Digital Therapeutics Market 2019 | Present Scenario and Growth Prospects 2027 With 2Morrow, Livongo Health, Proteus Digital Health, WellDoc, Fitbit

According to a new market research study titled ‘Digital Therapeutics Market to 2025 – Global Analysis and Forecasts by Application and Distribution Channel, the global digital therapeutics market was valued at US$ 1,993.2 Mn in 2017 and is estimated to reach US$ 8,941.1 Mn by 2025. The market is estimated to grow with a CAGR of 20.8% from 2018-2025.The report highlights the trends prevalent in the global digital therapeutics market and the factors driving the market along with those that act as deterrents to its growth.

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Global digital therapeutics market is expected to grow in the coming years, owing to the rising pressure on healthcare providers to reduce healthcare cost in the market. The fiscal pressure and patent cliffs compel healthcare providers to cut on drug prices, encourage the use of generics and scale back the reimbursement. This in turn is gradually reducing the profit margins and annual net sales of the healthcare companies that leads to immediate requirement of a strategic plan so as to cut down on the operational costs.

Company Profiles Include In Report:

The major players operating in the digital therapeutics market include Propeller Health, CANARY HEALTH, Noom, Inc., 2Morrow Inc., Livongo Health, Proteus Digital Health, WellDoc, Inc., Fitbit, Inc., Omada Health, Inc., and MANGO HEALTH and among others. The market players are focused towards bringing new and innovative program and product launches to sustain their position in the market. For instance, in November 2017, Fitbit, Inc. launched in Argentina with its Fitbit Versa, Fitbit Ionic and Fitbit Ionic adidas Edition smart watches and Fitbit Charge 3 fitness tracker devices. Additionally, in September 2018, Fitbit, Inc. launched Fitbit Care device that combines health coaching and virtual care through the new Fitbit Plus app.

Strategic Insights

Product launch/update and partnerships were observed as the most adopted strategy in global digital therapeutics industry. Few of the product approvals and partnerships made by the players in the market are listed below:

2017: In November, Propeller Health and Express Scripts entered into a partnership to provide Propeller’s FDA-cleared digital solutions to Express Scripts to manage asthma or COPD.

2016: In November, Propeller Health received FDA approval for its Propeller platform for use with GSK’s Ellipta inhaler.

2018: In April, Canary Health entered into a partnership with NMRHCA to offer the Better Choices, Better Health (BCBH) digital therapeutics program in New Mexico.

2016: In June, Canary Health partnered with Medtronic to expand their diabetes care offerings with Canary Health's self-management suite for pre-diabetes, diabetes and related comorbidities.

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DIGITAL THERAPEUTICS – MARKET SEGMENTATION

By Application

  • Diabetes
  • Cardiovascular Diseases
  • Central Nervous System (CNS) Disease
  • Respiratory Diseases
  • Smoking Cessation
  • Musculoskeletal Diseases
  • Other Applications

By Distribution Channel

  • Patients
  • Providers
  • Payers
  • Employers

By Geography

•   North America

•   Europe

•   Asia Pacific (APAC)

•   Middle East & Africa (MEA)

•   South America (SAM)

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Posted by on Friday September 20 2019, 8:45 AM EDT. All trademarks acknowledged. Filed under Healthcare. Comments and Trackbacks closed. Follow responses: RSS 2.0

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