What is a Digital therapeutics:
Digital
therapeutics (DTx) are a digital health category defined by the Digital
Therapeutics Alliance as products that “deliver evidence-based therapeutic
interventions to patients that are driven by high quality software programs to
prevent, manage, or treat a medical disorder or disease.
Future of Digital therapeutics:
Advances
in and the increasingly dominant role of mobile technology and artificial
intelligence (AI) in our everyday lives have broadened the role of DTx in
healthcare. Although, historically, interest in developing DTx was mainly
confined to academia and technology companies, the potential to use DTx in
conjunction with medicines to improve health outcomes has sparked the interest
of big pharma, who have started to venture into the DTx space through
investments and strategic partnerships with tech companies.
A
significant change in the usage of digital technology has created cognizance
among users and has allowed increasing adoption of these services. Moreover,
there has been increased burden of the chronic diseases that requires effective
treatment and management. There are a lot of services provided by digital
therapeutics that aid in embracing healthy habits and allow efficient tracking
and management of conditions. Digital therapeutics is thus estimated to grow at
a fast rate owing to increasing adoption among patients and other end users.
The
global DigitalTherapeutics market size was estimated at USD 1.7 billion in 2016.
Digital therapeutics is a subset of digital health and is used to track health
conditions and self-management of a medical condition. There has been a
significant rise in internet usage among people which has been one of the
significant drivers for the digital therapeutic market. Moreover, the treatment
associated with the digital therapeutics is popular which is further adding to
the growth of the digital therapeutic market. Chronic diseases are major
problems and act as threats to the economy leading to high healthcare
expenditure. For instance, according to the CDC, about 50 % of the adult
population were suffering from the chronic diseases in 2012. As chronic
diseases like diabetes, obesity and other respiratory problems are well managed
with the help of the digital therapeutics they are being used on an increasing
level.
The
market growth is affected by the lack of the effective monetization techniques
which are faced by the application developers. There has been a shortage of the
financial earnings which are partially fulfilled by the advertisements, paid
content, and other prominent revenue generation strategies.
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Appliactions of Digital
therapeutics:
Hospitals
accounted for the largest market share owing to increased usage of digital
therapeutics services for patients admitted in these settings. The utilization
of these services allows affordable and vital healthcare to patients.
Based
on the application, the market is classified into diabetes, obesity,
cardiovascular diseases, central nervous system disease, respiratory diseases,
smoking cessation, and others. Diabetes accounts for the largest market share
of the application segment followed by other applications. Diabetes causes
heavy burden on patients as well economies on the health front as well as the
economic front. For instance, 8.3 % of the U.S. population suffer from diabetes
while 35% of them exhibit prediabetes symptoms. Also diabetes is expected to
show the fastest growth in the application segment due to the high prevalence
and incidence of the disease. Digital management is helpful in the management
of the symptoms of diabetes such as polyuria, polydipsia, and polyphagia. A
large number of medical practitioners are using mHealth and have estimated that
diabetes would reach its highest market limit in the next 5 years.
Based on end use, the digital
therapeutics market is divided into the patients, employers, providers, payers,
and others. Patients are the major consumers of the therapeutic healthcare
programs and applications offered by digital therapeutics. The usage of these
services has been attributed due to increasing cognizance and added benefits offered
by digital therapeutics.
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Application:
• Diabetes
• Obesity
• CVD
• CNS Disease
• Respiratory
Diseases
• Smoking
Cessation
• Others
The
digital therapeutics market by region is characterized into North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa. North
America is a market dominator in digital therapeutic market. Growing number of
reforms to limit the surge in healthcare expenditure in the country coupled
with drive to focus on a patient-centric healthcare approach is anticipated to
be accountable for the same. Furthermore, North America is a major center of a
great amount of digital therapy suppliers. The U.S. has been conveyed to spend
about USD 3 trillion a year on healthcare. In order to limit this expenditure,
there is a vigorous swing in the U.S. healthcare sector that emphasis focused
towards palliative care, to endorse overall patient wellness as an alternative
of medical treatment.
Asia
Pacific is anticipated to record fastest growth rate, due to two main
attributes, namely, a highly solid population base that adapts into an enormous
target base and rapid development that involves fast changing technological
scenario. Moreover, constant improvements in countries to check the deficiency
of proper infrastructure and preserve sustainable growth through economic
intervention is expected to help the market growth
Competitive Insights
Some
of the key companies in the market comprises of Livongo Health; Twine health,
Inc.; Omada Health, Inc.; 2Morrow, Inc.; Propeller Health; WellDoc, Inc.;
Canary Health, Inc.; Proteus Digital Health, Inc.; and Mango Health, Inc.
Digital therapeutics is in its preliminary stages of development and is
expected to increase its presence in the digital market with increasing
adoption of apps and services offered by developers. Dominant players in the
market are focused on development of user friendly and simple interfaces that
allows customers to use these services on a larger level at ease.
However,
growth probability is considered to be great in the market, which is
contributed by growing adoption of therapeutic applications by leading
healthcare providers to provide better treatment options to patients.
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