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The Digital Therapeutics Market, valued at approximately USD 6.51 billion in 2022, is expected to exhibit a robust CAGR of 31.51% from 2023 to 2032, projecting a market size of USD 104.1 billion by 2032. The rise in demand for digital therapeutic software and devices, aimed at assisting healthcare professionals in various healthcare functions, is a key driver fueling the overall market growth.
Digital therapeutics (DTx) delivers evidence-based medical interventions directly to patients through clinically evaluated software and devices, addressing a wide range of diseases and disorders. These interventions aid patients in self-managing symptoms, thereby enhancing their quality of life and clinical outcomes. The adoption of digital therapeutics has bridged healthcare gaps by delivering therapeutics through smartphones, mobile devices, and similar modalities.
Increasing Prevalence of Chronic Diseases: The global rise in chronic conditions, such as obesity, diabetes, and cardiovascular ailments, is a major driver for the digital therapeutics market. The industry's substantial growth potential is evident in the multidimensional management of chronic diseases, making digital therapeutics a crucial factor in treatment.
Rising Need for Cost Containment: The escalating costs associated with chronic care have led to a growing need for cost-effective solutions. Digital therapeutics offer a cost-effective approach to managing chronic conditions, contributing to their adoption and market growth.
Potential to Increase Quality of Care Delivery: Digital therapeutics play a pivotal role in improving the quality of care delivery, offering personalized solutions for medication adherence and long-term behavioral change. This potential contributes significantly to the market's expansion.
Growing Popularity of Digital Therapeutics: The increasing awareness and acceptance of digital therapeutics as effective interventions for various health conditions are driving their popularity, leading to market growth.
Challenges and Concerns:
Security and Privacy Issues: The portable nature of digital therapeutic applications exposes them to security threats. Adherence to comprehensive cybersecurity measures is essential to prevent, detect, and address cyber threats, which can add to the operational costs.
Lack of Skilled IT Professionals: The deployment of preventive measures against cyber threats requires skilled IT professionals. The shortage of such professionals can pose challenges in implementing robust cybersecurity protection.
Surging Prevalence of Chronic Conditions: The increasing incidence of chronic ailments globally, including diabetes, obesity, and cardiovascular diseases, is driving the demand for digital therapeutics. The management of these conditions often involves the use of digital therapeutic software and devices, contributing to market expansion.
Software Segment Growth: The software segment of the digital therapeutics market is projected to witness significant growth, with a 31.71% CAGR through 2032. Digital software solutions play a vital role in medication adherence and personalized care, particularly for chronic diseases like diabetes and chronic obstructive pulmonary disease.
Dominance of Diabetes Segment: The diabetes segment held a dominant market share in 2022 and is expected to grow at a CAGR of over 31.1% between 2023 and 2032. The increasing prevalence of diabetes globally is a key factor contributing to the adoption of digital therapeutics for precise management.
B2B Segment Revenue: The business-to-business (B2B) segment accounted for more than USD 4.51 billion in 2022. This segment's majority share is attributed to the benefits it offers in distributing digital therapeutic products, with health payors incorporating these solutions into health plans.
North America Market Expansion: The North America digital therapeutics market is anticipated to grow at a CAGR of 30.71% between 2023 and 2032. Factors such as increased chronic care expenditure, significant venture funding for startups, and favorable government initiatives contribute to the region's high revenue share.
Prominent players in the digital therapeutics industry include Otsuka Holdings Co., Ltd, LifeScan Inc., Teladoc Health, Omada Health Inc., Pear Therapeutics, Inc., Propeller Health (ResMed), DarioHealth, Voluntis, My Sugr (Roche), Virta Health Corp., among others. These players focus on strategic collaborations, mergers, and partnerships to expand their market presence and launch new products, strengthening their portfolios.
In February 2022, Biofourmis launched Biofourmis Care, a technology-enabled care management service delivering high-quality remote care for chronic conditions. This strategic launch aimed to improve health outcomes, reduce the total cost of care, and contribute significantly to industry revenue.
The COVID-19 pandemic had a positive impact on the digital therapeutics industry, with increased adoption during the pandemic period. Digital software and devices became essential for individuals unable to leave their homes, offering opportunities for data collection and monitoring of chronically ill patients. Several digital therapeutics solutions were introduced for general wellness, disease screening, diagnosis, therapy delivery, and prognosis estimation.
The digital therapeutics market report covers an in-depth analysis, providing revenue estimates and forecasts in USD from 2018 to 2032 for the following segments:
· Software
· Device
· Diabetes
· Obesity
· Cardiovascular
· Mental & Behavioral Health
· Hypertension
· Insomnia
· Others
· B2B
· B2C
· North America:
· U.S.
· Canada
· Europe:
· Germany
· UK
· France
· Italy
· Spain
· Asia Pacific:
· Japan
· China
· India
· Australia
· Singapore
· Latin America:
· Brazil
· Mexico
· Middle East and Africa:
· Saudi Arabia
· South Africa
· Israel
This comprehensive report provides a detailed perspective on the digital therapeutics market, offering valuable insights into key trends, drivers, challenges, and regional dynamics.
The Digital Therapeutics Market, valued at approximately USD 6.51 billion in 2022, projecting a market size of USD 104.1 billion by 2032.
The global market is projected to grow at a CAGR of 31.51% during the forecast period, 2023-2032.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65512
Published on :
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