CNS Digital Therapeutics Market by Disease Indication (Alzheimers disease, Parkinsons disease and Epilepsy), End Users (Providers, Payers, Patients and Pharmaceutical Companies) - Analysis & Forecast 2019-2030
Report ID : 105 | Published Date : May 2020 | Pages : 210 | Region : Global | Report Code : HIT-7
CNS Digital Therapeutics Market Overview and Introduction
CNS digital therapeutics market is estimated to be over US$ 737.5 Mn in 2018. It is anticipated to grow at a 31.6% CAGR from 2019 to 2030.
Digital therapeutic is a field of digitized healthcare solution that uses digital tools. These tools include software or devices that utilizes digital and online health technologies that help in monitoring the medical condition of the patient for treatment of various medical conditions. These products are designed in such a way that they enable patients to take greater control over their care and focus on delivering better clinical outcomes through monitoring the patient’s condition throughout.
The CNS digital therapeutics market is driven by increasing prevalence of neurological disorders, the growing geriatric population that in turn increases the prevalence of diseases that is linked more to old age. Moreover, digital therapeutics is comparatively cheaper than that of the conventional treatment of particular disease as well the factor that digital therapeutics can be customized according to the patients need and it can be available 24/7 to the patients are the factors that play a pivotal role in driving the growth of CNS digital therapeutics. However, the risk of the cyber threats and lack of awareness toward digital therapeutics acts as a key restraint to the market growth.
CNS Digital Therapeutics Market by Disease Indication
On the basis of disease indication the market is segmented into alzheimer's disease, parkinson's disease, epilepsy and other disease indications. The alzheimer's disease is anticipated to grow at a higher CAGR in the forecasted period owing to growing generic population that in turn increases the prevalence of diseases like alzheimer disease that are linked more to old age.
CNS Digital Therapeutics Market by End User
On the basis of end user market is segmented into providers, payers, patients and pharmaceutical companies. The providers segment is anticipated to grow at a higher CAGR in the forecasted period. The growth of this segment can be attributed to factors such as, they help in delivering clinically proven therapies to patients along with self-management therapeutic options.
CNS Digital Therapeutics Market by Region
The CNS digital therapeutics market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of CNS digital therapeutics, followed by Europe and Asia Pacific. North America will continue to dominate the market in the forecast period owing to factors such increase in the incidences of chronic diseases, increasing investment in R&D of CNS digital therapeutic devices through government funding and rising awareness of digital therapeutics in this region. Moreover, faster FDA approval for CNS digital therapeutic devices is anticipated to drive the growth of the market in this region. The Asia-Pacific market is expected to grow at a higher CAGR owing to factors such as, rise in increasing incidences of chronic diseases, increasing funds by the government for development of healthcare infrastructure. Moreover, the growing economy in this region as well as the growing markets are also anticipated to propelling the growth of CNS digital therapeutics market in this region.
CNS Digital Therapeutics Market Prominent Players
The prominent players in the CNS digital therapeutics market are Pear Therapeutics, Inc., Dthera Sciences, Akili Interactive Labs, Inc, Epicadence, CLICK THERAPEUTICS, INC., Cognoa, GAIA AG, MindSciences, Brainmarc and MedRhythms among others.