Digital Therapeutics Market Trends Report & Size Analysis 2028
[Research Report] The digital therapeutics market size was valued at US$ 4,226.94 million in 2021 and is projected to reach US$ 18,061.79 million by 2028; it is estimated to register a CAGR of 23.1% from 2022 to 2028.
Analyst’s ViewPoint
The market is likely to be driven by rising smartphone prevalence in developed and emerging nations, the cost-effectiveness of digital health technology for providers and patients, and rising demand for integrated healthcare systems and patient-centric treatment. According to Kepios, there will be 4.27 billion internet users worldwide in April 2021, accounting for more than 60% of the global population. As this number increases, awareness about smart health tracking is expected to improve. Consumers in developed economies are becoming more aware of innovative medical items for treatment of medical disorders. According to the Organisation for Economic Cooperation and Development, healthcare spending as a proportion of GDP climbed significantly in 2020, as the economic condition in several OECD nations worsened and health spending increased. As a result, the preference has shifted towards advanced medical services, including the increased demand for advanced therapeutic devices. Product acceptance is another aspect driving market expansion.
Market Overview
Digital therapeutics provide evidence-based therapeutic intrusions to patients that focus on the treatment of diseases with programs, and management using high-quality software. Digital therapeutics have made progress in the last few years, harnessing technology the supplement or potentially replace traditional clinical therapy. They are used independently or in concert with devices, medications, or other therapies for the optimization of patient care and health outcomes. The key factors contributing to the growth of the digital therapeutics market is the rising prevalence of chronic diseases, concerns regarding the need to reduce healthcare costs, and partnerships and collaborations by companies. However, the growth of the market is hindered by the cyber threat and rise in data security, which limits its potential applications in the medical field.
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Digital Therapeutics Market: Strategic Insights
Market Size Value in US$ 4,226.94 million in 2021 Market Size Value by US$ 18,061.79 million by 2028 Growth rate CAGR of 23.1% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Digital Therapeutics Market: Strategic Insights
| Market Size Value in | US$ 4,226.94 million in 2021 |
| Market Size Value by | US$ 18,061.79 million by 2028 |
| Growth rate | CAGR of 23.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Market Driver
Rising Prevalence of Chronic Diseases to Drive the Digital Therapeutics Market Growth
Chronic diseases, including heart disease, stroke, diabetes, and obesity, account for most of the healthcare costs of any country. According to a report by the World Health Organization (WHO), 463 million adults in the world had diabetes in 2020, and the number is expected to rise to 629 million by 2045. Asia Pacific, Europe, and the Middle East and Africa report a high prevalence of diabetes. The disease is mainly characterized by the inadequate regulation of blood glucose levels due to the body’s inability to produce or effectively utilize the hormone insulin, and has no specialized cure. According to the IDF Diabetes Atlas 2021, published by the International Diabetes Federation, North America reported ~51 million people living with diabetes by 2021, and the number is expected to reach 63 million by 2045. In addition, Southeast Asia records ~16.8% of the global population of diabetic people. By 2035, ~130 million adults in the US population are projected to suffer from some form of CVDs.
The obesity rates are increasing rapidly in developed and developing economies in the world due to sedentary and unhealthy lifestyles. As per data published by the Organization for Economic Co-operation (OECD) in 2017, ~19.5% of the adult population was obese in OECD area. This rate is less than 6% in Korea and Japan, and more than 30% in Hungary, New Zealand, Mexico, and the US. Moreover, the prevalence has increased rapidly in Australia, Canada, Chile, South Africa, and the UK in the last decade, with ~25% or more adults being obese. Obesity levels are anticipated to reach ~47%, ~39%, and ~35% in the US, Mexico, and England, respectively, by 2030.
In order to enhance chronic disease management and offer more treatment options to patients, digital therapeutics help to deliver evidence-based therapeutic solutions. It enable patients to better control their care and provides potential solutions for chronic diseases management, such as diabetes. Hence, the rise in the prevalence of chronic diseases is driving the digital therapeutics market.
Segmental Analysis
Application-Based Insights
Based on application, the digital therapeutics market is segmented into respiratory diseases, central nervous system diseases, smoking cessation, musculoskeletal disease, cardiovascular diseases, diabetes, and other applications. In 2021, the diabetes segment held the largest digital therapeutics market share and the same segment is anticipated to register the highest CAGR of in the market during the forecast period due to increasing incidences of diabetes across the globe, high prevalence of obesity in developing countries, and significant risks and economic costs associated with obesity-related diseases.
Diabetes is a life-threatening chronic disease with no specialized cure. It is mainly caused by the body’s inability to produce or effectively utilize the hormone insulin. This inability prevents the body from adequately regulating blood glucose levels. There are two types of diabetes namely diabetes type-I also known as diabetes insipidus and diabetes type-II also termed as diabetes mellitus. Incidences and prevalence of diabetes is steadily increasing across the globe. Type 2 diabetes is the most prevalent form of diabetes and has increased alongside cultural and societal changes. In high-income countries up to 91% of adults with the disease have type 2 diabetes. According to International Diabetes Federation (IDF) Atlas 2021, approximately 537 million people are living with diabetes and it is expected to reach 643 million by 2030 across the globe.
Distribution Channel-Based Insights
In terms of distribution channel, the digital therapeutics market is categorized into patients, providers, payers, and employers. The patients segment held the largest digital therapeutics market share in 2021. However, the provider segment is anticipated to register the highest CAGR during the forecast period.
Digital Therapeutics Market Report Scope
Regional Analysis
North America held the largest market share for the digital therapeutics market in 2021 and expected to retain its market position during the forecast period. The factors enabling the North American market growth include the increasing need to reduce healthcare cost, stringent healthcare regulations, growing competition in the healthcare industry, and rapid technological innovations. Moreover, the presence of large healthcare businesses and the growing usage of Digital Therapeutics is propelling the market's expansion in this region. In North America, the US records the maximum digital therapeutics market share. Digital healthcare is booming in US and a number of factors such as ageing population, rising prevalence of chronic diseases, regulatory changes and shift towards value based care is supporting this growing penetration of digital health in the day to day lives.
Propeller Health, Canary Health Inc., NOOM INC., 2Morrow Inc, Teladoc Health, Welldoc Inc, FITBIT Inc, OMADA Health, Mango Health, Pear Therapeutics Inc, and Happify Health are among the leading players operating in the global digital therapeutics market growth. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their market growth. A few developments are mentioned below:
- In November 2021, Pear Therapeutics, Inc. announced that it had received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) for its reSET-A PDT product candidate designed for the treatment of alcohol use disorder (AUD). reSET-A potentially expands Pear’s addiction franchise, including FDA-authorized products to treat substance use disorder (SUD) and opioid use disorder (OUD).
- In September 2020, Welldoc announced the receipt of its ninth 510(k) clearance from the Food and Drug Administration (FDA) for its award-winning diabetes platform, BlueStar. The new approval expands insulin dosing support to most types of insulin, including Bolus and Premixed Insulin titration for type 2 diabetes.
- In May 2021, Teladoc Health, Inc. announced the launch of myStrength Complete, an integrated mental health service providing personalized, targeted care to consumers in a single, comprehensive experience.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoAPAC, RoE, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global digital therapeutics market, based on application, is segmented into diabetes, cardiovascular diseases, central nervous system (CNS) disease, respiratory diseases, smoking cessation, musculoskeletal diseases, and others. The diabetes segment held the largest share of the market in 2021 and the same segment registered the highest CAGR during the forecast period.
Factors such as the rising prevalence of chronic diseases and the growing need to reduce healthcare costs are driving the digital therapeutics market. However, cyber threats and risks related to data security are hampering the market growth.
Digital therapeutics provide evidence-based therapeutic intrusions to patients that focus on the treatment of diseases with the programs by using the high-quality software. Digital therapeutics have made progress in the last few years, harnessing technology for the supplement or potentially replacing traditional clinical therapy. They are used independently or with devices and medications for the optimization of patient care and health outcomes.
The digital therapeutics market majorly consists of the players such as Propeller Health; Canary Health, Inc.; NOOM, INC.; 2Morrow, Inc.; Teladoc Health; Welldoc, Inc.; FITBIT, Inc.; OMADA Health; Mango Health; Pear Therapeutics, Inc.; and Happify Health.
1. Introduction 23
1.1 Scope of the Study. 23
1.2 The Insight Partners Research Report Guidance. 23
1.3 Market Segmentation. 24
1.3.1 Digital Therapeutics Market– By Application. 25
1.3.2 Digital Therapeutics Market– By Distribution Channel 25
1.3.3 Digital Therapeutics Market– By Geography. 26
2. Digital Therapeutics Market– Key Takeaways 28
3. Research Methodology 34
3.1 Coverage. 35
3.2 Secondary Research. 35
3.3 Primary Research. 35
4. Global Digital Therapeutics Market– Market Landscape 37
4.1 Overview. 37
4.2 PEST Analysis. 37
4.2.1 North America: PEST Analysis. 37
4.2.2 Europe: PEST Analysis. 38
4.2.3 Asia Pacific: PEST Analysis. 38
4.2.4 Middle East and Africa: PEST Analysis. 39
4.2.5 South and Central America: PEST Analysis. 39
4.3 Expert Opinion. 40
5. Digital Therapeutics Market– Key Market Dynamics 41
5.1 Market Drivers. 41
5.1.1 Rising Prevalence of Chronic Diseases. 41
5.1.2 Concerns Regarding Need to Reduce Healthcare Costs. 42
5.1.3 Partnerships and Collaborations by Companies. 42
5.2 Market Restraints. 43
5.2.1 Cyber Threat and Rise in Data Security. 43
5.3 Market Opportunities. 43
5.3.1 Large Population with Undiagnosed Conditions. 43
5.4 Future Trends. 44
5.4.1 Increasing Number of Start-Ups. 44
5.5 Impact analysis. 45
6. Digital Therapeutics Market– Global Analysis 46
6.1 Global Digital Therapeutics Market Revenue Forecast and Analysis. 46
6.2 Global Digital Therapeutics Market, By Geography - Forecast and Analysis. 47
6.3 Market Positioning of Key Players. 48
7. Digital Therapeutics Market Analysis – By Application 49
7.1 Overview. 49
7.2 Digital Therapeutics Market Revenue Share, by Application (2021 and 2028) 49
7.3 Diabetes. 50
7.3.1 Overview.. 50
7.3.2 Diabetes: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 50
7.3.3 Cardiovascular Disease. 51
7.3.3.1 Overview.. 51
7.3.3.2 Cardiovascular Disease: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 51
7.3.4 Central Nervous System Diseases. 52
7.3.4.1 Overview.. 52
7.3.4.2 Central Nervous System Diseases: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 52
7.3.5 Respiratory Diseases. 53
7.3.5.1 Overview.. 53
7.3.5.2 Respiratory Diseases: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 53
7.3.6 Smoking Cessation. 54
7.3.6.1 Overview.. 54
7.3.6.2 Smoking Cessation: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 54
7.3.7 Musculoskeletal Disorders. 55
7.3.7.1 Overview.. 55
7.3.7.2 Musculoskeletal Disorders: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 55
7.3.8 Others. 55
7.3.8.1 Overview.. 55
7.3.8.2 Others: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 56
8. Digital Therapeutics Market Analysis – By Distribution Channel 57
8.1 Overview. 57
8.2 Digital Therapeutics Market Revenue Share, by Distribution Channel (2021 and 2028) 57
8.3 Patients. 57
8.3.1 Overview.. 57
8.3.2 Patients: Digital Therapeutics Market– Revenue and Forecast to 2028 (US$ Million) 58
8.4 Providers. 59
8.4.1 Overview.. 59
8.4.2 Providers: Digital Therapeutics Market– Revenue and Forecast to 2028 (US$ Million) 59
8.5 Payers. 60
8.5.1 Overview.. 60
8.5.2 Payers: Digital Therapeutics Market– Revenue and Forecast to 2028 (US$ Million) 60
8.6 Employers. 61
8.6.1 Overview.. 61
8.6.2 Employers: Digital Therapeutics Market– Revenue and Forecast to 2028 (US$ Million) 61
9. Digital Therapeutics Market– Geographical Analysis 62
9.1 North America: Digital Therapeutics Market 62
9.1.1 Overview.. 62
9.1.2 North America: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 63
9.1.3 North America: Digital Therapeutics Market, by Application, 2019–2028 (US$ Million) 63
9.1.4 North America: Digital Therapeutics Market, by Distribution Channel, 2019–2028 (US$ Million) 64
9.1.5 North America: Digital Therapeutics Market, by Country, 2021 & 2028 (%) 64
9.1.5.1 US: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 64
9.1.5.1.1 Overview.. 64
9.1.5.1.2 US: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 65
9.1.5.1.3 US: Digital Therapeutics Market, by Application, 2019–2028 (US$ Million) 66
9.1.5.1.4 US: Digital Therapeutics Market, by Distribution Channel, 2019–2028 (US$ Million) 66
9.1.5.2 Canada: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 67
9.1.5.2.1 Overview.. 67
9.1.5.2.2 Canada: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 67
9.1.5.2.3 Canada: Digital Therapeutics Market, by Application, 2019–2028 (US$ Million) 68
9.1.5.2.4 Canada: Digital Therapeutics Market, by Distribution Channel, 2019–2028 (US$ Million) 69
9.1.5.3 Mexico: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 69
9.1.5.3.1 Overview.. 69
9.1.5.3.2 Mexico: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 70
9.1.5.3.3 Mexico: Digital Therapeutics Market, by Application, 2019–2028 (US$ Million) 70
9.1.5.3.4 Mexico: Digital Therapeutics Market, by Distribution Channel, 2019–2028 (US$ Million) 71
9.2 Europe: Digital Therapeutics Market 72
9.2.1 Overview.. 72
9.2.2 Europe: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 73
9.2.3 Europe: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million) 73
9.2.4 Europe: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million) 74
9.2.5 Europe: Digital Therapeutics Market, by Country, 2021 & 2028 (%) 74
9.2.5.1 Germany: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 74
9.2.5.1.1 Overview.. 74
9.2.5.1.2 Germany: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 75
9.2.5.1.3 Germany: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million) 76
9.2.5.1.4 Germany: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million) 76
9.2.5.2 France: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 77
9.2.5.2.1 Overview.. 77
9.2.5.2.2 France: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 77
9.2.5.2.3 France: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million) 78
9.2.5.2.4 France: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million) 78
9.2.5.3 UK: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 79
9.2.5.3.1 Overview.. 79
9.2.5.3.2 UK: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 79
9.2.5.3.3 UK: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million) 80
9.2.5.3.4 UK: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million) 81
9.2.5.4 Italy: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 81
9.2.5.4.1 Overview.. 81
9.2.5.4.2 Italy: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 82
9.2.5.4.3 Italy: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million) 82
9.2.5.4.4 Italy: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million) 83
9.2.5.5 Spain: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 83
9.2.5.5.1 Overview.. 83
9.2.5.5.2 Spain: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 84
9.2.5.5.3 Spain: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million) 84
9.2.5.5.4 Spain: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million) 85
9.2.5.6 Rest of Europe: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 85
9.2.5.6.1 Overview.. 85
9.2.5.6.2 Rest of Europe: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 86
9.2.5.6.3 Rest of Europe: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million) 86
9.2.5.6.4 Rest of Europe: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million) 87
9.3 Asia Pacific Digital Therapeutics Market Revenue and Forecasts To 2028. 88
9.3.1 Overview.. 88
9.3.2 Asia Pacific Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 89
9.3.3 Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 89
9.3.4 Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million) 90
9.3.5 Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028, By Country (%) 90
9.3.5.1 Japan: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 90
9.3.5.1.1 Overview.. 90
9.3.5.1.2 Japan: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 91
9.3.5.1.3 Japan: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 92
9.3.5.1.4 Japan: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million) 92
9.3.5.2 China: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 93
9.3.5.2.1 Overview.. 93
9.3.5.2.2 China: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 94
9.3.5.2.3 China: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 94
9.3.5.2.4 China: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million) 95
9.3.5.3 India Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 95
9.3.5.3.1 Overview.. 95
9.3.5.3.2 India: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 96
9.3.5.3.3 India: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 97
9.3.5.3.4 India: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million) 97
9.3.5.4 South Korea: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 98
9.3.5.4.1 Overview.. 98
9.3.5.4.2 South Korea: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 98
9.3.5.4.3 South Korea: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 99
9.3.5.4.4 South Korea: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million) 99
9.3.5.5 Australia: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 100
9.3.5.5.1 Overview.. 100
9.3.5.5.2 Australia: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 100
9.3.5.5.3 Australia: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 101
9.3.5.5.4 Australia: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million) 101
9.3.5.6 Rest of Asia Pacific: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 102
9.3.5.6.1 Overview.. 102
9.3.5.6.2 Rest of Asia Pacific: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million) 102
9.3.5.6.3 Rest of Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 103
9.3.5.6.4 Rest of Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million) 103
9.4 Middle East & Africa Digital Therapeutics Market Revenue and Forecasts To 2028. 104
9.4.1 Overview.. 104
9.4.2 Middle East & Africa Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 105
9.4.3 Middle East & Africa: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 105
9.4.4 Middle East & Africa: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million) 106
9.4.5 Middle East & Africa Digital Therapeutics Market Revenue and Forecasts to 2028, By Country (%) 106
9.4.5.1 UAE: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 106
9.4.5.1.1 Overview.. 106
9.4.5.1.2 UAE: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 107
9.4.5.1.3 UAE: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 107
9.4.5.1.4 UAE: Digital Therapeutics Market Revenue and Forecasts To 2028, By Distribution Channel (US$ Million) 108
9.4.5.2 Saudi Arabia: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 108
9.4.5.2.1 Overview.. 108
9.4.5.2.2 Saudi Arabia: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 109
9.4.5.2.3 Saudi Arabia: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 109
9.4.5.2.4 Saudi Arabia: Digital Therapeutics Market Revenue and Forecasts To 2028, By Distribution Channel (US$ Million) 110
9.4.5.3 South Africa: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 110
9.4.5.3.1 Overview.. 110
9.4.5.3.2 South Africa Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 111
9.4.5.3.3 South Africa: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 111
9.4.5.3.4 South Africa: Digital Therapeutics Market Revenue and Forecasts To 2028, By Distribution Channel (US$ Million) 112
9.4.5.4 Rest of Middle East and Africa: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 112
9.4.5.4.1 Overview.. 112
9.4.5.4.2 Rest of Middle East and Africa: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 113
9.4.5.4.3 Rest of Middle East & Africa: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 113
9.4.5.4.4 Rest of Middle East & Africa: Digital Therapeutics Market Revenue and Forecasts To 2028, By Distribution Channel (US$ Million) 114
9.5 South And Central America Digital Therapeutics Market Revenue and Forecasts To 2028. 115
9.5.1 Overview.. 115
9.5.2 South and Central America Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 116
9.5.3 South and Central America Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 116
9.5.4 South and Central America: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million) 117
9.5.5 South and Central America Digital Therapeutics Market Revenue and Forecasts to 2028, By Country (%) 117
9.5.5.1 Argentina Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 118
9.5.5.1.1 Overview.. 118
9.5.5.1.2 Argentina Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 118
9.5.5.1.3 Argentina: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 119
9.5.5.1.4 Argentina: Digital Therapeutics Market Revenue and Forecasts To 2028, By Distribution Channel (US$ Million) 119
9.5.5.2 Brazil: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 120
9.5.5.2.1 Overview.. 120
9.5.5.2.2 Brazil: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million) 121
9.5.5.2.3 Brazil: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 121
9.5.5.2.4 Brazil: Digital Therapeutics Market Revenue and Forecasts To 2028, By Distribution Channel (US$ Million) 122
9.5.5.3 Rest of South and Central America: Digital Therapeutics Market– Revenue and Forecast to 2028 (USD Mn) 122
9.5.5.3.1 Overview.. 122
9.5.5.3.2 Rest of South and Central America: Digital Therapeutics Market– Revenue and Forecast to 2028 (USD Mn) 123
9.5.5.3.3 Rest of South & Central America: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million) 123
9.5.5.3.4 Rest of South & Central America: Digital Therapeutics Market Revenue and Forecasts To 2028, By Distribution Channel (US$ Million) 124
10. Impact of COVID-19 Pandemic on Global Digital Therapeutics Market 125
10.1 North America: Impact Assessment of COVID-19 Pandemic. 125
10.2 Europe: Impact Assessment of COVID-19 Pandemic. 126
10.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic. 127
10.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic. 128
10.5 South and Central America: Impact Assessment of COVID-19 Pandemic. 129
11. Digital Therapeutics Market –Industry Landscape 130
11.1 Overview. 130
11.2 Growth Strategies in the Digital Therapeutics Market, 2021-2028. 130
11.3 Inorganic Growth Strategies. 131
11.3.1 Overview.. 131
11.4 Organic Growth Strategies. 133
11.4.1 Overview.. 133
12. Company Profiles 136
12.1 Propeller Health (ResMed) 136
12.1.1 Key Facts. 136
12.1.2 Business Description. 136
12.1.3 Products and Services. 136
12.1.4 Financial Overview.. 137
12.1.5 SWOT Analysis. 137
12.1.6 Key Developments. 137
12.2 Canary Health. 138
12.2.1 Key Facts. 138
12.2.2 Business Description. 138
12.2.3 Products and Services. 138
12.2.4 Financial Overview.. 138
12.2.5 SWOT Analysis. 139
12.2.6 Key Developments. 139
12.3 Noom, Inc. 140
12.3.1 Key Facts. 140
12.3.2 Business Description. 140
12.3.3 Products and Services. 140
12.3.4 Financial Overview.. 140
12.3.5 SWOT Analysis. 141
12.3.6 Key Developments. 141
12.4 2Morrow, Inc. 142
12.4.1 Key Facts. 142
12.4.2 Business Description. 142
12.4.3 Products and Services. 142
12.4.4 Financial Overview.. 142
12.4.5 SWOT Analysis. 143
12.4.6 Key Developments. 143
12.5 Teladoc Health, Inc. 144
12.5.1 Key Facts. 144
12.5.2 Business Description. 144
12.5.3 Products and Services. 144
12.5.4 Financial Overview.. 145
12.5.5 SWOT Analysis. 146
12.5.6 Key Developments. 146
12.6 Welldoc, Inc. 147
12.6.1 Key Facts. 147
12.6.2 Business Description. 147
12.6.3 Products and Services. 147
12.6.4 Financial Overview.. 148
12.6.5 SWOT Analysis. 148
12.6.6 Key Developments. 148
12.7 Fitbit, Inc. 150
12.7.1 Key Facts. 150
12.7.2 Business Description. 150
12.7.3 Products and Services. 150
12.7.4 Financial Overview.. 151
12.7.5 SWOT Analysis. 152
12.7.6 Key Developments. 153
12.8 Omada Health, Inc. 154
12.8.1 Key Facts. 154
12.8.2 Business Description. 154
12.8.3 Products and Services. 154
12.8.4 Financial Overview.. 154
12.8.5 SWOT Analysis. 155
12.8.6 Key Developments. 155
12.9 MANGO HEALTH. 156
12.9.1 Key Facts. 156
12.9.2 Business Description. 156
12.9.3 Products and Services. 156
12.9.4 Financial Overview.. 156
12.9.5 SWOT Analysis. 157
12.9.6 Key Developments. 157
12.10 Pear Therapeutics, Inc. 158
12.10.1 Key Facts. 158
12.10.2 Business Description. 158
12.10.3 Products and Services. 158
12.10.4 Financial Overview.. 158
12.10.5 SWOT Analysis. 159
12.10.6 Key Developments. 159
12.11 Happify Health. 161
12.11.1 Key Facts. 161
12.11.2 Business Description. 161
12.11.3 Products and Services. 161
12.11.4 Financial Overview.. 161
12.11.5 SWOT Analysis. 162
12.11.6 Key Developments. 162
13. Appendix 163
13.1 About the Insight Partners. 163
13.2 Glossary of Terms. 163
LIST OF TABLES
Table 1. Proportion Of People Living With Undiagnosed Diabetes (20–79 years) Per Region, 2021
Table 2. North America Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 3. North America Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (USD Million)
Table 4. US Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. US Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 10. Europe: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. Europe: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 12. Germany: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 13. Germany: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 14. France: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 15. France: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million).
Table 16. UK: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 17. UK: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 18. Italy: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 19. Italy: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 20. Spain: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 21. Spain: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of Europe: Digital Therapeutics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of Europe: Digital Therapeutics Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 24. Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million).
Table 25. Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 26. Japan: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 27. Japan: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 28. China: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 29. China: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 30. India: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 31. India: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 32. South Korea: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 33. South Korea: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 34. Australia: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 35. Australia: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 36. Rest of Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 37. Rest of Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 38. Middle East & Africa: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 39. Middle East & Africa: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 40. UAE: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 41. UAE: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 42. Saudi Arabia: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 43. Saudi Arabia: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 44. South Africa Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 45. South Africa: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 46. Rest of Middle East & Africa: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 47. Rest of Middle East & Africa: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 48. South and Central America Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 49. South and Central America: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 50. Argentina: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 51. Argentina: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 52. Brazil: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 53. Brazil: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 54. Rest of South & Central America: Digital Therapeutics Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 55. Rest of South & Central America: Digital Therapeutics Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
Table 56. Growth Strategies in the Digital Therapeutics Market, 2021-2028
Table 57. Recent Inorganic Growth Strategies in the Digital Therapeutics Market
Table 58. Recent Organic Growth Strategies in the Digital Therapeutics Market
Table 59. Glossary of Terms, Digital Therapeutics Market
LIST OF FIGURES
Figure 1. Digital Therapeutics Market Segmentation
Figure 2. Digital Therapeutics Market– By Geography
Figure 3. Digital Therapeutics Market Overview
Figure 4. Diabetes Segment Held Largest Share of Digital Therapeutics Market by Application
Figure 5. Asia Pacific to Show Significant Growth During Forecast Period
Figure 6. Digital Therapeutics Market, by Geography (US$ Million)
Figure 7. Global Digital Therapeutics Market– Leading Country Markets (US$ Million)
Figure 8. Global Digital Therapeutics Market, Industry Landscape
Figure 9. North America: PEST Analysis
Figure 10. Europe: PEST Analysis
Figure 11. Asia Pacific: PEST Analysis
Figure 12. Middle East and Africa: PEST Analysis
Figure 13. South and Central America: PEST Analysis
Figure 14. Expert Opinion
Figure 15. Digital Therapeutics market impact analysis of driver and restraints
Figure 16. Global Digital Therapeutics Market – Revenue Forecast and Analysis – 2021 - 2028
Figure 17. Global Digital Therapeutics Market– By Geography Forecast and Analysis – 2021- 2028
Figure 18. Market Positioning of Key Players in Global Digital Therapeutics Market
Figure 19. Digital Therapeutics Market Revenue Share, by Application (2021 and 2028)
Figure 20. Diabetes: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 21. Cardiovascular Disease: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 22. Central Nervous System Diseases: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 23. Respiratory Diseases: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 24. Smoking Cessation: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 25. Musculoskeletal Disorders: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 26. Others: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 27. Digital Therapeutics Market Revenue Share, by Distribution Channel (2021 and 2028)
Figure 28. Patients: Digital Therapeutics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 29. Providers: Digital Therapeutics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 30. Payers: Digital Therapeutics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 31. Employers: Digital Therapeutics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 32. North America: Digital Therapeutics Market, by Key Country – Revenue (2021) (US$ Million)
Figure 33. North America Digital Therapeutics Market Revenue and Forecast to 2028 (US$ Million)
Figure 34. North America: Digital Therapeutics Market, by Country, 2021 & 2028 (%)
Figure 35. US: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. Canada: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Mexico: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Europe: Digital Therapeutics Market, by Key Country – Revenue (2021) (US$ Million)
Figure 39. Europe: Digital Therapeutics Market Revenue and Forecast to 2028 (US$ Million)
Figure 40. Europe: Digital Therapeutics Market, by Country, 2021 & 2028 (%)
Figure 41. Germany: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. France: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. UK: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. Italy: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. Spain: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 46. Rest of Europe: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 47. Asia Pacific Digital Therapeutics Market Overview, by Country (2021)
Figure 48. Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 49. Asia Pacific: Digital Therapeutics Market Revenue and Forecasts to 2028, By Country (%)
Figure 50. Japan: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 51. China: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 52. India: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 53. South Korea: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 54. Australia: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 55. Rest of Asia Pacific: Digital Therapeutics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 56. Middle East & Africa Digital Therapeutics Market Revenue Overview, by Country, 2021 (US$ Million)
Figure 57. Middle East & Africa Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 58. Middle East & Africa Digital Therapeutics Market Revenue and Forecasts to 2028, By Country (%)
Figure 59. UAE: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 60. Saudi Arabia: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 61. South Africa: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 62. Rest of Middle East and Africa: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 63. South and Central America Digital Therapeutics Market Revenue Overview, by Country, 2021 (US$ Million)
Figure 64. South and Central America Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 65. South and Central America Digital Therapeutics Market Revenue and Forecasts to 2028, By Country (%)
Figure 66. Argentina Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 67. Brazil: Digital Therapeutics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 68. Rest of South and Central America: Digital Therapeutics Market– Revenue and Forecast to 2028 (USD Mn)
Figure 69. Impact of COVID-19 Pandemic in North American Country Markets
Figure 70. Impact of COVID-19 Pandemic in European Country Markets
Figure 71. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 72. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 73. Impact Of COVID-19 Pandemic in South and Central America Africa Country Markets
The List of Companies - Digital Therapeutics Market
- Propeller Health
- Canary Health
- NOOM, INC.
- 2MORROW, INC.
- Teladoc Health
- Welldoc, Inc.
- FITBIT, INC.
- OMADA Health
- Mango Health
- Pear Therapeutics, Inc.
- HAPPIFY Health.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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