Digital Therapeutics Market overview:
In a recent research report by Reports Insight Consulting Pvt. Ltd, the Digital Therapeutics Market is expected to surpass USD 24.84 Billion by the year 2028, from USD 4.74 Billion in 2021.
As a subset of digital health, Digital Therapeutics Market uses software that is based on clinical research to deliver therapeutic interventions to patients directly. All platforms and technology that offer digital solutions to improve the healthcare delivery are collectively referred to as "digital health." Telehealth, mobile health, smart gadgets, wearable technology, sensors, and other digital health technologies are examples.
The Asia Pacific is predicted to gain a larger market attraction during the forecast period. This growth of the market is attributed to the surge in demand for effective healthcare and a rise in smartphone penetration. Further, advanced internet facilities and high-speed networks are the factors estimated to support the growth of the market. Additionally, increased government expenditure on healthcare, and demand for personal care devices and related services, is also expected to accelerate digital therapeutics market growth.
The market is projected to grow at a significant pace reaching a CAGR of approximately 26.7%, over the forecast period of 2022–2028, despite a considerable fall in Service Operator sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
Smoking cessation, CVDs, and obesity are the segments estimated to supplement the growth of the market during the forecast period. The rising adoption of digital therapeutics in managing diseases is estimated to drive the growth of the segment. Some of the digital therapeutics include Respiro by Amiko, Propeller by Propeller Health, CareTRx by Teva, and others. These therapeutics have the potential to transform the treatment of COPD and asthma which is projected to boost the growth of the market.
The study is consolidated into major segments and further into sub-segments, such as by Application (Diabetes, Obesity, CVD, Respiratory Diseases, Smoking Cessation, CNS Diseases, Others), By End User (Patients, Providers, Payers, Employers, and others) to forecast the digital therapeutics market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including 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.
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