Digital Therapeutics Market Research Report Information By Product Type (Software, Devices, Others), By Application (Cardiovascular Diseases, Obesity, Diabetes, Respiratory Diseases, Smoking Cessation, Others), By Sales Channel (B2B, B2C), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2030
Digital Therapeutics Market Size was valued at USD 6.5 billion in 2022. The Digital Therapeutic market industry is projected to grow from USD 8.1315 Billion in 2023 to USD 31.15 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 25.10% during the forecast period (2023 – 2030). With the rapidly soaring worldwide geriatric populace, chronic disorders will continue to surge in the next several years. These are the key market drivers enhancing the market growth.
The digital therapeutics market refers to the use of digital technology, such as software, mobile applications, and other digital platforms, to deliver therapeutic interventions to patients. These interventions are designed to prevent, manage, or treat a medical disorder or disease, often in conjunction with traditional medical treatment. Digital therapeutics can be used to improve patient outcomes, reduce healthcare costs, and increase patient engagement and adherence to treatment plans. The COVID-19 pandemic has accelerated the adoption of digital health solutions, including digital therapeutics, due to the increased demand for remote healthcare services and the need for social distancing. The pandemic has also highlighted the importance of digital health tools in maintaining continuity of care for patients with chronic conditions, and in supporting mental health and wellbeing.
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Digital Therapeutics Market Segmentation
The Global Digital therapeutics market has been segmented into Application, Product, and End-user.
Based on the Application, the market has been segmented into Diabetes, Weight Management, Cardiovascular Diseases, Respiratory Diseases, and Others.
Based on the Product, the market has been segmented into Software and Devices.
Based on the End-user, the market has been segmented into Patients and Caregivers
Digital Therapeutics Market Key Players
Some of the key market players are
- Omada Health, Inc.
- Pear Therapeutics
- Akili Interactive Labs
- Click Therapeutics
- Propeller Health
- Canary Health
- Medtronic plc
- 2Morrow, Inc.
Digital Therapeutics Market Regional Analysis
North America is currently the largest market for digital therapeutics, with the United States being the major contributor to the market’s growth. The region has a well-established healthcare infrastructure, high adoption of digital health technologies, and a favorable reimbursement scenario, which has propelled the growth of the digital therapeutics market in North America.
Europe is the second-largest market for digital therapeutics, and the growth is primarily driven by the increasing demand for cost-effective and innovative healthcare solutions. Several European countries have well-established healthcare systems and a strong focus on preventive healthcare, which has led to the adoption of digital therapeutics solutions.
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The Asia Pacific region is expected to witness significant growth in the digital therapeutics market due to the increasing prevalence of chronic diseases, rising healthcare expenditure, and the growing adoption of smartphones and other mobile devices. Countries such as China, India, and Japan are expected to contribute significantly to the growth of the market in the region.
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