New York, USA, March 21, 2022 (GLOBE NEWSWIRE) -- A new report on the global digital therapeutics market has been added by Research Dive to its repository. As per the report, the market is expected to garner $12,695.60 million by 2028, growing at a CAGR of 20.0% from 2021 to 2028. This report provides thorough insights into the present condition and future outlook of the global industry. The report is drafted by professional market analysts and assures to be a reliable source of data and detailed market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
Factors Impacting the Digital Therapeutics Market Growth:
The rising occurrence of chronic and lifestyle-related illnesses such as diabetes and mental conditions amongst millennials is fueling the growth of the global digital therapeutics market. Furthermore, growing advancements and improvements by market players in digital therapeutics are projected to give rise to profitable opportunities for market growth during the forecast period. However, the absence of awareness about the effectiveness and usability of digital therapeutics among people is anticipated to hinder market growth.
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COVID-19 Pandemic Impact on the Digital therapeutics Market:
The abrupt rise of the COVID-19 pandemic has positively impacted the growth of the global digital therapeutics industry. In the pandemic period, patients across the globe have switched to digital modes of health treatment and services to avoid physical contact with other patients and medical professionals and avert the spread of the virus. Moreover, many digital healthcare companies have taken significant initiatives to offer digital therapeutic services amidst the crisis period. This has boosted the global market growth significantly during the pandemic crisis.
The report segments the global digital therapeutics market into product, application, and region.
Software Sub-Segment to Experience Speedy Growth
Among the product segment, the software sub-segment is expected to experience rapid growth and garner $8,385.10 million during the forecast period. The growth of this sub-segment is mostly because software can be easily installed on a patient’s smartphone and is a suitable solution for continuously keeping track of the health and illness status of a patient.
Diabetes Sub-Segment to Observe Highest Growth
Among the application segment, the diabetes sub-segment is projected to grab leading market share by garnering $2,543.60 million by 2028. This is mostly because of the rising number of diabetes patients across the globe that need continuous medical assistance.
Asia-Pacific Region to Observe Rapid Growth
The report analyzes the global digital therapeutics market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia Pacific region market is expected to grow rapidly and hit $2,069.40 million during the estimated timeframe. The growth of this regional market is mainly owing to the rising investments and advancements in advanced healthcare facilities, such as digital therapeutics, owing to the presence of various diseases among people in the region.
Region: Asia-Pacific Region will Grow Rapidly during estimated Timeframe
Major Players in the Digital Therapeutics Market:
The report lists some of the leading players functioning in the global digital therapeutics industry including
- Better Therapeutics
- Noom
- WellDoc
- Propeller Health
- Livongo Health
- Omada Health
- Proteus Digital Health
- Akili Interactive Labs
- Happify
- Pear Therapeutics, and others.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. - Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
For instance, in October 2019, Wellthy Therapeutics, a digital therapeutics startup that offers digital healthcare for patients with chronic disorders, launched digital therapeutics in diabetes and cardiovascular disorders in Hindi and Kannada.
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