The global digital therapeutic devices market is divided among a large number of players that features stiff competition, notes a fresh market study by Transparency Market Research (TMR). Going ahead, the competitive scenario is likely to intensify as more and more medical device companies make a foray into this market with their technological expertise. However, some of the companies hold a strong foothold than the rest in the global digital therapeutics devices market, namely Proteus Digital Health, WellDoc Inc., Noom Inc., Propeller Health, Canary Health, BiogeniQ Inc., Glooko Inc., Claritas MindSciences, Nanobiosys Inc., Jintronix Inc., Zest Health LLC, HealthMine Inc., BioTelemetry Inc., Digital Therapeutics, Omada Health Inc., Livongo Health, Ginger.io, Inc., 2Morrow Inc., Mango Health, Twine Health Inc., Firstbeat Technologies Ltd, Big Health, Dthera Sciences, Virta Health Corp, Meru Health Inc., Pear Therapeutics Inc., and Blue Mesa.
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“Partnerships and collaborations are what leading players in the market are focused on to enhance their technical expertise and deliver novel solutions,” explains the author of the study. For instance, in January 2017, Glooko announced a partnership with Ascensia Diabetes Care to deliver diabetes technology data solutions. Established players are also focusing on emerging economies in Asia Pacific that display a substantially high demand for digital therapeutic devices
As per estimates presented by a TMR report, the demand in the global digital therapeutic devices market will expand at an impressive 15.6% CAGR during the forecast period between 2017 and 2025. The market for digital therapeutic devices is estimated to touch a revenue valuation of US$2,082.3 mn by 2025-end, substantially up from its evaluated worth of US$590.8 mn in 2016.
Amongst the key product segments, insulin pumps held the leading market share in 2016 due to increasing prevalence of diabetes. Geography-wise, North America dominated the global digital therapeutic devices market in 2016.