Monday, 19 February 2018

Digital Therapeutics Market by Application & Sales Channel - 2021

Digital therapeutics refers to health or social care interventions delivered through a smart device to support healthy behaviors and provide therapeutic effects. Digital therapies/programs are cost-effective and have the potential to improve patient engagement and bring a substantial change in patients’ health. Owing to these advantages, digital therapeutics is increasingly being prescribed to help manage long-term conditions such as diabetes, insomnia, and asthma.”
Growth Factors :

Digital Therapeutics Market growth is driven by the incidence of preventable chronic diseases, rising focus on preventive healthcare, technological advancements, growing need to control healthcare costs, significant increase in venture capital investments, and a number of benefits offered by digital therapeutics, such as their abilities to induce behavioral change, improve drug adherence, patient convenience, and user-friendliness. 

Furthermore, government initiatives to support the development and adoption of digital therapeutics solutions also provide an impetus to the growth of this market. The relatively untapped Asia-Pacific market and unexplored therapeutic applications have opened an array of opportunities for the growth of the market. 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 growth of this market.
“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. The market is segmented on the basis of application, sales channel, and region.”
On the basis of application, the digital therapeutics market is segmented into preventive and treatment/care applications. The preventive applications segment is further categorized into prediabetes and obesity. The treatment/care applications segment is further categorized into cardiovascular diseases, smoking cessation, medication adherence, diabetes, CNS diseases, respiratory diseases, musculoskeletal disorders, and other applications (including wellness; post-operative care; pregnancy and parenting; and personal goals and habit platforms). 

The preventive applications segment is expected to grow at the highest CAGR during the forecast period. Its high growth can be attributed to government initiatives to increase the focus on preventive healthcare and a rising consensus among policy makers, providers, and patients on the superior effectiveness of preventive measures and behavioral and lifestyle changes as compared to pills or surgical procedures.

On the basis of sales channel :

The digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B).The B2C sales channel market is further segmented into patients and caregivers. The B2B sales channel market is further segmented on the basis of buyer into providers, payers, pharmaceutical companies, employers, and other buyers (includes wellness centers, fitness centers, and gyms). 

In 2016, the B2B segment is estimated to account for the largest share of the digital therapeutics market owing to greater adoption of digital therapeutics in this segment, especially among payers and employers, to reduce cost of providing healthcare services.

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