The global digital therapeutics market size was valued USD 6.17 Billion in 2022 and is anticipated to reach USD 86.53 Billion by 2031, expanding at a CAGR of 34.1% during the forecast period, 2023 – 2031.
Digital therapeutics is based on evidence therapeutic interference to patients. It is distributed via devices and software programs to manage, protect or handle a medical situation. This software application can be utilized separately or in amalgamation with other medications, devices, or any other therapies to help in health outcomes and patient care. The clinical validation, design, usability, and data security of digital therapeutics are based on technological advancements for best practices.
Digital Therapeutics Market Trends, Drivers, Restraints, and Opportunities
- Digital therapeutics is a recent trend in the fast-growing mobile health space content software programs that mixes medical interference along with digital platforms for diagnosis of conditions or medical disorder, which drives the market.
- Factors such as rising usage of internet and smartphones, digital therapeutics offers primary medical assistance, work in alliance with drug regimens, uses cognitive inducement to connect with wearables, and behavioural changes fuels the market.
- Growing prevalence of geriatric population, chronic diseases, benefits of digital therapeutics, technological advancements, and increasing need to deal rising healthcare expenses are key growth factors spurring the global market.
- The advent of next-generation technologies for instance Artificial Intelligence and IoT these high-tech procedures hold most of the potential to roll out DTx interventions as an additional product which is replacement of conventional therapeutics.
Scope of Digital Therapeutics Market Report
The report on digital therapeutics market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Digital Therapeutics Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016-2021
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Forecast Period
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2023-2031
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Segmentation
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Product Types (Software and Devices), Applications (Obesity, Diabetes, Central Nervous System Disease, Cardio Vascular Diseases, Smoking Cessation, Respiratory Diseases, Gastrointestinal Disorders, and Others), Sales Channels (Business-to-Business and Business-to-Consumers), End-users (Patients, Providers, Payers, Employers, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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Omada Health Inc., WellDoc Inc., 2Morrow Inc., Livongo Health Inc., Propeller Health, Fitbit Inc., Canary Health, Mango Health, Noom Inc., and Pear Therapeutics
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Digital Therapeutics Market Segment Insights
The software segment accounts for a key market share
Based on product types, the global market is bifurcated into software and devices. The software segment accounts for a key share of the market owing to the increased usage of smartphones and other smart devices. However, the device segment is anticipated to expand at a rapid pace during the forecast period due to increasing customer engagement in devices.
The diabetes segment is estimated to expand at a robust rate
In terms of applications, the market is segregated into obesity, diabetes, central nervous system disease, cardio vascular diseases, smoking cessation, respiratory diseases, gastrointestinal disorders, and others. The diabetes segment is estimated to expand at a robust rate owing to high prevalence of obesity in the countries. Meanwhile, the gastrointestinal disorders provide a high growth rate due to increase in the gastrointestinal cases.
The business-to-consumer’s segment is projected to expand at a considerable CAGR
On the basis of sales channels, the market is bifurcated into business-to-business and business-to-consumers. The business-to-consumers segment is projected to expand at a considerable CAGR owing to rising number of diabetes, high blood pressure, and obesity. On the other hand, the business-to-business segment accounts for a key market share due to rising activities by major market players.
Patient’s segment is attributed to register a high CAGR
Based on end-users, the market is classified into providers, patients, employers, payers, and others. The patient’s segment is attributed to register a high CAGR during the forecast period due to high prevalence of diseases among people. Moreover, the providers segment accounts for a key share of the market due to rising activities by supplier.
Regional Analysis
In terms of regions, the global digital therapeutics market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market due to the rising use of favourable reimbursement scenarios and digital health products that focus on better quality of life through improved diagnostics & tracking. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period due to growing demand for personal care devices and related services.
Segments
Product Types
Applications
- Obesity
- Diabetes
- Central Nervous System Disease
- Cardio Vascular Diseases
- Smoking Cessation
- Respiratory Diseases
- Gastrointestinal Disorders
- Others
Sales Channels
- Business-to-Business
- Business-to-Consumers
Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
Key Players
Competitive Landscape
Key players in the digital therapeutics market include Omada Health, Inc., WellDoc, Inc., 2Morrow, Inc., Livongo Health, Inc., Propeller Health, Fitbit Inc., Canary Health, Mango Health, Noom, Inc., and Pear Therapeutics. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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