Europe Digital Therapeutics Market Size, Share, Comprehensive Analysis, Opportunity Assessment by 2030

 The Europe Digital Therapeutics Market is projected to grow significantly, reaching US$ 1,338.13 million by 2028, up from US$ 1,023.59 million in 2021, with an impressive compound annual growth rate (CAGR) of 22.9% from 2021 to 2028.

This rapid growth is driven by increasing partnerships and collaborations among healthcare companies, as well as the growing number of start-ups across Europe. Digital therapeutics have been widely accepted by employers and insurance providers due to the numerous benefits they offer. The market has seen numerous collaborations that have contributed to its expansion. For example, in June 2018, Cigna partnered with Omada Health to offer Cigna health plan customers no-cost access to Omada’s digital behavioral counseling platform as part of a preventive health improvement program. In 2019, Propeller Health partnered with Orion Corporation to connect Orion’s Easyhaler line of inhalers for asthma and COPD patients to Propeller’s digital platform, which now covers over 90% of inhalable medicines for these conditions. These strategic partnerships have played a crucial role in boosting the digital therapeutics market in Europe.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐๐ƒ๐… ๐๐ซ๐จ๐œ๐ก๐ฎ๐ซ๐ž - https://www.businessmarketinsights.com/sample/TIPRE00028819

While the market is primarily made up of smaller players, larger companies have shown increasing interest in the sector in recent years. In addition, in May 2018, the Digital Therapeutics Alliance (DTA) partnered with the United States Pharmacopeia (USP) to create standards and guidelines for digital therapeutics. DTA further expanded its presence in Europe by joining S3 Connected Health in October 2018, a company specializing in digital health solutions.

Digital therapeutics are used to monitor and manage a range of chronic conditions, such as diabetes, heart disease, and respiratory infections. The market's growth is also supported by government initiatives, including reimbursements, approvals, and the increasing number of patients being monitored through digital platforms. These efforts are expected to encourage more startups to enter the digital therapeutics industry, further accelerating market expansion. However, the sector does face challenges, notably related to cyber threats and data security risks, which could potentially hinder growth.

In summary, while the European digital therapeutics market is thriving due to strategic partnerships, government support, and increasing interest from both small and large players, challenges surrounding data security remain a critical consideration for future growth.

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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Dรฉfense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author’s Bio:
Akshay
Senior Market Research Expert at Business Market Insights

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