The Global Digital Therapeutics Market is estimated to witness a major jump in revenue from US$ 3,744.3 Million in 2021 to US$ 24,143.3 Million by 2030. The market is registering a CAGR of 23.1% over the projection period 2022-2030.
Market Snapshot
Digital Therapeutics (DTx) is a mobile software application that treats a disease or condition. It is changing the healthcare delivery system with evidence-based technologies that improve patient outcomes. DTx delivers medical interventions directly to patients using evidence-based, clinically evaluated software to treat, manage and prevent a broad spectrum of diseases and disorders. The products also offer meaningful solutions to healthcare delivery systems impacted by the Covid-19 pandemic. Digital therapeutics use easily scalable technologies to impact complex healthcare challenges. Digital therapeutics can support patients in self-managing symptoms and thereby improve their quality of life and other clinical endpoints. DTx uses digital implements like mobile devices, apps, sensors, virtual reality, the Internet of Things, and other tools to spur behavioral changes in patients.
Market Dynamics
Increasing the use of wearable devices and investment in digital health will boost the market for digital therapeutics. Wearables and digital therapeutics are driving a more patient-focused, preventative approach to healthcare. The use of wearable devices with digital therapeutic solutions will enable people to manage their symptoms and reduced the chances of any fatality or permanent disability. In addition, the growing prevalence of chronic diseases will increase the demand for the growth of the market. Moreover, the integration of digital therapeutics with other digital health measures such as telemedicine will contribute to the growth of the market over the forecasting period. Digital health refers to the use of digital technologies in health programming and financing. However, the reluctance among people to use digital therapeutics and privacy concerns are major restraining factors faced by digital therapeutics providers which hamper the growth of the market.
Key Insights of the Report:
Regulations/Standard of Digital Therapeutics
This standard supports and further accelerates the digitalization of the country’s healthcare system. The legislation creates numerous opportunities for health tech companies looking to enter the German market. For example, under the new laws, doctors are not only allowed to prescribe accredited digital health apps; their costs are also covered by the statutory health insurance system.
Digital therapeutics are covered by European Union (EU) regulation 2017/745 on medical devices, which came into force on 26 May 2021. The EU Medical Device Regulation (MDR) resulted in a more stringent pre-market security mechanism which provides greater regulatory oversite from notified bodies and provides additional rules on clinical evidence and post-market surveillance.
The guidelines were issued by the Oncology Center of Excellence, Center for Biologics Evaluation and Research, Center for Devices and Radiological Health, and Center for Drug Evaluation and Research. This guidance provides recommendations to sponsors, investigators, and other stakeholders on the use of digital health technologies (DHTs) to acquire data remotely from participants in clinical investigations evaluating medical products.
Key Takeaways from the Global Digital Therapeutics (DTx) Market Report
Competitive Landscape
The key players in the Global Digital Therapeutics (DTx) Market are Livongo Health, Inc., Omada Health, Inc., Proteus Digital Health, Inc., Akili Interactive Labs, Inc., 2Morrow Inc., Click Therapeutics Inc., Happify Health, Kaia Health, Teladoc Health, Inc., Medtronic, Pear Therapeutics, Inc., ResMed and Voluntis among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on emerging markets. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
The global Digital Therapeutics Market is segmented based on component, application, sales channel, and region. The industry trends in global digital therapeutics market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Digital Therapeutics (DTx) Market:
By Component segment of the Global Digital Therapeutics (DTx) Market is sub-segmented into:
By Application segment of the Global Digital Therapeutics (DTx) Market is sub-segmented into:
By Sales Channel segment of the Global Digital Therapeutics (DTx) Market is sub-segmented into:
By Region segment of the Global Digital Therapeutics (DTx) Market is sub-segmented into:
| Report Attribute | Details |
|---|---|
| Market Size Value in 2021 | US$ 3,744.3 Mn |
| Expected Revenue in 2030 | US$ 24,143.3 Mn |
| Historic Data | 2017-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Unit | Value (USD Mn) |
| CAGR | 23.1% |
| Segments covered | By Component, Application, Sales Channel, and Region |
| Key Companies | Livongo Health, Inc., Omada Health, Inc., Proteus Digital Health, Inc., Akili Interactive Labs, and other prominent players. |
| Customization Scope | Get your customized report as per your preference. Ask for customization |
Digital Therapeutics (DTx) is a mobile software application that treats a disease or condition. It provides evidence-based technologies that helps in improving patient outcomes.
Digital therapeutics software application can be used independently or in combination with medications or devices to impact complex healthcare challenges in order to provide patient care and health outcomes.
Digital therapeutics support patients in self-managing symptoms by using digital implements like mobile devices, apps, sensors, virtual reality, the Internet of Things and other tools in order to spur behavioural changes in patients.
The growth rate of the global digital therapeutics market is 23.1%, with an estimated value of US$ 24,143.3 Million by 2030.
Factors such as increasing use of wearable devices and investment in digital health are driving the growth in the global digital therapeutics market.
The key trends in the digital therapeutics market are the adoption of different strategies by market players such as product launches, acquisition, mergers and partnerships to strengthen their market position at global level.
The treatment/care related application segment lead the global digital therapeutics market in 2021.
The reluctance among people to use digital therapeutics and privacy concerns are major restraining factors faced by digital therapeutics providers which hampers the growth of the market.
Components, application and sales channel are the different segments of the global digital therapeutics market.
The Business-to-Business (B2B) is further bifurcated into Employer, Healthcare Provider, Payers, Pharmaceutical Companies and Others.
Poland is expected to project the highest CAGR in the Europe Digital Therapeutics Market during the forecast period.
Livongo Health, Inc., Omada Health, Inc., Proteus Digital Health, Inc., Akili Interactive Labs, Inc., 2Morrow Inc., Click Therapeutics Inc., Happify Health, Kaia Health, Teladoc Health, Inc., Medtronic, Pear Therapeutics, Inc., ResMed and Voluntis among others are some key players in the global digital therapeutics market.
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