According to a new report published by Allied Market Research, titled, “Europe Digital Therapeutics Market by Application, Product, and Sales Channel: Europe Opportunity Analysis and Industry Forecast, 2019–2026,” the Europe digital therapeutics market size was valued at $0.50 billion in 2018 and is projected to reach $2.27 billion by 2026, growing at a CAGR of 20.6% from 2019 to 2026. The diabetes segment accounted more than one-fifth of the total market share in 2018.
Download Free Sample Report Here:
https://www.alliedmarketresearch.com/request-sample/6516
Rise in utilization of smart devices and smartphones&tablets coupled with increase in incidenceof chronic diseases boosts the growth of the Europe digital therapeutics market. However, lack of awareness toward healthcare-associated applications and increase in concerns regarding patient data restrict the market growth. Conversely, high growth potential in the emerging markets offers lucrative opportunities for key market players operating in this segment.
Moreover, digital therapeutics provides remote monitoring to improve long-term health problems.According to European Chronic Disease Alliance (ECDA), 85% of deaths in the European Union (EU) occur due to chronic diseases, including cardiovascular disease, cancer, diabetes, chronic respiratory disease, and mental illness. In addition, these chronic illnesses cost European economy around $124 billion a year. Whereas, digital therapeutics helps in lowering these healthcare costs. Moreover, digital therapeutics products can drive down a company’s health care costs by lowering usage of health insurance plans for acute problems.
COVID-19 scenario analysis:
1) The COVID-19 impact on the Europe Digital therapeutics market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.
3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.
4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.
Interested in Procuring this Report? Visit Here:
https://www.alliedmarketresearch.com/purchase-enquiry/6516
Key Findings Of The Study
- Software is expected to be one of the most lucrative segments,registering a CAGR of 20.8% during the forecast period.
- The business-to-consumers (B2C)segmentaccounted for maximum share in the Europe market in 2018, and is expected to grow at a CAGR of 21.1% during the forecast period.
- UKdominated the Europedigital therapeutics market, and is projected to retain this trend throughout the forecast period.
- Diabetes is accounted for the maximum share in 2018, in Europe, with registering a CAGR of 22.6% during the forecast period.
The key players operating in the Europe digital therapeutics market are Ada Health GmbH, CogniFit, Caterna Vision GmbH, Fitbit, Inc. (Twine Health, Inc.), Kaia Health, Medtronic Plc., Novartis International AG (Pear Therapeutics, Inc.), ResMed, Inc. (Propeller Health), Sonormed GmbH, and Voluntis, Inc.
The other players in the value chain include (profiles not included in the report)GlaxoSmithKline, Veeva Systems, and Syneos Health.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Contact: David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com