Chicago, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Digital Therapeutics Market / DTx market in terms of revenue was estimated to be worth $6.1 billion in 2023 and is poised to reach $21.9 billion by 2028, growing at a CAGR of 29.1% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The rapid expansion of the digital therapeutics market is primarily fueled by factors such as the escalating incidence of preventable chronic diseases, the imperative to manage healthcare costs, a growing emphasis on preventive healthcare, and increased investments in digital therapeutics.
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Digital Therapeutics Market / DTx Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $6.1 billion |
| Estimated Value by 2028 | $21.9 billion |
| Growth Rate | Poised to grow at a CAGR of 29.1% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Offering, By Revenue Model, Sales Channel, Application, and Region |
| Geographies Covered | North America (US and Canada), Europe (Germany, UK, France, Spain, Italy, and the RoE), Asia Pacific (Japan, China, India, and the RoAPAC), Latin America (Brazil, Mexico, RoLATAM), and Middle East & Africa 9GCC Countries, RoMEA) |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Large undiagnosed and untreated population |
| Key Market Driver | Rising focus on Preventative Healthcare |
Nevertheless, the growth of this market is impeded by concerns related to product and data quality, the reliability of treatment decisions, as well as issues surrounding patient privacy and security.
In terms of sales channels, the digital therapeutics market is categorized into business-to-business (B2B) and business-to-customer (B2C). In 2022, the B2B segment dominated the market share, attributed to the heightened awareness among providers, payers, and employers regarding the advantages of digital therapeutics. The B2B segment is further categorized into providers, payers, pharmaceutical companies, employers and others. The B2C segment is segmented into patients and caregivers.
With respect to applications, the digital therapeutics market is divided into preventive and treatment/care-related applications. The treatment/care-related applications segment claimed the largest share in 2022, driven by the increasing prevalence of chronic diseases and the escalating economic burden associated with their treatment. The diabetes segment captured the largest share in the treatment/care related segment attributed to the rising incidence of the chronic disease within developed as well as developing countries.
The market is regionally segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America emerged as the leader in market share, and it is anticipated to experience the highest CAGR, closely followed by Europe. Factors contributing to this growth include the influx of new start-ups, heightened investments in digital therapeutics, improvements in the reimbursement structure for digital therapeutics, and governmental initiatives promoting technological advancements in the region.
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Digital Therapeutics Market / DTx market major players covered in the report, such as:
- Noom, Inc (US)
- Teladoc Health, Inc. (US)
- Omada Health, Inc. (US)
- WellDoc, Inc (US)
- Biofourmis (US)
- Better Therapeutics, Inc (US)
- Amalgm Rx (US)
- CogniFit Inc (US)
- Headspace Health (US)
- Propeller Health (US)
- Virta Health Corp (US)
- 2Morrow, Inc. (US)
- Realizedcare (US)
- Canary Health (US)
- Twill Inc. (US)
- Click Therapeutics, Inc. (US)
- Akili, Inc. (US)
- Cognoa, Inc (US)
- Wellthy Therapeutics Pvt. Ltd. (India)
- Kaia Health (Germany)
- Ayogo (Canada)
- Mindable Health GmbH (Germany)
- Hinge Health, Inc. (US)
- Freespira (US)
- and Among Others
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The research report categorizes the digital therapeutics market into the following segments and subsegments:
Digital Therapeutics Market, by Offering
- Programs
- Software/Platforms
- Virtual Reality/Games
Digital Therapeutics Market, by Revenue Modal
- Subscription
- One time Purchase/Licensing
- Outcome/Value based
Digital Therapeutics Market, by Sales Channel
- B2C
- Patients
- Caregivers
- B2B
- Providers
- Payers
- Employers
- Pharmaceutical Companies
- Other Buyers
Digital Therapeutics Market, by Application
- Preventive Applications
- Prediabetes
- Obesity
- Nutrition
- Lifestyle Management
- Other Preventive Applications
- Treatment/Care-related Applications
- Diabetes
- CNS Disorders
- Mental Health Disorder
- Other CNS Disorders
- Chronic Respiratory Disorders
- Musculoskeletal Disorders
- Cardiovascular Diseases
- Smoking Cessation
- Medication Adherence
- Gastrointestinal Disorders
- Substance Use & Addiction Management
- Rehabilitation & Patient Care
- Other Treatment/Care-related Applications
Digital Therapeutics Market, by region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe (RoE)
- Asia Pacific
- Japan
- China
- India
- Rest of the APAC
- Latin America (LATAM)
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa (MEA)
- GCC Countries
- Rest of Middle East & Africa (RoMEA)
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Key Market Stakeholders:
- Digital Therapeutics Platform/Software/App/Therapy/Program Developers
- Healthcare Institutions/Providers (Hospitals, medical Groups, Physician Practices, Community Clinics, Psychiatrists, and Outpatient Clinics)
- Healthcare Insurance Companies/Payers
- Healthcare IT Solution Providers
- Venture Capitalists
- Government Agencies
- Market Research and Consulting Firms
Report Objectives:
- To provide detailed information regarding the major factors influencing market growth, including drivers, restraints, opportunities, and challenges.
- To define, describe, and forecast the digital therapeutics market based on sales channel, application, and region.
- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall digital therapeutics market.
- To forecast the size of market segments in four main regions: North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA).
- To analyze the opportunities for stakeholders and provide details of the competitive landscape for market leaders.
- To profile key players and analyze their market shares and core competencies.
- To track and analyze competitive developments such as product launches, partnerships, agreements, expansions, mergers, and acquisitions in the digital therapeutics market.
Related Reports:
Digital Diabetes Management Market
Telehealth & Telemedicine Market
Behavioral Health Software Market
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