Share
Digital Therapeutics Market Size, Share, and Analysis, By Type (Devices, Software & Services), By Application (Diabetes, Obesity, CVD, Respiratory Diseases, Smoking Cessation, CNS Diseases, Others), By End User (Patients, Providers, Payers, Employers, Others) and Regional Forecasts, 2022-2032
Digital Therapeutics Market size was USD 3.68 billion in 2021 and is projected to grow from USD 5.8 billion in 2023 to USD 47.2 billion by 2032, exhibiting a CAGR of 26.1% during the forecast period.
Digital Therapeutics (DTx) is software-driven, factual therapeutic intervention that prevent, treat, or manage medical conditions. These patient-facing software programs come with a demonstrated clinical advantage that supports the management, treatment, and prevention of diseases. The term "Digital Health" refers to any platforms and technology that offer digital solutions to enhance the delivery of healthcare. Some common examples of this include telehealth, smart gadgets, mobile health, sensors, wearable technology, etc.
Digital Therapeutics market is expected to reach USD 47.2 billion, growing at a CAGR of 26.1% during the forecast period owing to the increasing cases of preventable chronic diseases, the need to reduce healthcare expenditures, the growth of venture capital, and the advantages in digital therapies. Moreover, digital therapies can increase marginalized populations' access to care and let medical professionals manage chronic illnesses more effectively. These factors are projected to fuel the global Digital Therapeutics Market over the forecast period.
Digital Therapeutics Market is classified based on the Application into Diabetes, Obesity, CVD, Respiratory Diseases, Smoking Cessation, CNS Diseases, and Others. The Diabetes segment dominated the global Digital Therapeutics market share in 2021.CVDs, smoking cessation, and Obesity are anticipated to witness noticeable growth rates over the predicted period. The market is growing owing to the rising use of digital therapeutic products for treating respiratory illnesses.
Digital Therapeutics Market is classified based on the End User into Patients, Providers, Payers, Employers, and Others. The Patients category held a greater share of revenue in 2021, and it is predicted to continue dominance during the projected period. This expansion is linked to patients using digital therapeutic solutions more frequently. Therapeutic healthcare programs and applications are mostly used by patients. The expanding demand for digital treatments is backed by an increasing number of individuals being diagnosed with chronic diseases.
Increasing Need to Control Healthcare Prices is Expected to Boost the Market Growth
One of the main forces propelling the Digital Therapeutics Market is the need to curb healthcare expenditures. Digital treatments are low-cost, non-invasive replacements for conventional therapy. They help patients to access the reasonably priced and individualized care. To lower healthcare costs and improve the effectiveness of care delivery, digital therapies are also being adopted. Along with the growing healthcare cost, digital therapeutics provides a cost-efficient solution to offer better care.
Growing Digitalization & The Emergence of Smart Medical Devices are Expected to Boost the Market Growth
Over the past few years, healthcare has seen several changes due to increased digitalization. Health monitoring and better treatment are now possible thanks to smart medical equipment, smartphones, and cloud-based data platforms. This has led to market participants and other organizations focusing more on creating and releasing cutting-edge technologies with built-in applications for treating numerous chronic ailments with the aid of these technologies.
Rising Number of Issues Associated with Cybersecurity May Restrain the Market Growth
Growing cybersecurity concerns are a major challenge that is preventing the widespread use of medicines. The threats and weaknesses in the security of their medical data worry patients. There are a few cyberattacks and risks that are accountable for the limited adoption of these technologies in the future. These issues are restraining the growth of the Digital Therapeutics Market.
(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Digital Therapeutics Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America dominated the market in 2021 and is anticipated to continue to lead over the estimated years as well. This major revenue share is mostly related to the growth in chronic care spending, large venture capital investments in innovative firms, and the presence of beneficial initiatives. Moreover, supportive government programs that promote better-personalized care for people with long-term health concerns are expected to fuel regional market growth. Owing to the advantageous government regulations and the rising use of technologically advanced products, the Asia Pacific market held the greatest CAGR. The widespread use of inexpensive mobile and internet services is anticipated to increase consumer demand for these goods and drive market growth in the area.
The expansion of the global market for digital therapeutics was positively impacted by COVID-19. The need for effective treatment and diagnosis at home has substantially increased throughout the world due to the COVID-19 pandemic outbreak and lockdown regulations. The top players' initiatives to manage and treat patients during the pandemic also had a significant impact on the increased use of these goods.
|
ATTRIBUTE |
DETAILS |
|
Study Period |
2018-2032 |
|
Base Year |
2022 |
|
Forecast Period |
2022-2032 |
|
Historical Period |
2019-2021 |
|
Growth Rate |
CAGR of 26.1% from 2022-2032 |
|
Unit |
Value (USD Billion) |
|
Segmentation |
Main Segments List |
|
Type |
|
|
Application |
|
|
End User |
|
|
By Region |
|
Digital Therapeutics Market size was estimated at USD 3.68 billion in 2021 and is expected to reach USD 47.2 billion in 2032.
Digital Therapeutics (DTx) is software-driven, factual therapeutic intervention that prevent, treat, or manage medical conditions. These patient-facing software programs come with a demonstrated clinical advantage that supports the management, treatment, and prevention of diseases.
CVD, Smoking Cessation, and Obesity and Patients segments accounted for the largest Digital Therapeutics market share.
Key players: AmerisourceBergen, ResMed, Teladoc Health Inc., Fitbit LLC, Omada Health Inc., Pear Therapeutics Inc., GAIA AG, BigHealth, Welldoc Inc., DarioHealth Corp., Akili Interactive Labs Inc., HYGIEIA, Canary Health, 2Morrow Inc., Limbix Health Inc., and Other Prominent Players are the key players in the Digital Therapeutics Market.
The growing emphasis on worldwide government’s preventative healthcare, rising funding in digital medicines, and the increasing need to curb healthcare prices are the factors driving the Digital Therapeutics Market.
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
