Global Digital Therapeutics Market Overview:
Digital therapeutics refers to software products which are used in treatment of medical condition. These products are similar to consumer wellness applications as it allows users to take control over their own health. This treatment method is based on behavioral therapy treatment. It can be used to cure number of diseases which include dementia, type-II diabetes, obesity, anxiety and depression. Growing prevalence of chronic diseases are expected to supplement the demand for digital therapeutics. According to AMA, the Global Digital Therapeutics market is expected to see growth rate of 21.7% and may see market size of USD8.1 Billion by 2024.
- Growing Focus on Reducing Cost in Healthcare
- Rising Number of Chronic Diseases
- Adoption of IoT and AI in Healthcare Industries
- Growing Prevalence of mHealth
- Growing Number of Cyber Threat and Data Privacy Concerns
- Lack of Awareness in Emerging Countries
- Growing Number of Startups Fueled by Rising Investment
- Rising Cognitive Behavioral Therapy Treatment
- Working in Traditional Healthcare Providers for Digital-therapeutics Companies
Some of the key players profiled in the report are Proteus Digital Health. Inc (United States), Omada Health, Inc (United States), Welldoc, Inc (United States), Livongo Health (United States) and Mango Health Inc (United States). Additionally, following companies can also be profiled that are part of our coverage like 2 Morrow (United States), Propeller Health (United States), Twine Health (Fitbit) (United States) and Canary Health (United States). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global Digital Therapeutics market by 2024. Considering Market by Disease, the sub-segment i.e. Diabetes will boost the Digital Therapeutics market. Considering Market by Sales Channel, the sub-segment i.e. Business-to-business (B2B) will boost the Digital Therapeutics market. Considering Market by Component, the sub-segment i.e. Software will boost the Digital Therapeutics market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Digital Therapeutics market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Digital Therapeutics market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Digital Therapeutics Service Providers, System Integrators, Potential Investors, Research Institutes, Market and Research Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.