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Global Home Medical Furniture Market – Industry Trends and Forecast to 2029

  • Medical Devices
  • Upcoming Report
  • Jul 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Medical Devices
  • Upcoming Report
  • Jul 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Digital Therapeutics Market, By Product Type (Software and Devices), Sales Channel (B2C and B2B), Application (Preventive Applications and Treatment/Care-related Applications) - Industry Trends and Forecast to 2029

Digital Therapeutics Market

Digital Therapeutics Market Analysis and Size

The global digital therapeutics market is expected to witness significant growth during the forecast period. Digital therapeutics help deliver cheaper healthcare treatment and saves a good amount of time for the patient and the healthcare provider. Rising smartphone, tablet, and other similar device penetration, combined with rising healthcare applications and software, has fueled demand for digital therapeutics. COVID-19 led a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the global digital therapeutics market in the forecast period 2022-2029. The expected CAGR of global digital therapeutics market is tend to be around 21.54% in the mentioned forecast period. The market was valued at USD 4.20 billion in 2021, and it would grow upto USD 20.0 billion by 2029. In addition to 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 also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Digital therapeutics is a part of digital healthcare that helps to prevent, manage and treat a medical condition. Moreover, it also aid in treating psychological conditions. Patient condition are improved a lot as it is evidence-based digital healthcare technology. Digital therapeutics technology is effective and efficient in diagnosing conditions that are not diagnosed otherwise by the healthcare system such as chronic diseases, neurological disorders, and much more.

Digital Therapeutics Market Scope and Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

By Product Type (Software and Devices), Sales Channel (B2C and B2B), Application (Preventive Applications and Treatment/Care-related Applications)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Omada Health, Inc. (U.S.), ResMed (U.S.), Pear Therapeutics, Inc. (U.S.), Solera Network (U.S.), Akili Interactive Labs, Inc. (U.S.), Better Therapeutics, LLC (U.S.),  Biofourmis (U.S.), Click Therapeutics, Inc. (U.S.), Naturalcycles Nordic AB (Sweden), NuvoAir AB (Sweden), Welldoc’s Bluestar (U.S.), Happify, Inc. (U.S.), Limbix Health, Inc. (U.S.), Voluntis (U.S.), Xealth (U.S.)

Market Opportunities

  • Emerging Market Growth

Global Digital Therapeutics Market Dynamics

Drivers

  • Rising Chronic Diseases

The high incidence of chronic diseases along with rising demand for controlled healthcare facilities and treatment costs has boosted the demand for digital therapeutics. For instance, cardiovascular disease (CVD) is leading to the death of 17.3 million people per year, and this is expected to cross 23.6 million by 2022.

  • Launch of new products

A strong line of potential products that are expected to be launched during the forecast period also provide emerging opportunities in the future. For instance, potential products of pear therapeutics, clinical therapeutics products in phase III are Pear-011 (anxiety GAD), Pear-015 (depression MDD) which are used in the treatment of chronic insomnia and depression and CT-152 (major depressive disorder), CT-155 (schizophrenia) are used in the treatment of schizophrenia and depression.

Opportunities

  • Emerging Market Growth

Emerging countries such as India, China, and the Middle East present growth opportunities for digital therapeutics. Most emerging countries show high rates of the incidence of chronic disease. Developing countries like India and China lack government regulations for digital health solutions, which provide potential to healthcare professionals who cannot meet stringent standards set by FDA.

Restraints/Challenges

  • Lack of skilled professionals

The lack of qualified personnel who are unable to use these devices could curb the growth of the global digital therapeutics market over a forecast period.

  • High Cost

The huge expenditure required for manufacturing these therapeutics surely hamper the market growth. Several market players make huge investment in installing new and advanced therapeutics to faster the process and in return the cost is increased.

This global digital therapeutics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global digital therapeutics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Digital Therapeutics Market

Considering the present scenario, COVID-19 has left a major global public health crisis that has impacted largely on every business, especially healthcare. Its long-term repercussions are expected to influence industry growth during the forecast period.

Due to COVID-19, patients are increasingly shifting to digital therapeutics for disease evaluation and treatment. The COVID-19 outbreak has also compeled healthcare providers to explore alternatives to standard procedures. The COVID-19 outbreak has encouraged healthcare professionals to look for alternatives. As a result, both patients and doctors are adopting digital therapeutics increasingly.

Global Digital Therapeutics Market Scope

The global digital therapeutics market is segmented on the basis of product type, sales channel and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Software
  • Devices

Sales Channel

  • B2C
  • B2B

Application

  • Preventive Applications
  • Treatment/Care-related Applications

Digital Therapeutics Market Regional Analysis/Insights

The global digital therapeutics market is analysed and market size insights and trends are provided by product type, sales channel and application as referenced above.

The major countries covered in the global digital therapeutics market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market due to rising focus on improvement and advancement of healthcare technologies. Asia-Pacific region have highest growth due to the increased investment in healthcare infrastructure alongwith rising prevalence of chronic diseases.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Digital Therapeutics Market Share Analysis

The global digital therapeutics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global digital therapeutics market

Key players operating in the global digital therapeutics market include:

  • Omada Health, Inc. (U.S.)
  • ResMed (U.S.)
  • Pear Therapeutics, Inc. (U.S.)
  • Solera Network (U.S.)
  • Akili Interactive Labs, Inc. (U.S.)
  • Better Therapeutics, LLC (U.S.)
  • Biofourmis (U.S.)
  • Click Therapeutics, Inc. (U.S.)
  • Naturalcycles Nordic AB (Sweden)
  • NuvoAir AB (Sweden)
  • Welldoc’s Bluestar (U.S.)
  • Happify, Inc. (U.S.)
  • Limbix Health, Inc. (U.S.)
  • Voluntis (U.S.)
  • Xealth (U.S.)


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Frequently Asked Questions

The Global Digital Therapeutics Market is expected USD 20.0 billion by 2029.
The Global Digital Therapeutics Market is projected to grow at a CAGR of 21.54% during the forecast period of 2022-2029.
On the basis of application, the Home Medical Furniture Market is segmented into Preventive Applications and Treatment/Care-related Applications.
The major players operating in the Home Medical Furniture Market are Omada Health, Inc. (U.S.), ResMed (U.S.), Pear Therapeutics, Inc. (U.S.), Solera Network (U.S.), Akili Interactive Labs, Inc. (U.S.), Better Therapeutics, LLC (U.S.), Biofourmis (U.S.), Click Therapeutics, Inc. (U.S.), Naturalcycles Nordic AB (Sweden), NuvoAir AB (Sweden), Welldoc’s Bluestar (U.S.), Happify, Inc. (U.S.), Limbix Health, Inc. (U.S.), Voluntis (U.S.), Xealth (U.S.).