Europe Digital Therapeutics Market is Segmented By Product Type (Software, Devices, Others), By Application (Diabetes, Obesity, Cardiovascular Diseases (CVD), Central Nervous System (CNS) Diseases, Respiratory Diseases, Smoking Cessation, Gastrointestinal Disorders (GID), Others), By Sales Channel (Business-to-Business (B2B) (Employer, Healthcare Providers, Payers, Pharmaceutical Companies, Others), Business-to-Consumer (B2C) (Patient, Caregiver)), and By Country (Germany, U.K.,France, Italy, Spain) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The Europe Digital Therapeutics Market is expected to grow at a CAGR of 21.4% during the forecast period 2024-2031.
Smartphones are being used as fitness and health monitoring tools, alongside their primary functions of communication and entertainment. Furthermore, the integration of big data in the healthcare sector is seeing notable expansion. The use of electronic health records and electronic medical record systems has seen an increase in popularity among individuals.
Additionally, the medical community has shown a positive reception towards telemedicine and telehealth services, which have gained recognition from both public and commercial institutions. Chronic diseases, including cancer, diabetes, cardiovascular disease, and Alzheimer's, are exhibiting an increasing incidence rate and need extended treatment and vigilant patient monitoring.
Market Scope
| Metrics | Details |
| CAGR | 21.4% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product Type, Application, Sales Channel, and Country |
| Countries Covered | Germany, U.K, France, Italy, Spain |
| Largest Country | Germany |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Mobile healthcare technology advancements drive the growth of the European Digital Therapeutics market.
The use of smartphones, internet, and smart devices in Europe is increasing, which has led to the growth of the digital therapeutics market. Chronic illness treatment in Europe costs over $124 billion annually, and digital therapeutics help in reducing these healthcare expenses. The European Digital Therapeutics Market (DTx) is also driven by the growing prevalence of chronic diseases such as diabetes. According to the European Chronic Disease Alliance (ECDA), chronic illnesses including cancer, diabetes, chronic respiratory disease, cardiovascular disease, and mental illness cause more than 85% of deaths in the European Union. The market is further boosted due to the increasing number of diabetic patients and patients willing to use different treatment types. Government initiatives for preventive healthcare are promoting digital therapeutics, and their user-friendliness and convenience are significant advantages. Technological advancements in mobile healthcare are the key drivers of the growth of the European Digital Therapeutics market.
Market Segmentation
The Europe Digital Therapeutics Market is segmented into product type, application, sales channel and country
By Product Type
- Software
- Devices
- Others
By Application
- Diabetes
- Obesity
- Cardiovascular Diseases (CVD)
- Central Nervous System (CNS) Diseases
- Respiratory Diseases
- Smoking Cessation
- Gastrointestinal Disorders (GID)
- Others
By Sales Channel
- Business-to-Business (B2B)
- Employer
- Healthcare Providers
- Payers
- Pharmaceutical Companies
- Others
- Business-to-Consumer (B2C)
- Patient
- Caregiver
By Country
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
COVID-19 Impact on Market
The COVID-19 epidemic had a significant impact on Europe's healthcare system. However, the pandemic has had a beneficial influence on the worldwide digital therapeutics industry, increasing the pace of growth. Digital medicines allow us to treat, manage, and monitor illness from anywhere without having to visit hospitals or contact other people. As a result, physicians began adopting digital apps to treat their patients. Furthermore, the surge in smartphone use during the epidemic helped the industry flourish during these difficult times.
Market Regional Share
The Europe Digital Therapeutics Market can be segmented into Germany, U.K, France, Italy, Spain and the Rest of Europe.
The German digital therapeutics market is estimated to dominate the European market. Furthermore, fast-track reimbursement policies available in Germany are significantly accelerating the digital therapeutics market in Germany.
The digital health market in the U.K. is expected to be a highly profitable regional market within Europe. The market is being boosted by an increase in private funding for the development of new applications. Furthermore, the growth of the market is being propelled by the increased adoption and awareness of digital therapeutics. The prevalence of diabetes and chronic diseases is also contributing to the growth of the digital therapeutics market in Europe.
Market Major Players
The major players covered in the Europe digital therapeutic market report are Pear Therapeutics, Akili Interactive Labs, Click Therapeutics, WellDoc, Livongo (now part of Teladoc Health), Omada Health, Propeller Health (acquired by ResMed), Hinge Health, 2Morrow Inc., DarioHealth, Voluntis, Science 37, Cognoa, NightWare and Kaia Health.
