The digital therapeutics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Digital Therapeutics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The digital therapeutics market size has grown exponentially in recent years. It will grow from $7.05 billion in 2023 to $8.93 billion in 2024 at a compound annual growth rate (CAGR) of 26.7%. The growth in the historic period can be attributed to aging population and chronic diseases, digital health adoption, healthcare costs and efficiency, remote patient monitoring, and pandemic-induced demand
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The digital therapeutics market size is expected to see exponential growth in the next few years. It will grow to $23.49 billion in 2028 at a compound annual growth rate (CAGR) of 27.4%. The growth in the forecast period can be attributed to increasing adoption of personalized medicine, health data interoperability, value-based care models, increasing mental health and well-being focus, healthcare access and equity, growing cybersecurity and data protection, growing demand for population health management. Major trends in the forecast period include expansion of iot devices and sensors, artificial intelligence in healthcare, wearable health technology, technological advancements, and product innovations.
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Scope Of Digital Therapeutics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Digital Therapeutics Market Overview
Market Drivers –
The increase in use of smartphones and tablets, coupled with healthcare apps, is expected to propel the growth of the digital therapeutics market in the forecast period. Smartphones and tablet-based healthcare apps have numerous advantages over the lower rate of medication errors, facilitating preventive care, and more accurate staffing. For instance, according to the State of Mobile Internet Connectivity Report 2023 by Groupe Speciale Mobile Association (GSMA), a UK-based non-profit organization, in 2022, more over half of the world’s population (54%) possess a smartphone. Therefore, the increasing use of smartphones drives the growth of the digital therapeutics market.
Market Trends –
Technological innovation is an emerging trend gaining popularity in the digital therapeutics market. Major companies operating in the market are focused on developing technologically advanced solutions for digital therapeutics to strengthen their position. For instance, Boehringer Ingelheim, a Germany-based pharmaceutical company, and Click Pharmaceuticals, a US-based prescription digital therapeutics business, have agreed to collaborate on the development and commercialization of a digital medication for schizophrenia patients worth more than $500 million. The treatment named CT-155 will be a mobile app developed on click’s technology platform, according to the company.
The digital therapeutics market covered in this report is segmented –
1) By Product: Software, Devices
2) By Sales Channel: Business-To-Business (B2B), Business-To-Consumers (B2C)
3) By Application: Preventive Applications, Treatment Or Care-Related Applications
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Regional Insights –
North America was the largest region in the digital therapeutics market in 2023. The Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital therapeutics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the digital therapeutics market include Omada Health Inc., WellDoc Inc., 2Morrow Inc., Livongo Health, Propeller Health, Pear Therapeutics, Canary Health Inc., Noom Health Inc., Mango Health Inc., Akili Interactive Labs, Better Therapeutics, Happify Health, Kaia Health, Medtronic plc, Teladoc Health Inc., Fitbit Health Solutions, EMulate Therapeutics, BigHealth, DarioHealth, IQVIA, JOGO Health, SilverCloud Health, Biofourmis Inc., Prosoma, Virta Health Corp., One Drop Inc., Lark Health, Riva, Xealth, CogniFit Ltd.
Table of Contents
1. Executive Summary
2. Digital Therapeutics Market Report Structure
3. Digital Therapeutics Market Trends And Strategies
4. Digital Therapeutics Market – Macro Economic Scenario
5. Digital Therapeutics Market Size And Growth
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27. Digital Therapeutics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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