FELTON, California, July 19, 2017 /PRNewswire/ --
The global digital therapeutics market size was estimated at USD 1.7 billion in 2016. Digital therapeutics is a subset of digital health and is used to track health conditions and self-management of a medical condition. A significant change in the usage of digital technology has created cognizance among users and has allowed increasing adoption of these services. Moreover, there has been increased burden of the chronic diseases that requires effective treatment and management. There are a lot of services provided by digital therapeutics that aid in embracing healthy habits and allow efficient tracking and management of conditions. Digital therapeutics is thus estimated to grow at a fast rate owing to increasing adoption among patients and other end users.
There has been a significant rise in internet usage among people which has been one of the significant drivers for the digital therapeutic market. Moreover, the treatment associated with the digital therapeutics is popular which is further adding to the growth of the digital therapeutic market. Chronic diseases are major problems and act as threats to the economy leading to high healthcare expenditure. For instance, according to the CDC, about 50 % of the adult population were suffering from the chronic diseases in 2012. As chronic diseases like diabetes, obesity and other respiratory problems are well managed with the help of the digital therapeutics they are being used on an increasing level.
Based on the application, the market is classified into diabetes, obesity, cardiovascular diseases, central nervous system disease, respiratory diseases, smoking cessation, and others. Diabetes accounts for the largest market share of the application segment followed by other applications. Diabetes causes heavy burden on patients as well economies on the health front as well as the economic front. For instance, 8.3 % of the U.S. population suffer from diabetes while 35% of them exhibit prediabetes symptoms. Also diabetes is expected to show the fastest growth in the application segment due to the high prevalence and incidence of the disease.
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Based on end use, the digital therapeutics market is divided into the patients, employers, providers, payers, and others. Patients are the major consumers of the therapeutic healthcare programs and applications offered by digital therapeutics. The usage of these services has been attributed due to increasing cognizance and added benefits offered by digital therapeutics.
Hospitals accounted for the largest market share owing to increased usage of digital therapeutics services for patients admitted in these settings. The utilization of these services allows affordable and vital healthcare to patients.
Some of the key companies in the market comprises of Livongo Health; Twine health, Inc.; Omada Health, Inc.; 2Morrow, Inc.; Propeller Health; WellDoc, Inc.; Canary Health, Inc.; Proteus Digital Health, Inc.; and Mango Health, Inc. Digital therapeutics is in its preliminary stages of development and is expected to increase its presence in the digital market with increasing adoption of apps and services offered by developers. However, growth probability is considered to be great in the market, which is contributed by growing adoption of therapeutic applications by leading healthcare providers to provide better treatment options to patients.
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- Application Outlook (Revenue, USD Million; 2014 - 2025)
• CNS Disease
• Respiratory Diseases
• Smoking Cessation
- End use Outlook (Revenue, USD Million; 2014 - 2025)
- Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Latin America
- South Africa
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