UK Digital Therapeutics Market Analysis

UK Digital Therapeutics Market Analysis


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UK Digital Therapeutics Market is at around $0.2 Bn in 2023 and is projected to reach $0.8 Bn in 2030, exhibiting a CAGR of 25.2 % during the forecast period. The healthcare system's use of digital health, technological advancements, investments, and funding are driving market expansion. The market is dominated by key players like Big Health, GAIA, Omada Health Inc., 2Morrow Inc., Livongo Health Inc., WellDoc, Propeller Health, Canary Health, Noom Inc., Akili Interactive Labs Inc., and HYGIEIA.

ID: IN10GBDH006 CATEGORY: Digital Health GEOGRAPHY: UK AUTHOR: Aneri Parekh

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UK Digital Therapeutics Market Executive Summary

UK Digital Therapeutics Market is at around $0.2 Bn in 2023 and is projected to reach $0.8 Bn in 2030, exhibiting a CAGR of 25.2 % during the forecast period.

In the UK, the fast-developing field of digital therapeutics treats and manages medical conditions through the use of software, digital technology, and data-driven therapies. To deliver therapeutic interventions that have been clinically verified, this rapidly expanding industry includes a wide range of digital technologies, including wearable technology, virtual reality applications, and smartphone apps. The market for digital therapeutics in the UK is crucial to the transformation of conventional methods of patient care and treatment as a result of the growing integration of technology into healthcare systems.

The market for digital therapeutics in the UK is expanding quickly due to the growing utilization of digital health solutions. Growing recognition of the advantages of digital therapies, technological developments, and a supportive regulatory climate are important considerations. Market participants are concentrating on innovative solutions to different healthcare problems to enhance patient outcomes.

Digital therapies have seen tremendous growth on a global scale, with revenue rising to $6.2 Bn in 2023. This industry has experienced significant expansion, which is a reflection of the deep revolution brought about by the use of contemporary technology and economical manufacturing techniques. As a result, the usage of digital treatments is growing in the healthcare industry. Further innovations are expected to assist the industry's further progress, as the market's current trend indicates that more changes may be on the horizon.

In the UK, Big Health is a major player in the digital therapeutics business, specializing in non-pharmacological, clinically supported therapies for common mental health issues. Big Health is proud of its two main digital therapeutics initiatives, Daylight and Sleepio. Both programs distinguish themselves from less substantiated health apps by emphasizing clinical research and strong scientific backing. The digital therapeutics market in the United Kingdom is expanding rapidly because of the efforts of the NHS to integrate and increase mental health awareness, and government assistance.

UK digital therapeutics market

Market Dynamics

Market Growth Drivers:

Technological Developments: The creation of creative digital therapy solutions has been made possible by technological developments such as wearables, smartphone apps, and sensors.

Healthcare System Embracing Digital Health: To enhance patient outcomes and expedite healthcare delivery, the UK healthcare system has been using digital health solutions. This trend is supported by digital therapeutics, which provide tools for better patient involvement, individualized treatment programs, and remote patient monitoring.

Funding and Investments: More funding from healthcare organizations, pharmaceutical firms, and venture capital firms can hasten the creation and application of digital medicinal solutions. This money inflow enables market expansion, research, and development.

Market Restraints:

Regulatory Hurdles: There may be obstacles in the process of digital therapies regulation. Market expansion may be hampered by the need to maintain compliance with current laws and regulations and to adjust to any changes that may occur.

Lack of Standardization: Integration of digital medicines with other healthcare technology and systems may be hampered by the lack of interoperability standards and established procedures.

Clinical Validation and Evidence: To support the safety and efficacy of digital therapies, stakeholders, such as regulators and healthcare providers, may require substantial clinical evidence which could pose a limitation.

Healthcare Policies and Regulatory Landscape

The Medicines and Healthcare Products Regulatory Agency (MHRA) oversees pharmaceutical regulations in the United Kingdom. The Department of Health and Social Care is the sponsor of the executive agency known as MHRA. To ensure that the medication is safe, effective, and satisfies manufacturing quality standards, the regulatory body conducts clinical studies. A license or marketing authorization is granted if they are satisfied. This makes it possible for the license holder to sell the product in the areas that fall within the purview of the regulatory body. There is adherence to the strict safety and efficacy requirements set forth by the Medicines and Healthcare Products Regulatory Agency (MHRA), comprehensive regulatory reviews, and intensive clinical research. These procedures take a lot of time and resources to complete, which occasionally causes delays and challenges when introducing new drugs into the market.

Competitive Landscape             

Key Players:

  • Big Health
  • GAIA
  • Omada Health Inc.
  • 2Morrow Inc.
  • Livongo Health Inc.
  • WellDoc
  • Propeller Health
  • Canary Health
  • Noom Inc.
  • Akili Interactive Labs Inc.
  • HYGIEIA

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

UK Digital Therapeutics Market Segmentation

By Solution

  • Software
  • Services

By Deployment

  • Cloud-based
  • On-premises

By Application

  • Therapy
  • Diabetes
  • Obesity
  • CNS
  • Respiratory
  • CVD

By End-use

  • Diagnostic Centres
  • Healthcare Players
  • Healthcare Research Centres
  • Hospitals & Clinics
  • Nursing Care Centres
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 15 February 2024
Updated by: Ritu Baliya

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