iCognition Insights has published its market analysis report titled “Digital Therapeutics Market Analysis by Application (Nutrition, Diabetes, CNS Disorder, CVD, Respiratory Disorder, MSD, GI, Drug addiction), by Product Type (Software, Hardware), by End User (B2B, B2C), and by Region – Forecast to 2026. This exhaustive research report focuses on market size and forecast at global, segmental, regional, and country level along with key market trends, growth factors and market dynamics from 2018 to 2026.
According to the report, the global Digital Therapeutics (DTx) Market was valued at USD 3,193.2 million in 2020 and is projected to reach USD 10,594.8 million in 2026, registering a notable compound annual growth rate (CAGR) of 22.1% during the forecast period 2021-2026. This massive growth is expected to be steered by factors:
Get access to free sample report on digital therapeutics market @ https://www.icognitioninsights.com/product/digital-therapeutics-market-analysis/#1609849679664-70b4a1b3-fb5c
Understanding Digital Therapeutics:
Digital Therapeutics (DTx) is an emerging healthcare discipline that uses technological solutions to augment healthcare delivery. Digital Therapeutics is a digital health service that offers evidence-based, software-driven therapeutic interventions to prevent and treat medical disorders and diseases. The digital revolution comprising the advances in Artificial Intelligence (AI), wearable and mobile technology in healthcare has empowered physicians and patients by bringing them closer, establishing real-time communication and data exchanged for improved treatment decisions and care delivery.
Major FDA Approvals in Digital Therapeutics segment:
FDA governs approval of any digital therapeutic and associated devices and applications through its stringent regulatory model and few innovative prescription digital therapeutics (PDTs) have already received approval.
Learn more about the current market scenario and key elements driving the growth @ https://www.icognitioninsights.com/product/digital-therapeutics-market-analysis/
Key Performing Segments and Market Share Analysis:
Growing prevalence of Diabetes to be the primary driver for global market growth
The increasing prevalence of diabetes is expected to drive the market for Digital Therapeutics. According to the American Diabetes Association, 34.2 million Americans had Diabetes in 2018. The total medical costs and lost wages for patients with Diabetes amounted to USD 327 billion. FDA’s digital software precertification program has already started awarding approvals for innovative companies in digital therapeutics that addresses condition like Diabetes and Central Nervous System (CNS) disorders. Such government and regulatory booster along with huge patient pool will contribute significantly to the dominance of Diabetes application segment throughout the forecast period.
The nutrition segment is estimated to grow at a significant CAGR during the forecast period due to the massive obese population, a leading cause of chronic diseases. According to the World Health Organization, it is estimated that over 1 billion people globally would be affected by obesity, and 177 million adults would be severely affected by obesity by 2025.
Cost-effectiveness and Rapid Care to ensure the B2B segment exhibits a significant revenue share
Based on end-user, the market is categorized into business-to-business (B2B) and business-to-consumers segment (B2C). The B2B segment is sub-segmented into employers, hospitals, pharmaceutical firms, and others. This segment accounted for the largest revenue share in 2020 owing to the increasing applications of DTx to provide cost-effective, convenient and rapid patient care.
High Adoption of patient-centric medical solutions to augment the North American market growth
North America was the highest revenue-grossing segment of the global market in 2020 and is projected to maintain its dominance during the forecast period. This is due to the increased adoption of patient-centric medical solutions and rapidly rising demand to reduce healthcare facilities maintenance expenses in this region. The Asia Pacific market is estimated to grow at the fastest growth rate during the forecast period due to the increasing adoption of digital technology in the healthcare sector, significant funding by venture capitalists and government bodies to develop medical infrastructure for treatment of rising chronic conditions concerns amongst the population.
Innovative Strategies and Key Company Trends:
The leading players in the digital therapeutics industry are adopting various strategies including strategic partnerships, investments and funding in R&D, and geographic expansion to capture a maximum revenue share.
Major Players researched in the Report include:
Looking for customization in the report? We provide 15% free customization with this newly published report. Reach us now @ https://www.icognitioninsights.com/custom-research-services/
Acquisitions, Partnerships & Strategic Initiatives to shape the future of Digital Therapeutics market:
The Digital Therapeutics Market report has been categorized into following segments and subsegments:
Interested in the purchase of full version of this report? Reach us for special pricing at https://www.icognitioninsights.com/request-for-special-quote/
A Quick Look into our Upcoming Market Intelligence Reports Library:
Cellular Health Screening Market Analysis by Test Type (Single Test, Multi-Test Panels), by Sample Type (Saliva, Serum, Blood, Urine), by Collection Site (Home, Office, Hospitals, Diagnostic Laboratories), and by Region – Forecast to 2026
Cancer Biomarker Market Analysis by Cancer Type (Lung Cancer, Breast, Colorectal, Prostate, Liver), by Application (Diagnostics, Drug Discovery, Personalized Medicine), by Biomolecule (Epigenetic, Proteomic, Metabolic, Genetic Biomarkers), and by Region – Forecast to 2026
Cholesterol Testing Products & Services Market Analysis by Type of Customer (Hospitals & Physicians/Providers, Diagnostic Centers, Government Agencies) and by Region – Forecast to 2026
Blockchain Technology in Healthcare Market Analysis by Components (Infrastructure & Protocol, Application & Solutions, Middleware), by Application (Claims Adjudication & Billing, Clinical Data Exchange & Interoperability, Clinical Trials & E-Consenting, SCM), by Type, by End User, and by Region – Forecast to 2026
iCognition Insights is a global market research services firm specialized in providing industry-standard syndicated reports and consulting services to international clients across life sciences and healthcare industry verticals. Our methodological research approach coupled with deep domain and analytical expertise opens the doors to the insights that matter. Our reports are carefully packaged and published to offer reliable and latest industry insights, forecasts, and strategy inputs, helping our clients address significant business objectives, from market understanding, penetration, and entry strategies to product portfolio management and competitor analysis.
iCognition Insights Pvt. Ltd.
No. 7, Sai Apt., Survey No. 67,
Tingre Nagar, Pune- 411032, India
US: +1 617 676 0160
APAC: +81 503 196 4844