The rapid evolution of technology, encompassing wearable devices, mobile applications, and telehealth platforms, has significantly propelled the market growth. These technological strides enable seamless real-time data collection, transmission, and analysis, empowering healthcare providers with the ability to remotely oversee patients' vital signs, medication adherence, and overall health status. Within the Digital Therapeutics (DTx) landscape, these advancements have led to the creation of wearable devices and sensors specifically designed for health parameters. These parameters include movement, posture, range of motion, muscle activity, and joint pressure.
The rising technological advancements in the DTx market are poised to reshape healthcare, fostering innovation, improving patient outcomes, and establishing a new era of personalized and effective digital interventions, which is driving market growth.
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Data Bridge Market Research analyzes that the Europe Digital Therapeutics (DTx) Market is expected to reach USD 3,488.44 million by 2031 from USD 699.24 million in 2023, growing with a CAGR of 23.4% in the forecast period of 2024 to 2031.
Key Findings of the Study
Growing Expansion of Telehealth Applications in Europe
Telehealth platforms allow healthcare providers to remotely assess patients, provide guidance, and monitor treatment progress, improving accessibility and convenience for patients with MSK conditions. It allows patients to access healthcare services remotely, eliminating barriers such as geographical distance and limited healthcare infrastructure. More patients can benefit from DTx devices as telehealth continues to expand, regardless of their location. This increased access opens up opportunities for remote monitoring companies to reach a wider patient population and expand their services.
Thus, the growing expansion of telehealth applications in healthcare signifies a transformative shift in the delivery of medical services. Telehealth, propelled by advancements in technology, offers a broad range of applications that enhance access, convenience, and efficiency in healthcare delivery. The integration of telehealth applications not only improves healthcare accessibility but also contributes to more patient-centric and cost-effective healthcare solutions, ultimately reshaping the traditional healthcare landscape, which is expected to act as an opportunity for market growth
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Product (Hardware Products, Solutions/Software, and Services), Application (Treatment, Preventive, and Others), End User (Hospitals, Specialty Clinics, Home Healthcare, and Others), Distribution Channel (Direct Tender, Retail Sales, and Others)
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Countries Covered
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Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Denmark, Poland, Sweden, Finland, Norway, and Rest of Europe
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Market Players Covered
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Kaia Health (New York), HealthHero (U.K.), Mindable Health GmbH (Germany), GAIA AG (Germany), ResMed (U.S.), and Sidekick Health (Germany) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis
The Europe Digital Therapeutics (DTx) market is segmented into four notable segments based on product, application, end user, and distribution channel.
- On the basis of product, the Europe Digital Therapeutics (DTx) market is segmented into hardware products, solutions/software, and services
In 2024, the solutions/software segment is expected to dominate the Europe Digital Therapeutics (DTx) market
In 2024, the solutions/software segment is expected to dominate the market with a 49.43% market share due to safety and easily available services.
- On the basis of application, the Europe Digital Therapeutics (DTx) market is segmented into treatment, preventive, and others
In 2024, the preventive segment is expected to dominate the Europe Digital Therapeutics (DTx) market
In 2024, the preventive segment is expected to dominate the market with a 52.22% market share since it is related to many chronic diseases that are highly prevailing.
- On the basis of end user, the Europe Digital Therapeutics (DTx) market is segmented into hospitals, specialty clinics, home healthcare, and others. In 2024, the hospitals segment is expected to dominate the market with a 37.43% market share
- On the basis of distribution channel, the Europe Digital Therapeutics (DTx) market is segmented into direct tender, retail sales, and others. In 2024, the direct tender segment is expected to dominate the market with a 83.64% market share
Major Players
Data Bridge Market Research analyzes HealthHero (U.K.), ResMed (U.S.), GAIA AG (Germany), Sidekick Health (Germany), Kaia Health (U.S.) as the major players operating in the Europe Digital Therapeutics (DTx) market.
Market Developments
- In September 2023, GAIA AG launched Amiria which is an innovative depression therapy, offering a fully automated therapeutic software experience. Through advanced technology, it provides personalized and evidence-based interventions, making mental health support more accessible and tailored for individuals seeking effective automated depression treatment and helping to enhance the operating system of the company
- In April 2021, Kaia Health announced a USD 75.00 million Series C round (total raised to date: USD 125.00 million) to expand clinical capabilities and transform the treatment path for Musculoskeletal (MSK) and Chronic Obstructive Pulmonary Disease (COPD) care in the U.S. and Europe
- In August 2020, ResMed collaborated with Novartis and connected the Propeller Digital Health platform to enerzair and Atectura Breezhaler once-daily drugs available outside the U.S. for asthma treatment. This collaboration is an important step forward in improving patient outcomes and increasing compliance with chronic respiratory illnesses
Regional Analysis
Geographically, the countries covered in this market report are Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Denmark, Poland, Sweden, Finland, Norway, and rest of Europe.
As per Data Bridge Market Research analysis:
Germany is expected to be the dominant and fastest-growing country in the Europe Digital Therapeutics (DTx) market
Germany is expected to dominate the market and is estimated to be the fastest-growing country as it comprises many DTx companies and a huge network of users and providers. Also the country has increasing government support and funding.
For more detailed information about the Europe Digital Therapeutics (DTx) market report, click here – https://www.databridgemarketresearch.com/reports/europe-digital-therapeutics-market
