. The development of such applications shall bolster the augmentation of the market.

Regional Analysis:

The North America region is expected to lead the market and this is mainly due to an escalation in the influx of emerging players, improving reimbursement structure for digital therapeutics and rise in the number of initiatives undertaken by government bodies.

Competitive Landscape:

The prominent players of the market are Noom, Livongo Health, WellDoc, Pear Therapeutics, Omada Health, Proteus Digital Health, Propeller Health, Akili Interactive Labs, Better Therapeutics, Happify, Kaia Health, Mango Health, Click Therapeutics, Canary Health, Wellthy Therapeutics, Cognoa, Ayogo Health, Mindstrong Health, 2Morrow, Ginger.
Omada Health is one of the leading players in the digital therapeutics sector. Their digital prediabetes program named ‘Prevent’ has attracted multiple venture capital investments. They received over USD 70 million from its investors for developing digital healthcare programs emphasizing on preventing appalling conditions.

FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key market trends
• Key data-points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global digital therapeutics market by sales channel, by application and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
• To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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