What is the COVID-19 Pandemic Impact on the Digital Therapeutics Market?

According to a new report published by Allied Market Research, titled “Digital Therapy Market by Product, Channel, Application and Region: Global Opportunity Analysis and Industry Forecast, 2021-2031,” the global digital therapy market size figures cost at $3,845.74. . million in 2021 and is expected to reach $22,601.97 million by 2031, registering a CAGR of 19.4%.

Digital therapy provides patients with evidence-based therapeutic interventions powered by advanced software programs to prevent, manage or treat medical conditions or diseases. Digital therapy (DTx) is a proven therapy for a specific disease and designed to modify patient behavior to improve disease outcomes. Digital therapy includes a variety of products such as mobile devices, wearable devices, and sensors.

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North America is expected to dominate in terms of revenue, owing to rapid rise in incidences of chronic illness, high adoption rate of digital therapeutics, robust R&D infrastructure for life science researches, presence of key players, and advancements in healthcare investments. Europe was the second largest contributor to the market in 2021, due to the continuous government support for pharmaceutical and R&D, increase in public–private investments, and rise in number of research activities in the healthcare sector for improved and efficient treatment. In addition, abundance of pipeline products is anticipated to drive the market growth.

Major Key Market Players Covered In The Report Are -

2MORROW, Inc., Akili Interactive Labs, Inc., Click Therapeutics, Inc., Fitbit, Inc. (Twine Health, Inc.), Happify, Inc., Kaia Health, Livongo Health, Inc., Medtronic Plc., Omada Health, Inc., Pear Therapeutics, Inc., Proteus Digital Health, Inc., Resmed, Inc. (Propeller Health), Voluntis, Inc., Welldoc, Inc.

According to the perspectives of CXOs of leading companies in the market, significant advancements in the applications of digital therapeutic products with increase in clinically backed researches and advanced hardware and software are projected to increase the usage rate of digital therapeutics globally. Presently, rapid adoption of digital therapeutics is witnessed around the globe for wellness management such as fitness, diet & nutrition, diabetes, obesity, respiratory disorder, and lifestyle & stress management.

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The digital therapy market, which is part of digital health, has grown in popularity in recent years. The COVID-19 pandemic has disrupted healthcare systems around the world and, as the healthcare response to the pandemic strengthens, the need for major changes in tools and hardware that can improve quality of life and contribute to health, as well as features that can save lives appeared.

FREQUENTLY ASKED QUESTIONS?

Q1. What is the total market value of digital therapeutics market report ?
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Q3. What is the market value of digital therapeutics market in 2022?
Q4. Which is base year calculated in the digital therapeutics market report?
Q5. Which are the top companies hold the market share in digital therapeutics market?

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with vario research data tables and confirms utmost accuracy in our market forecasting. Each and ever us companies and this helps us in digging out market data that helps us generate accurate y data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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