Middle East and Africa Digital Therapeutic (DTx) Market, By Product and Service Type (Hardware Products, Solutions/Software, Service), Application (Treatment/ Care-Related Applications, Preventive Applications), Purchase Mode (Group Purchase Organization, Individual), Sales Channel (B2B, B2C), Country (Saudi Arabia, South Africa, UAE, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The digital therapeutic (DTx) market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 23.4% in the forecast period of 2021 to 2028 and is expected to reach USD 10,639.36 million by 2028. Increasing prevalence of chronic diseases like diabetes, hypertension among others as well as the rising awareness by government agencies will increase the growth of the digital therapeutic market.
Digital therapeutics (DTx) deliver therapeutic interventions directly to patients using employing evidence-based, remote assessed software to serve, manage and avert a broad spectrum of behavioural, mental and physical disorders. They are utilized alone or mix with medications, devices or other therapies to optimize patient care and health outcomes. Rising remote access to therapies that are clinically tested as safe and effective is one of the properties of digital therapeutics (DTx) during the treatment.
The technological advancement which the companies make in order to grow their product line and gain profits are one of the drivers for the growth of the digital therapeutic (DTx) market. The privacy concerns related to digital therapeutic (DTx) apps may act as a restraint for the growth of the digital therapeutic (DTx) market. The collaboration between the companies will help in the growth of the market and will act as an opportunity for the digital therapeutic (DTx) market. The quality of digital therapeutic (DTx) is to be maintained in order to provide better treatment and proper care for the customers, hence, this needs to be done correctly, therefore this would act as challenge for the digital therapeutic (DTx) market because many a times the need is not met.
The digital therapeutic (DTx) market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the digital therapeutic (DTx) market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The digital therapeutic (DTx) market is categorized into four segments which are based on product and service type, application, purchase mode and sales channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product and service type, the digital therapeutic (DTx) market is segmented into hardware products, solutions/software and service. In 2021, solutions/software segment is expected to dominate the market since with the pandemic situation going on the safety is the prime responsibility, therefore people would tend to prefer this segment and the prevailing diseases will increase the market.
- On the basis of application, the digital therapeutic (DTx) market is segmented into treatment/ care-related applications and preventive applications. In 2021, treatment/care-related applications segment is expected to dominate since this would provide treatment for the chronic disorders which are highly prevailing and the improved life style will tend to increase the market.
- On the basis of purchase mode, the digital therapeutic (DTx) market is segmented into group purchase organization and individual. In 2021, individual segment is expected to dominate the market since many people individually are accepting the digital healthcare platform and want to get treated without any contact and the initiatives taken by the government agencies will tend to increase the market.
- On the basis of sales channel, the digital therapeutic (DTx) market is segmented into B2B and B2C. In 2021, B2C segment is expected to dominate the market since the services are mostly preferred directly to the customers and hence increase the life style and let the market grow.
Digital Therapeutic (DTx) Market Country Level Analysis
The digital therapeutic (DTx) market is analysed and market size information is provided by the country, product and service type, application, purchase mode and sales channel as referenced above.
The countries covered in the digital therapeutic (DTx) market report are the Saudi Arabia, South Africa, UAE, Israel, Egypt, and Rest of Middle East and Africa.
Middle East and Africa is expected to grow with the substantial growth rate in the forecast period of 2021 to 2028 as Middle East and Africa counties are major developing countries and focus on increasing usage of digital therapeutic (DTx) product and rising awareness about it. South Africa is expected to dominate in the market in the Middle East and Africa market due to increasing number of cases in diabetes.
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. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Strategic Initiatives by manufactures is Creating New Opportunities for Players in the Digital Therapeutic (DTx) Market
The digital therapeutic (DTx) market also provides you with detailed market analysis for every country growth in digital therapeutic (DTx) product sales, impact of advancement in the digital therapeutic (DTx) and changes in regulatory scenarios with their support for the digital therapeutic (DTx) market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Digital Therapeutic (DTx) Market Share Analysis
The digital therapeutic (DTx) 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, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to digital therapeutic (DTx) market.
The major companies providing digital therapeutic (DTx) are Fitbit, Inc., ResMed, Omada Health, Inc., and Samsung among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the digital therapeutic (DTx) market.
- In October 2020, TrialCard’s MANGO HEALTH announced a new interoperable technology platform and launched version 2.0 of Mango Health. This latest version includes third-party health service providers with turnkey access to Mango’s robust suite of patient support modules. The company will gain more new subscribers.
- In May 2019, CogniFit had done a study in which it had studied a general assessment that would provide adaptive learning using EEG. It would also help in the stimulation of brain areas of each cognitive skill. This helped the company to be a world leader in brain training and new technologies.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market players is enhancing the company market in the digital therapeutic (DTx) market which also provides the benefit for organization to improve their offering for digital therapeutic (DTx).
Customization Available: Middle East and Africa Digital Therapeutic (DTx) Market
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