Digital Therapeutics Market Size is Predicted to Exhibit 21.0% CAGR till 2025: Grand View Research, Inc

Digital Therapeutics Market Size is Predicted to Exhibit 21.0% CAGR till 2025: Grand View Research, Inc

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According to report published by Grand View Research, the increasing smartphone and internet usage among the people is one of the significant drivers for Digital Therapeutic Market.

According to a report, Digital Therapeutics Market By Application (Diabetes, Obesity, CVD, CNS Disorder, Respiratory Diseases, Smoking Cessation), By End Use (Patients, Providers, Payers, Employers), And Segment Forecasts, 2018 – 2025, published by Grand View Research, Inc., The global Digital Therapeutics Market is anticipated to reach USD 9.4 billion by 2025, according to a new report by Grand View Research, Inc. The growth of the market is catapulted by increasing incidences of chronic diseases, increasing emphasis on preventive healthcare, the need to curb healthcare expenditures, and added benefits offered by digital therapeutics. Rise in number of venture capitalists that are investing in the market is another factor that is accelerating its growth. 

Key Takeaways from the report:

  • The global digital therapeutics market size was estimated at $1.7 Billion in 2016 and is expected to grow at 21.0% CAGR from 2017 to 2025
  • Diabetes is expected to gain the largest market share on the basis of application owing to increasing incidence rates globally and preventive steps taken to reduce them
  • Obesity is also expected to account for a considerable market share due to various healthcare reforms to curb the disease initially and prevent further costs associated with the disease
  • The adoption of digital therapeutics offers reduction in healthcare costs associated with diseases like diabetes and obesity and are thus being used on an increasing scale
  • Digital tracking, continuous monitoring, and management of physical activity and eating habits are factors that are propelling the growth of the market
  • Increasing usage in preventive areas for a wide range of diseases and disorders like respiratory disorders, CVD, and CNS disease are attributes that are bringing about growth of the market
  • Patients accounted for the largest market share in the end-user’s segment owing to user-friendly interface and effective management of diseases
  • The North American region accounted for the highest revenue owing to technological advancement and healthcare expenditure to curb rise in number of chronic diseases
  • The Asia Pacific region is expected to garner considerable growth during the forecast period owing to increasing adoption of advanced healthcare technologies and rise in number of chronic diseases 

U.S. digital therapeutics market, by application, 2014 – 2025 (USD million)

U.S. digital therapeutics market, by application, 2014 - 2025 (USD million)

 

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Digital therapeutics, commonly known as software-for drugs has been gaining much attention due to the number of benefits it offers to patients that utilize it. Continuous monitoring of patient’s vital stats, ability to ensure adherence to medications, prompt reminders are some of the most important benefits offered by digital therapeutics.

Canada digital therapeutics market share, by end use, 2016 (USD Million)

Canada digital therapeutics market share, by end use, 2016 (USD Million)

With an increase in the internet usage and dependency over smartphones, digital therapeutics offers easy tracking and monitoring of patients and their vital stats without intervention. This serves in a discrete and non-interventional manner to persuade individuals to adopt healthier lifestyles and improve physical well-being. Captivating design, extended assessment, and digital tracking are features that are attributing to increasing adoption of digital therapeutics by patients, employers, providers and others.

The North American region contributed to the largest market share owing to technologically advanced medical infrastructure and successful execution of ambulatory health in their healthcare system. Emerging countries like India, China and Brazil are also expected to flourish during the forecast period owing to adoption of enhanced healthcare infrastructure and medical technologies to curb the prevention of chronic diseases. 

Grand View Research has segmented the global digital therapeutics market on the basis of application, end use, and region:

Application Outlook (Revenue, USD Million; 2014 – 2025)

  • Diabetes
  • Obesity
  • CVD
  • CNS Disease
  • Respiratory Diseases
  • Smoking Cessation
  • Others

End-use Outlook (Revenue, USD Million; 2014 – 2025)

  • Patients
  • Providers
  • Payers
  • Employers
  • Others

Regional Outlook (Revenue, USD Million; 2014 – 2025)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
  • Asia Pacific
    • China
    • India
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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