The number of people aged 60 years or above is increasing day by day. According to the United Nations Department of Economic and Social Affairs report on the worldwide aging population, the global percentage of geriatric population is predicted to reach 21.1% by 2050, increasing from 11.7% in 2017. Moreover, by 2050, the number of old age people is projected to reach about 324 million in India, 437 million in China, 58 million in Brazil, and 107 million in the U.S. by 2050. Due to weakened body functions, aged people are more susceptible to diseases and often need to go checkups in order to maintain their health.
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This however is not always convenient for old people, owing to which, the demand for alternate solutions, such as digital therapeutics is increasing swiftly. Digital therapeutics provide therapeutic interventions, which are driven by enhanced software programs for managing, preventing, or treating diseases, to patients. The technology can be utilized independently or along with devices, medication, or other therapies for optimizing patient care and enhancing health outcomes. Attributed to these factors, the global digital therapeutics market size is expected to advance at a considerable rate in the years to come.
Digital therapeutics, also known as software-as-a-drug, is offered via smart devices in order to boost healthy behaviors. This digital system is cost effective and further has the potential to enhance patient engagement and bring significant positive changes in patient health. Digital therapeutics is majorly prescribed for helping and managing long term conditions, including asthma, insomnia, and diabetes. Because of the advantages of these solutions, governments of several countries are increasingly taking initiatives for reinforcing the implementation and development of digital therapeutics solutions. These solutions particularly aim at patient education improvement skills and self-management for encouraging healthy lifestyle of an individual.
In conclusion, the demand for digital therapeutic solutions is increasing due to the growing geriatric population and rising government initiatives across the globe.
This study covers
- Historical and the present size
of the digital therapeutic market
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings
