Global Digital Therapeutics Market

Global Digital Therapeutics Market was worth USD 4,530 million in 2021. It is expected to grow at a 24.2% CAGR from 2022 to 2032

NEW YORK CITY, NEW YORK, UNITED STATES, February 1, 2023 /EINPresswire.com/ -- 𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐟𝐨𝐫 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐭𝐡𝐞𝐫𝐚𝐩𝐞𝐮𝐭𝐢𝐜𝐬 𝐰𝐚𝐬 𝐰𝐨𝐫𝐭𝐡 𝐔𝐒𝐃 𝟒,𝟓𝟑𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏. 𝐈𝐭 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐚𝐭 𝐚 𝟐𝟒.𝟐% 𝐂𝐀𝐆𝐑 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟐.

Digital Therapeutics Market, or DTx, is a form of healthcare technology that uses digital and software-based interventions to prevent, manage, or treat medical conditions. As the healthcare industry continues to evolve and embrace digital solutions, digital therapeutics provides a new way for clinicians and patients to take control of their health.

The global market for Digital Therapeutics (DTx) is expected to grow exponentially in coming years. The rise in chronic diseases such as diabetes and heart disease has increased the demand for non-invasive treatments that do not require surgery or medication. Digital therapeutics allow clinicians to provide comprehensive care plans tailored specifically for each patient by combining data from lifestyle trackers with evidence-based clinical practice guidelines. It also allows patients more autonomy in managing their own health through user-friendly mobile apps and online platforms that can help them monitor symptoms and track progress towards specific goals.

✅ 𝐆𝐞𝐭 𝐚 𝐥𝐚𝐭𝐞𝐬𝐭 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐧𝐞𝐰𝐬 𝐮𝐩𝐝𝐚𝐭𝐞𝐬: 𝐃𝐚𝐢𝐥𝐲 𝐍𝐞𝐰𝐬

✅ 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

𝐃𝐫𝐢𝐯𝐞𝐫𝐬: 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐠𝐞𝐫𝐢𝐚𝐭𝐫𝐢𝐜 𝐩𝐨𝐩𝐮𝐥𝐚𝐭𝐢𝐨𝐧

One of the main factors driving demand for digital therapeutics is the growing global geriatric population. According to the United Nations, the global population of 60-year-olds and older is expected to rise to 2.1 billion in 2050. The demand for digital therapeutics is increasing as people over 60 are more likely to develop diseases such as diabetes, obesity, and cancer. The digital therapeutics market will grow during the forecast period because of the increasing geriatric population.

𝐓𝐨 𝐀𝐜𝐪𝐮𝐢𝐫𝐞 𝐚 𝐡𝐨𝐥𝐢𝐬𝐭𝐢𝐜 𝐒𝐀𝐌𝐏𝐋𝐄 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐡𝐭𝐭𝐩𝐬://𝐦𝐚𝐫𝐤𝐞𝐭.𝐮𝐬/𝐫𝐞𝐩𝐨𝐫𝐭/𝐝𝐢𝐠𝐢𝐭𝐚𝐥-𝐭𝐡𝐞𝐫𝐚𝐩𝐞𝐮𝐭𝐢𝐜𝐬-𝐦𝐚𝐫𝐤𝐞𝐭/𝐫𝐞𝐪𝐮𝐞𝐬𝐭-𝐬𝐚𝐦𝐩𝐥𝐞

✅ 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Livongo Health, Inc.
Propeller Health
Fitbit Inc.
Canary Health
Omada Health, Inc.
WellDoc, Inc.
2Morrow, Inc.
Mango Health
Noom, Inc.
Pear Therapeutics
Other Key Players

𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬 𝐨𝐧 𝐝𝐚𝐭𝐚 𝐩𝐫𝐢𝐯𝐚𝐜𝐲

There is no authorization required for many health apps. This raises concerns about product quality, data security, privacy and responsible data use. Digital therapeutics providers have access to the patient's data, but they cannot share it with anyone not involved in their treatment. However, digital technology to integrate data puts the patient's information at risk. Any healthcare professional not involved in the patient’s treatment program could have access to it. The data privacy concerns are limiting the market growth for digital therapeutics in the forecast period.

𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐢𝐧𝐪𝐮𝐢𝐫𝐢𝐞𝐬 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐩𝐫𝐨𝐟𝐞𝐬𝐬𝐢𝐨𝐧𝐚𝐥 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐭𝐞𝐚𝐦:  𝐡𝐭𝐭𝐩𝐬://𝐦𝐚𝐫𝐤𝐞𝐭.𝐮𝐬/𝐫𝐞𝐩𝐨𝐫𝐭/𝐝𝐢𝐠𝐢𝐭𝐚𝐥-𝐭𝐡𝐞𝐫𝐚𝐩𝐞𝐮𝐭𝐢𝐜𝐬-𝐦𝐚𝐫𝐤𝐞𝐭/#𝐢𝐧𝐪𝐮𝐢𝐫𝐲

𝐓𝐡𝐞𝐫𝐞 𝐚𝐫𝐞 𝐦𝐚𝐧𝐲 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐭𝐨 𝐫𝐞𝐝𝐮𝐜𝐞 𝐭𝐡𝐞 𝐩𝐫𝐞𝐯𝐚𝐥𝐞𝐧𝐜𝐞 𝐨𝐟 𝐜𝐡𝐫𝐨𝐧𝐢𝐜 𝐝𝐢𝐬𝐞𝐚𝐬𝐞𝐬

Healthcare systems around the globe are concerned about the high incidence of chronic diseases. Because of psychological factors, chronic disorder patients can be difficult to treat. Patients must change their lifestyle as part of a new self-care approach because chronic diseases often have unpredictable outcomes. Many chronic illnesses and conditions progress over time and are more common as people age. As the global senior population grows, the likelihood of chronic problems increasing will be even greater in the future. The rising incidence of chronic diseases has created lucrative opportunities for digital therapeutics to grow during the forecast period.

✅ 𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬:

✅ 𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Diabetes
Obesity
CVD
Respiratory Diseases
Smoking Cessation
CNS Diseases
Other Applications

✅ 𝐁𝐲 𝐄𝐧𝐝-𝐔𝐬𝐞𝐫

Patients
Providers
Payers
Employers
Other End-Users

𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐓𝐡𝐞𝐫𝐚𝐩𝐞𝐮𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬

The market is growing due to the rising sales of smart devices such as tablets and mobile phones, the rise in internet penetration and increasing numbers of healthcare apps. DTx is used in a variety of neurological indications such as ASD, ADHD, depression, schizophrenia, bipolar disorder, and attention deficit hyperactivity disorder (ADHD). The market is also supported by the growing prevalence of chronic diseases such as diabetes and obesity, and the need to control healthcare costs. To expand their product range and reach, global pharmaceutical companies are engaging in strategic partnerships. They also focus on providing information to patients about different conditions and possible treatments, as well as organizing, tracking and managing their own diseases. The pharmaceutical companies' initiatives are expected to drive the growth of this market.

𝐏𝐫𝐨𝐛𝐥𝐞𝐦𝐬: 𝐋𝐨𝐰 𝐜𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐚𝐰𝐚𝐫𝐞𝐧𝐞𝐬𝐬

Providers of digital therapeutics face a challenge in motivating patients to use it and gaining their trust. Chronic disorders are more common in the elderly. Digital therapeutics are not yet able to observe behavioral changes.

✅ 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 (𝐁𝐨𝐨𝐤 𝐍𝐨𝐰 𝐰𝐢𝐭𝐡 𝐒𝐚𝐯𝐞 𝟐𝟓% [𝐒𝐢𝐧𝐠𝐥𝐞 𝐔𝐬𝐞𝐫], 𝟑𝟖% [𝐌𝐮𝐥𝐭𝐢-𝐔𝐬𝐞𝐫], 𝟒𝟓% [𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐔𝐬𝐞𝐫𝐬] + 𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐬𝐜𝐞𝐧𝐚𝐫𝐢𝐨+ 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐑𝐮𝐬𝐬𝐢𝐚-𝐔𝐤𝐫𝐚𝐢𝐧𝐞 𝐰𝐚𝐫):

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