Digital Vaccines Market to grow at a CAGR of 10.66% and reach USD2779.10 million by 2028
Increasing clinical
trials on digital vaccine and focus on personalized medicines are driving the
growth of the market in the forecast period 2024-2028.
According to
the TechSci Research report, “Digital
Vaccines Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Digital
Vaccines market is projected to increase at an impressive rate of around 10.66%
and reach USD2779.10 million by 2028. In the upcoming years, it is anticipated
that the booming telemedicine and artificial intelligence in the healthcare sector
is anticipated to open up new opportunities for the expansion of the worldwide
digital vaccination market. In the market for digital vaccines, telemedicine is
becoming more commonplace, making cures and treatments more accessible to
people who live in rural or underserved locations. One such innovation is
digital vaccination, which enables patients to get various treatments and
therapies remotely by simply exercising their brains.
However,
complications associated with devices and applications, along with low
awareness regarding applications of digital vaccine is expected to hamper the
growth of the overall market throughout the forecast period, 2024-2028. Moreover,
high cost of application, limited infrastructure, and data privacy concerns are
the factors limiting the growth of the overall market.
Browse over 107
market data Figures spread through 178 Pages and an in-depth TOC on the "Digital Vaccines Market”
Global Digital
Vaccines market is segmented based on device type and applications.
Based on device
type, the market is categorized into smartphones, tablets, and others. Smartphone
segment gained the highest market share of 44.36% in the device type segment in
the year 2022. The factors responsible for the growth of the segment are increasing
penetration of smartphones on a global level and rising demand for health monitoring
smartphones application. Further, increasing penetration of the internet and
easy availability of service as per individual convenience is anticipated to
boom the growth of the market throughout the forecast period 2024-2028.
Based on application, the market is divided into Diabetes,
Infectious Diseases, Cardiovascular Diseases, and Others. The Diabetes segment dominated the market for digital vaccine care in
2022, accounting for the highest revenue share of 42.55%, owing to being overweight,
obesity, and sedentary lifestyle. The National Diabetes Statistical Report
(2020) estimates that 34.2 million Americans have diabetes i.e., 10.5% of US
population. In the US, the prevalence of diabetes, particularly type 2, is
alarmingly rising. Type 2 diabetes is a lifestyle disorder that is typically
brought on by poor eating habits, inactivity, and genetics. According to the
American Diabetes Association, from 11 million in 2000 (prevalence of 4.0%) to
29 million in 2050 (prevalence of 7.2%), the number of Americans with diabetes
is expected to rise by 165%.
The Digital
Vaccines market in Asia Pacific dominated the growth of the overall market with
37.56% in the year 2022. The factor responsible for the growth of the region is
the sanction of the first digital vaccine patent in India. Furthermore,
increasing startup companies in the Asia Pacific region which are offering
digital vaccine solutions are fueling the growth of the market throughout the
forecast period 2024-2028.
Major companies operating in the Digital Vaccines market
are:
- FriendsLearn, Inc.
- Klein Buendel, Inc
- Evidation Health, Inc.
- Atos SE
- oVRcome
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”Global Digital Vaccines Market is a
developed yet not specifically a well-established market. There have been
digital vaccine solutions available for years for treating phobias through
gamification, along with digital vaccine solutions available to treat anxiety
and depression. However, the digital vaccine market has gained a lot of
traction after the sudden outbreak and spread of COVID-19 pandemic. The
COVID-19 pandemic has had a significant impact on the global digital vaccine
market, particularly in the development of neurocognitive behavior solutions.
The sudden shift to remote work and online learning has highlighted the need
for digital tools and technologies to support individuals' mental health and
well-being. As a result, there has been a surge in demand for digital solutions
that can help people manage stress, anxiety, and other mental health issues
related to the pandemic.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Digital
Vaccines Market- Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028F, Segmented By Device Type
(Smartphone, Tablets, and Others), By Application (Diabetes, Infectious
Diseases, Cardiovascular Diseases, Others), By Company and By Region,
has evaluated the future growth potential of Digital Vaccines 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 the Digital Vaccines market.
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