The global digital therapeutics market is projected to reach USD 17.7 billion by 2027 from USD 4.5 billion in 2022, at a CAGR of 31.6% during the forecast period. Increasing prevalence of chronic diseases, developments in digital therapeutics to curb growing healthcare costs and government initiatives to support the digital therapeutics are driving the market growth.
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The digital therapeutics market encompasses the utilization of digital technology, such as software applications and mobile platforms, to deliver medical treatments and interventions for a diverse range of health conditions. These interventions, known as digital therapeutics, are evidence-based and aim to prevent, manage, or treat various medical conditions.
Here are some key points about the digital therapeutics market:
Diverse Applications: Digital therapeutics can be applied to a wide range of health conditions, including diabetes, cardiovascular disease, mental health disorders, substance use disorders, chronic obstructive pulmonary disease (COPD), and more.
Evidence-Based: Digital therapeutics are typically developed based on rigorous scientific and clinical research.
Remote Monitoring and Engagement: Many digital therapeutics solutions include remote monitoring capabilities, which allow healthcare providers to track patients’ progress and make real-time adjustments to their treatment plans.
Regulation: Various regulatory bodies, such as the U.S. Food and Drug Administration (FDA), have established guidelines and regulations for digital therapeutics.
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Key Market Players
Noom, Inc (US), Teladoc Health, Inc. (US), Omada Health, Inc. (US), WellDoc, Inc (US), Pear Therapeutics, Inc. (US), CogniFit Inc (US), Ginger (US), Propeller Health (US), 2Morrow, Inc. (US), Canary Health (US), Click Therapeutics, Inc. (US), Akili, Inc. (US), Cognoa, Inc (US), Wellthy Therapeutics Pvt. Ltd. (India), Twill Inc. (US), Better Therapeutics, Inc (US), Mindstrong (US), Kaia Health (Germany), BehaVR Inc (US), Ayogo (Canada), Mindable Health GmbH (Germany), Virta Health Corp (US), Hinge Health, Inc. (US), Orexo AB (Sweden) and Freespira (US).
Noom, Inc. (US) is among the world leaders digital therapeutics market in providing high-quality solutions for weight management, diabetes prevention, and stress reduction. Noom has been awarded multiple grants from the National Institutes of Health and provided the first mobile application recognized by the US CDC as a certified diabetes prevention program.
Teladoc Health, Inc. (US) is one of the prominent players digital therapeutics market. The company uses proprietary health signals and personalized interactions to improve health outcomes. It mainly targets diabetes, hypertension, weight management, diabetes prevention, and mental health.
Omada Health, Inc (US) is one of the leading player digital therapeutics market. The company provides integrated, virtual care across chronic conditions, a top clinical need for employers and health plans.
North America is expected to hold the largest share of the digital therapeutics Market
North America is expected to hold the largest share of this market, followed by Europe. The market in North America is also expected to grow at the highest CAGR. The large share can be attributed to the rising number of new start-ups in digital therapeutics market and slowly developing reimbursement structures for digital therapeutics solutions.
Digital Therapeutics Market Dynamics
Driver: Need to control healthcare costs
Opportunity: Unexplored therapeutic applications
Restraint: Patient data security concerns
Challenge: Unstable payment Models
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