The Digital Therapeutics Global Market Report 2023 by The Business Research Company, provides digital therapeutics market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Digital Therapeutics Global Market Report 2023, the market size is expected to grow from$5.53 billion in 2022 to $6.93 billion in 2023 at a compound annual growth rate (CAGR) of 25.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the digital therapeutics market is expected to grow to $17.19 billion in 2027 at a CAGR of 25.5%.The increase in use of smartphones and tablets, coupled with healthcare apps, is expected to propel the growth of the digital therapeutics market in the forecast period. Smartphones and tablet-based healthcare apps have numerous advantages over the lower rate of medication errors, facilitating preventive care, and more accurate staffing.
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The digital therapeutics market is segmented:
1) By Product: Software, Devices
2) By Sales Channel: Business-To-Business (B2B), Business-To-Consumers (B2C)
3) By Application: Preventive Applications, Treatment Or Care-Related Applications
Technological innovation is an emerging trend gaining popularity in the digital therapeutics market. Major companies operating in the market are focused on developing technologically advanced solutions for digital therapeutics to strengthen their position. For instance, in 2020, Boehringer Ingelheim, a Germany-based pharmaceutical company, and Click Pharmaceuticals, a US-based prescription digital therapeutics business, have agreed to collaborate on the development and commercialization of a digital medication for schizophrenia patients worth more than $500 million. The treatment named CT-155 will be a mobile app developed on click’s technology platform, according to the company.
The digital therapeutics market report table of contents includes:
1. Executive Summary
2. Digital Therapeutics Market Characteristics
3. Digital Therapeutics Market Trends And Strategies
4. Digital Therapeutics Market – Macro Economic Scenario
5. COVID-19 Impact On Digital Therapeutics Market
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26. Africa Digital Therapeutics Market
27. Digital Therapeutics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Digital Therapeutics Market
29. Digital Therapeutics Market Future Outlook and Potential Analysis
30. Appendix
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