The North America digital therapeutics market is expected to reach US$ 7,323.29 million by 2028 from US$ 1,740.46 million in 2021; it is estimated to grow at a CAGR of 22.8% from 2021 to 2028.
The growth of the market is attributed to the rising prevalence of chronic diseases and growing need to reduce the cost of healthcare. However, cyber threat and risk related to data security restrict the market growth.
Chronic diseases, such as 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. Moreover, as per the Centers for Disease Control and Prevention (CDC) data published in 2018, 1.4 million Americans are diagnosed with diabetes every year in the US. According to the IDF Diabetes Atlas 2021, published by the International Diabetes Federation, North America reported ~51 million people affected by diabetes in 2021, and the number is expected to reach 63 million by 2045. As per a report by the American College of Cardiology Foundation, coronary heart disease (CHD) was a leading cause of death in the US in 2018, attributable to cardiovascular disease (CVD), followed by stroke (16.8%), high BP (9.4%), heart failure (9.0%), and other CVDs (17.9%). 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 North America 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. Obesity levels are anticipated to reach ~47%, ~39%, and ~35% in the US, Mexico, and England, respectively, by 2030.
To enhance chronic disease management and offer various treatment options to patients, digital therapeutics help 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 growth.
North America Digital Therapeutics Strategic Insights
Strategic insights for the North America Digital Therapeutics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market
North America Digital Therapeutics Regional Insights
The geographic scope of the North America Digital Therapeutics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
North America Digital Therapeutics Market Segmentation
