Monday, June 5, 2023

Technology Update: Digital Therapeutic (DTx) Market Size, Top Companies Analysis, and Advancements till 2027

Technology Update: Digital Therapeutic (DTx) Market Size, Top Companies Analysis, and Advancements till 2027
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),
The Growth in this DTx market is primarily driven by the increasing incidence of preventable chronic diseases, the need to control healthcare costs, rising focus on preventive healthcare, and rising investments in digital therapeutics

According to the new market research report "Digital Therapeutics (DTx) Market 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 2026", published by MarketsandMarkets™, the Global DTx Market is projected to reach USD 13.1 billion by 2026 from USD 3.4 billion in 2021, at a CAGR of 31.4% during the forecast period.

The growth of the digital therapeutics market is primarily driven by factors such as government initiatives for preventive healthcare, technological advancements in mobile healthcare, a significant increase in venture capital investments, and the benefits of digital therapeutics, such as the ability to induce behavioral change (an important challenge in healthcare), user-friendliness, patient convenience, and improved drug compliance.

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North America commanded the largest share of the digital therapeutics market

North America held the largest share of the DTx Market, followed by Europe. The market in North America is also expected to grow at the highest CAGR of 32.2%. Factors such as the influx of new start-ups, increasing investments in digital therapeutics, improvements in the reimbursement structure for digital therapeutics, and government initiatives to support technological advancements drive market growth in this region.

Market Dynamics

1. Increasing incidence of preventable chronic diseases

2. Rising focus on preventive healthcare

3. Need to control healthcare costs

4. Significant increase in venture capital investments

5. Benefits of digital therapeutics : Ability to induce behavioral change, Improved drug adherence & Patient convenience and user-friendliness

The Digital Therapeutics market is fragmented with the presence of emerging players;

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).

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Digital Therapeutics Market, by Sales Channel

  • B2C
  • B2B

 Digital Therapeutics Market, by Application

  • Preventive
  • Treatment/Care

 Digital Therapeutics Market, by Region;

  • North America (US, Canada)
  • Europe (UK, Germany, Others)
  • Asia
  • Rest of the World

Major Key Points from Table of Content:

Introduction.

Research Methodology.

Digital Therapeutics Market, By Sales Channel.

Digital Therapeutics Market, By Application.

Competitive Landscape.

Company Profiles.

The Objectives Covered in This Research Report:

  • To define, describe, and forecast the global Digital Therapeutics market based on product, application, end user, and region
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities and industry-specific challenges)
  • To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for the market leaders

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