Digital Therapeutics Market worth 457.9 Million USD by 2021

The global digital therapeutics market is expected to reach USD 457.9 Million by 2021 from USD 110 Million in 2016, growing at a CAGR of 27.7% from 2016 to 2021.

On the basis of application, the digital therapeutics market is segmented into preventive and treatment/care-based applications. On the basis of sales channel, the digital therapeutics market is segmented into B2C and B2B sales channel. The B2B segment is estimated to command the largest share in 2016 and register the highest CAGR in the digital therapeutics market, by sales channel. Factors such as growing awareness among providers, payers, and employers about the benefits of digital therapeutics and the growing inclination of pharmaceutical companies to integrate digital therapeutics with their drug products are driving the growth of this segment.

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Based on geography, the global digital therapeutics market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the market by the end of 2016. This large share can be attributed to various factors, including growing incidence of chronic diseases, government initiatives to support technological advancements in the field of digital therapeutics, and a growing influx of new startup companies in the market.

Prominent players in the digital therapeutics market include Proteus Digital Health, Inc. (U.S.), Omada Health Inc. (U.S.), WellDoc Inc. (U.S.), Livongo Health (U.S.), Noom Inc. (U.S.), Ginger.io Inc. (U.S.), Propeller Health (U.S.), 2Morrow Inc. (U.S.), Canary Health Inc. (U.S.), and Mango Health, Inc. (U.S.).

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North America dominates the digital therapeutics market, with the U.S. accounting for the major share and highest CAGR. This can be attributed to the growing incidence of chronic diseases, government initiatives to support technological advancements in digital therapeutics, gradually improving reimbursement structure for digital therapeutics solutions, and a growing influx of new startup companies in the market as a result of increasing investments in the digital therapeutics field. For instance, in July 2014, Proteus Digital Health (U.S.) secured an investment of USD 172 million from a list of institutional investors for the manufacturing and development of its digital medicine products. Furthermore, in January 2014, WellDoc, Inc. (U.S.) received USD 20 million from the Merck Global Health Innovation Fund (U.S.), which it used to commercialize its products in the U.S. Such investments are likely to spur the growth of the market in North America in the coming years.

The global digital therapeutics market is expected to reach USD 457.9 Million by 2021 from USD 110 Million in 2016, growing at a CAGR of 27.7% from 2016 to 2021. The factors driving market growth include growing incidence of chronic diseases, rising focus on preventive healthcare, technological advancements, growing need to control healthcare costs, significant increase in venture capital investments, and the benefits of digital therapeutics. However, factors such as lack of awareness and access to digital therapeutics programs in developing countries, patient data privacy concerns, and resistance from traditional healthcare providers may restrain the digital therapeutics market growth.

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