TMCnet News
The global digital therapeutics market is projected to grow at a CAGR of 19.6%, till 2035, claims Roots AnalysisThe convergence of cutting-edge innovation in information technology and biomedical science, with the increasing demand for remote solutions, has facilitated the emergence of advanced digital health solutions that can imitate or augment the features of pharmacological interventions LONDON, March 16, 2023 /PRNewswire/ -- Roots Analysis has announced the addition of "Digital Health Market (3rd Edition), 2023-2035" report to its list of offerings.  Driven by the growing automation and digitization in the healthcare industry, digital therapeutics have gained significant traction and attention from the industry stakeholders. Owing to their rising popularity and adoption of digital solutions, and ongoing efforts to introduce AI, digital therapeutics market is expected to grow at a significant pace, till 2035. To order this 560+ page report, which features 155+ figures and 200+ tables, please visit https://www.rootsanalysis.com/reports/view_document/digital-health-market/208.html Key Market Insights Over 400 digital therapeutic solutions are currently available / under development It is worth mentioning that approximately 45% of the digital therapeutic solutions are standalone software applications that target over 60 unique indications, across 20 different therapeutic areas. Further, about 75% applications provide curative therapy and 70% are intended for the adult population. More than 150 players currently claim to offer digital therapeutics Majority of the players engaged in this industry are small firms (11-50 employees, 40%), followed by very small companies (2-10 employees, 32%), mid-sized players (51-501 employees, 24%), and large companies (>501 employees, 4%). Additionally, nearly 60% of the developers are based in North America, followed by those headquartered in Europe (28%). Close to 70% of digital therapeutic solutions aim to serve as an alternative to traditional medication Digital therapeutic solutions are primarily available / being developed to treat mental health problems and neurological disorders). In addition, some of these solutions are designed to enhance conventional treatments for substance use disorders and selected mental health issues. Close to220 digital solutions focused on women's health are available / being developed Close to 50% of these solutions are software applications targeting various therapeutic areas. Amongst these, over 60% of the solutions are focused on menstrual and reproductive health. Furthermore, in the past decade, over 130 start-ups have been established, offering innovative solutions for women's health. 500+ clinical trials focused on digital therapeutics have been registered since 2010 Over the last decade, more than 1.6 million patients participated in clinical trials aimed at evaluating the efficacy and safety of these solutions. Of the total trials, majority (70%), are being conducted in the US, as efforts continue to gather real-world evidence on the effectiveness of digital therapeutics. Investment worth over USD 8 billion has made by public and private companies since 2016 Nearly 60% of the investment in companies developing digital therapeutic solutions has been made in the last two years. Further, majority (67%) of the total amount was raised through venture series instances / rounds. Partnership activity in this field has grown at a CAGR of ~40%, between 2016 and 2022 More than 65% of the reported deals were established post 2019, with the maxmum activity being reported in 2021. Majority of the instances captured in the report were focused on commercialization agreements, pilot product offerings and product / technology integration agreements. The Bowman Clock Pricing Strategy framework is a crucial tool for assessing the competitiveness of companies in the digital therapeutics sector The framework considers various features, including the duration of treatment, type of therapy, intended purpose of the solution, targeted therapeutic area, to determine a company's unique product offerings. It also provides an equation for estimating the potential price of digital therapeutics based on their specific characteristics, thereby, enabling industry players to effectively evaluate their product strategy. North America and Europe are anticipated to capture over 70% of the market share by 2035 The digital therapeutics market in Asia is expected to grow at a relatively faster pace (~22%). It is also important to note that digital therapeutics intended to treat metabolic disorders are expected to hold the highest share of the market in 2035. To request a sample copy / brochure of this report, please visit https://www.rootsanalysis.com/reports/208/request-sample.html Key Questions Answered
The financial opportunity within the digital therapeutics market has been analyzed across the following segments:
The report features inputs from eminent industry stakeholders, according to whom, digital therapeutic solutions are likely to witness enhanced adoption due to their broader applicability, remote guidance and other advanced features, thereby, offering lucrative opportunities to their developers. The report includes detailed transcripts of the discussions held with following industry experts:
The research includes profiles of key players (listed below); each profile features a brief overview of the company, details related to its recent developments (including funding and collaborations) and an informed future outlook.
For additional details, please visit You may also be interested in the following titles:
Contact: Gaurav Chaudhary Logo: https://mma.prnewswire.com/media/742223/Roots_Analysis_Logo.jpg
|
View original content: