Healthcare IT

Digital Therapeutics Market Study by Chronic Diseases, Rising Focus on Preventive Healthcare, Technological Advancements of Canary Health (U.S.), Noom Health (U.S.), and Omada Health (U.S.) Companies

digital therapeutics market
digital therapeutics market
Press Release

In digital therapeutics market Government initiatives to support development & adoption of digital therapeutics solutions provide an impetus for growth of market. North America will continue to lead market in forecast period. Over next five years, growth of market is likely to be centered on U.S.

Report “Digital Therapeutics Market”, Global digital therapeutics market expected to reach USD 457.9 Million by 2021 from USD 110 Million in 2016, growing at 27.7% CAGR to 2021. Above-mentioned market research data, current market size, & forecast of future trends will help key players and new entrants to make necessary decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, & levels of output in order to remain successful.

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North America dominates digital therapeutics market, with U.S. accounting for major share & highest CAGR. This can be attributed to growing incidence of chronic diseases, government initiatives to support technological advancements in digital therapeutics, gradually improving reimbursement structure for digital therapeutics solutions, & a growing influx of new startup companies in market as a result of increasing investments in digital therapeutics field. This collaboration enabled WellDoc to access Johnson and Johnson’s large patient base.

“Lack of Awareness and Access to Digital Therapeutics Programs in Developing Countries. Resistance From Traditional Healthcare Providers.”

For instance, U.S. Congress authorized Centers for Disease Control and Prevention (CDC) to create Diabetes Prevention Recognition Program (DPRP) & recognize programs that meet evidence-based standards provided by DPRP. The global digital therapeutics market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW).

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In addition, company profiles comprise basic views on key players in digital therapeutics market and their product portfolios, developments, and strategies. Above-mentioned market research data, current market size, and forecast of future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products & technologies, & levels of output in order to remain successful.

Company Profiles (Introduction, Products & Services, Strategy, & Analyst Insights, Developments)

  1. Proteus Digital Health, Inc.
  2. Omada Health, Inc.
  3. Welldoc, Inc.
  4. Livongo Health
  5. Noom Inc.
  6. Ginger.Io, Inc.
  7. Propeller Health
  8. 2morrow Inc.
  9. Canary Health Inc.
  10. Mango Health Inc.

More Information on “Digital Therapeutics Market by Application (Prevention (Prediabetes, Obesity), Care (Diabetes, CVD, CNS, CRD, Smoking Cessation, Musculoskeletal)), Sales Channel (B2C (Patient, Caregiver), B2B (Provider, Payer, Employer, Pharma)) – Global Forecast to 2021” Report at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=610187 .

Report will enrich both established firms as well as new entrants/smaller firms to gauge pulse of market, which in turn will help firms garner a greater market share. Firms purchasing report can use any one or a combination of below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, & competitive assessment) for strengthening their market shares.

Recent Developments

  • In Febuary, Omada Health, Inc. launched a new version of its diabetes prevention program, Prevent. New product includes additional features designed to meet the needs of underserved populations. This launch enabled the company to improve its product offerings and expand its customer base.
  • In March, WellDoc, Inc. entered into a strategic collaboration with LifeScan, Inc. (U.S .), a Johnson & Johnson (U.S.) company, to provide digital therapeutic solutions for patients with type 2 diabetes. As per this collaboration, WellDoc’s product Bluestar will be integrated with LifeScan’s products OneTouchVerio Fle Bluetooth Smart blood glucose monitoring system and OneTouch Revealmobile app.
  • In May, Humana Inc. (U.S.), a leading health and well -being company in the U.S., made a strategic equity investment in Livongo Health. This investment enables the company to support its growth and accelerate the launch of new products and services in the market
  • In April, Proteus Digital Health, Inc. received a Series H financing worth USD 50 million. This enabled company to expand its Digital Medicines platform.