Digital Therapeutics Market to Grow Rapidly at a CAGR of 29.4% by 2030 | DataM Intelligence

Digital Therapeutics Market to Grow Rapidly at a CAGR of 29.4% by 2030 | DataM Intelligence
Digital Therapeutics Market – DataM Intelligence
Global Digital Therapeutics Market was valued at US$ 3.06 billion in 2022 and is expected to reach US$ 28.87 billion by 2030

The Global Digital Therapeutics Market was valued at US$ 3.06 billion in 2022 and is expected to reach US$ 28.87 billion by 2030, exhibiting a CAGR of 29.4% during the forecast period (2023-2030)

The digital therapeutics market is transforming the face of healthcare, offering a new horizon of personalized and evidence-based treatment options for patients. Rising technological advancements and increasing demand for digital therapeutics are driving the market growth.

Key players operating in the global digital therapeutics market include 2Morrow, Inc., Fitbit, Inc. (Twine Health, Inc.), Medtronic Plc., Omada Health, Inc., Pear Therapeutics, Inc., and Proteus Digital Health, Inc. These key players are focused on adopting various growth strategies such as acquisitions collaborations, and product launches.

Key Developments in the Global Digital Therapeutics Market

In May 2023, Livongo Health launched its first prescription digital therapeutic, Livongo for Diabetes, for the management of type 2 diabetes. The app uses a combination of blood glucose monitoring, personalized coaching, and remote patient monitoring to help patients manage their diabetes.

In March 2023, Pear Therapeutics launched its first prescription digital therapeutic, reSET-O, for the treatment of substance use disorder. 

In February 2023, Pear Therapeutics acquired Mindstrong Health, a developer of digital therapeutics for mental health conditions. The acquisition will allow Pear Therapeutics to expand its reach in the mental health market.

 

Report Metrics

Details

CAGR

29.4%

Forecast Period

2023-2030

Data Availability

Value (USD)

Segments Covered

By Product Type, By Sales Channel, and By Region

Regions Covered

North America, Europe, Asia-Pacific, Latin America and Middle East & Africa

Fastest Growing Region

Asia-Pacific

Largest Region

North America

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other Key insights.

 

For More Insights about the Market Request Free Sample: https://www.datamintelligence.com/download-sample/digital-therapeutics-market

 

 

Digital Therapeutics Market: Overview

Digital therapeutics refers to evidence-based therapeutic interventions delivered through software applications and digital platforms. These solutions are designed to prevent, manage, or treat medical conditions independently or in conjunction with traditional medical treatments. 

Through remote monitoring, artificial intelligence, behavioral therapy, and personalized data-driven insights, digital therapeutics hold the potential to revolutionize patient care. 

Digital Therapeutics Market: Opportunities

With technological advancements, innovative solutions, and growing recognition from regulatory bodies, companies have a chance to develop personalized and evidence-based digital therapeutics that can address diverse medical needs. 

Chronic disease management, mental health interventions, and the integration of digital therapeutics with traditional healthcare are just some of the promising opportunities that await. As the global population ages and remote care gains importance, digital therapeutics offer scalable solutions to reach wider demographics and improve healthcare accessibility. 

Embracing these opportunities, companies can lead the charge in transforming healthcare and empowering patients to take charge of their well-being like never before.

Digital Therapeutics Market: Dynamics

Rapid advancements in technology, such as wearable devices, mobile applications, and telemedicine, are driving the growth of the digital therapeutics market, making healthcare more accessible and patient-centered. 

For instance, in March 2020, Pear Therapeutics received clearance from the Food and Drug Administration (FDA) for Somerset, its prescription digital therapeutic for adults with chronic insomnia.

However, unstable payment models and the privacy of patient data are expected to restrain market growth.

Digital Therapeutics Market: Geographical Insights

North America held a dominant position in the digital therapeutics market. The rapid technological advancements in digital therapeutics and a patient-centric healthcare approach by healthcare providers, prioritizing patient wellness are driving the digital therapeutics market growth. Moreover, Asia Pacific is expected to witness significant growth in the digital therapeutics market owing to the increasing research and development activities in the region for digital therapeutics.

 

Table of Contents 

1

Report Methodology and Scope

2

Report Definition and Overview

3

Executive Summary

4

Market Dynamics

5

Industry Factors

6

COVID-19 Analysis

7

Digital Therapeutics Market Segments and Region

8

Global Company Share Analysis – 10 Key Companies

9

Digital Therapeutics Market Company and Product Profiles

10

About DataM

 

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