Market Analysis:  Global Digital Therapeutics Systems Market

Global Digital Therapeutics Systems Market is expected to rise from its initial estimated value of USD 198.03 million in 2018 to an estimated value of USD 1,365.70 million by 2026 registering a CAGR of 27.3% in the forecast period of 2019-2026. This rise in the market can be attributed to the rising geriatric population over the world and pro-active government policies to support the improvement and application of digital therapeutics solutions.

Few of the major market competitors currently working in global digital therapeutics market are Proteus Digital Health, Omada Health, Inc., WellDoc, Inc., 2Morrow Inc., Livongo Health, Propeller Health, Fitbit Health Solutions, CANARY HEALTH, Noom, Inc., Medtronic, Biogen, MindSciences, JINTRONIX, Virta Health Corp, and Dthera Sciences.

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Market Definition:  Global Digital Therapeutics Systems Market

Digital therapeutic is a technology based health solution. This is also known as software-as-a-drug. This system utilizes digital and online health technologies for the treatment of various medical and psychological conditions. This is basically a type of app which helps patients and physicians to constant monitor the health data by modifying patient behavior and provides remote monitoring in order to improve the patients long-term health problems. This is basically a digital system used in the treatment of medical conditions. This is a cost effective solution and also have the potential to improve patient engagement and bring substantial change in patient health. This treatment solution is basically used to help and mange long term medical conditions which include asthma, insomnia, and diabetes.

Market Drivers

Growing Focus on Preventive Healthcare is driving the market
Technological advancements in the industry will act as a major market driver

Market Restraints

lack of awareness among the population is restraining the growth
Patient data confidentiality concerns is another restraint for the market
Segmentation:  Global Digital Therapeutics Systems Market

By Product

Pain Management Devices
Rehabilitation Devices
Respiratory Therapy Devices
Insulin Pumps

By Application

Preventive
Pre Diabetes
Obesity
Smoking Cessation
Treatment/Care
Diabetes
Cardiovascular Diseases
Central Nervous System Disease
Respiratory Diseases
Musculoskeletal Diseases
Medication Adherence

By Sales Channel

Business-to-Consumer (B2C)
Patient
Caregiver
Business-to-Business (B2B)
Providers
Payers
Employers
Pharmaceutical Companies

By Geography

North America
US
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Turkey
Belgium
Netherlands
Switzerland
Rest of Europe
Asia-Pacific
Japan
China
South Korea
India
Australia
Singapore
Malaysia
Indonesia
Thailand
Philippines
Rest of Asia-Pacific
Middle East and Africa
South Africa
Egypt
Saudi Arabia
United Arab Emirates
Israel
Rest of Middle East and Africa

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Key Developments in the Market:

In September, 2018, Fitbit has launched Fitbit Care. Fitbit care is a wearable device which provides self-tracking and personalized digital solution to help improve disease management, prevention and wellness. This launch helps in the expansion of the company’s digital therapeutics market
In November, 2017, Propeller Health entered into a strategic partnership with and Express Scripts to provide Propeller’s FDA-cleared digital solution. This will help in strengthening the company position in the digital therapeutics market

Competitive Analysis:

Global digital therapeutics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of digital therapeutics market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.