This report provides exclusive insights into the COVID-19 impact on the Digital Therapeutic Devices Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Digital Therapeutic Devices Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Digital Therapeutic Devices Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on digital therapeutic devices market provides an in-depth analysis of segments and sub-segments in global as well as regional digital therapeutic devices market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional digital therapeutic devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global digital therapeutic devices market. According to the report the global digital therapeutic devices market is projected to grow at a CAGR of 15% over the forecast period of 2018-2024.
Digital therapeutic is a health care intervention which is delivered through the smart device for supporting the health behavior of an individual and provide therapeutic effects accordingly. These devices are used in different applications such as respiratory therapy, pain management rehabilitation, and even for blood sugar control. Digital therapeutics is self-control and health treatment option that uses digital and frequently online health technologies to treat a medical or psychological condition. Due to the digital nature of the methodology, data can be collected and analyzed as a progress report as well as a preventative measure.
Factors such as the growing use of technology for therapeutics of medical conditions, the growing occurrence of chronic diseases and expanding incidence of diabetes and cardiovascular diseases are some of the driving factors for the digital therapeutic market. Furthermore, consumers shifting towards the advanced services in the medical field, and the augmented focus on preventive healthcare by the government is also boosting the growth of the market. Moreover, the government is taking initiatives and launching programs for the higher adoption rate of digital therapeutic devices. Besides increase awareness about the benefits offered by the digital medical devices and rising disposable income among the people of developed as well as developing nations is another factor responsible for the market growth.
In addition to this the growing incidence of preventable chronic diseases, technological advancements, noteworthy growth in venture capital investments, and various benefits offered by digital therapeutics, such as their capabilities to induce behavioral change, patient convenience and user-friendliness are another factors that are driving the growth of this market. On the contrary, patient’s data privacy concerns connected with digital therapeutic devices and the high cost of digital therapeutic devices are hampering factors for digital therapeutics device market.
Among the geographies, North America had dominated the growth of the market followed by Europe region. In the North America region due to the early adoption of new technologies, increasing investment through funding and highly developed healthcare infrastructure and high disposable income among the citizens to facilitate growth in this market. Further, in Europe region, factors such as growing incidence of chronic diseases such as cancer, diabetes, and obesity and government taking initiatives for the adoption of technology for treating medical conditions are boosting the growth of Europe digital therapeutic devices market.
The report on global digital therapeutic devices market covers segments such as product, application and end user. On the basis of product, the global digital therapeutic devices market is categorized into respiratory therapy devices, pain management devices, insulin pumps, and rehabilitation devices. On the basis of application, the global digital therapeutic devices market is categorized into treatment and preventive. On the basis of the end user the global digital therapeutic devices market is categorized into B to B and B to C.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global digital therapeutic devices market such as Twine Health, Inc., Propeller Health, Nanobiosym, Inc., Canary Health, Zest Health, BioTelemetry Inc., Livongo Health, Pear Therapeutics, Inc., Proteus Digital Health and WellDoc Inc.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global digital therapeutic devices market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of digital therapeutic devices market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the digital therapeutic devices market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the digital therapeutic devices market to understand the present and future trends in this market and formulate their strategies accordingly.