Digital Therapeutics Market is Expected to Generate a Revenue of USD 17.7 Billion by 2027, Globally, at 31.6 % CAGR: A Lucrative Market Opportunity
The report “Digital Therapeutics Market Size, Growth by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel B2C (Patient, Caregiver), B2B ( Providers, Payer, Employer, Pharma) – Global Forecasts to 2027″, is projected to reach USD 17.7 billion by 2027, at a CAGR of 31.6%.
The digital therapeutics market is booming, with a projected growth rate of over 31.6% in the next five years alone. Digital therapeutics are revolutionizing the healthcare industry, offering innovative solutions to improve overall outcomes and patient satisfaction.
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What Are the Benefits of Digital Therapeutics?
1. Increased Accessibility: Digital therapeutics offer a convenient and accessible way to treat a variety of health issues. Patients can access the treatments from anywhere, including their homes.
2. Improved Outcomes: Studies have shown that digital therapeutics can lead to improved clinical outcomes. For example, one study found that digital cognitive behavioral therapy was more effective than traditional cognitive behavioral therapy for depression.
3. Lower Costs: Digital therapeutics can reduce healthcare costs by providing an alternative to more expensive treatments such as surgery or pharmaceuticals.
4. Personalized Treatment: Digital therapeutics can provide personalized treatments based on the individual patient’s needs and preferences.
5. Improved patient engagement: Digital therapeutics can improve patient engagement by providing tools to track progress and offering rewards for progress made.
Digital therapeutics are defined as the use of digital technologies in the treatment and management of diseases. They can incorporate a variety of approaches, including mobile health, telehealth, and remote patient monitoring. By providing tailored treatments, digital therapeutics can help improve patient adherence and ultimately improve outcomes.
Digital therapeutics are already being used to treat a wide range of conditions, including mental health, chronic diseases, and neurological disorders. For example, digital therapeutics are being used to help manage diabetes and hypertension, as well as improve outcomes for depression and anxiety.
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As the digital therapeutics market continues to evolve, one of the most exciting opportunities is the development of personalized treatments. Digital therapeutics can be tailored to the individual patient, allowing healthcare providers to provide the best possible care. This means that patients can receive personalized treatments that are tailored to their specific needs and preferences.
The digital therapeutics market is also being driven by the increasing demand for better patient outcomes. With digital therapeutics, healthcare providers can now provide more comprehensive and accurate treatments. This is due to the fact that digital therapeutics can be used to analyze data and monitor patient progress, allowing healthcare providers to better track and identify potential risks.
The digital therapeutics market is still in its infancy, but its potential to revolutionize the healthcare industry is undeniable. With its ability to provide personalized treatments and improved outcomes, digital therapeutics are poised to become a critical component of healthcare in the future.
Key Market Players
Prominent players in the Digital Therapeutics Market include Noom (US), Livongo Health (US), Omada Health (US), WellDoc (US), Pear Therapeutics (US), Proteus Digital Health (US), Propeller Health (US), Akili Interactive Labs (US), Better Therapeutics (US), Happify (US), Kaia Health (Germany), Mango Health (US), Click Therapeutics (US), Canary Health (US), Wellthy Therapeutics (India), Cognoa (US), CogniFit (US), Ayogo Health (Canada), Mindstrong Health (US), 2Morrow (US), and Ginger (US).
This study categorizes the global digital therapeutics market in the following segments & sub-segments
By Sales Channel
- B2C
- Patients
- Caregivers
- B2B
- Providers
- Payers
- Employers
- Pharmaceutical Companies
- Other Buyers
By Application
- Preventive Applications
- Treatment/Care-related Applications
By Region
- North America
- Europe
- APAC
Recent Developments:
- Pear Therapeutics (US) entered into an agreement with SelectHealth (US) to provide members with covered access to Pear’s innovative prescription digital therapeutic (PDT), reSET-O, for treating opioid use disorder (OUD) as an adjunct to outpatient treatment.
- Omada Health (US) integrated behavioral health support into its programs (Diabetes Prevention, Diabetes Management, Hypertension, and Musculoskeletal). The new behavioral health integration comprises anxiety and depression assessment, resources to manage social health determinants, like food access, stress management, and sleep tools.
- Welldoc (US) partnered with Dexacom (US). This partnership helped provide BlueStar with Dexcom G6 CGM as a single platform to people with Type 2 diabetes for improved health.
- Pear Therapeutics (US) partnered with Sprectrum Health Systems (US). Tufts Health Plan and Spectrum Health Systems announced a collaboration with Pear Therapeutics to test FDA-approved digital therapeutics to help people with substance use disorders and improve their recovery journeys by delivering solutions for improved treatment access and care innovation journeys by delivering solutions for improved treatment access and care innovation
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