The Digital Therapeutics market was estimated to be worth US$ 4.25 billion in 2021 and is projected to grow by 24% year over year to US$ 5.27 billion by the end of 2022. From 2022 to 2032, the industry is anticipated to increase at a CAGR of 26.5% and reach US$ 56.41 Bn. The digital therapeutics market refers to the use of digital technologies, such as mobile apps, wearables, and software, to treat and manage medical conditions. This approach is sometimes called “software as a drug” because it delivers evidence-based interventions through technology instead of traditional medications
Digital therapeutics are used to treat a wide range of medical conditions, including diabetes, hypertension, mental health disorders, and substance abuse. They are often used in combination with traditional therapies, such as medication and behavioral therapy, to improve outcomes and reduce healthcare costs.
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The market is highly competitive, with numerous companies developing and commercializing digital therapeutics products. Some of the leading players in the digital therapeutics market include Pear Therapeutics, Omada Health, Proteus Digital Health, and Akili Interactive Labs. Regulatory agencies such as the U.S. Food and Drug Administration (FDA) are also playing an increasing role in shaping the market by approving and regulating digital therapeutics products
Key Takeaways from the Market Study
- Globally, the digital therapeutics market is estimated to be worth US$ 5.27 Bn by 2022
- North America will hold a prominent position with 42% of global revenue by 2022
- Asia Pacific to flourish at a CAGR of 20% in the digital therapeutics domain until 2032
- By treatment, digital therapeutics for diabetes to comprise 28% of global market revenue
- Treatment for obesity to experience nearly 2x growth from 2022 to 2032
- The patient end-user segment will account for 32.5% of global revenue in 2022
Competitive Landscape
The market is dominated by several key players, who focus on innovative strategies for increasing revenues, such as mergers and acquisitions, market penetration, partnerships, and distribution agreements.
- The Teladoc Company, for example, expanded its partnership with the National Labor Alliance in December 2021. Among the products and services offered were specialty care, general medicine, expert medical services, mental health, virtual primary care programs, and chronic disease management.
- In 2021, Dexcom and Welldoc developed a comprehensive integrated platform that enhances the quality of life for those with diabetes type 2. By using the Dexcom G6 system to measure glucose levels beneath the skin, BlueStar helps people living with diabetes manage the complex process.
- In 2021, Voluntis had a patent granted by the European Patent Office (EPO) for a digital therapeutic platform using its Theraxium platform to support intelligent drug dosing for diabetes titration.
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Key Companies Profiled
- Omada Health Inc.
- WellDoc, Inc.
- 2Morrow, Inc.
- Livongo Health, Inc. (Teladoc Health Inc.)
- Propeller Health
- Fitbit Inc.
- Canary Health
- Mango Health
- Noom, Inc.
- Pear Therapeutics
- Dexcom
- Voluntis
Regional Analysis
North America currently dominates the digital therapeutics market, accounting for the largest share of the global market. This is due to the high adoption of digital health technologies in the region, strong regulatory framework, and the presence of several key players. The United States is the largest market in North America, driven by factors such as the high prevalence of chronic diseases, increasing healthcare costs, and the growing demand for personalized healthcare solutions.
Europe is the second-largest market for digital therapeutics, driven by factors such as the increasing burden of chronic diseases, the growing adoption of digital health technologies, and favorable regulatory policies. The United Kingdom, Germany, and France are the leading markets in Europe.
Asia Pacific is expected to grow at the highest CAGR during the forecast period. This is due to the increasing focus on digital health initiatives, rising healthcare expenditure, and growing awareness about the benefits of digital therapeutics. China, Japan, and India are the leading markets in Asia Pacific.
Latin America and Middle East & Africa are expected to show significant growth during the forecast period, driven by factors such as the increasing prevalence of chronic diseases, improving healthcare infrastructure, and the growing adoption of digital health technologies. Brazil, Mexico, and Saudi Arabia are some of the leading markets in these regions