Digital Therapeutics (dtx) Market Growth Analysis

By Author: Delvens
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Digital Therapeutics (DTx) Market report involves use of latest tools and techniques for researching, analysing and gathering of data and information. The market analysis here includes competitive study, product information analysis, applications, and region-wise analysis, competitor landscape, consumption and revenue study, cost structure analysis, price evaluation and revenue analysis up to 2030. This report performs systematic gathering, recording and analysis of data about the issues related to the marketing of goods and services and serves the businesses with an excellent market research report. The global Digital Therapeutics (DTx) Market report provides smart solutions to the complex business challenges and commences an effortless decision-making process.

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Digital Therapeutics (DTx) Market, by Product (Software and Devices), Sales Channel (Business-to-Business and Business-to-Consumers), Application (Diabetes, Obesity, Cardiovascular Disease (CVD), Central Nervous System (CNS), Disease Respiratory Disease, ...
... Smoking Cessation, Gastrointestinal Disorder (GID) and Others) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America). The global Digital Therapeutics (DTx) market size was estimated at USD 5.47 billion in 2023 and is projected to reach USD 28.68 billion in 2030 at a CAGR of 26.70% during the forecast period 2023-2030.

Digital Therapeutics (DTx) Market Competitive Landscape:

Omada Health, Inc.
Welldoc, Inc
Kaia Health
2MORROW, Inc.
Proteus Digital Health, Inc.
Akili Interactive Labs, Inc.
Pear Therapeutics, Inc.
Resmed, Inc. (Propeller Health)
Fitbit, Inc. (Twine Health, Inc.)
Click Therapeutics, Inc.
Livongo Health, Inc.
Voluntis, Inc.
Medtronic Plc.
Happify, Inc.
Canary health
Noom, Inc.
HYGIEIA
DarioHealth Corp.
BigHealth
GAIA AG
Limbix Health, Inc.

Digital Therapeutics (DTx) Market Recent Developments:

In February 2022, DynamiCare Health Inc., a digital therapeutics and telehealth company received Breakthrough Device Designation for DCH-001 from the United States Food and Drug Administration (FDA).
In May 2021, Eli Lilly and Company signed strategic international agreements with four companies to advance connected solutions and streamline diabetes care management for individuals living with the disease outside of the United States.

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Digital therapy provides patients with evidence-based therapeutic interventions. It is provided with software and devices designed to manage or treat medical conditions. Digital therapy software can be used alone or in conjunction with another device, medication or treatment to achieve patient treatment and health outcomes. The design, clinical validation, usability and data security of digital therapies are based on state-of-the-art technology according to best practices. These products have been tested and approved by regulatory authorities before use. In addition, digital therapies provide patients, healthcare providers and payers with smart, easy-to-use tools to treat a variety of diseases through interventions such as high-quality, safe and effective evidence-based cards.

The increase in the use of smartphones and tablets and health applications, the need to control healthcare costs, significant benefits to the entire process of treatment and the increase in the incidence of chronic diseases are driving the growth of the global digital therapy market. The major factors driving the market growth are the increase in the incidence of preventable chronic diseases and the increase in public health funding. Emerging markets also offer companies significant growth opportunities in the coming years. Moreover, strong potential products coming to the market during the forecast period are also beneficial for market participants. Factors such as cost-effectiveness of digital health technologies for providers and patients and increasing need for integrated health systems and patient-centric care are expected to drive market growth during the forecast period.

However, lack of understanding of digital therapies in developing countries and patient privacy concerns are hindering market growth. Developers or manufacturers of digital therapies do not guarantee the security of patient data. Consumers fear that these programs will not be able to protect the confidentiality of their health information. Fear of patient privacy complicates the implementation of digital therapies. In addition, the fear of data compromise or technology being subjected to unwanted personal surveillance is hindering the growth of the digital therapy products market.

Digital Therapeutics (DTx) Market Key Findings:

The Product segment is further fragmented into Software and Devices. The software segment is the largest and fastest growing segment that dominated the market and is expected to continue this trend during the forecast period due to continuous improvement of firmware and device software’s.

The Sales Channel segment is further bifurcated into Business-to-Business and Business-to-Consumers. The business-to-consumers segment is the largest and the fastest growing segment which exhibited the highest growth and is expected to continue this trend during the forecast period. This is happening due to the direct contact between the consumers removing the middlemen and having clear understanding of the needs of the consumers.

The Application segment is further bifurcated into Diabetes, Obesity, Cardiovascular Disease (CVD), Central Nervous System (CNS), Disease Respiratory Disease, Smoking Cessation, Gastrointestinal Disorder (GID) and Others. The diabetes segment dominated the market with the largest market share. Factors that drive the segment growth include the growing prevalence of diabetes and other chronic diseases. The increasing prevalence of diabetes is boosting the need to develop individualized solutions for treating diabetics.

The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period owing to Favorable reimbursement scenarios focused on improved tracking and diagnosis, and improved quality of life through increased use of digital health products.

Digital Therapeutics (DTx) Market Regional Analysis:

North America to Dominate the Market

North America is estimated to account for the largest market share during the forecast period owing to favorable reimbursement scenarios focused on improved tracking and diagnosis, and improved quality of life through increased use of digital health products.

Moreover, strategic initiatives undertaken by key players in this region, such as new product launches and mergers & acquisitions, are expected to result in lucrative growth.

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