The global digital therapeutics market size is projected to reach USD 13.05 billion by 2027. The Global Digital Therapeutics Market Report, provided by Report Ocean, offers an in-depth analysis of market characteristics, growth drivers, segmentation, competitive landscape, and regional breakdowns. It traces the market’s historic and forecast market growth by geography.
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Market Dynamics
Digital therapeutics distinguish themselves by focusing on patient clinical outcomes rather than using market-based health-related instruments like step and calorie-counters. This modern form of healthcare product utilizes digital technologies to prevent, manage, and treat ailments, including psychiatric conditions. The growing acceptance of digital health technologies, accelerated by the COVID-19 pandemic, has driven adoption across various healthcare domains, including digital therapeutics.
Key Players
Key market participants include 2Morrow, Inc., Akili Interactive Labs, Ayogo Health Inc., Better Therapeutics, Inc., Canary Health Inc., Click Therapeutics, Inc., Cognoa, Inc., Ginger, Kaia Health Software GmbH, Livongo Health Inc, Mango Health, Inc., Mindstrong Inc., Noom Health, Inc., Omada Health, Inc., Otsuka America Pharmaceutical, Inc., Pear Therapeutics, Inc., Propeller Health, WellDoc, Inc., and Wellthy Therapeutics.
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The FDA has extended and encouraged the use of digital health therapeutics technologies for mental health issues in response to COVID-19. Increased public and private sector initiatives are also expected to drive demand growth. For example, Akili Interactive Labs, Inc. obtained the CE mark for EndeavorRx, its digital therapeutics software for ADHD treatment, in June 2020.
Market Outlook
Digital therapeutics is expected to grow steadily due to increased internet usage and smartphone reliance, facilitating remote access to innovative treatment solutions. In February 2021, SilverCloud and Cerner Corporation collaborated to integrate SilverCloud’s virtual mental health network with Cerner’s electronic health records, aiming to scale the delivery of evidence-based mental health services while improving patient outcomes and reducing healthcare costs.
Market Segmentation
Application Outlook: Cardiovascular Disease (CVD), Central Nervous System (CNS) Disease, Diabetes, Obesity, Respiratory Diseases, Smoking Cessation, Others
End-Use Outlook: Employers, Patients, Providers, Payers, Others
Regional Outlook:
North America: U.S., Canada
Europe: France, Germany, UK, Italy, Spain, Netherlands, Austria
Asia Pacific: China, India, Japan, Malaysia, South Korea, Indonesia
Latin America: Mexico, Brazil, Argentina
Middle East & Africa: UAE, Saudi Arabia, Israel, South Africa.
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REASION TO BUY
Time Efficiency: The report saves time by providing comprehensive entry-level research. It consolidates information on market growth, size, key players, and segments, sparing the need for extensive individual research.
Business Strategy Guidance: By highlighting key business priorities, the report assists companies in reformulating their strategies. This guidance is invaluable in adapting to market dynamics and establishing a strong market presence.
Insightful Recommendations: The report offers key findings and recommendations based on industry trends. These insights help in crafting effective long-term strategies to maximize market revenue.
Business Expansion Planning: For companies looking to expand, the report provides valuable insights into both developed and emerging markets. This aids in creating or modifying expansion plans based on substantial growth opportunities.
In-depth Market Analysis: By scrutinizing regional market trends and drivers, the report provides a comprehensive understanding of the market landscape. It also highlights factors that might impede growth, allowing for informed decision-making.
Empowering Decision-Making: Understanding the strategies driving commercial interest in products, segmentation, and industry verticals enables better decision-making processes. This knowledge assists in making informed and strategic business decisions.
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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
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