The Meteoric Rise of Digital Therapeutic, Monitoring and Diagnostic Solutions
Chronic disorders, such as diabetes, heart disease, obesity, mental health problems and insomnia, are considered to be the leading causes of death and disability across the world. According to a 2018 report published by the Center for Managing Chronic Disease at the University of Michigan, more than 50% of the global population currently lives with some form of chronic disease. Digital healthcare, a relatively new concept, is believed to possess the potential to address the rising concerns related to this growing socio-economic burden. Driven by the demand for self-management approaches, personalized healthcare solutions and customized treatment regimens made available in the home-care setting, digital health companies are presently engaged in developing several innovative solutions for therapeutic, surveillance and diagnostic use.
With the goal to manage rising monetary burden on healthcare systems worldwide, over 100 digital health companies, with innovative solutions, have surfaced recently
150+ digital solutions are being evaluated across various stages of development for diverse chronic diseases; most developers are based in North America.
Case-in-point: Metabolic disorders, being targeted by close to 30% of digital therapeutics, has emerged as the key focus area.
More than 50% of digital therapeutics are software applications, which are offered either as standalone solutions or in combination with a personal coach and / or a device.
Foreseeing the future potential, a total investment of close to USD 2.8 billion has been made into this domain since 2011.
70+ stakeholders have entered into collaborations with research institutes and big pharmaceutical companies to establish new standards for digital solutions
In the quest for an effective go-to-market strategy, players have focused on highlighting key features of their solutions across a range of marketing / distribution platforms.
With the opportunity spread across different therapeutic areas and distribution channels, the market for digital health solutions is anticipated to grow at a CAGR of over 15.4%.
Standalone software solutions are anticipated to lead the pack in the short-midterm; companies based in Asia-Pacific are expected to gradually gain a higher market share
To learn more, please click Digital Health Digital Therapeutic Diagnostics solutions market. For any queries / suggestions, please do not hesitate to contact us at sales@rootsanalysis.com.
Our Social Media Platform
Web: https://www.rootsanalysis.com/
AI Pathology: Key Trends and Opportunities
Oral Peptides and Proteins: The Growing Importance
TPD: A Major Therapeutic Modality in the Coming Decade
About Author
Arun_Gupta
Arun is an enthusiastic professional and has been associated with Roots Analysis since the very early years. He has led multifaceted roles over the years be it business research, consulting, competitive intelligence, IT & technology, sales and marketing. He currently drives strategic thinking and execution within the sales and marketing domain. With educational background in life sciences from Thapar University and digital marketing credentials from Indian School of Business, he has led a lot of critical initiatives at the organization. His background in life sciences has been one of the key reasons for quick understanding and implementation of customized marketing strategies. During his early years, he has led multiple consulting assignments for global clients ranging from competitive landscaping, deal structuring and preparing go-to-market strategy for his clients.