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US Digital Therapeutics Market, Forecast to 2023

US Digital Therapeutics Market, Forecast to 2023

  • May 2018
  • 143 pages
  • ID: 5436748
  • Format: PDF
  • Frost & Sullivan

Summary

Table of Contents

Many New Services Evolving from Digital Health and mHealth are Expected to Drive Growth, Reduce Healthcare Costs, and Improve Patient Outcomes
Digital therapeutics are about to become a true medical alternative that will utilize communications-based technologies, apps, and software to improve patient outcomes and help to lower the cost of healthcare. The overall digital therapeutics market is expected to grow at a compound annual growth rate of 30.7% from 2017 to 2023.

This report emphasizes the importance of clearly defining the term "digital therapeutics." In many areas of the evolving healthcare market, an important facet of understanding opportunity and strategy is effective definition and scoping of new terminology and concepts. Frost & Sullivan reviews data that illustrate there is often an inconsistent definition of the term as well as the companies that are participating in this early market. The research reveals that there is a much smaller segment of the digital therapeutics market devoted to pure play participants that are developing true therapeutic solutions that will provide a medical-grade benefit to patients. The pure play market will require considerable research and development in partnership with pharmaceutical companies, and a US Food and Drug Administration certification for safety and efficacy after a clinical trial.

Frost & Sullivan predicts that the digital therapeutics market will attract the interests of medical device companies, pharmaceutical industry participants, and investors. It is reasonable to foresee that several of the larger, established healthcare companies will carefully monitor progress in this space and make strategic moves as the smaller, new entrants demonstrate successful outcomes following randomized clinical trials.

Research Scope
The objective of this research service is to present an analysis of the US digital therapeutics market with respect to key market dynamics at play through 2023 and showcase select areas of opportunity in a landscape of related segments. The study describes and defines the digital therapeutics market and enabling technology; covers factors driving the need to deploy this emerging solution to enable improved patient outcome-based drug replacement, drug augmentation, and interactive communications platforms across a variety of specialties; examines challenges impacting the market; presents an outlook for the adoption of digital therapeutic services among key customer segments; presents Frost & Sullivan forecasts for overall market growth; and looks at opportunities in the total market and key market segments as estimated for the forecast period.

Key Issues Addressed
• What are pure play digital therapeutic services, and how are these solutions being deployed to patients, healthcare payers, employer plans, hospitals and physicians?
• What are the market-shifting macro trends affecting the need to deploy new digital therapeutic solutions to enable patients to achieve quality care in a variety of settings?
• What companies have a presence in the digital therapeutics market, either as pure play participants or within the wider view of the market?
• What are the segments of the digital therapeutics and digital health-related market, and which ones offer the best opportunities for growth?
• What is the 6-year revenue outlook for the digital therapeutics market and the major segments?

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