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2016 Industry Views on Digital Medicine Market Growth

Published :2016-05-30

The market of digital medicines is likely to move healthcare beyond the established effectiveness of a medicine to comprehend the real world efficiency of a treatment for each individual. This means that medicines can be custom-made for each individual to reflect our exclusive medication-taking patterns, lifestyle and daily health choices.

A mounting growth in the global digital health market is giving pharma and life science companies a strong prospect to play a greater role in providing enhanced patient experiences, better clinical outcomes and cost-savings. Some of the bigger companies have forayed in this space - Swiss pharma giant Novartis has tied up with tech company Qualcomm to form a joint investment company with $100 million towards development in digital medicine market. Novartis has also associated with Google to develop a contact lens that can monitor blood sugar levels.

Deviations in healthcare are an important aspect of social and intellectual advancement. The modern scientific medicine practice depends on written and printed materials to store medical information. As computers can not only transform information but also store it, new digital tools can record clinical data and also generate medical knowledge. This is where market of digital medicine comes in - possibly more accurate, more effective, more experimental, and more unrestricted than current medical practice.

Proteus Digital Health has secured $50 million to magnify its platform. The company’s inventions comprise drugs that communicate when they’ve been ingested, applications that support physicians, and wearable sensors that capture physiologic responses. The Food and Drug Administration (FDA) has already approved Proteus’ Ingestible Sensor - grain of sand sized sensor which is placed into a capsule with a patient’s prescribed medicines. When a patient swallows the capsule, the Ingestible Sensor directs a signal to a small wearable patch that records the time the pill is ingested. The sensor also accumulates physiologic metrics like heart rate, physical activity and rest.

Digital medicine market is a subcategory of digital health and a disease-focussed healthcare that is currently a budding industry. The theory of digital medicine revolves around studying and evaluating the patient's health and consequently prescribing the customized medical aid. It includes either simple digital therapeutic treatments or an arrangement of drugs with therapeutic treatments. It provides actual health information to the patients and the corresponding healthcare team.

Akili Interactive Labs, Inc., a company dedicated on developing clinically authenticated digital medicine for cognitive assessment and custom-made treatment through gamification has acquired $30.5 million in new equity funding. The reserves will be used to fund the potential FDA clearance of its digital medicine market platform across a range of patient populations comprising pediatric Attention Deficit Hyperactivity Disorder (ADHD).

The US digital medicine market 2016 – 2020 report analyzes the industry in United States on the basis of value, segments and clinical trials sponsors. The report also provides the digital health market by categories of healthcare apps. The competition in the digital medicine market is fragmented by the several small private players, such as Livongo, WellDoc, Inc., Ginger.io, Inc., Akili, Mocacare, AliveCor, Inc., 2morrow, Inc., Glooko, Inc., Omada Health, Inc., and Voluntis, etc., whose business profiling has been done in this report, which include their business overview and respective business strategies. Read more at http://www.marketreportsonline.com/477084.html .

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