CNS Digital Therapeutics Market is anticipated to grow at a substantial rate from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “CNS Digital Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global CNS digital therapeutic market is estimated to be over US$ 700 Mn in 2018. It is anticipated to grow at a substantial rate from 2019 to 2030.
There has been a rise in the number of diseases pertaining to the central nervous system (CNS). Moreover, such diseases are more prevalent among the geriatric population, which in turn is increasing. Digital medicines are relatively inexpensive compared to the conventional drugs. Furthermore, the customized nature of digital therapeutics appeals to the patients. All the above mentioned factors drive the market. However, the vulnerability of digital therapeutics to cyber threats can restrain the market growth to some extent.
The CNS-related illnesses like Alzheimers disease, Parkinsons disease, Epilepsy, Attention Deficit/Hyperactivity Disorder (ADHD), multiple sclerosis, and depression are on the rise. Even in developed countries like America, such diseases are expanding at an alarming rate. Depression has become a major burden to the world since it claims the lives of many. Hence, such diseases need to be addressed in an effective manner. Though conventional medicines (pills, dosages) are available for these illnesses, the cost of treatment is exorbitantly high. Many people, especially those living in developing and under-developed countries, can’t afford the expenses. Hence, digital therapeutics is a promising way to tackle the cost issues. Many of the digital therapeutic applications are available free of cost on some online platforms. Moreover, illnesses like Alzheimers disease and Parkinsons disease are associated with old-age. And, the geriatric population is increasing throughout the world, especially in countries like Japan and Italy. Furthermore, the digital medicines are equipped with customization features. Hence, the patients can exercise control over the tools offered by the mobile application. Also, the digital therapy sessions are available 24/7, owing to which the users can participate in them as per their time of convenience.
Browse key industry insights spread across 210 pages with market data tables & figures & charts from the report, CNS Digital Therapeutics Market by Disease Indication (Alzheimers Disease, Parkinsons Disease, Epilepsy), End User (Providers, Payers, Patients, Pharmaceutical Companies) - Global Analysis & Forecast 2019-2030. in detail along with the table of contents:https://www.marketindustryreports.com/CNS-digital-therapeutics-market/105
However, there is a possibility of security threats to the digital medicine applications. Through unethical hacking, a third party can have access to the patients health information. Hence, the privacy of the user is at stake. This factor can impede the growth of the market to some extent.
The Asia-Pacific region is estimated to witness the highest CAGR during the forecast period owing to the increasing prevalence of CNS-related diseases, especially in the heavily populated countries like India and China. The market also has a lucrative opportunity in Japan since it is the nation with the highest number of geriatric population. Favorable healthcare reimbursement policies are also gaining traction, owing to which the CNS digital therapeutics market will experience a major boost during the forecast period.
The prominent players in the market are Pear Therapeutics, Inc., Dthera Sciences, Akili Interactive, Epicadence, Click Therapeutics, Inc., Cognoa, GAIA AG, MindSciences, Brainmarc, MedRhythms, among others.
Market Industry Reports is a global leader in market measurement and advisory services. It is 100% subsidiary of Maniks Systems Pvt Ltd. The firm has always been at the forefront of innovation to address the worldwide industry trends and opportunities.
We offer our clients a unique depth of market intelligence in an actionable format to move their business forward. Our analysis incorporates the consumer study in more than 100 countries that provide a tactical approach to drive the sustained growth for the business. We continue to pioneer state-of theart approach in research & analysis that makes complex world simpler to stay ahead of the curve. By nurturing the perception of genius and optimized market intelligence we bring proficient contingency to our clients in the evolving world of technologies, megatrends and industry convergence. We empower and inspire Vanguards to fuel and shape their business to build and grow world-class consumer products.