Global Digital Therapeutics Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing prevalence of chronic diseases, rising adoption and demand of smart digital healthcare applications and growing number of supportive government initiatives are some of the major factors driving the growth of the Digital Therapeutics Market.
Global Digital Therapeutics Market is valued at USD 4.19 Billion in 2021 and expected to reach USD 21.50 Billion by 2028 with the CAGR of 26.3% over the forecast period.
The customized, tech-based tools that use specialized high-quality software to help treat, manage or avoid a broad spectrum of physical, mental and behavioral health conditions is called as digital therapeutics. Sensors, mobile health, telehealth, wearable devices are some of the digital health technologies. Digital therapeutics have developed as game-changing source to help patients properly manage their conditions, while effortlessly integrating with their existing healthcare plan.
The Covid-19 has a shown positive impact on the global digital therapeutics market. The digital health field’s explosive growth during the Covid-19 pandemic is helping these companies carve out a space for their products and the awareness about using digital therapeutic products was increased amongst people which has positively impacted the market growth.
The global digital therapeutics market is segmented on the basis of product application, end users and region & country level. On the basis of product, the market is classified into devices and software. On the basis of application, the global market is classified into obesity, CVD, CNS disease, respiratory disease, diabetes, smoking cessation, cardiovascular diseases and others. On the basis of end users, the digital therapeutics market is classified into patients, providers, payers, employers and others.
The regions covered in global digital therapeutics market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of digital therapeutics market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
Some of the key players for digital therapeutics market report cover are -
One of the major factors driving the growth of the global digital therapeutics is increasing prevalence of chronic diseases. For instance; as per World Health Organization 7.9 million people die each year from CVDs. Thus, high occurrence of chronic diseases is driving the demand for digital therapeutics for better health assistance with high technologies. In addition, rising adoption and demand of digital healthcare applications are also supplementing the market growth. The Covid-19 opened new era of digitalization and digital therapeutics market and mobile technologies like monitoring devices, patients can take control of their health through easy-to-use apps. For instance; as per news published in September 2020; Walgreens launched Austin-TX-based digital health company, ATX therapeutics, which aimed to provide digital therapeutics products to chronic diseases and risk associate behaviors in the U.S.
Moreover, growing number of supportive initiatives by government to increase digitalization and to improve healthcare sector are also augumenting the market growth. For instance; the Food and Drug Administration U.S.A developed The Software Precertification (Pre-Cert) Pilot Program the Software Pre-Cert Pilot Program as a part of the Digital Health Innovation Action Plan projected for a more efficient regulatory oversight of Software-based Medical Devices (SaMD) developed by manufacturers. These initiatives are further boosting market growth of the digital therapeutics market.
However, concern regarding patient data privacy may hamper the market growth. In spite of that, rising technological advancements in emerging countries will provide more opportunities for the further growth of the digital therapeutics market.
North America is expected to dominate the digital therapeutics market due to the increasing number of chronic diseases, presence of major key players and technological advancements in digital therapeutics and as well early adoption of technologies and rising government initiatives for digitalization in this region. The increasing number of chronic diseases is driving the market growth of the digital therapeutics for disease prevention. For instance; as per Center for Disease Control and Prevention 6 in 10 adults in the US have a chronic disease every year. In addition, presence of major key players and rising number of product launches are also supplementing the market growth in this region. For instance; on July 27th, 2022; AmerisourceBergen launched Digital Therapeutics Platform to Facilitate access to innovative products. Moreover, technological advancements in his field are also boosting market growth. For example; on September 14th, 2022 Trinity Health and Orexo US collaborated for the goals to increase patient access to digital therapeutics to treat depression and alcohol abuse in North Dakota and Montana.
Asia Pacific is expected to be fastest growing region for the digital therapeutics market due increasing digitalization to healthcare infrastructure, rising demand of digital therapeutics and adoption of smart healthcare system in this region. For instance; as per news published by live mint on September 7th, 2022; India's healthcare industry is expected to grow to hit $50 billion in size by 2025 to increase investment in digital healthcare tools in the coming five years which is fueling market growth. The demand of digital therapeutics is increasing in emerging countries such as India and China. For example; on February 28th, 2021; Otsuka launched pivotal trial of digital therapeutics for depression.
On September 14th, 2022; Trinity Health and Orexo US collaborated for the goals to increase patient access to digital therapeutics to treat depression and alcohol abuse in North Dakota and Montana. The companies aimed to improve patient access to these treatments through this partnership.
On July 27th, 2022; DTx Connect, a fully integrated ordering, dispensing and fulfillment platform was announced by AmerisourceBergen to launch DTx Connect. The patients can access to physician-ordered digital therapeutics and diagnostics with the help of this a fully integrated ordering, dispensing and fulfillment platform.
28th February, 2021; Click Therapeutics partnered with Otsuka Pharmaceutical for launching a remote clinical trial to evaluate the effectiveness of digital therapeutics in reducing depressive symptoms. The companies first partnership was for programs a digital health startup that is developing programs for smoking cessation, depression and insomnia.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 4.19 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||26.3 %|
|Market Size Expected in 2028:||USD 21.50 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Click Therapeutics, Noom, Pear Therapeutics, Livongo Health, Omada Health, WellDoc, Pear Therapeutics, Akili Interactive Labs, Proteus Digital Health, Akili Interactive Labs, Better Therapeutics, Click Therapeutics, Canary Health, Happify, Kaia Health, Mango Heath and others|
|Segments Covered||By Product, By End-Users, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|