Global Digital Therapeutics Market Analysis Report [2022-30] I Insights10

Global Digital Therapeutics Market Analysis

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The Global Digital Therapeutic Market is projected to grow from $3.88 Bn in 2022 to $17.248 Bn by 2030, registering a CAGR of 20.50% during the forecast period of 2022 - 2030. It is anticipated to expand due to the increasing adoption of digital health technologies, growing demand for remote patient monitoring, and rising incidence of chronic diseases. Some key players in the digital therapeutic market include Omada Health, Proteus Digital Health, and WellDoc.

ID: IN10GLDH006 CATEGORY: Digital Health GEOGRAPHY: Global AUTHOR: Shivam Zalke

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Global Digital Therapeutic Market Executive Summary

The Global Digital Therapeutic Market is projected to grow from $3.88 Bn in 2022 to $17.248 Bn by 2030, registering a CAGR of 20.50% during the forecast period of 2022 - 2030.

The digital therapeutic market refers to the use of digital technologies, such as software, mobile apps, and wearable devices, to deliver therapeutic interventions for the prevention, management, or treatment of various diseases and conditions. The Global Digital Therapeutic Market was valued at $ 4.20 Bn in 2021 it is anticipated to expand at a compound annual growth rate (CAGR) of 26.1% from 2022 to 2030, due to increasing adoption of digital health technologies, growing demand for remote patient monitoring, and rising incidence of chronic diseases. Some key players in the digital therapeutic market include Omada Health, Proteus Digital Health, and WellDoc.

The key trends and opportunities in the Digital Therapeutics market as well as future trends are growing as a result of factors like rising smartphone adoption, improved internet connectivity, improved healthcare IT infrastructure, rising healthcare costs, rising prevalence of chronic diseases, rising demand for remote patient monitoring services, and increasing accessibility of virtual care.

global digital therapuetics market

Market Dynamics

Market Growth Drivers

The global market is anticipated to be driven by rising smartphone adoption in both developed and developing nations, the affordability of digital health technology for patients and providers, and rising demand for patient-centered care and integrated healthcare systems. Kepios estimates that 4.27 Bn people used the internet worldwide in April 2021, making up more than 60% of the world's population. It is anticipated that as this number rises, so will public awareness of smart health tracking. Additionally, it is anticipated that the COVID-19 pandemic, helpful regulatory initiatives, early indications of reimbursement, and the rising prevalence of chronic diseases will fuel market growth.

IT companies are using a range of implementation strategies to increase the adoption of eHealth solutions that increase productivity in healthcare institutions, such as telemedicine, laboratory management systems, and clinical decision support systems. Businesses that educate healthcare professionals and payers about the need for follow-up following clinical treatments are seeing success with implementation. Deep medical learning is being improved by businesses in the Digital Therapeutics sector to predict a person's risk for dementia and Parkinson's disease. Some companies are getting better at utilizing artificial medical intelligence to identify possible sickness trends in people (AI)

Competitive Landscape

Key Players

Some of the major players operating in the Global Digital Therapeutic Market:

OMADA HEALTH, INC.
Welldoc, Inc.
2Morrow, Inc
Teladoc Health, Inc.
Propeller Health (ResMed)
Fitbit LLC
CANARY HEALTH
Noom, Inc.
Pear Therapeutics, Inc.
Akili Interactive Labs, Inc.
HYGIEIA
DarioHealth Corp.
BigHealth
GAIA AG
Limbix Health, Inc.

Geographic Overview

The global market has been segmented into North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa based on geography. The largest portion of the global revenue in 2021—more than 41%—was generated in North America. This is due to a number of factors, including an increase in the use of digital health products and advantageous reimbursement scenarios that emphasize raising the quality of life through better tracking and diagnostics. The market is anticipated to be driven by an increase in the prevalence of chronic diseases and the geriatric population in the area. Proteus Digital Health, Inc., Omada Health, Inc., WellDoc, Inc., and Livongo Health, Inc. are a few of the major players in this area.

The fact that the majority of these businesses are American-based only strengthens their dominance in the region. During the anticipated period, the Asia-Pacific region is anticipated to grow at the fastest rate. This rapid growth can be attributed to the rise in smartphone adoption, the demand for high-quality healthcare, and easier internet access. Increased government spending on healthcare is also anticipated to hasten market growth as a result of rising demand for personal care devices and related services.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Digital Therapeutics Market Segmentation

The Digital Therapeutics Market is segmented as mentioned below:

By Solution (Revenue, USD Billion):

Software
Services

By Deployment (Revenue, USD Billion):

Cloud-based
On-premises

By End-use (Revenue, USD Billion):

Diagnostic Centres
Healthcare Payers
Healthcare Research Centres
Hospitals & Clinics
Nursing Care Centres
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.