As Per the Centers for Disease Control and Prevention, 6 in 10 Adults in the U.S. are Suffering from Chronic Disease and Also it is the Leading Driver of USD 3.5 Trillion Annual Health Care Costs of U.S.

Clinical trial is one of the essential parts of prescription digital therapeutics development procedure. This process assesses the safety and effectiveness of new therapeutics intended to launch on the market. The trial ensures that a new product is expected to launch in the market after a span of time, ultimately boosting the market share. Various manufacturers are engaged in manufacturing novel prescription digital therapeutics to fulfil the highly unmet demands of people suffering from debilitating diseases.        

Global Prescription Digital Therapeutics (PDTx) Market is expected to reach USD 17,656.51 million by 2027 from USD 10,186.98 million in 2019 growing with the CAGR of 7.4% in the forecast period of 2020 to 2027. The demand for prescription digital therapeutics (PDTx) has been increased in both developed well as in developing countries and the reason behind this is increase in geriatric population rise in prevalence of chronic diseases. The prescription digital therapeutics (PDTx) market is growing due to high demand of cost effective digital therapeutics. The market will grow with technological advancements and increasing funding activities in the forecasted period.            

Increasing prevalence of diseases led the patients and healthcare professional to adopt some advanced and novel therapeutics across the world will drive the market's growth rate

The continuous rise in chronic diseases globally has badly affected the life of sufferers; thus, these diseases are also putting a great burden on healthcare professionals. For the accurate management and effective treatment the need of advanced tools is increasing. The prescription digital therapeutics can be used as an augmentation with the medication or these can be used as replacement therapy for enhancing the quality of life. Thus, increasing disease prevalence is driving global prescription digital therapeutics (PDTx) market growth.

Report Scope and Market Segmentation

Segment Analysis:

Global prescription digital therapeutics (PDTx) market is categorized into nine notable segments which are based on basis of mechanism, category, treatment, software, services, app accessibility, app type, application, patients.

• On the basis of mechanism the global prescription digital therapeutics (PDTx) market is segmented into input mechanisms, output mechanisms. In 2020, Hospital Pharmacy segment is expected to dominate the market with 43.22% market share because these mechanisms are dependent on the patients' data which are submitted in the software or app. After this the app or software calculate or suggest the treatment option to the patients as well as monitors the disease symptoms of the patients.
• On the basis of category segment the global prescription digital therapeutics (PDTx) market is segmented into medication augmentation, medication replacement. In 2020, Hospital Pharmacy segment is expected to dominate the market with 43.22% market share because prescription digital therapeutics are application or software based therapy which provide the treatment guide, therapies option according to patients symptoms.
• On the basis of software segment, the global prescription digital therapeutics (PDTx) market is segmented into software for respiratory conditions, mental health, opioid use disorder, software for diabetes, others. In 2020, software for diabetes is dominating the market because the world major population suffering from the diabetes and is the major cause of death. According to a survey 463 million population suffering from diabetes and this date is increasing continuously at a faster pace. Due to this global health expenditure on diabetes is also increasing and research continuously working to find the new and easy way to treat the patients.
• On the basis of services segment the global prescription digital therapeutics (PDTx) market is segmented behavioral microservices, medical microservices. In 2020, behavioral microservices segment is dominating the market because these software based application majorly work on the behavior studies and are the primary aspect of the therapy to find to the behavior of the patients in between the treatment.
• On the basis of app accessibility segment the global prescription digital therapeutics (PDTx) market is segmented into android, iOS, windows. Android, iOS, windows is further sub –segmented into smartphone and tablet. In 2020, android segment dominating the market because the android software is the most common type of software and is compatible with majority of the digital therapeutics. On the basis of app type segment the global prescription digital therapeutics (PDTx) market is segmented into native apps, web apps.
• On the basis of app type segment the global prescription digital therapeutics (PDTx) market is segmented into native apps, web apps. In 2020, web apps segment is dominating the market as these are personalized app which runs on the web server and can be stored locally on the operating system.
• On the basis of application segment the global prescription digital therapeutics (PDTx) market is segmented into substance use disorder (SUD), opioid use disorder (OUD), attention deficit/hyperactivity disorder (ADHD), alzheimer's disease, major depressive disorder (MDD), insomnia, epilepsy, movement disorder, multiple sclerosis, migraine, austism spectrum disorder, oncology, inflammation, respiratory, cardiovascular, pain management, metabolic conditions, others. In 2020, metabolic conditions segment is dominating the market as the cardiovascular diseases and disorders especially diabetes are leading cause of the death. Research organizations and market players are continuously working to treat the metabolic conditions which have direct impact on the daily lives.

The metabolic conditions segment will dominate the application segment of the prescription digital therapeutics (PDTx) market

The metabolic conditions segment will emerge as the dominating segment under application. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the healthcare industry all around the globe will further bolster the growth of this segment.

• On the basis of patients segment the global prescription digital therapeutics (PDTx) market is segmented into children and adults. In 2020, adult segment is dominating the market because all the software or applications are supported by the adult's data except few. Till now for the clinical studies on prescription digital therapeutics only adults data were taken and majority of adult population are using these types of therapeutics.

The adults segment will dominate the patients segment of the prescription digital therapeutics (PDTx) market

The adults segment will emerge as the dominating segment patients segment. This is because of the growing number of research institutes in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in market: ResMed (U.S.), SAMSUNGHEALTHCARE (South Korea), Biofourmis (U.S.), Novartis AG (Switzerland), Medtronic (Ireland), Pear Therapeutics, Inc. (U.S.), Voluntis (France), Omada Health, Inc. (U.S.), GAIA AG (Germany), Welldoc's Bluestar (U.S.),Solera Network (U.S.), Akili Interactive Labs, Inc. (U.S.), Better Therapeutics, LLC (U.S.), BigHealth (U.S.), Biofourmis (U.S.),Click Therapeutics, Inc. (U.S.), Happify, Inc. (U.S.), Limbix Health, Inc. (U.S.), Naturalcycles Nordic AB (Sweden), NuvoAir AB (Sweden), Sensyne Health plc. (U.K.), Xealth (U.S.).

Market Development

• In June 2020, Pear Therapeutics, Inc. received marketing authorization for RESET from the Health Science Authority (HSA) of Singapore. Through this marketing authorization the product will be available to wide population size. This initiative boosted the company's product sale which in turn accelerated the company's growth.
• In June 2020, Akili Interactive Labs, Inc. received CE mark approval for EndeavorRx, a prescribed gaming therapy indicated for treatment of Attention Deficit Hyperactivity Disorder (ADHD) in pediatric patients. This approval allowed the company to enhance the product sales in European region which allow the company to attain a lucrative growth.

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

As per Data Bridge Market Research analysis:

North America is the dominant region in prescription digital therapeutics (PDTx) market during the forecast period 2020 - 2027

In terms of market share and revenue, North America now dominates the prescription digital therapeutics (PDTx) market, and this dominance is expected to grow throughout the projection period. This is because more prescription digital therapeutics (PDTx) research and development is being done, and because rising healthcare costs will further accelerate the market's growth pace in this area.

Asia-Pacific is estimated to be the fastest growing region in prescription digital therapeutics (PDTx) market the forecast period 2020 - 2027

As a result of rising healthcare costs and an increase in the frequency of chronic diseases in this area, Asia-Pacific is anticipated to experience the quickest growth during the projected period of 2022-2029. Additionally, improvements in the system for paying for digital therapies may speed up the market's expansion in this area.    

COVID-19 Impact

The US FDA issued a provisional advisory for Pear Therapeutics' mental health drugs in the midst of the COVID-19 epidemic. Additionally, it suggests that regulatory bodies are aware of the importance of digital therapeutics products. A record high in the history of digital health funding, USD 5.4 billion in venture capital was raised by digital health startups in the United States in the first half of 2020, demonstrating the need for these solutions in the eyes of investors. Consequently, it is anticipated that the COVID-19 pandemic will increase demand for prescription digital therapies (PDTx).

For more detailed information about the prescription digital therapeutics (PDTx) market, visit: https://www.databridgemarketresearch.com/reports/global-prescription-digital-therapeutics-dtx-market