Europe Digital Therapeutics Market Trends, Size, Segment and Growth by Forecast to 2030
The Europe digital therapeutics market is projected to reach US$ 1,338.13 million by 2028, a significant increase from US$ 1,023.59 million in 2021. This growth represents a compound annual growth rate (CAGR) of 22.9% from 2021 to 2028.
This expansion is primarily fueled by a surge in partnerships
and collaborations among healthcare companies, alongside a growing number
of startups across Europe. However, the market faces limitations due to cyber
threats and data security risks.
Digital therapeutics are gaining traction with employers and
insurance providers due to their numerous benefits. The market has seen
substantial collaborations that have propelled its growth. While many small
players exist, larger companies have recently shown increased interest. For
instance, in June 2018, Cigna teamed up with Omada Health to offer
eligible health plan customers free access to Omada’s digital behavioral
counseling platform as a preventive benefit.
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In 2019, Propeller Health partnered with Orion
Corporation to integrate Orion’s Easyhaler inhalers (for asthma and COPD)
with Propeller’s digital medicine platform, which covers over 90% of inhalable
medicines for these conditions. This collaboration significantly expanded
Propeller's European footprint.
Industry associations are also driving growth through
partnerships. In May 2018, the Digital Therapeutics Alliance (DTA)
partnered with USP to develop standards and guidelines for digital
therapeutics. The DTA further expanded its European presence in October 2018 by
adding S3 Connected Health as a member.
Digital therapeutics are instrumental in monitoring and
managing chronic conditions like diabetes, heart disease, and respiratory
infections. Various government initiatives and reimbursement programs
have supported the market's expansion. The increasing number of approvals and
patients being monitored is expected to encourage new startups to enter the
digital therapeutics industry.
Europe Digital Therapeutics Strategic Insights
Strategic insights for the Europe 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.
Market leaders and key company profiles
Propeller Health (ResMed)
Noom, Inc
Welldoc, Inc.
Fitbit, Inc.
Regional Insights: Europe Digital Therapeutics Market
The geographic scope of the Europe Digital Therapeutics
market encompasses the specific regions where companies operate and compete.
Gaining a deep understanding of local differences—such as consumer preferences,
economic conditions, and regulatory frameworks—is essential for tailoring
market strategies. For instance, preferences for certain digital features, data
privacy requirements, or reimbursement models can vary significantly across
countries. By recognizing these distinctions, businesses can identify
underserved markets, adapt their solutions to meet localized needs, and
optimize their offerings accordingly. A focused regional approach enables more
efficient resource allocation, targeted marketing, and stronger positioning
against local competitors, ultimately driving sustainable growth across Europe.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
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