REPORT HIGHLIGHT
Digital therapeutics market size was valued at USD 4,771.0 Million in 2022, expanding at a CAGR of 33.9% from 2023 to 2030.
Digital therapeutics refers to hardware and software that digitally preserve evidence-based therapeutic actions for the prevention and management of the disease. Additionally, the software and tools support the management of various ailments connected to respiratory, cardiovascular, and mental health issues. Moreover, increasing case of chronic diseases like cancer, heart failure, diabetes, and mental illness is a factor attributed to the rising demand for this market.
Digital Therapeutics Market- Market Dynamics:
The rising requirement to control healthcare costs, increasing use of tablets & smartphones coupled with healthcare applications, advantages of the entire process of healthcare, and rising chronic disease incidence is likely to propel the demand for the global digital therapeutics market. However, therapeutic products have their limitations including false information and over-predictive results which may restrain the market growth of digital therapeutics.
Furthermore, the cost-effectiveness of digital health technologies for patients and providers, the increasing requirement for integrated health systems, and patient-centered care contributed to offering massive opportunities for the digital therapeutics market. The COVID-19 pandemic impacted the digital therapeutics market positively. The increase in the prevalence of mental illness, awareness regarding the importance of digital health, and the increase in the rate of drug abuse worldwide. In addition, during the pandemic and government stringent regulation people had to stay at home, which led to unhealthy lifestyles, less physical activity, and mental stress this in turn increased the case of chronic disease which is anticipated to increase the demand for digital therapeutics.
Digital Therapeutics Market- Segmentation Analysis:
- The global digital therapeutics market is segmented on the basis of product type, sales channel, applications, and region.
- The market is divided into two categories based on product type: software and devices. The software sector is likely to maintain its dominance. It assists patients with medication adherence coupled with personalized care that provides long-term behavioral change.
- The market is divided into two categories based on sales channel: business-to-business (B2B) and business-to-consumers (B2C). The B2B sector is expected to hold the largest market share. The rising awareness among payers, employers, and providers about the advantages of digital therapeutics is attributed to an increase in the demand for this segment.
- The market is divided into seven categories based on application: diabetes, obesity, cardiovascular disease (CVD), diseases of the actual central nervous system (CNS), respiratory conditions, quitting smoking, gastrointestinal problems, and others. The diabetes sector is likely to possess the market over the forecast period. The rising need and surging awareness are associated with various advantages provided by this therapeutics for the precise management of diabetes.
Digital Therapeutics Market-Competitive Landscape:
For patients with medical conditions digital therapeutics has become an important treatment option due to personalized treatment programs and various strategies adopted y market players, Additionally, the strategies adopted by the market players include, product approval, new product launches, partnership, collaboration, R&D spending, mergers & acquisitions, and distribution network development. Moreover, the rising chronic disease cases such as diabetes, heart disease, and anxiety disorders have prompted key players to pursue digital treatment in the market. For instance, in January 2023, Lupin announced the launch of LYFE, its Digital Therapeutic Solution for Holistic Heart Care. Additionally, it is only evidence-based holistic heart care program in India's, which significantly minimizes the risk of a heart attack and improves quality and vitals of life for cardiac patients.
Key features of the study:
- This proposed research study on digital therapeutics market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for digital therapeutics market.
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the digital therapeutics market.
- Impact of COVID-19 on digital therapeutics market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on digital therapeutics market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the digital therapeutics market, we have also included competitive landscape and key innovator analysis for the digital therapeutics market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the digital therapeutics market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global digital therapeutics market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL DIGITAL THERAPEUTICS MARKET KEY PLAYERS
- Click Therapeutics, Inc.
- Proteus Digital Health, Inc.
- Pear Therapeutics
- Welldoc, Inc.
- 2MORROW, Inc.
- Happify
- Fitbit, Inc. (Twine Health, Inc.)
- Resmed, Inc. (Propeller Health)
- Medtronic Plc.
- Kaia Health
- Akili Interactive Labs, Inc.
- Livongo Health, Inc.
- Omada Health, Inc.
- Voluntis, Inc.
GLOBALDIGITAL THERAPEUTICS MARKET, BY PRODUCT TYPE
GLOBAL DIGITAL THERAPEUTICS MARKET, BY SALES CHANNEL
- Business-to-business (B2B)
- Business-to-consumers (B2C)
GLOBAL DIGITAL THERAPEUTICS MARKET, BY APPLICATIONS
- Diabetes
- Obesity
- Cardiovascular Disease (CVD)
- Diseases of the actual Central Nervous System (CNS)
- Respiratory Conditions
- Quitting Smoking
- Gastrointestinal Problems
- Others
GLOBAL DIGITAL THERAPEUTICS MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA