The digital therapeutics market is expected to increase at a CAGR of 26.5% between 2022 and 2032, reaching US$ 56.41 Bn, according to a recent Fact.MR analysis. Digital therapeutics demand is anticipated to increase as the healthcare sector becomes more virtualized and technological improvements become more widespread. Demand for digital therapies increased at a CAGR of 17% between 2015 and 2021, reaching US$ 4.25 billion. Practitioners were required under mandated social distancing rules during the COVID-19 epidemic to avoid direct patient contact, especially with individuals seeking care for non-COVID procedures. As a result, telemedicine and virtual therapy sessions were heavily utilized.
The industry is anticipated to have considerable expansion due to the global increase in chronic illnesses. The increased elderly population is one factor contributing to this rise. As people get older, they have serious challenges that can cause a variety of health issues. These will serve as the market’s primary drivers for digital treatments, which will continuously monitor a person’s health and reduce the likelihood of fatalities.
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Key Segments Covered in the Digital Therapeutics Industry Survey
- By Application Type
- Digital Therapeutics for Diabetes
- Digital Therapeutics for Obesity
- Digital Therapeutics for CVD
- Digital Therapeutics for Respiratory Diseases
- Digital Therapeutics for Smoking Cessation
- Digital Therapeutics for CNS Diseases
- By End User
- Digital Therapeutics for Patients
- Digital Therapeutics for Providers
- Digital Therapeutics for Payers
- Digital Therapeutics for Employers
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.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global digital therapeutics market, presenting historical demand data (2015-2021) and forecast statistics for the period of 2022-2032.
The study indulges essential insights on the market on the basis of application (diabetes, obesity, CVD, respiratory diseases, smoking cessation, CNS diseases and others), and end user (patients, providers, payers, employers and others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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