Shaping the Future of Medicine: Anticipated $17.7 Billion Digital Therapeutics Market by 2027

Shaping the Future of Medicine: Anticipated $17.7 Billion Digital Therapeutics Market by 2027
Browse 190 market data Tables and 33 Figures spread through 231 Pages and in-depth TOC on “Digital Therapeutics Market – Global Forecasts to 2027
Digital Therapeutics (DTx) market in terms of revenue was estimated to be worth $4.5 billion in 2022 and is poised to reach $17.7 billion by 2027, growing at a CAGR of 31.6% from 2022 to 2027 according to a latest report published by MarketsandMarkets™

The digital therapeutics market refers to the sector within the healthcare industry that focuses on using digital technologies, such as software applications and devices, to deliver medical interventions for the prevention, management, and treatment of various medical conditions. Digital therapeutics (DTx) are evidence-based interventions that typically use software to deliver medical treatments directly to patients, often in the form of mobile apps or online platforms.

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The global digital therapeutics market is projected to reach USD 17.7 billion by 2027 from USD 4.5 billion in 2022, at a CAGR of 31.6% during the forecast period. Increasing prevalence of chronic diseases, developments in digital therapeutics to curb growing healthcare costs and government initiatives to support the digital therapeutics are driving the market growth.

Key characteristics of the digital therapeutics market include:

Software-based Interventions: Digital therapeutics involve the use of software programs or apps to deliver therapeutic interventions.

Evidence-based Approach: Digital therapeutics are designed based on scientific evidence and clinical trials, similar to traditional pharmaceutical treatments.

Remote Accessibility: One of the major advantages of digital therapeutics is that they enable patients to access treatments remotely.

Personalization: Many digital therapeutics platforms are designed to provide personalized treatment plans.

Complementary Treatment: Digital therapeutics can be used as standalone treatments or in conjunction with traditional medical therapies.

Regulation: The regulatory landscape for digital therapeutics varies by country. Some digital therapeutics may require approval from regulatory bodies, such as the U.S. Food and Drug Administration (FDA) in the United States.

Diverse Applications: The applications of digital therapeutics are broad and encompass various medical conditions, including but not limited to diabetes management, cardiovascular disease prevention, mental health disorders, substance abuse, insomnia, and chronic pain management.

Data Collection and Analysis: Digital therapeutics platforms can gather real-time data on patient engagement, adherence, and outcomes.

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Key Market Players

Prominent players in the digital therapeutics market include Noom, Inc (US), Teladoc Health, Inc. (US), Omada Health, Inc. (US), WellDoc, Inc (US), Pear Therapeutics, Inc. (US), CogniFit Inc (US), Ginger (US), Propeller Health (US), 2Morrow, Inc. (US), Canary Health (US), Click Therapeutics, Inc. (US), Akili, Inc. (US), Cognoa, Inc (US), Wellthy Therapeutics Pvt. Ltd. (India), Twill Inc. (US), Better Therapeutics, Inc (US), Mindstrong (US), Kaia Health (Germany), BehaVR Inc (US), Ayogo (Canada), Mindable Health GmbH (Germany), Virta Health Corp (US), Hinge Health, Inc. (US), Orexo AB (Sweden) and Freespira (US).

Noom, Inc. (US) is among the world leaders digital therapeutics market in providing high-quality solutions for weight management, diabetes prevention, and stress reduction. Noom has been awarded multiple grants from the National Institutes of Health and provided the first mobile application recognized by the US CDC as a certified diabetes prevention program.

Teladoc Health, Inc. (US) is one of the prominent players digital therapeutics market. The company uses proprietary health signals and personalized interactions to improve health outcomes.

Omada Health, Inc (US) is one of the leading player digital therapeutics market. The company provides integrated, virtual care across chronic conditions, a top clinical need for employers and health plans. the company secured USD 73 million from its investors to develop digital care health programs focusing on preventable chronic conditions.

Recent Developments:

In August 2022, 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.

In March 2022, 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.

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