Digital Therapeutics Market Is Expected To Grow At A CAGR Of 21.0% CAGR from 2014 to 2025: 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.
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.
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.
U.S. digital therapeutics market, by application, 2014 -
2025 (USD million)
Browse full research report on Digital
Therapeutics Market:
Further key findings from the report suggest:
- 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
For more information: http://www.grandviewresearch.com
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