It’s not a blunder to say that the path to digital transformation has been paved ever since information and data were seen as a resource. Add the creation of the internet and the innovation of the 21st century to the mix, voila! You have got a dynamic market that thrives by updating with the trend.
Though digital transformation is the recent trend in the business world, it should not be seen as a mere trend, but a beginning of something bigger.
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In the current world, every business is subject to new competitors, expectations, channels, opportunities, and threats.
All businesses have the potential to become digital businesses.As the number of connected, smart devices from phones to wearables to cars are increasing, companies that reap information from market interactions, quickly deliver the digitally instrumented services or products and use insights to optimize their value chain are able to gain competitive advantage.The world is moving aggressively towards being digital.
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According to research report, the global digital therapeutics market is projected to reach USD 6.9 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 26.7% during the forecast period (2020–2025).The growth of the digital therapeutics market is primarily driven by factors such as government initiatives for preventive healthcare, technological advancements in mobile healthcare, a significant increase in venture capital investments, and the benefits of digital therapeutics, such as the ability to induce behavioral change (an important challenge in healthcare), user-friendliness, patient convenience, and improved drug compliance.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=51646724North America accounted for the largest share of the digital therapeutics market in 2019The global digital therapeutics market is segmented into North America, Europe, the Asia Pacific, and the RoW.
In 2019, North America (US and Canada) held the largest share of the market, followed by Europe.
The major factors supporting market growth include the increasing investments in digital therapeutics, the influx of new start-ups, improvements in the reimbursement structure for digital therapeutics, and government initiatives to support technological advancements.Get 10% FREE Customization on This Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=51646724Based on the sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B).
In 2019, the B2B segment accounted for the largest market share; it is also expected to grow at the highest CAGR of the digital therapeutics market.
There is growing awareness among providers, payers, and employers about the benefits provided by digital therapeutics and the healthcare cost reductions achieved by their use.Based on the type of buyer, the B2C sales channel market is further segmented into patients and caregivers.
The caregivers segment is expected to dominate the market and register the highest CAGR during the forecast period.
