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Digital Therapeutics Market Size Worth USD 44.13 billion by 2031, to Grow at a CAGR of 31.02% | As per SNS Insider


Digital Therapeutics Market Report Scope and Overview

SNS Insider predicts the Digital Therapeutics Market valuation to reach USD 44.13 billion by 2031 and grow at a CAGR of 31.02% over the forecast period of 2024-2031.

Digital Therapeutics Market
Digital Therapeutics Market

The digital healthcare landscape is undergoing a tremendous shift, with digital therapeutics (DTx) emerging as a favourite in transforming disease prevention, management, and treatment. DTx leverages evidence-based software applications, mobile programs, and even virtual reality to deliver therapeutic interventions directly to patients. This innovative approach empowers patients to take a more active role in their health, fostering improved treatment adherence, self-management capabilities, and ultimately, better health outcomes.

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What are the factors on which companies should be focusing on to enhance their overall revenue pockets?

The digital therapeutics market is booming, fuelled by a perfect storm of rising chronic diseases and the need for cost-effective healthcare solutions. Chronic ailments like diabetes and heart disease affect a significant portion of the population studies suggest around 60% of adults in the US have at least one chronic illness. This creates a massive potential user base for digital therapeutics, which offer remote care, improve medication adherence, and can potentially lower overall healthcare costs. Additionally, the digital aspect allows for faster development cycles compared to traditional drugs, making them more attractive to investors.

This is evident in the increasing venture capital funding, with North America, boasting a well-developed healthcare system and high digital literacy among medical professionals, holding the largest market share at roughly 40%. By focusing on these trends – addressing chronic illnesses, cost-effectiveness, and leveraging technology – companies in the digital therapeutics market can tap into a rapidly growing and lucrative space.

Market Segments:

By Sales Channel

  • B2C
  • Patients
  • Caregivers
  • B2B
  • Providers
  • Payers
  • Employers
  • Pharmaceutical Companies
  • Other Buyers

By Application

  • Preventive Applications
    • Prediabetes
    • Obesity
    • Nutrition
    • Lifestyle Management
    • Other Preventive Applications
  • Treatment/Care-related Applications
    • Diabetes
    • CNS Disorders
      • Mental Health Disorder
      • Other CNS Disorders
    • Chronic Respiratory Disorders
    • Musculoskeletal Disorders
    • Cardiovascular Diseases
    • Smoking Cessation
    • Medication Adherence
    • Gastrointestinal Disorders
    • Substance Use & Addiction Management
    • Rehabilitation & Patient Care
  • Other Treatment/Care-related Applications

The digital therapeutics market can be divided into who buys these digital tools, with two main categories: direct-to-consumer (B2C) and business-to-business (B2C).  Individual patients make up the largest chunk of the market, at around 35%, followed by caregivers who might be managing someone else’s care holding the share around 10%. On the business side (B2B), healthcare providers like hospitals and clinics are a key buyer with a share of 20%, with insurers (payers) coming in at around 15%. Employers looking to improve employee health might account for 5%, while the remaining 15% includes pharmaceutical companies and other organizations interested in using digital therapeutics.

List of Digital Therapeutics (DTx) Companies Profiled in Report:

  • OMADA HEALTH INC
  • Welldoc Inc
  • 2Morrow Inc
  • Livongo HealthInc. (Teladoc Health Inc.)
  • Propeller Health (ResMed)
  • Fitbit LLC
  • CANARY HEALTH
  • Noom Inc
  • Pear Therapeutics Inc
  • Akili Interactive Labs

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SNS Insider analysis of incumbents and new entrants positioning?

The digital therapeutics market is a booming field with immense potential for both established players (incumbents) and newcomers. Incumbents, who hold around 70% of the market share, leverage their brand recognition, existing healthcare partnerships, and vast resources to develop and distribute digital therapeutics solutions. They focus on acquiring smaller, innovative companies and expanding their product portfolios to cater to diverse health needs.

New entrants, comprising roughly 30% of the market, bring fresh perspectives and agility. They often specialize in specific therapeutic areas and utilize advanced technologies like artificial intelligence and big data to create targeted and user-friendly digital interventions. To gain a foothold, they prioritize strategic partnerships with healthcare providers, securing regulatory approvals, and effectively marketing their solutions to patients and clinicians. Both incumbents and new entrants are actively involved in shaping the future of digital therapeutics, making this market a dynamic and exciting space to watch.

Recent Developments:

  • Pear Therapeutics, boasts a strong portfolio of FDA-approved DTx solutions for conditions like ADHD and substance abuse.
  • Akili Interactive is pioneering the use of video games for cognitive assessments and interventions.
  • Omada Health offers a comprehensive digital program for managing prediabetes and type 2 diabetes.

Key Takeaways:

  • The DTx market is poised for explosive growth, driven by rising healthcare costs, chronic disease burden, and increasing digital health adoption.
  • Software applications currently dominate the market, with a focus on metabolic disorders. Mobile health apps are a preferred delivery mode.
  • Key players are actively developing innovative DTx solutions, with a focus on FDA-approved products and gamified interventions.
  • Regulatory frameworks are adapting to accommodate the evolving DTx landscape.

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Table of Content

Chapter 1 Introduction

Chapter 2 Research Methodology

Chapter 3 Digital Therapeutics (DTx) Market Dynamics

Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)

Chapter 5 Value Chain Analysis

Chapter 6 Porter’s 5 forces model

Chapter 7 PEST Analysis

Chapter 8 Digital Therapeutics (DTx) Market Segmentation, By Sales Channel

Chapter 9 Digital Therapeutics (DTx) Market Segmentation, By Application

Chapter 10 Regional Analysis

Chapter 11 Company profile

Chapter 12 Competitive Landscape

Chapter 13 Use Case and Best Practices

Chapter 14 Conclusion

Continued…

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