The Digital Therapeutics for software-based medical treatments aimed to treat, manage, and prevent different illnesses and health issues is referred to as the digital therapeutics market. These solutions make use of digital technology such as mobile applications, wearable devices, and telemedicine to give patients with personalised therapy and support. Because of the expanding trend of digital health and the increasing usage of technology in the healthcare sector, the demand for digital medicines has expanded dramatically in recent years. Factors such as the rising prevalence of chronic illnesses, the ageing population, and the growing need for cost-effective and convenient healthcare solutions are driving the market.
The digital therapeutics market is divided into three sections: application, end-user, and region. The market may be divided into applications such as cardiovascular illnesses, central nervous system disorders, musculoskeletal disorders, mental health, and others. The market may be divided into three segments based on end-user: patients, healthcare providers, and payers. The market may be divided into four regions: North America, Europe, Asia-Pacific, and the rest of the world. Because of the area’s rising use of digital health and investment in the healthcare industry, the Asia-Pacific region is likely to witness considerable development in the digital therapeutics market. Omada Health, Proteus Digital Health, Livongo Health, and 2Morrow are among the market’s key participants. They are investing in R&D to provide novel and effective digital therapeutics solutions to meet customers’ shifting requirements and preferences.
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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
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
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.
- For instance, The Teladoc Company strengthened their alliance with the National Labor Alliance in December 2021. Specialty care, general medicine, professional medical services, mental health, virtual primary care programs, and chronic illness management were some of the goods and services provided.
- Dexcom and Welldoc created an extensive, integrated platform in 2021 that improves the quality of life for people with type 2 diabetes. BlueStar assists persons with diabetes in managing the challenging process by employing the Dexcom G6 technology to test glucose levels under the skin.
A digital therapeutic platform developed by Voluntis using its Theraxium platform to allow intelligent medication dosage for diabetes titration has a patent awarded by the European Patent Office (EPO) in 2021.