The Europe digital therapeutics market size was valued at $0.50 billion in 2018 and is projected to reach $2.27 billion by 2026, growing at a CAGR of 20.6%.

PORTLAND, OREGON, UNITED STATES, August 17, 2022 /EINPresswire.com/ -- Comprehensive analyzes of the fastest-growing Europe Digital Therapeutics Market provide insights that help stakeholders identify opportunities and challenges. The markets of 2022 could be another significant year for Europe Digital Therapeutics. This report provides insight into the company’s activities and financial condition (a company profile is required if you wish to raise capital or attract investors), recent developments (mergers and acquisitions), and recent SWOT analyses. This report focuses on the Europe Digital Therapeutics market over the 2026 assessment period.

The Europe digital therapeutics market size was valued at $0.50 billion in 2018 and is expected to reach $2.27 billion by 2026 with a CAGR of 20.6% during the forecast period.

“The Europe digital therapeutics market is expected to grow at a faster rate during the forecast period, owing to increase in smart phone penetration. Moreover, rise in need to curb healthcare costs and increase in prevalence of chronic diseases are anticipated to supplement the market growth.”

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Digital therapeutics is a subset of digital health, which delivers evidence-based therapeutic interventions to patients by software programs and devices to manage, prevent, and treat medical disorders. It utilizes digital and online health technologies to treat medical and psychological conditions. In addition, software applications help patients and physicians to track health data by tracking patient behavior. Moreover, digital therapeutics provides remote monitoring to improve long-term health problems.According to European Chronic Disease Alliance (ECDA), 85% of deaths in the European Union (EU) occur due to chronic diseases, including cardiovascular disease, cancer, diabetes, chronic respiratory disease, and mental illness. In addition, these chronic illnesses cost European economy around $124 billion a year. Whereas, digital therapeutics helps in lowering these healthcare costs. Moreover, digital therapeutics products can drive down a company’s health care costs by lowering usage of health insurance plans for acute problems.

Rise in utilization of smart devices and smartphones&tablets coupled with increase in incidenceof chronic diseases boosts the growth of the Europe digital therapeutics market. However, lack of awareness toward healthcare-associated applications and increase in concerns regarding patient data restrict the market growth. Conversely, high growth potential in the emerging markets offers lucrative opportunities for key market players operating in this segment.

Based on Application, Europe Digital Therapeutics Market is segmented into Diabetes, Obesity, Cardiovascular Disease (CVD), Central Nervous System (CNS) Disease, Respiratory Disease, Smoking Cessation, Gastrointestinal Disorder (GID), and Others. Depending upon product Type, the market is divided into software and device. By sales channel, the market is bifurcated into business-to-business (B2B) and business-to-consumer (B2C). Region wise, the market is studies across European countries including, UK, Germany, France, Italy, Spain, Russia, and Rest of Europe.

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Key Findings Of The Study

Software is expected to be one of the most lucrative segments,registering a CAGR of 20.8% during the forecast period.

The business-to-consumers (B2C)segmentaccounted for maximum share in the Europe market in 2018, and is expected to grow at a CAGR of 21.1% during the forecast period.

UKdominated the Europedigital therapeutics market, and is projected to retain this trend throughout the forecast period.

Diabetes is accounted for the maximum share in 2018, in Europe, with registering a CAGR of 22.6% during the forecast period.

The key players operating in the Europe digital therapeutics market are Ada Health GmbH, CogniFit, Caterna Vision GmbH, Fitbit, Inc. (Twine Health, Inc.), Kaia Health, Medtronic Plc., Novartis International AG (Pear Therapeutics, Inc.), ResMed, Inc. (Propeller Health), Sonormed GmbH, and Voluntis, Inc.
The other players in the value chain include (profiles not included in the report)GlaxoSmithKline, Veeva Systems, and Syneos Health.

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