Digital therapeutics Market By Product and By Geography – Opportunities & Forecast, 2018-2025

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The increasing incidence of long-term diseases is the prime force complementing the growth of the global digital therapeutics market. In accordance with the Centers for Disease Control and Prevention, 6 out of 10 adults in the United States suffer from at least one severe health disorder.

Global Digital therapeutics Market

The global Digital Therapeutics Market is anticipated to proliferate at an annual rate of 23.1% over the forecast period. This is because of the accelerating incidences of severe diseases and the ongoing technological innovations.

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Digital therapeutics Market Dynamics

The increasing incidence of long-term diseases is the prime force complementing the growth of the global digital therapeutics market. In accordance with the Centers for Disease Control and Prevention, 6 out of 10 adults in the United States suffer from at least one severe health disorder. Taking care of individuals with chronic health disorders, such as high blood pressure, diabetes, and congestive heart failure, cost almost billions to the US Healthcare system. Healthcare organizations can reduce the growing cost of nursing for a rising number of patients with incurable health conditions with the adoption of digital therapeutics. For instance, Verily introduced a study watch with an irregular pulse recorder in partnership with iRhythm for constant examination, data analytics, and cloud-based machine learning to generate inventive solutions to monitor atrial fibrillation (AFib).

The apprehension regarding the suitable legal grounds to process data in the situation of digital health matters. The modification of systems by integrating digital health is a complicated, expensive, and extensive task where the interests of all parties need to be reunited. The precondition for the robust adoption of digital therapeutics includes the deliberation of cybersecurity. Digital therapeutics solutions and services are transferred information over the internet. The risks of unauthorized access and manipulation of these products and underlying data could compromise both trust in the product and patient care.

Type Segment Drivers

By Type, the Software segment is expected to capture the most significant share over the coming years. The growth of the segment is attributed to the growing number of innovations of software and apps by the digital therapeutics' enterprises to manage health. For instance, Happify Health declared the initiation of Ensemble, the first transdiagnostic prescription digital therapeutic to treat patients with Generalized Anxiety Disorder (GAD).

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