Digital Therapeutics Market Size and Forecast 2024-2033|Omada Health Inc., WellDoc Inc., 2Morrow Inc., Livongo Health, Propeller Health

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Overview and Scope

Digital therapeutics (DTx) are the products that give evidence-based therapeutic treatments to patients through high-quality software applications in order to prevent, manage, or treat a medical ailment or disease.

Sizing and Forecast

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

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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Segmentation & Regional Insights

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

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.

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Major Driver Impacting Market Growth

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.

Key Industry Players

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.

The digital therapeutics market report table of contents includes:

1. Executive Summary

2. Digital Therapeutics Market Characteristics

3. Digital Therapeutics Market Trends And Strategies

4. Digital Therapeutics Market – Macro Economic Scenario

5. Global Digital Therapeutics Market Size and Growth

26. South America Digital Therapeutics Market

27. Brazil Digital Therapeutics Market

28. Middle East Digital Therapeutics Market

29. Africa Digital Therapeutics Market

30. Digital Therapeutics Market Competitive Landscape And Company Profiles

Top Major Players: