Between the years 2017- 2021 expected growth of the digital therapeutics market was comparatively lesser but COVID 19 pandemic gives the digital sector positive growth specifically world is more accepting of digital health, therefore the market is expected to rise. According to the report of Teladoc Health, Usage of telehealth grew by 38th-time post-pandemic. Supportive activities from key regulatory agencies, such as the FDA, aided in the acceptance of these solutions.The Global Digital Therapeutics market was valued at USD 5.09 billion in 2021 and it is predicted to reach USD 32.51 billion by 2030, rising at a compound annual growth rate (CAGR) of 26.1 % from 2022 to 2030.
Patients can receive evidence-based treatment interventions using digital therapies. It is used to prevent, manage, or treat medical conditions using software applications and equipment. To deliver patient care and health results, digital therapeutics software can be used alone or in combination with devices, drugs, or other therapies. Digital therapies products are designed, clinically validated, usable, and data security using sophisticated technological best practices. Furthermore, these products are subjected to regulatory scrutiny and approval, before being used.
Years Considered for the study:
Digital Therapeutics Market
By Application outlook:
Digital therapeutics is a new type of healthcare solution that employs digital technology to protect, monitor, and cure a variety of medical diseases. It also employs digital health technologies to treat patients with certain medical conditions, which is why it is becoming a prominent notion in today's digital age. Digital therapeutics is a subset of digital health; however, not all digital health solutions are digital therapeutics. The distinction between digital health and digital medicines is determined by patient clinical outcomes. Diabetes' share of digital healthcare will grow at a substantial CAGR from 2022 to 2030. CVD is one of the world's top causes of death. It has been proven that by monitoring health-related data using wearable devices and integrated platforms of cardio-related deaths can be avoided. The diabetes market category accounted for the largest percentage of the market's overall revenue in 2021, based on application.
By End-Use Outlook:
Patients and caregivers are part of B2C whereas payers, employers, and providers are part of B2B. The B2B segment of the digital therapeutics market is the largest and fastest-growing. A key element driving the growth of this market is pharmaceutical companies' propensity for integrating digital treatments with their medicinal products to provide adherence services. Furthermore, increased awareness of the benefits of digital pharmaceuticals among payers, employers, and providers have aided market expansion.
By Regional Outlook:
By geography, North America emerged as the market leader in digital therapeutics in 2020, with the largest market share. The predominance of significant market players, fully established healthcare infrastructure, increasing government initiatives, and the rising prevalence of chronic diseases are all contributing to this trend. Post pandemic Asia pacific region observes the highest growth.
By Key Competitors and Market Share Analysis:
Due to the rapid adoption of digital therapeutic solutions by patients, the patients' end-user category held the highest revenue share in 2021. Because of the rising use of digital health goods and advantageous reimbursement scenarios that focus on enhancing the quality of life through improved tracking and diagnostics, North America was the most dominating regional market in 2021.
Because of the rising demand for personal care devices and related services, the Asia Pacific region is predicted to develop at the quickest rate during the forecast period. Partnerships are one of the most common techniques used by market participants. ResMed, Inc. is the leading frontrunner in the Digital Therapeutics Market, according to the analysis offered in the Cardinal matrix. Pear Therapeutics, Inc., Omada Health, Inc., Noom, Inc., Mindstrong, Inc., and Welldoc, Inc. are some of the market's leading innovators.
The following are some of the major market players operating across the globe:
- Virta Health
- Akili interactive
- One Drop
- Lark Health
- Propeller Health
- Fitbit, Inc.
- Canary Health
- Mango Health
- Noom, Inc.
- Pear Therapeutics
- Happily, Health
- Ayogo Health
- Mindstrong Health
- BehaVR Inc.
- Mindable Health
- Virta Health
- Hinge Health
Scope of the report
|Actual estimates/Historical data||2017 - 2020|
|Forecast period||2022 - 2030|
|Market representation||Revenue in USD 32.51 billion & 26.1% CAGR from 2022 to 2030|
|Regional scope||North America, Europe, Asia Pacific, Latin America, MEA|
|Country scope||USA, Canada, Mexico, Brazil, Argentina, U.K., Germany, Italy, France, Spain, China, Japan, South Korea, India, Australia, Saudi Arabia, Qatar, UAE, South Africa, etc.|
|The Segment covered by||Application, End-Use|
|Companies covered||Omada , Virta Health, Biofourmis, Akili interactive, One Drop , Lark Health, Propeller Health, Fitbit, Inc., Canary Health, Mango Health, Noom, Inc., Pear Therapeutics, Happily, Health, Cognua, Ayogo Health , Mindstrong Health, Ginger, BehaVR Inc., Mindable Health , Virta Health, Hinge Health, Doktor.se|
|Report coverage||Revenue forecast, company share, competitive landscape, growth factors, and trends|
|Free customization scope (equivalent to 5 analyst working days)||If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization|
Significant Highlights of the Digital Therapeutics Market Research Report:
- The Report Provides the CAGR of the market during the forecast period 2022-2030.
- Detailed analysis and information on factors that will drive Digital Therapeutics market growth during the next five years.
- Accurate predictions on the latest and upcoming trends, changes in consumer behavior.
- The growth of the Digital Therapeutics market industry across North America can be segmented into the U.S., Canada. Europe is segmented into Germany, the UK, France and the Rest of Europe. The Asia Pacific comprises China, Japan, India, and the Rest of Asia Pacific. The rest of the world has been further segmented into Latin America and the Middle East and Africa.
- A detailed analysis of the markets competitive landscape and in-depth analysis and information on the market.
- Comprehensive details of factors that will challenge the growth of the Digital Therapeutics market.
- The report analyses all the recent major developments and helps users of the report with current industry updates.
- We calculate market size such as Historical and forecast the size of the Digital Therapeutics market in terms of Revenue (USD Million).
- Market opportunity analysis for specific demography.
- Privately held or very small players profiling in the global marketplace.
- DLF Data Analytics Model is a statistical tool that helps the company to forecast market estimates. A few of the parameters considered as a part of the statistical model include:
- Micro-economic indicators
- Macro-economic indicators
- Environmental indicators
- Socio-political indicators
- Technology indicators
The Key Audiences for Digital Therapeutics Market Report:
- Consulting Firms & Research Institutes
- Industry Leaders & Companies aims to enter the Digital Therapeutics market
- Universities and Student
- Service Providers, Product Providers, Solution Providers, and other players in the Digital Therapeutics market
- Government Bodies and Associated Private Firms
- Individuals interested to learn about the Digital Therapeutics market
Segments Covered in the Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2030. For the purpose of this report, Data Lab Forecast has segmented the global Digital Therapeutics Market report on the basis of Application, End-Use, and region:
The report segment of the global Digital Therapeutics market is as follows:
Global Digital Therapeutics Market: By Application Outlook (Revenue, USD Million, 2021 - 2030)
- CNS Disease
- Smoking Cessation
Global Digital Therapeutics Market: By End-Use Outlook (Revenue, USD Million, 2021 - 2030)
Global Digital Therapeutics Market: By Region Outlook (Revenue, USD Million, 2021 - 2030)
In case you dont find what you are looking for, please get in touch with our custom research team at email@example.com
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle East and Africa
- GCC Countries
- South Africa
- Rest of The Middle East & Africa