The global digital therapeutics market is projected to reach USD 17.7 billion by 2027 from USD 4.5 billion in 2022, at a CAGR of 31.6% during the forecast period.
Digital Therapeutics Market Overview:
Digital therapeutics, also known as software-driven therapeutics, are health interventions delivered through digital devices to improve patient outcomes. Digital therapeutics are used to treat a wide variety of conditions, such as diabetes, hypertension, asthma, depression, and chronic pain. The digital therapeutics market is expected to grow significantly due to advances in technology and the increasing demand for digital health solutions.
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The digital therapeutics market is driven by the increasing use of digital therapeutics to treat chronic diseases. Digital therapeutics have been shown to be effective in managing chronic conditions such as hypertension, diabetes, and asthma. Additionally, they are cost-effective and easy to use. As a result, they are becoming increasingly popular among healthcare providers and patients.
The increasing use of mobile health (mHealth) apps and wearables are also driving the growth of the digital therapeutics market. mHealth apps and wearables can provide personalized feedback, helping patients to better manage their health. Furthermore, the growing demand for remote patient monitoring is driving the growth of the digital therapeutics market. Remote patient monitoring allows healthcare providers to monitor patients’ health from anywhere.
Furthermore, the growing adoption of artificial intelligence (AI) and machine learning (ML) is also driving the growth of the digital therapeutics market. AI and ML are used to analyze patient data to provide personalized insights about health and assist in the diagnosis of diseases. They can also be used to develop algorithms that can predict patient outcomes and provide personalized treatment plans.
The global digital therapeutics market is expected to grow significantly during the forecast period. The increasing demand for digital health solutions, the growing adoption of mHealth apps and wearables, and the growing use of AI and ML are some of the major factors driving the growth of the market. Furthermore, the increasing investment in digital therapeutics and the growing use of digital therapeutics in clinical trials are also expected to fuel market growth.
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Key Market Players:
Prominent players in the digital therapeutics market include 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).
Digital Therapeutics Market Report Segmentation
By Sales Channel
- B2C
- Patients
- Caregivers
- B2B
- Providers
- Payers
- Employers
- Pharmaceutical Companies
- Other Buyers
By Application
- Preventive Applications
- Treatment/Care-related Applications
By Region
- North America
- Europe
- APAC
- Rest of the World (RoW)
Recent Developments:
- In August 2022, Pear Therapeutics (US) entered into an agreement with SelectHealth (US) to provide members with covered access to Pear’s innovative prescription digital therapeutic (PDT), reSET-O, for treating opioid use disorder (OUD) as an adjunct to outpatient treatment.
- In March 2022, Omada Health (US) integrated behavioral health support into its programs (Diabetes Prevention, Diabetes Management, Hypertension, and Musculoskeletal). The new behavioral health integration comprises anxiety and depression assessment, resources to manage social health determinants, like food access, stress management, and sleep tools.
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