Digiceuticals Market Size & Share. by Use (Smartphone, Watches, Medical Device System); Application (Diabetes Management, Substance Abuse, Pulmonary Diseases, Alcohol and Smoking Addiction, Neurological Disorders); Distribution Channel (Hospitals, Specialty clinics) - Global Supply & Demand Analysis & Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5540
  • Published Date: Jan 16, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Digiceuticals Market size is poised to reach USD 115 Billion by the end of 2036, growing at a CAGR of 33% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of digiceuticals was USD 5 Billion. Chronic diseases such as diabetes, cardiovascular diseases, and respiratory disorders are becoming more prevalent. Over 21% of the elderly population in India is said to be affected by at least one chronic disease. In rural areas around 17% of the elderly experience chronic diseases while in urban areas this number goes, up to 29%. Hypertension and diabetes together make up 68% of all chronic ailments. Continuous monitoring and management of these diseases is crucial. Digital health technologies, including Digiceuticals, can facilitate the monitoring and management of chronic diseases. Digiceuticals can provide remote monitoring and tracking of vital signs, such as blood pressure, heart rate, and glucose levels, as well as provide personalized advice on how to manage chronic diseases. They also provide convenient access to healthcare professionals, which can help ensure that patients receive timely advice and care.

Rising consumer awareness and demand for personalized healthcare has contributed to the increased demand for digiceuticals. Consumers are becoming more proactive in managing their health and are seeking personalized solutions. Digiceuticals offer personalized treatment plans and interventions based on individual health data.


Digiceuticals Market
Get more information on this report: Request Free Sample PDF


Digiceuticals Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~33%

Base Year Market Size (2023)

~ USD 5 Billion

Forecast Year Market Size (2036)

~ USD 115 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Digiceuticals Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Increasing Adoption of Wearable Technology:  Wearable technology have revolutionized the healthcare industry by providing real-time health monitoring and tracking capabilities. These devices, such as smartwatches and fitness trackers, enable individuals to monitor their vital signs, activity levels, and sleep patterns, empowering them to take control of their health and well-being. According to a study over 22% of Americans make use of smartwatches or wearable fitness trackers. In the year 2019 consumers in the United States purchased, over 52 million units of fitness trackers, including both smartwatches and fitness bands.
  • Rise in Use of Mobile Health Apps: Mobile health apps have become increasingly popular as a tool for managing health and wellness. As of 2019 over 2.6 billion individuals across the globe possessed smartphones, with a staggering 52% of them having mobile health applications installed on their devices. These apps allow users to track their exercise, monitor their diet, and receive personalized health recommendations. They also provide access to a wealth of health information and resources, making it easier for individuals to make informed decisions about their health. As people are increasingly relying on their mobile devices for health information, there has been a rise in the use of mobile health apps. This has enabled the development of digital therapeutics, which are apps that are designed to help people with chronic illnesses manage their symptoms.
  • The Rising Popularity of Remote Patient Monitoring (RPM) Systems: Remote patient monitoring systems enable healthcare providers to remotely monitor and manage patients' health conditions. A thorough study revealed that patient involvement increased when using Remote Patient Monitoring (RPM). The study involved than 7,000 patients from 42 different states and the results indicated that patient engagement, with digital RPM tools reached an impressive rate of 82%. These systems use connected devices to collect and transmit patient data, allowing healthcare professionals to track vital signs, detect early warning signs, and intervene when necessary. With the rising cost of healthcare, mobile remote patient monitoring systems are becoming increasingly popular as they allow for remote monitoring of patients, reducing the need for in-person visits and allowing for more cost-effective care. This rise in the use of mobile remote patient monitoring systems is driving the growth of the digiceuticals market.

Challenges

  • Regulatory Challenges: The digiceuticals industry is heavily regulated, with strict guidelines governing the development and marketing of digital health products. This can create significant barriers to entry for new companies and limit innovation in the industry.
  • The lack of standardization and interoperability between different  digital platforms
  • Data security and privacy concerns.


Digiceuticals Segmentation

Use (Smart phone, Watches, Medical Device System)

The smartphone segment in the digiceuticals market is estimated to gain the largest revenue share of about ~38% in the year 2036. Smartphone users are increasingly relying on their phones for accessing health information, tracking their health data, and scheduling appointments. Additionally, smartphones are becoming increasingly equipped with health sensors such as such as accelerometers, gyroscopes, heart rate monitors, and even pulse oximeters, enabling users to measure vital signs such as heart rate and blood pressure. This is because many smartphone manufacturers are now focusing on health features in order to provide users with a more comprehensive health experience. As such, smartphones are becoming an important tool for tracking and managing health, as well as providing users with personalized health advice.

Application (Diabetes Management, Substance Abuse, Pulmonary Diseases, Alcohol and Smoking Addiction, Neurological Disorders)

Digiceuticals market from the diabetes management segment is estimated to gain the significant share of about ~29% in the year 2036. The segment growth can be attributed to the increasing prevalence of diabetes, growing awareness about preventive measures, and rising government initiatives to provide better healthcare facilities for diabetic patients. According to IDF projections it is estimated that by 2045 around 783 million adults, which is one in eight individuals will live with diabetes. This represents a 46% increase. It is interesting to note that over 90% of diabetes patients are specifically diagnosed with type 2 diabetes. Diabetes management requires regular monitoring of blood sugar levels and adjustment of medication accordingly. Digiceuticals allow people with diabetes to track their blood sugar levels remotely and alert them if they need to adjust their medication.

Our in-depth analysis of the digiceuticals market includes the following segments:

            Use

  • Smart phone
  • Watches
  • Medical Device System

            Application

  • Diabetes Management
  • Substance Abuse
  • Pulmonary Diseases
  • Alcohol And Smoking Addiction
  • Neurological Disorders

            Distribution Channel

  • Hospitals
  • Specialty clinics

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Digiceuticals Industry - Regional Synopsis

North America Market Forecast

Digiceuticals market in North America is anticipated to hold the largest with a share of about ~31% by the end of 2036. The market growth in the region is also expected on account of the rising prevalence of chronic diseases, the rising adoption of digital health technologies, the increasing investments by venture capitalists in healthcare innovation, and the growing acceptance of digital therapeutics by healthcare professionals. Moreover, the Food and Drug Administration has approved a growing number of digiceuticals, as treatments that doctors can prescribe. This also enables these treatments to be covered by health plans. An example of an FDA approved app is reSET O which offers therapy sessions for individuals struggling with opioid addiction. These sessions are conducted under clinician supervision. ReSET O is currently used in substance abuse facilities throughout the country.

APAC Market Analysis

The Asia Pacific digiceuticals market is estimated to be the second largest, registering a share of about ~27% by the end of 2036. Rising prevalence of lifestyle-related diseases, growing awareness about the importance of preventive healthcare, and increasing government initiatives to promote the use of digital health solutions are the main factors driving the growth of the Asia Pacific digiceuticals market. For instance, in May 2020 the National Health Commission (NHC) of the People's Republic of China urged governments to create their own online regulatory systems. These platforms would monitor and supervise online healthcare providers as well as expedite the entry of internet-based hospitals into the market.

Research Nester
Digiceuticals Market size
Get more information on this report: Request Free Sample PDF

Top Featured Companies Dominating the Digiceuticals Market

top-features-companies
    • Pear therapeutics Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Akili Interactive Labs, Inc.
    • Chrono Therapeutics Inc.
    • Click Therapeutics 
    • Omada Health 
    • Canary Health, Inc. 
    • Glooko, Inc.  
    • Propeller helath
    • Novartis AG
    • Welldoc
    • Voluntis

In-the-news

In The News

  • Akili Interactive, a company in the field of digital medicine that focuses on developing cognitive treatments using innovative technologies has recently announced its plans to go public. This will be achieved through a merger, with Social Capital Suvretta Holdings Corp., which's a special purpose acquisition company.
  • Omada Health Inc. introduced two resources designed to support individuals, with chronic conditions by providing personalized care options and reducing their financial burden.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5540
  • Published Date: Jan 16, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growth of the digiceuticals market is being driven by several factors, such as the rising popularity of digital health technologies, the increasing need for personalized healthcare, the increasing prevalence of chronic diseases, and the rising cost of traditional healthcare.

The market size of digiceuticals is anticipated to attain a CAGR of 33% over the forecast period, i.e., 2024-2036.

The major players in the market are Pear therapeutics Inc., Akili Interactive Labs, Inc., Chrono Therapeutics Inc., Click Therapeutics, Omada Health, Canary Health, Inc., Glooko, Inc., Propeller helath, Welldoc, Voluntis, and others.

The smartphone segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Digiceuticals Market Report Scope
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying