The size of the digital therapeutics market in Asia-Pacific is predicted to worth USD 1308 million by the end of 2028.
The digital therapeutics market in this region is primarily driven by the increasing usage of smartphones & tablets and y-o-y growth in the incidence of chronic diseases. Technological advancements in mobile healthcare in the APAC region and improved drug compliance boost the digital therapeutics market in the Asia Pacific. Furthermore, the demand for PDTx is growing due to their profitability.
Other factors such as easy accessibility, patient comfort, and the potentiality to influence behavioral change propel the market growth. Y-O-Y rise in the aging population suffering from chronic diseases is expected to influence the prescription digital therapeutic market demand worldwide. Government initiatives for better healthcare services in the region and improving healthcare infrastructure encourage market growth.
However, lack of awareness and access to digital therapeutics programs in emerging countries impede the market growth. The digital therapeutics market's primary concerns are unstable payment models and patient data privacy concerns, which restrain the market growth. Also, resistance from traditional healthcare providers diminishes the market growth.
Impact of COVID-19 on the Asia-Pacific digital therapeutics market:
The emergence of the outbreak has disrupted the APAC region's healthcare systems as the healthcare responses are focused on strengthening the COVID-19 Infrastructure. The need for the substantial shift to apps and hardware capable of lifestyle enhancement and medical intervention has developed during the COVID-19 pandemic period.
Covid-19 has positively impacted the digital therapeutics market growth. Due to the pandemic, the awareness among the people has increased about the importance of digital health and the proliferation of mental illness, and the rising rate of drug abuse worldwide is expanding the market during the Covid-19 period.
Moreover, due to the nationwide lockdown, people are restricted to the home, which led to less physical activity, and unhealthy lifestyles, and mental stress has increased chronic diseases. Therefore, the demand for therapeutics devices and software flourishes across the Asia pacific.
The research report Asia Pacific digital therapeutics market has been segmented and sub-segmented into the following categories.
By Sales Channel:
Geographically, the Asia Pacific market is estimated to grow at a progressive rate during the forecast period. In the APAC, the Chinese market is expected to register a healthy growth rate between 2022 to 2027. The Indian market is more likely to grow at a significant rate during the forecast period. Growth in the number of hospital apps and the prevalence of chronic diseases are boosting the Indian market.
The digital therapeutics market in Japan and Australia are likely to expand at a robust rate during the forecast period and is driven by the growing usage of tablets and smartphones.
LEADING COMPANIES IN THE MARKET:
Companies like Fitbit, Inc. (Twine Health, Inc.), Medtronic Plc., Novartis International AG (Pear Therapeutics, Inc.), Resmed, Inc. (Propeller Health), Voluntis, Inc., Ada Health GmbH, Cognifit ltd, Caterna Vision GmbH, Sonormed GmbH, and Kaia Health are playing a leading role in the APAC digital therapeutics market.
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