Juniper Research Reports: New Study Found the Number of People Using Digitial Therapeutics and Wellness Apps Will Grow from 627 Mil in 2020 to More Than 1.4 Bil in 2025

Lucida Medical (Cambridge University Spin-out) Joins GE Healthcare Edison™ Accelerator Programme

Lucida Medical was invited to join the Edison Accelerator programme for its pioneering work in helping identify prostate cancer and its exceptional development team led by Prof Evis Sala and Dr Antony Rix, both highly experienced in artificial intelligence, or AI, medical technology.

Boston Scientific Exercises Option to Acquire Farapulse, Inc.

FARAPULSE Pulsed Field Ablation (PFA) System is a non-thermal ablation system for the treatment of atrial fibrillation (AF) and other cardiac arrhythmias.  

Insulet to Present New Clinical Data for Preschool Children and Adults using the Omnipod® 5 System

Insulet will present new clinical outcomes data for preschool children with type 1 diabetes using the Omnipod 5 Automated Insulin Delivery System (Omnipod 5).

October 27, 2020

Juniper Research reports a new study has found that the number of people using digital therapeutics and wellness apps will grow from 627 million in 2020 to more than 1.4 billion in 2025, after regulators responded to COVID-19 by loosening rules that had previously hindered the work of digital therapeutics developers.

Juniper Research notes the study also revealed that by 2021, over 44 million people will be using digital therapeutics to manage their healthcare. This is an increase of 288% over pre-pandemic usage levels in 2019; suggesting that digital therapeutics and wellness apps have become a lifeline for many people during the pandemic, as they were unable to leave their homes to receive help maintaining their physical and mental health.

For more insights, download their complimentary whitepaper: Has COVID-19 Made the Digital Therapeutics Market Healthier?

Expansion of Reimbursement Structures Driving Adoption in the US

The new report, Digital Therapeutics & Wellness: Disruption, Innovation Opportunities & Market Size 2020-2025, notes that following the advent of the pandemic, the Centers for Medicare and Medicaid Services (CMS) expanded the range of telehealth services available to the 40+ million beneficiaries of Medicare in the US. Between this and the aforementioned uptake in adoption by consumers, we anticipate that by 2025, an expected 652 million people globally will manage their healthcare through digital therapeutics; making them a key element of future health service delivery.

By opening up digital therapeutics to Medicare, public health providers will become one of the biggest contributors to digital therapeutics revenue in 2025, to the tune of $19 billion globally.

Health Insurers and Employers Contributing Majority of Future Revenue

With this broadening awareness, Juniper Research expects the value of the digital therapeutics and wellness market to grow from an expected $5.8 billion in 2020 to over $56 billion in 2025. This growth will be largely fed by acceptance of digital therapeutics technologies by institutions like health insurers and employer payers, who are expected to contribute over half of the digital therapeutics revenue.

spot_img

DON'T MISS

Trinity Health Names Mark LePage, M.D., as Senior Vice President of Medical Groups and Ambulatory Strategy

Prior to his time at IHA, LePage served as chief medical officer of Marshfield Clinic in Wisconsin

Jody Crane, MD Recognized by Modern Healthcare As One of the 50 Most Influential Clinical Executives

Dr. Crane’s work to streamline operations positioned and prepared TeamHealth and its clinicians to face the COVID-19 pandemic. Under Dr. Crane’s leadership, TeamHealth was able to maintain high levels of clinical quality throughout the rapidly changing COVID environment.

Hyperfine Adds Medtech Leader and Visionary Scott Huennekens as Executive Chairman

Mr. Huennekens’ public boards include Chairman of Acutus Medical (IPO August 2020); Chairman of Envista (IPO September 2019); and board member of Nuvasive. He also serves as a board member and past Chairman of the Medical Device Manufacturer’s Association (MDMA).

Subscribe to Medical Device News Magazine here.

Related Articles