The Business Research Company’s Digital Therapeutics Global Market Report 2021 – COVID-19 Implications And Growth
LONDON, GREATER LONDON, UK, October 6, 2021 /EINPresswire.com/ — The increasing use of smartphones and tablets coupled with healthcare apps is expected to propel the growth of the digital therapeutics market in the forecast period. Smartphones and tablet-based healthcare apps have numerous advantages over the lower rate of medication errors, facilitating preventive care, and more accurate staffing. For instance, according to the Groupe Speciale Mobile Association (GSMA) report, globally 2.71 billion people owned a smartphone in 2019 and the number of smartphone users in the US reached 270 million in 2020. Therefore, the increasing use of smartphones drives the growth of the digital therapeutics market.
The global digital therapeutics market size is expected to grow from $3.53 billion in 2020 to $4.20 billion in 2021 at a compound annual growth rate (CAGR) of 19%. The change in growth trend of the digital therapeutics market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The digital therapeutics market is expected to reach $10.62 billion in 2025 at a CAGR of 26.1%.
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Technological innovation is an emerging trend gaining popularity in the digital therapeutics market. Major companies operating in the market are focused on developing technologically advanced solutions for digital therapeutics to strengthen their position.
Major players covered in the digital global therapeutics industry are Omada Health Inc., WellDoc Inc., 2Morrow Inc., Livongo Health, Propeller Health, Pear Therapeutics, Canary Health Inc., Noom Health Inc., Mango Health Inc., Akili Interactive Labs, Better Therapeutics, Happify Health, Kaia Health, Medtronic Plc., Teladoc Health Inc, and Fitbit Health Solutions. North America was the largest region in the digital therapeutics market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period.
TBRC’s global digital therapeutics market report is segmented by product into software, devices, by sales channel into business-to-business (B2B), business-to-consumer (B2B), by application into preventive applications, treatment or care-related applications.
Digital Therapeutics Global Market Report 2021 – By Product (Software, Devices), By Sales Channel (Business-To-Business (B2B), Business-To-Consumers (B2C)), By Application (Preventive Applications, Treatment Or Care-Related Applications), COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides digital therapeutics global market overview, forecast digital therapeutics global market size and growth for the whole market, digital therapeutics global market segments, and geographies, digital therapeutics global market trends, digital therapeutics global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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