(PharmaNewsWire.Com, September 12, 2019 ) 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.
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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The key strategies followed by most companies in the digital therapeutics market are agreements, collaborations, and partnerships; investments; and new product launches. Among all growth strategies adopted by market players, agreements, collaborations, and partnerships accounted for the largest share of the overall growth strategies mapped from 2013 to 2016. Some leading players adopting these strategies 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.), and Mango Health Inc. (U.S.).
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