Key Players in the Digital Therapeutics Market Pursue Agreements, Collaborations and Partnerships; and Investments as their Key Growth Strategies to Hold Market Position

According to the new market research report “Digital Therapeutics Market by Application (Prevention (Prediabetes, Obesity), Care (Diabetes, CVD, CNS, CRD, Smoking Cessation, Musculoskeletal)), Sales Channel (B2C (Patient, Caregiver), B2B (Provider, Payer, Employer, Pharma)) - Global Forecast to 2021", published by MarketsandMarkets™, The global digital therapeutics market is expected to reach USD 457.9 Million by 2021 from USD 110 Million in 2016, growing at a CAGR of 27.7% from 2016 to 2021.

On the basis of application, the digital therapeutics market is segmented into preventive and treatment/care applications. The preventive applications segment is further categorized into prediabetes and obesity. The treatment/care applications segment is further categorized into cardiovascular diseases, smoking cessation, medication adherence, diabetes, CNS diseases, respiratory diseases, musculoskeletal disorders, and other applications (including wellness; post-operative care; pregnancy and parenting; and personal goals and habit platforms). The preventive applications segment is expected to grow at the highest CAGR during the forecast period. Its high growth can be attributed to government initiatives to increase the focus on preventive healthcare and a rising consensus among policy makers, providers, and patients on the superior effectiveness of preventive measures and behavioral and lifestyle changes as compared to pills or surgical procedures.

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Digital therapeutics refers to health or social care interventions delivered through a smart device to support healthy behaviors and provide therapeutic effects. Digital therapies/programs are cost-effective and have the potential to improve patient engagement and bring a substantial change in patients’ health. Owing to these advantages, digital therapeutics is increasingly being prescribed to help manage long-term conditions such as diabetes, insomnia, and asthma.
Market growth is driven by the incidence of preventable chronic diseases, rising focus on preventive healthcare, technological advancements, growing need to control healthcare costs, significant increase in venture capital investments, and a number of benefits offered by digital therapeutics, such as their abilities to induce behavioral change, improve drug adherence, patient convenience, and user-friendliness. Furthermore, government initiatives to support the development and adoption of digital therapeutics solutions also provide an impetus to the growth of this market.

The key strategies followed by most companies in the digital therapeutics market are agreements, collaborations, and partnerships; investments; and new product launches. Among all growth strategies adopted by market players, agreements, collaborations, and partnerships accounted for the largest share of the overall growth strategies mapped from 2013 to 2016. Some leading players adopting these strategies include Proteus Digital Health, Inc. (U.S.), Omada Health Inc. (U.S.), WellDoc Inc. (U.S.), Livongo Health (U.S.), Noom Inc. (U.S.), Ginger.io Inc. (U.S.), Propeller Health (U.S.), 2Morrow Inc. (U.S.), and Mango Health Inc. (U.S.).
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