Portland, OR, Feb. 25, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global digital therapeutics industry generated $2.24 billion in 2018, and is estimated to garner $9.64 billion by 2026, registering a CAGR of 19.9% from 2019 to 2026. The report provides an extensive analysis of the market dynamics including drivers & restraints, major winning strategies, market size & projections, competitive landscape, and major segments.
Increase in healthcare apps, rise in incidence of chronic diseases, and requirement to manage healthcare costs drive the global digital therapeutics market. However, lack of awareness in developing countries and concerns related to data privacy of patients hamper the market growth. On the other hand, increase in acceptance of tablets & smartphones and untapped potential in emerging economies create new opportunities in coming years.
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Based on application, the market is segmented into diabetes, obesity, cardiovascular disease, central nervous system disease, respiratory disease, smoking cessation, gastrointestinal disorder, and others. The diabetes segment held the highest market share in 2018, contributing to more than one-fifth of the global digital therapeutics market, and is estimated to maintain its leadership position during the forecast period. However, the obesity segment is estimated to register the highest CAGR of 22.5% from 2019 to 2026.
Based on product, the market is bifurcated into software and devices. software segment accounted for the largest market share in 2018, accounting for nearly two-thirds of the global digital therapeutics market, and is expected to continue its lead status by 2026. In addition, this segment is expected to grow at the highest CAGR of 20.0% during the forecast period.
Region wise, the digital therapeutics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North America region contributed for the major market share, accounting for around half of the total share of the global digital therapeutics market in 2018, and is projected to maintain its highest contribution during the forecast period. On the other hand, the market across the Asia-Pacific region is estimated to register a CAGR of 21.7% from 2019 to 2026.
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Key market players analyzed in the research include Proteus Digital Health, Inc., 2MORROW, Inc., Omada Health, Voluntis, Inc., Welldoc, Inc, Fitbit, Inc. (Twine Health, Inc.), Medtronic Plc., Inc., Pear Therapeutics, Inc., Resmed, Inc. (Propeller Health), and Livongo Health, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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