The global digital therapeutics market is expected to reach USD 9.3 billion by 2025, according to a new report by Grand View Research, Inc. Digital therapeutics, known as software-as-a-drug, has undergone significant developments, because of its cost-effectiveness and the potential to influence human behavior – a challenge that is difficult to overcome in healthcare. A shifting technological landscape worldwide has led to significant boost in smartphone ownership and usage rates, which is anticipated to impact the market positively. Other factors expected to influence growth of the market are rising occurrence of chronic diseases, increasing attention on preventive healthcare and an emerging need to control healthcare costs.
Digital therapeutics holds exciting prospects in terms of unrealized potential. With a shift to value-based, patient-centric healthcare system, and increasing reforms by the government to cut down healthcare costs, it is anticipated that the market will witness lucrative growth evident from a growing number of new startup companies in the market. Although investments in the digital therapeutics field are increasing, still application developers are dissuaded by the lack of monetizing opportunities besides paid downloads and advertising. Furthermore, developing countries are expected to have a lackluster response for digital therapeutics due to lack of proper technological infrastructure and lack of adequate research and development (R&D) and capital investments.
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Further key findings from the study suggest:
Grand View Research has segmented the digital therapeutics market on the basis of application, end use, and region:
Application Outlook (Revenue, USD Million; 2014 - 2025)
End Use Outlook (Revenue, USD Million; 2014 - 2025)
Regional Outlook (Revenue, USD Million; 2014- 2025)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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