The digital therapeutics market is driven by a rise in the frequency of chronic illnesses and the region's elderly population.

NEWARK, UNITED STATES, April 25, 2022 /EINPresswire.com/ -- The global digital therapeutics market is expected to grow from USD 3.9 billion in 2021 to USD 41.64 billion by 2030, at a CAGR of 30.1% during the forecast period 2022-2030. The rising incidence of chronic illnesses is a significant market driver for digital treatments. Unhealthy lifestyles have become more common as cities have grown in size. This has a direct impact on the person's quality of life. The United States' health system spends billions of dollars each year to treat individuals with chronic health disorders such as diabetes, hypertension, heart problems, and obstructive pulmonary disease.

In 2021, Diabetes application dominated the market with the largest market share with 15.44%.

The application segment is divided into Obesity, Diabetes, Cardio Vascular Diseases (CVD), Respiratory Diseases, Central Nervous System (CNS) Disease, Gastrointestinal Disorders, Smoking Cessation, and Others. In 2021, Diabetes application dominated the market with the largest market share with 15.44% and market revenue of 0.60 billion. Because of the increasing incidence of obesity in emerging nations, as well as the significant risks and economic expenses associated with weight gain disorders, the worldwide digital therapeutics market is expected to rise further.

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In 2021, Patient Digital Therapeutics dominated the market with the largest market share of 20.11%.

The sales channel segment is divided into B2B, Patient, B2C, Caregiver, Pharma, Payer, Providers, Employer. In 2021, Patient Digital Therapeutics dominated the market with the largest market share of 20.11% and market revenue of 0.78 billion. This rise was attributable primarily to patients' more significant usage of digital treatment options. Patients are the primary beneficiaries of therapeutic healthcare software and services. The need for digital treatments is expanding as the number of individuals suffering from chronic illnesses grows.

Regional Segmentation Analysis:

The market is analyzed based on five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North American region emerged as the largest market for the global digital therapeutics market with a 1.37 billion of the market revenue in 2021. Because of its early acceptance of new technology and increased investment through financing, North America is likely to dominate the industry. The funding is linked to an increase in government investment, startup investors, acquisitions, and mergers. Moreover, an increase in the elderly community, a rise in chronic illness occurrences, a spike in demand for wireless and portable devices, and the existence of a comprehensive compensation structure aimed at reducing cost are a few other reasons promoting regional market growth.

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Competitive Analysis:

The major players of market include Omada Health, Inc., Livongo Health, Inc., 2Morrow, Inc., WellDoc, Inc., Fitbit Inc., Propeller Health, Noom, Inc., Canary Health, Pear Therapeutics, Mango Health, among others.

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