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With a CAGR of 23.9% between 2022 and 2030, the worldwide digital therapeutics market is expected to expand from its 2022 valuation of $5.59 billion to a peak of $28.67 billion.
The term "digital therapeutics" (DTx) refers to the software and hardware used to digitally maintain therapeutic interventions based on scientific evidence for the treatment, diagnosis, and management of illness. Mental health issues, diabetes, respiratory ailments, and cardiovascular problems are just few of the many that can be helped by the software and gadgets. Rising rates of chronic conditions like diabetes, depression, cancer, and heart failure (HF) are also driving up consumer demand for these items. Patients are increasingly turning to medicines for the purpose of managing and treating a wide range of chronic conditions.
The increased smartphone prevalence in both developed and developing nations, as well as the low cost of digital health technology for both providers and consumers, are the primary factors fueling the market's expansion. In April 2022, for instance, Kepios predicted that 5 billion people, or 63% of the world's population, would be connected to the internet. Smart health tracking is predicted to become more popular as this number rises. In addition, the market will be propelled by the rising need for patient-centered care and integrated healthcare systems. The increasing prevalence of chronic diseases and supportive reimbursement policies are also anticipated to contribute to the expansion of the market.
The COVID-19 conference will have a constructive effect on the expansion of the digital therapeutics sector worldwide. As the COVID-19 epidemic spread and lockdown limitations were implemented, there was a worldwide uptick in demand for effective domestic diagnosis and treatment. Increased use of these products was also influenced by the efforts of market leaders to care for patients during the COVID-19 epidemic.
The market is being driven in part by the desire to rein in rising healthcare costs. In contrast to conventional treatment, digital medicines pose no risk to the patient and are quite inexpensive. They make high-quality, individualised medical treatment accessible to all. Care delivery costs can be lowered and productivity boosted with the use of digital therapies. Digital treatments provide a low-cost alternative to traditional medical treatment in light of the ever-increasing costs of healthcare. In addition to enhancing patient outcomes, digital therapies can help cut down on unnecessary hospital readmissions. The expense of medical treatment is one area where this could have a major impact. Furthermore, digital therapies can help doctors better manage chronic illnesses and provide access to care for underprivileged populations.
The market for digital therapies is expanding rapidly, yet there is still a lot of anxiety about patients' personal information being compromised. Due to the nature of digital therapies, it is essential that all patient data be safely stored and handled. Companies risk legal and financial consequences if sensitive patient information is compromised and used inappropriately. Additionally, the market for digital therapeutics is projected to be hampered by the absence of clear regulatory rules.
The use of digital therapeutics as a substitute for conventional medicine is gaining popularity. The growing acceptance of digital therapies among healthcare professionals and patients is likely to fuel the market's rapid expansion over the next few years. The medicinal potential of digital treatments is vast. Conditions including autism, Alzheimer's, depression, anxiety, and chronic pain can all be helped by digital treatments. Because of their adaptability, digital therapies present new possibilities for patient-centered care. In addition, digital medicines may help lower healthcare expenses by substituting for or enhancing traditional treatments that are more costly. They can also be employed to combat widespread health problems like obesity and tobacco addiction. Finally, digital therapeutics can be employed in the field of mental health to disseminate proven treatments like cognitive behavioural therapy (CBT). This has the potential to not only aid in the management of mental health, but also in the prevention of mental health diseases.
Report Coverage
Global Digital Therapeutics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Digital Therapeutics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Digital Therapeutics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Digital Therapeutics market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Digital Therapeutics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Digital Therapeutics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Noom, Inc (US), Teladoc Health, Inc. (US), Omada Health, Inc. (US), WellDoc, Inc (US), Pear Therapeutics, Inc. (US), CogniFit Inc (US), Ginger (US), Propeller Health (US), 2Morrow, Inc. (US), Canary Health (US), Click Therapeutics, Inc. (US), Akili, Inc. (US), Cognoa, Inc (US), Wellthy Therapeutics Pvt. Ltd. (India), Twill Inc. (US), Better Therapeutics, Inc (US), Mindstrong (US), Kaia Health (Germany), BehaVR Inc (US), Ayogo (Canada), Mindable Health GmbH (Germany), Virta Health Corp (US), Hinge Health, Inc. (US), Orexo AB (Sweden) and Freespira (US).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Digital Therapeutics market based on the below-mentioned segments:
Global Digital Therapeutics market, By Application
Diabetes
Obesity
CVD
Respiratory Diseases
Smoking Cessation
CNS Diseases
Others
Global Digital Therapeutics Market, By End User
Patients
Providers
Payers
Employers
Others
Global Digital Therapeutics market, Regional Analysis
The term "digital therapeutics" (DTx) refers to the software and hardware used to digitally maintain therapeutic interventions based on scientific evidence for the treatment, diagnosis, and management of illness. Mental health issues, diabetes, respiratory ailments, and cardiovascular problems are just few of the many that can be helped by the software and gadgets. Rising rates of chronic conditions like diabetes, depression, cancer, and heart failure (HF) are also driving up consumer demand for these items. Patients are increasingly turning to medicines for the purpose of managing and treating a wide range of chronic conditions.
The increased smartphone prevalence in both developed and developing nations, as well as the low cost of digital health technology for both providers and consumers, are the primary factors fueling the market's expansion. In April 2022, for instance, Kepios predicted that 5 billion people, or 63% of the world's population, would be connected to the internet. Smart health tracking is predicted to become more popular as this number rises. In addition, the market will be propelled by the rising need for patient-centered care and integrated healthcare systems. The increasing prevalence of chronic diseases and supportive reimbursement policies are also anticipated to contribute to the expansion of the market.
The COVID-19 conference will have a constructive effect on the expansion of the digital therapeutics sector worldwide. As the COVID-19 epidemic spread and lockdown limitations were implemented, there was a worldwide uptick in demand for effective domestic diagnosis and treatment. Increased use of these products was also influenced by the efforts of market leaders to care for patients during the COVID-19 epidemic.
The market is being driven in part by the desire to rein in rising healthcare costs. In contrast to conventional treatment, digital medicines pose no risk to the patient and are quite inexpensive. They make high-quality, individualised medical treatment accessible to all. Care delivery costs can be lowered and productivity boosted with the use of digital therapies. Digital treatments provide a low-cost alternative to traditional medical treatment in light of the ever-increasing costs of healthcare. In addition to enhancing patient outcomes, digital therapies can help cut down on unnecessary hospital readmissions. The expense of medical treatment is one area where this could have a major impact. Furthermore, digital therapies can help doctors better manage chronic illnesses and provide access to care for underprivileged populations.
The market for digital therapies is expanding rapidly, yet there is still a lot of anxiety about patients' personal information being compromised. Due to the nature of digital therapies, it is essential that all patient data be safely stored and handled. Companies risk legal and financial consequences if sensitive patient information is compromised and used inappropriately. Additionally, the market for digital therapeutics is projected to be hampered by the absence of clear regulatory rules.
The use of digital therapeutics as a substitute for conventional medicine is gaining popularity. The growing acceptance of digital therapies among healthcare professionals and patients is likely to fuel the market's rapid expansion over the next few years. The medicinal potential of digital treatments is vast. Conditions including autism, Alzheimer's, depression, anxiety, and chronic pain can all be helped by digital treatments. Because of their adaptability, digital therapies present new possibilities for patient-centered care. In addition, digital medicines may help lower healthcare expenses by substituting for or enhancing traditional treatments that are more costly. They can also be employed to combat widespread health problems like obesity and tobacco addiction. Finally, digital therapeutics can be employed in the field of mental health to disseminate proven treatments like cognitive behavioural therapy (CBT). This has the potential to not only aid in the management of mental health, but also in the prevention of mental health diseases.
Report Coverage
Global Digital Therapeutics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Digital Therapeutics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Digital Therapeutics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Digital Therapeutics market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Noom, Inc (US), Teladoc Health, Inc. (US), Omada Health, Inc. (US), WellDoc, Inc (US), Pear Therapeutics, Inc. (US), CogniFit Inc (US), Ginger (US), Propeller Health (US), 2Morrow, Inc. (US), Canary Health (US), Click Therapeutics, Inc. (US), Akili, Inc. (US), Cognoa, Inc (US), Wellthy Therapeutics Pvt. Ltd. (India), Twill Inc. (US), Better Therapeutics, Inc (US), Mindstrong (US), Kaia Health (Germany), BehaVR Inc (US), Ayogo (Canada), Mindable Health GmbH (Germany), Virta Health Corp (US), Hinge Health, Inc. (US), Orexo AB (Sweden) and Freespira (US). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Digital Therapeutics Market from 2021 to 2030.
- Market Forecast for Digital Therapeutics Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Digital Therapeutics competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Digital Therapeutics
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Digital Therapeutics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Digital Therapeutics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Noom, Inc (US), Teladoc Health, Inc. (US), Omada Health, Inc. (US), WellDoc, Inc (US), Pear Therapeutics, Inc. (US), CogniFit Inc (US), Ginger (US), Propeller Health (US), 2Morrow, Inc. (US), Canary Health (US), Click Therapeutics, Inc. (US), Akili, Inc. (US), Cognoa, Inc (US), Wellthy Therapeutics Pvt. Ltd. (India), Twill Inc. (US), Better Therapeutics, Inc (US), Mindstrong (US), Kaia Health (Germany), BehaVR Inc (US), Ayogo (Canada), Mindable Health GmbH (Germany), Virta Health Corp (US), Hinge Health, Inc. (US), Orexo AB (Sweden) and Freespira (US).
Primary Target Market
- Market Players of Digital Therapeutics
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Digital Therapeutics market based on the below-mentioned segments:
Global Digital Therapeutics market, By Application
Diabetes
Obesity
CVD
Respiratory Diseases
Smoking Cessation
CNS Diseases
Others
Global Digital Therapeutics Market, By End User
Patients
Providers
Payers
Employers
Others
Global Digital Therapeutics market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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