As per DelveInsight’s assessment, the Digital Therapeutics Market is expected to grow at an immense pace in the coming years owing to the The increasing prevalence of pandemic such as COVID-19, Pre- and post-operation and some few of the other applications where Digital Therapeutics have been used, which is expected to drive the demand for Digital Therapeutics in the upcoming years.
DelveInsight’s “Digital Therapeutics Market” report provides the current and forecast market outlook, forthcoming device innovation, challenges, market drivers and barriers. The report also covers the major emerging products and key Digital Therapeutics companies actively working in the market.
Digital Therapeutics Overview
Digital Therapeutics (DTx) refers to a category of evidence-based therapeutic interventions driven by software programs to prevent, manage, or treat various medical conditions.
Digital Therapeutics Market Insights
In 2022, North America is projected to hold the biggest portion of the Digital Therapeutics market. This prevalence is attributed to growing demand for digital therapeutics among both physicians and patients in the region, an expanding population affected by chronic illnesses, rising interest in remote patient monitoring and telemedicine, as well as the presence of major market players. These factors, among others, are expected to drive the growth of the digital therapeutics market in North America.
DelveInsight Digital Therapeutics Market Size Analysis: The Global Digital Therapeutics market size is anticipated to grow with a CAGR of 27.73% during the forecasted period (2023-2028)
To know more about why North America is leading the market growth in the Digital Therapeutics market, get a snapshot of the report Digital Therapeutics Market Trends
https://www.delveinsight.com/report-store/digital-therapeutics-market
Recent Developments in the Digital Therapeutics Market Report
- In January 2023, Lupin Digital Health, a company fully owned by the global pharmaceutical leader Lupin Limited, introduced LYFE, its digital therapeutic solution. LYFE stands as India’s exclusive evidence-driven comprehensive cardiac care program, effectively diminishing the likelihood of a heart attack and enhancing the wellbeing and vital signs of individuals with heart conditions.
- In May 2022, Sidekick Health, an innovator in digital therapeutics on a global scale, introduced an integrated solution focused on improving outcomes for individuals with Atopic Dermatitis (AD) in collaboration with Pfizer Inc. This joint effort between Sidekick and Pfizer aims to introduce their integrated digital therapeutics program, initially debuting in the UK, then expanding to Belgium, Norway, the Netherlands, Sweden, France, Ireland, and Japan throughout 2022.
- In April 2021, Mahana Therapeutics, Inc. obtained marketing clearance from the US FDA 510(K) for its Mahana Parallel Digital Cognitive Behavioral Therapy (CBT) mobile application. This clearance acknowledges its substantial similarity to an existing device in the market intended for managing Irritable Bowel Syndrome (IBS).
- In June 2020, The FDA approved the initial video game designed for kids with attention deficit hyperactivity disorder (ADHD), permitting Akili Interactive’s EndeavorRx to be prescribed as a form of digital therapeutic treatment.
- Thus, owing to such developments in the market, rapid growth will be observed in the Digital Therapeutics market during the forecast period
To read more about the latest highlights related to Digital Therapeutics, get a snapshot of the key highlights entailed in the Digital Therapeutics Market Forecast
Key Players in the Digital Therapeutics Market
Some of the key Digital Therapeutics companies operating in the market include- Limbix Health, Inc., GAIA AG, BigHealth, DarioHealth Corp, HYGIEIA, Akili, Inc, Pear Therapeutics (US), Inc., CANARY HEALTH, Noom, Inc., Omada Health Inc., Welldoc, Inc., 2Morrow, Inc., ResMed, Teladoc Health, Inc., Fitbit Health Solutions, and others.
Digital Therapeutics Market Dynamics:
According to the International Diabetes Federation’s 2022 report, around 537 million individuals globally had diabetes in 2021. Projections from the same source anticipate this number to rise to roughly 643 million by 2030 and to approximately 783 million by 2045.
Digital therapeutic applications (DTx) like Blue Star, Diabeo System, Livongo Diabetes Program, and Tidepool leverage web-based platforms to offer evidence-based, personalized, and immediate point-of-care management for chronic, behavior-related conditions, such as diabetes mellitus. These DTx solutions have the potential to enhance patient adherence, treatment effectiveness, and economic outcomes in diabetes care by fostering active patient participation, encouraging lifestyle adjustments, delivering comprehensive medical support, and regularly monitoring glycemic status.
Consequently, the escalating prevalence of diabetes is expected to drive the demand for digital therapeutic software designed for diabetes management and treatment, thereby fueling the overall digital therapeutics market.
Nevertheless, factors such as cybersecurity and privacy apprehensions, unstable payment structures, and other related issues could impede the expansion of the digital therapeutics market.
Scope of the Digital Therapeutics Market Report
- Coverage: Global
- Study Period: 2020–2028
- Digital Therapeutics Market Segmentation By Application Type: Prevention, Management, and Treatment
- Digital Therapeutics Market Segmentation By Indication Type: Diabetes, Obesity, Cardiovascular Diseases, Respiratory Diseases, and Others
- Digital Therapeutics Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of the World
- Key Digital Therapeutics Companies: Starkey Laboratories, Inc., Neuromod, Neuromonics, Demant A/S, Puretone Ltd., GN Store Nord A/S, WS Audiology A/S, Sonova, MDHearing, Elkon Pvt. Ltd., Audina Hearing Instruments, Inc., Arphi Electronics Private Limited, Foshan Vohom Technology Co., Ltd., KIND GmbH & Co. KG, RION Co., Ltd., Istok Audio Trading LLC, Eargo Inc., AlgorKorea Co., Ltd., Lisound Hearing Aid (Fuzhou) Co., Ltd., Guangzhou Melison Medical Instrument Co., Ltd., among others
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the Digital Therapeutics market are set to emerge as the trendsetter explore @ Digital Therapeutics Market Trends
Table of Contents
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1 |
Digital Therapeutics Market Report Introduction |
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2 |
Digital Therapeutics Market Executive summary |
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3 |
Regulatory and Patent Analysis |
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4 |
Digital Therapeutics Market Key Factors Analysis |
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5 |
Porter’s Five Forces Analysis |
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6 |
COVID-19 Impact Analysis on Digital Therapeutics Market |
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7 |
Digital Therapeutics Market Layout |
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8 |
Global Company Share Analysis – Key 3-5 Companies |
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9 |
Company and Product Profiles |
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10 |
Project Approach |
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11. |
About DelveInsight |
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About DelveInsight
DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.
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