New Delhi, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Global digital therapeutics market was valued at US$ 5.66 billion in 2023 and is projected to surpass the market size of US$ 36.47 billion by 2032 at a CAGR of 23.0% during the forecast period of 2024-2032.
Digital therapeutics (DTx) are emerging as a transformative force in healthcare, signaling a shift from traditional pharmaceutical approaches to digital, non-pharmaceutical interventions aimed at behavior modification and enhancing overall health. These advancements suggest a move towards a more holistic health paradigm by 2025, emphasizing predictive, preventative, personalized, and participatory care. This evolution is showcased by rapid technological advances, including AI and epigenetics, alongside a societal shift towards a more engaged and personalized healthcare approach. The adoption of wearables and health monitoring devices exemplifies this trend, marking a significant change in how individuals interact with and manage their health, steering towards a future where technology and personal empowerment play key roles in healthcare.
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In line with this, in 2021, global digital health investment surged to $57.2 billion, marking a 79% increase from the previous year. Digital therapeutics (DTx) attracted heightened attention, with funding skyrocketing by 134% to $8.9 billion, highlighting a growing focus on comprehensive patient care solutions. This sector's expansion emphasizes its potential to significantly improve clinical outcomes and offer economic advantages. Numerous studies illustrate DTx's capability to notably decrease major cardiovascular event rates by 45% and cut 30-day readmission rates for heart attack patients by half, alongside reducing HbA1c levels in type 2 diabetes patients, showcasing the life-saving and cost-reducing benefits of digital disease management.
| Market Forecast (2032) | US$ 36.47 billion |
| CAGR | 23.0% |
| By Component | Software (54.5%) |
| By Application | Treatment/Care (71.9%) |
| By Sales Channel | B2B (76.6%) |
| Top Trends |
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| Top Drivers |
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| Top Challenges |
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Digital Therapeutics Revolutionizing Chronic Disease Management
The global burden of chronic diseases, such as cardiovascular disease, cancer, diabetes, and respiratory ailments, has been steadily rising and is projected to continue its ascent. In 2023, these conditions were either direct causes or contributing factors in a staggering 80% of worldwide deaths, and this figure is expected to reach as high as 84% by 2030. Therefore, effective chronic disease management faces significant challenges, notably poor medication adherence, which ranged from 69 to 79% among patients with type 2 diabetes in a 2021 global study. Addressing chronic diseases demands not only pharmaceutical interventions but also continuous monitoring and lifestyle modifications. As a result, healthcare providers are increasingly seeking comprehensive solutions that proactively monitor patients' health and foster behavioral changes for better adherence to medications, diets, and lifestyles. Wherein, digital therapeutics emerge as a promising ally, particularly given that nearly two-thirds of the global population now has internet access.
- In a study by the Poland National Health Fund involving ten thousand patients, managed care after acute myocardial infarction (AMI) resulted in a remarkable 45% reduction in the three-month major adverse cardiovascular events (MACE) rate and a 40% drop in the 12-month mortality rate.
- A collaboration between the Mayo Clinic and Healarium showed a 40% decrease in three-month rehospitalizations and emergency department visits for post-AMI patients. Additionally, there was significant weight reduction and lowered systolic blood pressure.
- Johns Hopkins and Corrie Health conducted a US study of over one thousand post-AMI patients, revealing a 50% reduction in the 30-day readmission rate through digital health-based interventions.
- Virta Health's ten-week nonrandomized parallel-arm study with 262 outpatients displayed a one-point reduction in HbA1c levels in patients with type 2 diabetes who participated in an online patient community.
Market Players are Leaving No Stone Unturn to Unlock the Full Potential of Digital Therapeutics Market
The digital therapeutics (DTx) industry has seen significant developments and shifts throughout the year 2023 and into 2022, underlining its evolving landscape and potential for future growth. Companies like Akili have adapted to direct-to-consumer models, showcasing flexibility in navigating the market. Strategic movements also include mergers and acquisitions, as observed with Pear Therapeutics, highlighting the industry's dynamic nature. Notably, Germany's DiGA pricing strategies have emphasized the importance of making DTx accessible to providers and patients, signifying a global trend towards embracing digital health solutions. The sector continues to attract attention from healthcare stakeholders worldwide, with systems and health plans in countries like France and South Korea moving towards increased adoption and reimbursement pathways for DTx. This trend underlines the growing recognition of DTx's value in enhancing patient care and outcomes. Despite facing challenges in investment funding, the industry benefits from non-dilutive funding opportunities provided by entities like NIH, pointing to a fertile ground for innovation and market entry for new players.
The global digital therapeutics market is projected to reach significant milestones, with estimations suggesting a growth to $36.47 billion by 2032. This growth is partly due to the industry's commitment to clinical efficacy, usability, and data security, distinguishing DTx solutions from general consumer wellness apps. Regulatory advancements, including the FDA's Digital Health Software Precertification (Pre-Cert) Program, aim to streamline approvals, fostering an environment conducive to innovation.
Top 3 Players Captures More than 28% Revenue Share of Global Digital Therapeutics Market
The global digital therapeutics market is experiencing significant growth, with Livongo Health, Inc., Omada Health, Inc., and Proteus Digital Health, Inc. leading the charge, collectively holding over 28% of the market's revenue share. Among these, Livongo Health, Inc. stands out as the frontrunner, showcasing effective strategies, innovative product offerings, and substantial market penetration that have established its leadership position. Livongo Health's success can be attributed to its comprehensive approach to chronic disease management, particularly in diabetes and hypertension, through a combination of advanced technology, personalized coaching, and real-time data analysis. This approach not only enhances patient outcomes but also aligns with the broader healthcare industry's shift towards value-based care. The company's ability to integrate seamlessly into users' lives and the broader healthcare ecosystem has been a key factor in its market dominance. Further amplifying its market presence, Livongo's strategic partnerships and acquisitions have expanded its reach and capabilities. For instance, its merger with Teladoc Health in 2020 has created a powerhouse in the virtual care and digital therapeutics space, poised to deliver comprehensive, end-to-end healthcare solutions. This move signifies the growing trend of consolidation in the health tech industry, aiming to provide a more integrated approach to patient care.
Omada Health and Proteus Digital Health also contribute significantly to the DTx market with their innovative solutions. Omada's focus on digital programs for chronic disease prevention and management, leveraging behavioral science, and Proteus's pioneering ingestible sensors, underscore the diverse technological advancements fueling the sector's growth. The continuous evolution of DTx, backed by solid evidence of clinical effectiveness, regulatory support, and consumer acceptance, paints a promising future for these leading companies. As they navigate challenges and seize opportunities, their strategies, product developments, and market activities will be crucial in shaping the landscape of digital health.
Top Players in Global Digital Therapeutics Market
- 2MORROW, Inc.
- Akili Interactive Labs, Inc.
- Click Therapeutics, Inc.
- Fitbit, Inc. (Twine Health, Inc.)
- Happify, Inc.
- Kaia Health
- Livongo Health, Inc.
- Medtronic Plc.
- Omada Health, Inc.
- Pear Therapeutics, Inc.
- Proteus Digital Health, Inc.
- Resmed, Inc. (Propeller Health)
- Voluntis, Inc.
- Welldoc, Inc.
- Other Prominent Players
Astute Analytica has segmented Global Digital Therapeutics Market report based on Component, Application, Sales Channel, and Region
By Component:
- Hardware
- Software
- Services
By Application:
- Preventive Applications
- Prediabetes
- Obesity
- Nutrition
- Lifestyle Management
- Others
- Treatment/Care-related Applications
- Diabetes
- CNS Disorders
- Mental Health Disorder
- Other CNS Disorders
- Chronic Respiratory Disorders
- Musculoskeletal Disorders
- Cardiovascular Diseases
- Smoking Cessation
- Medication Adherence
- Gastrointestinal Disorders
- Substance Use & Addiction Management
- Rehabilitation & Patient Care
By Sales Channel:
- Business-to-business (B2B)
- Employer
- Healthcare Provider
- Payers
- Pharmaceutical Companies
- Others
- Business-to-consumer (B2C)
- Patient
- Caregiver
By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (Western Europe [The UK, France, Germany, Italy, Spain Rest of Western Europe], Eastern Europe [Poland, Russia, Rest of Europe])
- Asia Pacific (Japan, China, India, Australia & New Zealand, ASEAN, Rest of Asia pacific)
- South America (Brazil, Argentina, Rest of South America)
- Middle East (UAE, Saudi Arabia, Egypt, Rest of Middle East)
- Africa (South Africa, Nigeria, Rest of Africa)
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