New York, USA, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Digital Therapeutics Global Market to Observe Stunning Growth at a CAGR of ~28% by 2028 | DelveInsight
Digital therapeutics present a prospect to diminish healthcare costs through the facilitation of remote and effective healthcare delivery, mitigating the necessity for frequent hospital visits, and averting costly complications linked with chronic diseases. The sustained growth of the digital therapeutics market and its progression throughout the forecast period from 2023–2028 are attributed to key factors such as regulatory backing, increasing endorsement among healthcare professionals, expanded health insurance coverage, and the establishment of strategic partnerships and investments, among other influential factors.
DelveInsight’s Digital Therapeutics Market Insights report provides the current and forecast market analysis, individual leading digital therapeutics companies’ market shares, challenges, digital therapeutics market drivers, barriers, trends, and key market digital therapeutics companies in the market.
Key Takeaways from the Digital Therapeutics Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global digital therapeutics market during the forecast period.
- Notable digital therapeutics companies such as Limbix Health, Inc., GAIA AG, BigHealth, DarioHealth Corp, HYGIEIA, Akili, Inc, Pear Therapeutics (US), Inc., CANARY HEALTH, Noom, Inc., Omada Health Inc., Welldoc, Inc., 2Morrow, Inc., ResMed, Teladoc Health, Inc., Fitbit Health Solutions, and several others, are currently operating in the digital therapeutics market.
- In January 2023, Lupin Digital Health, a wholly-owned subsidiary of global pharma major Lupin Limited, launched its digital therapeutics solution, LYFE. LYFE is India’s only evidence-based holistic heart care program that significantly reduces the risk of a heart attack and improves vitals and quality of life for cardiac patients
- In May 2022, International digital therapeutics innovator, Sidekick Health, launched an integrated digital therapeutics solution for improving the outcomes of patients with Atopic Dermatitis (AD) in conjunction with Pfizer Inc. Sidekick and Pfizer will roll out their integrated digital therapeutics offering, launching first in the UK, followed by Belgium,
To read more about the latest highlights related to the digital therapeutics market, get a snapshot of the key highlights entailed in the Global Digital Therapeutics Market Report
Digital Therapeutics Overview
Digital therapeutics (DTx) represent an innovative and rapidly evolving field in healthcare that leverages digital technologies to deliver evidence-based therapeutic interventions for the prevention, management, or treatment of various medical conditions. Unlike traditional pharmaceuticals, digital therapeutics rely on software applications and digital platforms to deliver therapeutic interventions directly to patients. These interventions can include behavioral therapies, cognitive interventions, and lifestyle modification programs designed to address specific health issues.
Digital therapeutics aim to complement or replace traditional medical treatments, offering scalable and personalized solutions that can be accessed remotely. These interventions often leverage data analytics, artificial intelligence, and machine learning to tailor interventions to individual patient needs, monitor progress, and optimize treatment outcomes. The growing acceptance of digital therapeutics reflects the shift towards patient-centric, technology-driven healthcare solutions that have the potential to enhance the accessibility, affordability, and effectiveness of medical treatments. As the field continues to advance, digital therapeutics hold promise in revolutionizing healthcare delivery and empowering individuals to take a more active role in managing their health and well-being.
Digital Therapeutics Market Insights
The digital therapeutics market is anticipated to be dominated by North America, primarily due to several contributing factors. The region exhibits a significant surge in the adoption of digital therapeutic solutions by physicians and patients alike. The escalating number of individuals grappling with chronic illnesses, coupled with a growing preference for remote patient monitoring and telemedicine, plays a pivotal role in propelling the digital therapeutics sector. Additionally, the region’s substantial investments in healthcare IT infrastructure, proactive governmental initiatives, the flourishing startup ecosystem, ample funding opportunities, widespread smartphone penetration, and advancements in internet accessibility collectively foster a burgeoning demand for digital therapeutics in North America.
To know more about why North America is leading the market growth in the digital therapeutics market, get a snapshot of the Digital Therapeutics Market Outlook
Digital Therapeutics Market Dynamics
According to the International Diabetes Federation’s 2022 report, approximately 537 million individuals worldwide were living with diabetes in 2021. The projection suggests a surge in this number to around 643 million by 2030 and a staggering 783 million by 2045. Digital therapeutic applications (DTx), including Blue Star, Diabeo System, Livongo Diabetes Program, and Tidepool, leverage web-based applications or cloud platforms to deliver evidence-based, personalized, and rapid point-of-care management for chronic, behavior-modifiable conditions like diabetes mellitus. DTx contributes to improved patient compliance, therapeutic success, and economic outcomes in diabetes management through active patient engagement, lifestyle modification, comprehensive medical care, and periodic monitoring of glycemic status. The escalating prevalence of diabetes is anticipated to drive the demand for digital therapeutic software, thereby propelling the overall market for digital therapeutics.
The digital therapeutics market’s growth is poised to surge with the increasing adoption of smartphones globally, bridging the gap between developed and developing nations. The affordability of digital health technology for both patients and healthcare providers, coupled with the rising demand for patient-centered care and integrated healthcare systems, is expected to be key drivers. Major players are focusing on developing technologically advanced software, ensuring easy access for both physicians and patients, thereby propelling market growth. For instance, in July 2022, AmerisourceBergen Corporation unveiled DTx Connect, a fully integrated platform streamlining ordering, dispensing, and fulfillment for patient access to physician-ordered therapeutics and diagnostics. The platform seamlessly integrates with electronic medical records (EMR), granting physicians convenient access to prescription and non-prescription therapies.
Despite these positive trends, concerns such as cybersecurity and privacy issues, alongside challenges related to unstable payment models, may pose restrictions on the growth of the digital therapeutics market.
Get a sneak peek at the digital therapeutics market dynamics @ Digital Therapeutics Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2020–2028 |
| Digital Therapeutics Market CAGR | ~28% |
| Key Digital Therapeutics Companies | Limbix Health, Inc., GAIA AG, BigHealth, DarioHealth Corp, HYGIEIA, Akili, Inc, Pear Therapeutics (US), Inc., CANARY HEALTH, Noom, Inc., Omada Health Inc., Welldoc, Inc., 2Morrow, Inc., ResMed, Teladoc Health, Inc., Fitbit Health Solutions, among others |
Digital Therapeutics Market Assessment
- Digital Therapeutics Market Segmentation
- Digital Therapeutics Market Segmentation By Application: Prevention, Management, and Treatment
- Digital Therapeutics Market Segmentation By Indication: Diabetes, Obesity, Cardiovascular Diseases, Respiratory Diseases, and Others
- Digital Therapeutics Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the digital therapeutics market are set to emerge as the trendsetter explore @ Digital Therapeutics Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Digital Therapeutics Market |
| 7 | Digital Therapeutics Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Digital Therapeutics Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
Interested in knowing the digital therapeutics market by 2028? Click to get a snapshot of the Digital Therapeutics Market Trends
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About DelveInsight
DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.
