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
Report Metric
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Details
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Forecast Period
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2020 to 2027
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Base Year
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2019
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Historic Years
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2018 (Customizable to 2013 - 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Mechanism (Input Mechanisms, Output Mechanisms), Category (Medication Augmentation, Medication Replacement), Treatment (Outpatient Treatment, Monotherapy), Software (Software for Respiratory Conditions, Software for Mental Health, Software for Opioid Use Disorder, Software for Diabetes, Others), Services (Behavioral Microservices, Medical Microservices), App Accessibility (Android, iOS, Windows), App Type (Native Apps, Web Apps), Application (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, Autism Spectrum Disorder, Oncology, Inflammation, Respiratory, Cardiovascular, Pain Management, Metabolic Conditions, Others), Patients (Children, Adults)
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Countries Covered
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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).
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Market Players Covered
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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.) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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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.
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.
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
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
Global Prescription Digital Therapeutics (PDTx) Market – Industry Trends and Forecast to 2029
North America Prescription Digital Therapeutics (PDTx) Market – Industry Trends and Forecast to 2027
Asia-Pacific Prescription Digital Therapeutics (PDTx) Market – Industry Trends and Forecast to 2029
Europe Prescription Digital Therapeutics (PDTx) Market – Industry Trends and Forecast to 2027
Middle East and Africa Prescription Digital Therapeutics (PDTx) Market – Industry Trends and Forecast to 2027