Recent advances in information technology and biomedical science have enabled the development of several versatile digital solutions that are capable of either mimicking or augmenting, the fundamental qualities of pharmacological interventions. According to experts, digital therapeutic solutions are primarily based on behavior modification and are designed to address a variety of therapeutic needs across a wide range of disease indications. On the other hand, several digital solutions have been developed to enable remote doctor-patient consultations. Such solutions have seen a surge in adoption amid the COVID-19 pandemic.
Roots Analysis has the addition of "Digital Health Market: Focus on Digital Therapy (2nd Edition), 2020-2030 (based on solution type (software solution, gaming solution and combined solution), type of therapy (curative and preventive), and purpose of solution (drug replacement and drug augmentation) in your offer list.
The report includes input from key industry stakeholders that due to their broader applicability, remote guidance and other advanced capabilities, digital therapeutic solutions are likely to see increasing adoption and offer lucrative opportunities to their client’s developers. The report includes detailed transcripts of discussions with the following industry experts: Eran Ofir (Co-Founder and Chief Executive Officer, Somatix)
· Edouard Gasser (Co-Founder and Chief Executive Officer, Tilak Healthcare)
· Stephanie Tilenius (Co-Founder and Chief Executive Officer, Vida Health)
· Adam Kaufman (Chief Executive Officer, Canary Health)
· Vijay Ravindran (Chief Executive Officer, Floreo)
· Palakh R Sarogi (Vice President, Marketing, Wellthy Therapeutics), Arani Sarkra (Senior Manager, Consumer Marketing, Wellthy Therapeutics) and Yolande D’Mello (Marketing and Public Relations, Wellthy Therapeutics)
· Amelie Janson (Communication Manager, Voluntis)
KEY MARKET INSIGHTS
Approximately 230 digital therapeutic solutions are currently available/under development
About 45% of the solutions are standalone software applications targeting more than 60 unique indications.
More than 85% of digital therapy solutions are intended to replace medication
These solutions are currently available or under development to treat neurological diseases (27%), mental health problems (24%) and certain metabolic disorders (24%). Alternatively, some digital health products are designed to augment the effects of traditional therapies and are currently being considered to treat substance use disorders and some mental health issues.
Since 2004, more than 220 clinical trials focusing on digital therapeutics have been registered
Nearly 80,000 patients have been enrolled in clinical research initiatives aimed at validating the effectiveness of digital therapies and providing practical evidence of their effectiveness and safety. About 50% of these studies have been or are being conducted in the United States.
Almost $1.9 billion invested in this area by public and private investors
85% of total capital raised for digital therapy-related initiatives came from venture capital investors with more than 370 participants.
North America and Europe are expected to capture more than 70% of the market share by 2030
The Asia-Pacific region market is expected to grow relatively faster (23.2%). By 2030, digital solutions targeting metabolic diseases are likely to account for the largest market share in terms of product sales revenue (26%), followed by mental health (20%) and neurological diseases (19%).
A detailed analysis of the different business models and marketing strategies of the companies operating in this field.
A Bowman Strategy Clock Framework for analyzing the competitive position of different companies in the market, considering the prices and characteristics of their products.
An insightful discussion on the impact of the COVID-19 pandemic on the overall Digital Therapeutic Solutions market and the key initiatives of the big pharma companies.
A discussion of related trends, key drivers and challenges within a SWOT framework that are likely to impact how the industry develops.
An informative analysis of recent Google trends between 2015 and 2020 (through July) and insights from breaking news articles on digital therapy solutions.
Association activities in this area have grown at a CAGR of ~42% between 2015 and 2019
More than 70% of reported deals were closed after 2017, with peak activity in 2019. The majority of cases captured in the report were focused on pilot product deals (29%) and research and development deals (twenty-one%).
Other key Highlights of the report -
- A detailed assessment of the current market landscape of companies engaged in the development of digital therapeutic solutions.
- A detailed product competitiveness analysis of key industry players for the most popular therapeutic areas taking into consideration the strength of product portfolio and key product specific parameters.
- Elaborate profiles of key industry players that offer a several digital therapeutic solutions (shortlisted based on the product portfolio).
- An insightful competitiveness analysis featuring a four-dimensional bubble chart, highlighting the key players in this domain.
- A detailed analysis of more than 220 completed, ongoing and planned clinical studies of various digital therapeutic solutions, based on the several relevant parameters.
The report answers a wide spectrum of questions, few among the top-rated questions answered are as following:
Ø Who are the leading players engaged in the development of digital therapeutic solutions?
Ø What are the most popular therapeutic areas addressed by digital health solutions?
Ø What are the key factors influencing the price of digital therapeutics?
Ø What is the trend of capital investments in the digital therapeutics market?
Ø Which partnership models are commonly adopted by stakeholders in this industry?
Ø What type of marketing strategies are being adopted by developers in this domain?
Ø How is the COVID-19 pandemic likely to impact the digital therapeutics market?
Ø What is the trend in capital investments in the digital therapeutics market?
Ø How is the current and future opportunity likely to be distributed across key market segments?
Ø What are the anticipated future trends related to digital therapeutics?
