The Europe digital therapeutics market was valued at $503.48 million in 2018 and is expected to reach $2,274.03 million by 2026 with a CAGR of 20.6% during the forecast period.
Digital therapeutics provides evidence-based therapeutic interventions to patients. It is driven by software programs and devices to prevent, manage, or treat a medical condition. Digital therapeutics software application can be used independently or in combination with devices, medications, or any other therapies to provide patient care and health outcomes. These products incorporate advanced technology, best practices regarding the design, usability, clinical validation, and data security.
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These products are reviewed and approved by regulatory bodies before use. Furthermore, digital therapeutics empower patients, healthcare providers, and payers with intelligent and accessible tools for addressing a wide range of conditions through high quality, safe, and effective data-driven interventions.
Increase in adoption of smartphones and tablets coupled with healthcare apps, growth in need to control healthcare cost, and rise in incidence of chronic diseases drive the growth of the Europe digital therapeutics market. However, lack of awareness regarding digital therapeutics in developing countries and patient data privacy concerns restrain the market growth. The impact of the driving factors is expected to surpass that of the restraints. Hence, the market is projected to grow at a CAGR of 20.6% from 2019 to 2026. On the contrary, emerging markets are anticipated to offer significant growth opportunities for the market players in the future.
The Europe digital therapeutics market is segmented into application, product type, sales channel, and region. By application, it is divided into diabetes, obesity, cardio vascular diseases (CVD), central nervous system (CNS) disease, respiratory diseases, smoking cessation, gastrointestinal disorders, and others. By product type, it is classified into software and devices. Further, on the basis of sales channel, it is bifurcated into business-to-business (B2B) and business-to-consumers (B2C). Furthermore, business-to-business (B2B) is categorized into employers, healthcare providers, and others. By business-to-consumers, it is classified into patients and caregivers. Region wise, it is analyzed across UK, Germany, France, Italy, Spain, Russia, and Rest of Europe.
KEY BENEFITS FOR STAKEHOLDERS
– This report provides a detailed quantitative analysis of the current market trends and future estimations from 2018 to 2026, which assists to identify the prevailing market opportunities.
– An in-depth analysis of Europe regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate this region-specific plans.
– A comprehensive analysis of the factors that drive and restrain the growth of the Europe digital therapeutics market is provided.
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KEY MARKET SEGMENTS
– By Application
o Cardiovascular Disease (CVD)
o Central Nervous System (CNS) Disease
o Respiratory Disease
o Smoking Cessation
o Gastrointestinal Disorder (GID)
– By Product Type
– By Product Type
o Business-to-Business (B2B)
– Healthcare Provider
o Business-to-Consumer (B2C)
– By Country
o Rest of Europe
KEY MARKET PLAYERS
– Fitbit, Inc. (Twine Health, Inc.)
– Medtronic Plc.
– Novartis International AG (Pear Therapeutics, Inc.)
– Resmed, Inc. (Propeller Health)
– Voluntis, Inc.
– Ada Health GmbH
– Cognifit ltd
– Caterna Vision GmbH
– Sonormed GmbH
– Kaia Health
Contact Person: Sameer Joshi
Email Id: [email protected]
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