Global Digital Therapeutics (DTx) Market

Dublin, April 02, 2024 (GLOBE NEWSWIRE) — The “Global Digital Therapeutics (DTx) Market by Offerings (Platform, Virtual Reality/Games), Revenue Model (Subscription, Value Based), Application (Therapy (Diabetes, Obesity, CNS, Respiratory, CVD), Drug Adherence, Rehab/Patient care) – Forecast to 2028” report has been added to ResearchAndMarkets.com’s providing.

The digital therapeutics market is projected to achieve USD 21.9 billion by 2028 from USD 6.1 billion in 2023, at a CAGR of 29.1% through the forecast interval. The fast adoption of digital therapeutics is pushed by elements such because the rising variety of sufferers grappling with power illnesses and escalating investments on this sector. Nonetheless, impediments to market development embrace a lack of expertise and entry to digital therapeutics applications in growing nations, resistance from conventional healthcare suppliers, and the existence of uneven fee fashions.

The subscription-based income mannequin phase represents the biggest and fastest-growing class available in the market over the forecast interval

The income mannequin phase the digital therapeutics market is categorized into subscription, one-time buy/licensing, and consequence/worth based mostly. In 2022, the subscription phase held the biggest market share. Digital therapeutics typically intention for long-term well being outcomes, requiring customers to decide to this system over an prolonged interval. Subscription fashions encourage consumer dedication by providing incentives and steady entry to the platform’s options.

Diabetes phase is predicted to develop on the highest charge through the forecast interval

Concerning the kind of remedy/care-related utility, the digital therapeutics market is categorized into diabetes, CNS problems, power respiratory illnesses, musculoskeletal problems, cardiovascular illnesses, smoking cessation, remedy adherence, gastrointestinal problems, substance use problems & dependancy administration, rehabilitation & affected person care, and different remedy/care-related purposes.

Within the class of remedy/care-related purposes, the diabetes phase is poised to register the best development charge through the forecast interval. The marketplace for digital therapeutics in diabetes accounted for the biggest share in 2022. The driving elements embrace the rising prevalence of diabetes, the numerous healthcare prices related to the situation, and rising authorities initiatives targeted on assuaging the burden by cost-effective options.

The B2B phase is predicted to develop with the best CAGR through the forecast interval

With respect to the gross sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B). The B2B phase is anticipated to exhibit the best CAGR through the forecast interval, attributed to the rising partnerships of pharmaceutical corporations with digital well being corporations to combine digital therapeutics with their drug merchandise. Pharmaceutical corporations are actively partaking in strategic partnerships and acquisitions with digital therapeutics suppliers. These collaborations permit pharmaceutical corporations to combine digital therapeutics into their broader healthcare options, providing a holistic method to affected person care.

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Additionally, payers, together with insurance coverage corporations and healthcare suppliers, are more and more embracing value-based care fashions. Digital therapeutics align with these fashions by emphasizing outcomes, prevention, and cost-effectiveness. Payers see the potential of DTx in decreasing healthcare prices by preventive interventions, finally driving adoption.

North America to be the biggest and the fastest-growing regional market

North America, comprising of the US and Canada, held the lion’s share for digital therapeutics market in 2022. Factors reminiscent of the federal government schemes to fund technological developments progresses mixed with the favorable reimbursement construction for digital therapeutics are projected to the drive market development on this area.

Additionally, payers and healthcare suppliers in North America have been early adopters of digital therapeutics. The area has witnessed a proactive method from insurance coverage corporations, healthcare suppliers, and different stakeholders in recognizing the medical and cost-effectiveness of DTx. This early buy-in has pushed widespread adoption throughout completely different healthcare settings.

Research Coverage

This report contains qualitative and quantitative evaluation of the digital therapeutics market. The key targets of the report are to estimate the dimensions and future development potential of the market throughout completely different segments, which incorporates gross sales channel, income mannequin, utility, providing and area. The report additionally contains of in depth aggressive evaluation of the outstanding market gamers, together with their monetary info, current developments, firm profiles, current developments, and prevalent market methods.

Premium Insights

• Increasing Incidence of Chronic Diseases and Rising Need to Curb Healthcare Costs to Drive Market

• B2B Sales Channel Segment to Dominate Market During Forecast Period

• US to Grow at Highest CAGR During Forecast Period

Market Dynamics

• Drivers

  • Increasing Incidence of Chronic Diseases

  • Growing Focus on Preventive Healthcare

  • Rising Need to Curb Healthcare Cost

  • Surge in Venture Capital Investments

  • Benefits of Digital Therapeutics

• Restraints

• Opportunities

• Challenges

  • Unstable Pricing Models

  • Reluctance Among Patients for DTx Adoption

  • Limited Awareness in Emerging Economies

  • Resistance from Traditional Healthcare Providers

• Industry Trends

Technology Analysis

• Machine Learning

• Artificial Intelligence

• Internet of Things

• Blockchain Technology

• Cloud Computing

• Data Analytics

• Extended Reality

Value Chain Analysis

Case Study Analysis

• Case Study 1: Wellthy Therapeutics (India)

• Case Study 2: Happify Health (US)

• Case Study 3: Omada Health (US)

Companies Profiled

• Noom, Inc.

• Teladoc Health, Inc.

• Omada Health, Inc.

• Welldoc, Inc.

• Cognifit, Inc.

• Headspace Health

• Propeller Health

• 2Morrow, Inc.

• Canary Health

• Click Therapeutics, Inc.

• Akili, Inc.

• Wellthy Therapeutics Pvt. Ltd.

• Cognoa, Inc.

• Twill Inc.

• Kaia Health Software GmbH

• Better Therapeutics, Inc.

• Realizedcare

• Biofourmis

• Ayogo Incorporated

• Amalgam Rx, Inc.

• Mindable Health GmbH

• Virta Health Corp.

• Hinge Health

• Orexo Ab

• Freespira, Inc.

Key Attributes

For extra details about this report go to https://www.researchandmarkets.com/r/e73rlj

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