United States Digital Therapeutics Market to Grow at a Robust Rate through 2025
Growing
prevalence of chronic diseases to drive the growth of
United States digital therapeutics market
According to
TechSci Research report, “United States Digital Therapeutics Market By Product (Software
v/s Device), By Sales Channel (B2B v/s B2C), By Application (Preventive Applications
v/s Treatment Applications), By Region, Forecast & Opportunities, 2025”, the United States digital therapeutics market is expected
to grow at a robust rate during the forecast period on account of the increasing
technological advancements in mobile healthcare. Additionally, associated
benefits such as ability to induce behavioral changes, ease of use, patient
convenience, improved patient compliance, among others with digital
therapeutics are further expected to propel the market over the next few years.
Moreover, digital therapeutics not only address unmet patient needs but also
support various stages of patient healthcare journey. They can collect,
synthesize and analyze patient data so that the physician can provide a
personalized treatment to the patient and avoid complications. Furthermore,
growing venture capital investments are also expected to positively impact the
growth of market in the country. However, lack of awareness and access to
digital awareness especially in the developing world might hamper the growth
market through 2025. Additionally, data privacy concerns can also hinder the
growth of market. Furthermore, resistance from traditional healthcare providers
restricts the market growth across the country. Also, digital therapeutics does
not include consumer health oriented technologies such as calorie counter,
steps tracker, among others, which might also negatively impact the market
growth. Besides, unstable payment models might also slow down the market
growth.
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The United
States digital therapeutics market is segmented based on product, sales
channel, application, company and region. Based on product, the market can be
divided into software and device. The software segment is expected to dominate
the market over next few years. This can be ascribed to the rising demand for
reducing burden and costs of healthcare around the globe. Additionally, this
provides immense opportunities to the developers to use the existing software
and develop new and advanced features to make them affordable and effective. Based
on sales channel, the market can be categorized into B2B and B2C. the B2B
segment is expected to dominate the market over the next few years. This can be
accredited to the growing awareness among providers, payers & employers
about benefits provided by digital therapeutics & healthcare cost
reductions by their use. Additionally, there is growing inclination of
pharmaceutical and biotechnology companies to integrate digital therapeutics
with their drug products. Based on application, the market can be bifurcated
into preventive applications and treatment applications. The preventive
applications segment is expected to witness significant growth during forecast
period owing to the increasing government initiatives to promote preventive
healthcare.
Noom
Inc., Livongo Health, Omada Health Inc., WellDoc, Inc., Pear Therapeutics Inc.,
Proteus Digital Health Inc., Resmed, Inc. (Propeller Health), Akili Interactive
Labs, Better Therapeutics, Happify, Mango Health, Click Therapeutics, Canary
Health, Cognoa, Dthera Sciences, Mindstrong Health, 2Morrow Inc., Ginger,
Fitbit Inc. (Twin Health Inc.), Livongo Health, Inc. and others are some of the
leading players operating in United States digital therapeutics market. The companies
operating in the market are using organic strategies such as product launches,
mergers and collaborations to boost their share.
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“United States is expected to
witness significant growth in the digital therapeutics market during the
forecast years, owing to the increasing awareness related to digital
therapeutics system in the country. Additionally, increasing number of people
suffering from chronic diseases such as cancer, diabetes, cardiovascular
diseases, among others in the country is further anticipated to spur the market
through 2025. Furthermore, increasing healthcare expenditure coupled with
improving healthcare IT infrastructure in the region is expected to create
lucrative opportunities for the players in the market over the next few years.
Also, influx of new start-ups and easy reimbursement policies are expected to
foster the growth of market in the country. Besides, favourable government
schemes & policies are expected to fuel the market growth over the next few
years.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based United States management consulting firm.
“United States Digital Therapeutics Market By
Product (Software v/s Device), By Sales Channel (B2B v/s B2C), By Application (Preventive
Applications v/s Treatment Applications), By Region, Forecast &
Opportunities, 2025”, has evaluated
the future growth potential of United States digital therapeutics market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in United States digital therapeutics market.
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