WASHINGTON, April 17, 2023 (GLOBE NEWSWIRE) -- The Global Digital Therapeutics Market is valued at USD 3.84 Billion in 2022 and is projected to attain a value of USD 27.50 Billion by 2030 at a CAGR of 27.90% during the forecast period, 2023–2030.
Market Overview
Digital therapeutics (DTx) is a subset of digital health that uses software to treat medical conditions and improve patient outcomes. DTx products are designed to deliver evidence-based interventions that are equivalent to traditional medical treatments. These interventions can be delivered via smartphones, tablets, and other digital devices.
The digital therapeutics market has been growing rapidly in recent years, and is expected to continue to grow in the coming years. The market is driven by several factors, including:
- Increasing prevalence of chronic diseases: The rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and mental health disorders has increased the demand for effective and efficient treatment options.
- Growing adoption of smartphones and other digital devices: The increasing use of smartphones and other digital devices has created new opportunities for the development and delivery of digital therapeutics.
- Favorable regulatory environment: Regulatory bodies such as the FDA have been supportive of digital therapeutics, providing a clear pathway for product development and approval.
- Increasing investment in digital health: The growing investment in digital health has created new opportunities for the development and commercialization of digital therapeutics.
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Market Dynamics
- Increasing prevalence of chronic diseases: Chronic diseases are the leading cause of death and disability worldwide. In the United States, for example, chronic diseases account for more than 70% of all deaths. The increasing prevalence of chronic diseases is creating a large and growing market for digital therapeutics.
- Rising cost of healthcare: The cost of healthcare is rising rapidly, and patients are looking for more affordable and effective ways to manage their conditions. Digital therapeutics can offer a more affordable and effective alternative to traditional therapies.
- Growing demand for personalized medicine: Patients are increasingly demanding personalized medicine that is tailored to their individual needs. Digital therapeutics can be used to provide personalized care by collecting data on patients' symptoms, behaviors, and environment.
In addition to these key market dynamics, there are a number of other factors that are also driving the growth of the digital therapeutics market. These include:
- The development of new technologies: New technologies, such as artificial intelligence and machine learning, are being used to develop more sophisticated and effective digital therapeutics.
- The increasing acceptance of digital therapeutics by healthcare providers: Healthcare providers are increasingly accepting digital therapeutics as a viable treatment option for chronic diseases.
- The growing demand for digital health solutions: Patients are increasingly demanding digital health solutions that allow them to manage their health conditions remotely.
Top Players in the Global Digital Therapeutics Market
- Omada Health Inc. (US)
- WellDoc Inc. (US)
- 2Morrow Inc (US).
- Livongo Health (US)
- Propeller Health (US)
- Pear Therapeutics (US)
- Canary Health Inc. (US)
- Noom Health Inc. (US)
- Mango Health Inc. (US)
- Akili Interactive Labs (South Africa)
- Better Therapeutics (US)
- Happify Health (US)
- Kaia Health (US)
- Medtronic Plc. (Ireland)
- Teladoc Health Inc (US)
- Fitbit Health Solutions (US)
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Top Report Findings
- The global digital therapeutics market size was valued at USD 3.84 billion in 2022 and is expected to reach USD 27.50 billion by 2030, growing at a CAGR of 27.90 % from 2023 to 2030.
- The major factors driving the growth of the digital therapeutics market include the increasing prevalence of chronic diseases, the growing adoption of smartphones and other digital devices, favorable regulatory policies, and increasing investment in digital health.
- The market is segmented by application into diabetes, cardiovascular diseases, respiratory disorders, mental health, and others. The mental health segment is expected to grow at the highest CAGR during the forecast period, driven by the increasing awareness of mental health issues and the growing demand for remote mental health services.
- The market is segmented by end-user into patients, healthcare providers, employers, and payers. The patient’s segment is expected to hold the largest market share during the forecast period, driven by the increasing demand for personalized and accessible healthcare solutions.
Top Trends in Global Digital Therapeutics Market
- Personalization: The trend towards personalized medicine is driving the development of more personalized digital therapeutics. This involves the use of data and advanced analytics to create tailored treatment plans that are optimized for each patient's unique needs and characteristics.
- Integration with healthcare systems: Digital therapeutics are increasingly being integrated into traditional healthcare systems, creating new opportunities for remote patient monitoring and disease management. This trend is driven by the increasing demand for more efficient and cost-effective healthcare solutions.
- Partnerships and collaborations: Digital therapeutics companies are increasingly partnering with healthcare providers, payers, and other stakeholders to develop and commercialize new products and services. This trend is driven by the need to create more comprehensive and integrated healthcare solutions.
- Wearables and sensors: The growing adoption of wearables and sensors is driving the development of new digital therapeutics products and services. These devices can be used to monitor patient health and provide real-time feedback and interventions.
- Regulatory developments: Regulatory developments, such as the FDA's Digital Health Software Precertification Program, are creating new opportunities for the development and commercialization of digital therapeutics. These developments are helping to drive innovation and investment in the industry.
- Artificial intelligence and machine learning: The use of artificial intelligence and machine learning is becoming increasingly important in the development of digital therapeutics. These technologies can be used to analyze patient data, predict outcomes, and develop personalized treatment plans.
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Regional Analysis
- North America: North America is expected to hold the largest share of the digital therapeutics market during the forecast period. This is driven by the presence of a large number of digital therapeutics companies, favorable regulatory policies, and high healthcare expenditure. The United States is the largest market for digital therapeutics in North America.
- Europe: Europe is expected to be the second-largest market for digital therapeutics during the forecast period. This is driven by the growing adoption of digital health solutions, favorable regulatory policies, and increasing investment in healthcare. The United Kingdom, Germany, and France are the largest markets for digital therapeutics in Europe.
- Asia Pacific: Asia Pacific is expected to be the fastest-growing market for digital therapeutics during the forecast period. This is driven by the increasing prevalence of chronic diseases, growing adoption of digital health solutions, and increasing investment in healthcare. China, Japan, and India are the largest markets for digital therapeutics in Asia Pacific.
- Latin America: Latin America is expected to see significant growth in the digital therapeutics market during the forecast period. This is driven by the increasing demand for personalized and accessible healthcare solutions, growing adoption of smartphones and other digital devices, and increasing investment in healthcare. Brazil and Mexico are the largest markets for digital therapeutics in Latin America.
- Middle East and Africa: The Middle East and Africa are expected to see moderate growth in the digital therapeutics market during the forecast period. This is driven by increasing investment in healthcare, growing adoption of digital health solutions, and increasing prevalence of chronic diseases. South Africa and Saudi Arabia are the largest markets for digital therapeutics in the Middle East and Africa.
Browse market data Tables and Figures spread through 156 Pages and in-depth TOC on Digital Therapeutics Market Forecast Report (2023-2030).
Global Digital Therapeutics Market Segmentation
By Application
- Diabetes
- Obesity
- CVD
- CNS Disease
- Respiratory Diseases
- Smoking Cessation
- Others
By End-Use
- Patients
- Providers
- Payers
- Employers
- Others
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 3.84 Billion |
| Revenue Forecast by 2030 | USD 27.50 Billion |
| CAGR | 27.90% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Omada Health Inc., WellDoc Inc., 2Morrow Inc., Livongo Health, Propeller Health, Pear Therapeutics, Canary Health Inc., Noom Health Inc., Mango Health Inc., Akili Interactive Labs, Better Therapeutics, Happify Health, Kaia Health, Medtronic Plc., Teladoc Health Inc, Fitbit Health Solutions |
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The key questions answered in the Digital Therapeutics Market Report are:
- What is the current size of the digital therapeutics market, and what is its expected growth rate during the forecast period?
- What are the major drivers, restraints, and opportunities in the digital therapeutics market, and how are they likely to affect market growth?
- What are the key applications and end-users of digital therapeutics, and how are they likely to evolve during the forecast period?
- What are the major technological advancements and innovations in the digital therapeutics market, and how are they likely to affect market growth?
- What are the major regulatory frameworks governing the digital therapeutics market, and how are they likely to evolve during the forecast period?
- What are the major regional markets for digital therapeutics, and how are they likely to evolve during the forecast period?
- Who are the major players in the digital therapeutics market, and what are their key strategies and competitive landscape?
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