The report "Digital Therapeutics Market Size, Growth by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel B2C (Patient, Caregiver), B2B ( Providers, Payer, Employer, Pharma) - Global Forecasts to 2027", is projected to reach USD 17.7 billion by 2027, at a CAGR of 31.6%.

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Digital therapeutics are a new type of medical treatment that relies on digital technology to treat a wide range of diseases. These treatments use digital technology to provide a personalized, tailored treatment to an individual patient. The digital therapeutics market has seen tremendous growth in recent years, as more companies are investing in the development of these treatments.

The digital therapeutics market is expected to experience significant growth over the next few years. This growth is being driven by the increasing prevalence of chronic diseases, the growing demand for personalized healthcare, and the availability of digital technology. Additionally, the emergence of new technologies such as AI and machine learning will further expand the scope of digital therapeutics and provide more personalized treatment options to patients.

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Key Market Players

The digital therapeutics market is a highly diversified and competitive market, with several emerging players. The prominent players in this market include are 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).

Noom, Inc. (US) is among the world leaders digital therapeutics market in providing high-quality solutions for weight management, diabetes prevention, and stress reduction. Noom has been awarded multiple grants from the National Institutes of Health and provided the first mobile application recognized by the US CDC as a certified diabetes prevention program.

Teladoc Health, Inc. (US) is one of the prominent players digital therapeutics market. The company uses proprietary health signals and personalized interactions to improve health outcomes. It mainly targets diabetes, hypertension, weight management, diabetes prevention, and mental health. In February 2022, Teladoc Health, Inc. launched the Chronic Care Complete program, a chronic condition management solution to help individuals improve their health outcomes while living with multiple chronic conditions.

Omada Health, Inc (US)  is one of the leading player digital therapeutics market. The company provides integrated, virtual care across chronic conditions, a top clinical need for employers and health plans. In June 2019, the company secured USD 73 million from its investors to develop digital care health programs focusing on preventable chronic conditions.

North America is expected to hold the largest share of the digital therapeutics market

The digital therapeutics market has been segmented into four main regional segments: North America, Europe, the Asia Pacific, and Rest of the World. North America is expected to hold the largest share of this market, followed by Europe in 2022. The market in North America is also expected to grow at the highest CAGR. The large share can be attributed to the rising number of new start-ups in digital therapeutics market and slowly developing reimbursement structures for digital therapeutics solutions.

Recent Developments:

• Philips and Wellbeing Digital Solutions: In April 2021, Philips announced the acquisition of Wellbeing Digital Solutions (WDS). WDS is a digital therapeutics company that develops digital solutions to improve patient engagement and outcomes in chronic conditions. The acquisition will allow Philips to expand its portfolio of digital health solutions and capabilities in chronic disease management and remote care.
• Novartis and Akili Interactive Labs: In June 2021, Novartis announced that it has entered into a definitive agreement to acquire Akili Interactive Labs, a digital therapeutics company focused on developing treatments for neurological and psychological conditions. Through the acquisition, Novartis will gain access to Akili’s digital therapeutics platform, which includes a library of clinical evidence and a portfolio of digital therapeutics programs in development.
• Merck and HealthPrize Technologies: In January 2021, Merck announced that it has entered into a definitive agreement to acquire HealthPrize Technologies, a digital therapeutics company focused on helping patients stay on top of their medications. The acquisition will enable Merck to enhance its digital health offerings and expand its presence in the digital therapeutics market.
• Illumina and GRAIL: In January 2021, Illumina announced that it has entered into a definitive agreement to acquire GRAIL, a digital therapeutics company focused on developing and commercializing multi-cancer early detection products. Through the acquisition, Illumina will gain access to GRAIL’s patented technologies and products, which will enable the company to expand its portfolio of healthcare solutions.

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