According to IMARC Group latest report titled “Digital Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on global digital therapeutics industry size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global digital therapeutics market reached a value of US$ 4.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.4 Billion by 2027, exhibiting a CAGR of 21.7% during 2022-2027.
Digital therapeutics (DTx) aid in delivering evidence-based restorative interventions to patients. They assist in providing therapy solutions, enhancing the existing medical treatments, and reducing reliance on pharmaceuticals using high-quality software programs. Digital therapeutics also manage, prevent, and treat mental, physical, and behavioral health and find application in diagnosing various conditions, such as type II diabetes, Alzheimer’s disease, and respiratory disorders, including gastrointestinal problems, asthma, and chronic obstructive pulmonary disease. As a result, this technique finds extensive utilization among healthcare providers, patients, payers, employers, etc., across the globe.
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Market Trends:
The escalating sales of smart devices, such as tablets and mobile phones, the high internet penetration, and the rising number of healthcare applications are among the primary factors driving the digital therapeutics market. Besides this, the elevating requirement for this technique in neuroscience indications, including attention deficit hyperactivity disorder (ADHD), depression, autism spectrum disorder (ASD), schizophrenia, and bipolar disease, is further augmenting the market growth. Moreover, the increasing need for digital therapeutics, as they reduce healthcare costs and support the overall well-being of patients, is also catalyzing the global market. Apart from this, the growing prevalence of chronic illnesses, such as diabetes and obesity, and the necessity for controlling expenses of medical treatments are acting as significant growth-inducing factors. Furthermore, pharmaceutical companies across the globe are investing and engaging in strategic partnerships to expand their product portfolio, provide patients with information concerning several conditions and subsequent treatments, and organize, track, and self-managing their diseases, which are anticipated to propel the digital therapeutics market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- 2Morrow Inc.
- Canary Health Inc.
- Click Therapeutics Inc.
- Mango Health Inc.
- Noom Health Inc.
- Omada Health Inc.
- Pear Therapeutics, Inc.
- Propeller Health
- Teladoc Health Inc.
- Voluntis Inc.
- WellDoc Inc
Digital Therapeutics Market Segmentation:
Our report has categorized the market based on region, application and end use.
Breakup by Application:
- Diabetes
- Obesity
- CVD
- CNS Disease
- Respiratory Diseases
- Smoking Cessation
- Others
Breakup by End Use:
- Patients
- Providers
- Payers
- Employers
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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