Meticulous Research®—a leading global market research company, published a research report titled ‘Digital Therapeutics Market by Component (Software, Device), Application (Diabetes, Respiratory, CNS, Gastrointestinal, Cardiovascular, Addiction, Rehabilitation, Obesity, Nutrition), End User (Patient, Payer, Provider, Employer)—Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the global digital therapeutics market is projected to reach $22.16 billion by 2030 at a CAGR of 20.3%. The growth of this market is mainly attributed to the increasing need to reduce healthcare costs, the rising prevalence of chronic diseases, the high adoption of digital healthcare, and the increasing focus on preventive healthcare. Moreover, untapped markets in emerging economies and expanding pipelines for digital therapeutic solutions for various therapy areas offer significant opportunities for the growth of this market.
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Digital Therapeutics Market: Future Outlook
The global digital therapeutics market is segmented by Component (Software, Device), Application (Care-related {Diabetes, CNS Disorders, Respiratory Disorders, Gastrointestinal Disorders, Smoking Cessation, Cardiovascular Diseases, Medication Adherence, Addiction Management, Rehabilitation and Patient Care, and Other Care-related Applications}, Preventive {Obesity, Prediabetes, Nutrition, and Other Preventive Applications}, End User (Payers, Patients & Caregivers, Providers, Employers), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.
Based on component, in 2023, the software segment is expected to account for the largest share of the digital therapeutics market. Digital therapeutic software reduce healthcare costs and support the trend of preventive healthcare. Furthermore, the increasing penetration of mobile phones has increased the adoption of digital health technologies in the healthcare industry. Players operating in this market are focusing on developing various digital therapeutic solutions for different therapeutic areas, supporting the segment’s largest share.
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Based on application, the digital therapeutics market is segmented into care-related applications and preventive applications. The care-related applications segment is further segmented into diabetes, central nervous system (CNS) disorders, respiratory disorders, gastrointestinal disorders, smoking cessation, cardiovascular diseases, medication adherence, addiction management, rehabilitation and patient care, and other care-related applications. In 2023, the care-related applications segment is expected to account for the largest share of the digital therapeutics market due to the availability of cost-effective mHealth platforms, the increasing need to control healthcare costs, high investments, and strategic collaborations among stakeholders to launch care-related solutions.
Based on end user, in 2023, the patients & caregivers segment is expected to account for the largest share of the digital therapeutics market. The large market share of this segment is attributed to the increasing awareness and approvals of digital therapeutic solutions, the high adoption of mHealth platforms, and the trend of preventive healthcare among patients.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the digital therapeutics market. The large share of this market is attributed to the increased usage of digital health products, the increasing incidence of chronic diseases, and government initiatives to support digital healthcare.
The key players operating in the global digital therapeutics market are Noom, Inc. (U.S.), 2Morrow Inc. (U.S.), GAIA AG (Germany), Propeller Health (U.S.), Canary Health (U.S.), Welldoc, Inc. (U.S.), DarioHealth Corp. (U.S.), Akili, Inc. (U.S.), Pear Therapeutics (US), Inc. (U.S.), BigHealth (U.S.), Teladoc Health, Inc. (U.S.), Limbix Health, Inc. (U.S.), Kaia Health Software Inc. (Germany), Better Therapeutics, Inc (U.S.), and Fitbit LLC (U.S.).
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Key questions answered in the report-
- Which are the high-growth market segments in terms of component, application, end user, and regions/countries?
- What was the historical market for digital therapeutics across the globe?
- What are the market forecasts and estimates for the period 2023–2030?
- What are the major drivers, restraints, challenges, opportunities, and trends in the global digital therapeutics market?
- Who are the major players in the global digital therapeutics market?
- How is the competitive landscape, and who are the market leaders in the global digital therapeutics market?
- What are the recent developments in the digital therapeutics market?
- What are the different strategies adopted by the major players in the digital therapeutics market?
- What are the geographical trends and high growth regions/countries?
Author:
Mr. Khushal Bombe
Meticulous Market Research Inc.
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