Northrook, IL -- (SBWire) -- 01/09/2020 --According to the report "Digital Therapeutics Market by Application (Prevention (Prediabetes, Obesity), Care (Diabetes, CVD, CNS, CRD, Smoking Cessation, Musculoskeletal)), Sales Channel (B2C (Patient, Caregiver), B2B (Provider, Payer, Employer, Pharma)) – Global Forecast to 2021", the global digital therapeutics market size offers the provisional expectation of reaching USD 458 million from USD 110 million in 2016. Therefore, it can be understood and measured by the evaluation that the global digital therapeutics industry is growing at a CAGR of 27.7% from the year 2016 to 2021.
The consecutive factors like; the growing awareness amongst and in midst the providers, payers and employers about the several and numerous benefits of digital therapeutics and the rapidly and successively growing awareness as well as inclination of pharmaceutical companies as well as organizations for considering an integral component as digital therapeutics as their drug products are driving the growth of the segment considerably B2B and B2C.
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Application wise the digital therapeutics market is segmented into two parts, which are, respectively, preventive applications and treatment or in other words care-based applications. On the other hand, upon the basis of the sales channel, the global digital therapeutics industry is segmented by B2C and B2B sales channels. According to the calculative measure, the B2B segment offers an estimated provision of commanding the largest share in the year 2016 and as well as register the highest CAGR in the global digital therapeutics industry.
Geographical Region Covered
Depending upon the geography, the global digital therapeutics industry is segmented into the regions of Europe, North America, Asia Pacific, and the Rest of the World. Amongst them, North America is undoubtedly accounted as a form of expectation and estimation, that it will hold the largest market share by the end of 2016. This considerably large amount of share can be categorized into various factors which are all-inclusive of the growing incidence of chronic diseases, government initiatives and inaugurations of technological support advancements in the field and aspect of digital therapeutics, as well as a growing and developing inflow of fresh and new start-up organization and companies in the expected market.
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Key Players
The key, as well as the prominent players in the digital therapeutics market, are inclusive of WellDoc Inc. (U.S), Proteus Digital Health, Inc. (U.S), Noom Inc. (U.S), Livongo Health (U.S), Ginger.io Inc. (U.S), 2Morrow Inc. (U.S), Mango Health, Inc. (U.S), Canary Health Inc. (U.S) and Propeller Health (U.S).
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Emerging Trends in Digital Therapeutics Market by Types, Revenue, Industry Growth and Forecast
North America dominates the digital therapeutics market, with the U.S. accounting for the major share and highest CAGR.