Global Neurology Digital Therapeutics Market Is Predicted to Grow Around USD 1250 Million By 2030

The global neurology digital therapeutics market size was worth around USD 212.5 Million in 2022 and is predicted to grow to around USD 1250 Million by 2030 with a compound annual growth rate (CAGR) of roughly 25% between 2023 and 2030.

Neurological disorders are medical conditions that impact the function of the brain and nerves that are spread across the human body as well as the spinal cord. Neurological symptoms are a result of biochemical, structural, or electrochemical divergence from normal conditions. Some of these symptoms include poor coordination skills, seizure, pain, confusion, muscle weakness, and paralysis amongst others.

Every neurological condition is different with varying causes however it typically generates from congenital abnormalities, genetic disorders, infections, brain or spinal cord injury, and environmental or lifestyle problems like malnutrition. The causes also include mental illness but they are extremely rare which may lead to functional impairment or distress. As per the US National Library of Medicine, there are more than 600 neurological conditions that are recognized.

On the other hand, digital therapeutics refers to digital health delivering digital intervention which is provided to the patients by clinically evaluated, and evidence-based software. Digital health encompasses all the technologies or platforms capable of providing digital solutions to medical problems and includes software programs, smart devices, mobile health, telehealth, sensors, etc.

Digital Therapeutics Alliance states that programs and devices used in digital health are run by advanced technologies that ascertain usability, clinical support, design, along with data security. Digital therapeutics is a relatively new system of providing necessary support to the healthcare sector but has gained high acceptance amongst patients as well as healthcare providers.

Initially, it was developed to overcome the shortcomings of space, time, and personal limitations surrounding medical care but recently it has taken on the role of upgrading and enhancing the quality of medical care by acting as a personal assistant to the patient making and making them more self-reliant and more independent with self-medical care.

Covid-19 influenced the global neurology digital therapeutics market cap toward a growth trajectory owing to the high acceptance of digital therapeutics in the overall healthcare sector because of the vast medical data that was generated during 2020 and 2021. The technology was used to impart quality medical care to patients when the hospitals and other medical facilities were burdened with an increasing number of patients and a limited number of treatment resources. The growth in awareness rate about the benefits of the technology is projected to help the global market grow further during the projection period.

The global neurology digital therapeutics market is anticipated to generate high revenues driven by the rising number of neurological conditions like diabetes, cardiovascular diseases (CVDs), Parkinson's disease (PD), and other conditions that affect the quality of a patient's life by affecting the central nervous system. PD is a form of degenerative medical condition resulting in bodily rigidity, imbalance, tremor, and slow movement. As per records from the World Health.

Organization, the disease is growing faster than other forms of neurological conditions and the number of patients is twice as much as they were 25 years ago. In 2019, there were around 8.5 million PD patients. The growing numbers have pushed medical care providers to opt for options that can help them provide better medical services to patients who suffer from long-term critical conditions along with ways that are more sustainable and also take care of the total cost in the long run.

Since digital therapeutics is considered by many as a crucial step in achieving this goal, exhaustive research & development along with awareness programs are on a rise aided by governments, international agencies, and private companies. One of the leading sub-segment is the care of diabetes patients since their condition is dependent on the lifestyle choices of the patients and by modifying it, the patients are capable of controlling the outcomes of the disease which is why more companies are creating digital therapeutics devices to manage this neurological disorder.

The high cost of technology may restrict the neurology digital therapeutics industry growth whereas growing research & development is projected to provide growth opportunities Issues related to improving the efficacy of the devices may pose challenges in the global market.

The global neurology digital therapeutics market is segmented by product type, indication, end-user, and region

Based on product type, the global market is divided into devices and software. Currently, the highest generating segment is the software section as more companies are developing applications to help control medical conditions. As of 2017, the US Food & Drugs Administration had approved around 40 digital therapeutics.

Based on indication, the global market is segmented into cardiovascular diseases (CVDs), diabetes, obesity, respiratory diseases, and central nervous systems (CNS). The global market is currently led by the diabetes segment owing to the advantages of digital therapeutics in medication adherence in diabetic patients. The rising number of people with sugar-level concerns is expected to help segmental growth in the coming years. As per the Centers for Disease Control & Prevention, there are 415 million affected by the disease as of 2022 and the number is projected to reach more than half of a billion by 2040.

Based on end-user, the global market segments are clinics, hospitals, and others. The fastest growing segment is hospitals since more patients rely on hospital facilities for treatment and they also have the necessary funds to adopt better technologies in the medical care process. In the 2022-2023 budget of the Australian government, they announced that around AUD 107.2 million will be spent on modernizing the healthcare system of the country.

North America is projected to lead the global neurology digital therapeutics market share with countries like the US and Canada leading regional growth. High awareness rate in these countries related to neurological conditions and the upcoming technologies that aid the improvement in medical care is projected to help generate high revenues. Since the medical sector in the countries is extremely advanced, they are currently in the more advanced phase of learning and adopting the technology as compared to other regions where digital therapeutics are still being studied.

The presence of high-income groups allows for more people to support the extra cost of using the devices or the software which is aided by the medical reimbursement infrastructure. Europe is projected to generate a high CAGR because of rising neurological conditions like diabetes, and CVDs in the regions. As per the European Commission report, more than 33 million European citizens suffer from diabetes and it may reach up to 38 million by 2030. The growing concerns about conditions that impact the well-being of the citizens have propelled the governments to invest in technologies and systems that can aid better medical and health care.

This review is based on a report by Zion Market Research, titled “Neurology Digital Therapeutics Market By Indication (Cardiovascular Diseases (CVDs), Diabetes, Obesity, Respiratory Diseases, and Central Nervous Systems (CNS)), By Product Type (Devices, and Software), By End-User (Clinics, Hospitals, and Others) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/neurology-digital-therapeutics-market

Recent Developments:

• In December 2021, TheraPanacea and Biogen Inc. announced that the companies will be collaborating to utilize machine learning and artificial intelligence to help develop digital health solutions in the neurological segment. TheraPanacea is a medical technology company with multiple awards which uses artificial intelligence to develop software for the healthcare industry & Biogen Inc is a US-based multinational biotechnology company catering to neuroscience.
• In May 2021, MindMaze, a digital neurology startup entered new deals to strengthen its footprint in the global market. The company is a producer of patient-oriented gamified digital neurotherapeutics for patients suffering from conditions like brain injury, stroke, Parkinson’s, and others. The deals are inked with Suricorp, a Peruvian biotechnology company, Guttmann Barcelona which is a Spanish neurorehabilitation clinic, Swiss Rehabilitation, a Swedish rehabilitation center, and Alkholi, a Saudi-Arabian Company

The global neurology digital therapeutics market is dominated by players like:

• Omada Health
• Livongo Health
• Propeller Health
• Better Therapeutics
• Akili Interactive Labs
• Pear Therapeutics
• Proteus Digital Health
• Noom
• Mango Health
• Kaia Health

The global neurology digital therapeutics market is segmented as follows

By Indication

• Cardiovascular Diseases (CVDs)
• Diabetes, Obesity
• Respiratory Diseases
• Central Nervous Systems (CNS)

By Product Type

• Devices
• Software

By End-User

• Clinics
• Hospitals
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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