Neurology Digital Therapeutics Market by Product Type (Software, Devices), Indication (Diabetes, Obesity, Cardiovascular Disease (CVD), Central Nervous System (CNS) Disease, Respiratory Disease) End User & Region - Forecast to 2021-2031
Market Insights on Neurology Digital Therapeutics covering sales outlook, demand forecast and up-to-date key trends
Neurology digital therapeutics is the field of healthcare that deals with and prevents medical conditions using information and communication technology. According to the recent research by FMI, the neurology digital therapeutics market is anticipated to witness a 9.0% growth during the forecast period from 2021 to 2031.
This significant growth will be experienced due to the advancement in technology in the healthcare sector. Therefore, neurology digital therapeutics demand is expected to increase significantly soon.
What is Driving Demand for Neurology Digital Therapeutics?
Various factors are driving the demand for neurology digital therapeutics such as it optimizes the time of administrative tasks and routine communication, it reduces the pain associated with the traditional therapeutic methods, it make the monitoring easier and more accurate.
These technologies can also be used for therapy and rehabilitation purposes with the help of smartphones, tablets and computers.
Also, neurological digital therapeutics can overcome various problems related to traditional clinical practices. Thus, all these factors have the potential to drive the demand of the market during the forecast period from 2021 to 2031.
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Advancement in Information Technology Likely to Augment Neurology Digital Therapeutics
Information technology work in conjugation with the drugs to give maximum benefit of the treatment to the patients. Patients can take care of their health through easy-to-use apps and monitoring devices. Start-ups are introducing different innovative ideas to attract investors.
Also, the prevalence of chronic diseases is rising in the world that creating opportunities for healthcare and digital therapy players to invest in the market by innovating and launching technological advanced devices and enhance the neurological digital therapeutics demand globally.
The treatment of chronic diseases with the traditional method is becoming a challenging thing for healthcare workers and manufacturers due to its increasing burden. Thus, innovative technology or digital therapeutics is required for the treatment of a large number of populations suffering from chronic diseases.
Thus, it is expected to boost the market of neurology digital therapeutics during the forecast period from 2021 to 2031 in the world.
The U.S. and Canada Neurology Digital Therapeutics Market Outlook
U.S. and Canada remain the predominant market for neurology digital therapeutics because of the presence of key players in the region. For instance, Pear Therapeutics headquartered in the U.S. operates at the intersection of biology and software technology. The company discovers, develops, and delivers clinically certified software to provide better outcomes for patients using neurological digital therapeutics.
Thus, the demand for neurology digital therapeutics will increase in the region during the forecast period from 2021 to 2031.
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Europe Demand Outlook for Neurology Digital Therapeutics
The demand for neurology digital therapeutics will be increased in Europe because of a rising number of chronic disease amongst patients with rising geriatric populations in the region.
With increasing age, the chances of developing chronic diseases also increase in the region. According to EUROSTAT, in 2020, there were 20.6% of people in Europe were more than 65 years of age.
Thus, there will be growth in the neurology digital therapeutics market in the region during the forecast period from 2021 to 2031.
The demand for neurology digital therapeutics will be increased in Europe because of a rising number of chronic disease amongst patients with rising geriatric populations in the region.
With increasing age, the chances of developing chronic diseases also increase in the region. According to EUROSTAT, in 2020, there were 20.6% of people in Europe were more than 65 years of age.
Thus, there will be growth in the neurology digital therapeutics market in the region during the forecast period from 2021 to 2031.
Who are the Key Manufacturers and Suppliers of Neurology Digital Therapeutics?
The key players of neurology digital therapeutics include
Livongo Health
Noom
Omada Health
Pear Therapeutics
WellDoc
Proteus Digital Health
Propeller Health
Akili Interactive Labs
Mango Health
Better Therapeutics
Happify
Kaia Health
Click Therapeutics and others.
They follow certain strategies to survive in the market like a product launch, product approval, patent gaining, expansion, acquisition and merger. For instance, in October 2021, Pear Therapeutics announced about continuing the expansion of intellectual property portfolio for prescription digital therapeutics.
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