Global Digital Therapeutics Market Report and Forecast 2024-2032

Global Digital Therapeutics Market Outlook

The global digital therapeutics market size was valued at USD 4.5 billion in 2023, driven by the growing prevalence of telehealth services across the globe. The market is expected to grow at a CAGR of 31.6% during the forecast period of 2024-2032, with the values likely to rise from USD 5.92 billion in 2024 to USD 53.2 billion by 2032.

Global Digital Therapeutics Market Overview

Digital therapeutics are therapeutic interventions that help in patient treatment, management, and disease prevention with the help of evidence based and clinically evaluated software. It delivers therapies using smartphones, tablets and similar technologies and offers clinically safe and effective therapies to patients. The market is impacted by the increasing prevalence of chronic diseases and the rising convergence of digital technologies, artificial intelligence, and machine learning capabilities along with the advent of sensor capabilities.

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Increased Application in Clinical Trials to Aid the Market Growth

In December 2023, ObvioHealth  announced the launch of their new API (application programming interface), tailored particularly for digital therapeutic clinical trials. The new electronic clinical outcome assessment (eCOA) solution integrates enhanced study design technology with scientific and clinical services. It enables rapid publishing of the assessment on the mobile apps to offer more robust results for trial sponsors. It also evaluates patient engagement tactics and offers personalized assistance to patients, ensuring their safety as well.

Rising Collaborations Between Pharmaceutical Giants and Prescription Digital Therapeutics Makers

With the vision to integrate technology related components in their product range and enter the digital health space, several pharmaceutical companies have started partnering with PDTs. In September 2023, Bayer AG entered a partnership with Mahana Therapeutics  to commercialize irritable bowel syndrome (IBS) related digital therapies. Mahana IBS, the company’s lead product uses cognitive behavioral therapy (CBT) to impact gut-brain communication. The agenda of such collaborations is primarily focused on connecting consumers with digital health tools. Hence, it is expected to impact the digital therapeutics market growth substantially.

Innovative Product Launches for Enhanced Services to Significantly Benefit the Market

To improve the quality of patient care in the upcoming ages, healthcare companies have realized that digital therapeutics is poised to play an active role in healthcare management. The shift has been significant, especially post COVID-19. Consequently, there have been comprehensive upgrades and new product launches to meet the rising digital therapeutics market demand. In November 2023, the Digital Therapeutics Alliance  (DTA) launched a Policymaker & Payor DTx Evaluation Toolkit, which includes components like foundation setting materials, DTx assessment guides and implementation resources. It featured market access pathways, prescription vs non-prescription statuses, along with clinical and economic impact of products along with its security, privacy, usability, and evidence requirements.

Software Segment is Expected to Lead the Digital Therapeutics Market Share

Based on components, the market is broadly divided into software and devices. Out of the two, the software segment is projected to dominate the market, which can be attributed to rising prevalence of applications that improve the user interface and convenience for both patients and healthcare providers. There has been continuous development in the existing models to bring relevant changes. One such example is Freespira’s Bluetooth  wireless technology enabled devices which come with sensor samples, measuring exhaled carbon dioxide and respiration rate, and directly transmitting the data to Freespira’s application.

Growing Emphasis on Preventive Healthcare in the Geriatric Population

The rising prevalence of chronic diseases, the need to reduce healthcare costs, a growing focus on preventive healthcare, and increasing investments in digital therapeutics are all driving the digital therapeutics market growth. Chronic diseases' high incidence rate is a serious problem for healthcare systems all over the world. Patients with chronic diseases provide a considerable barrier in terms of therapy, since psychosomatic or biopsychic variables frequently affect these patients. Many chronic diseases and conditions progress over time, and their prevalence rises as people get older. As a result, chronic diseases are expected to rise even more throughout the forecast period as the global geriatric population grows. This is expected to provide considerable growth opportunities for the digital therapeutics industry.

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Global Digital Therapeutics Market Segmentation

Market Breakup by Application

• Preventive

• Prediabetes

• Obesity

• Others

• Treatment

• Diabetes

• Respiratory Care

• Mental Health

• Cardiovascular

• Others

Market Breakup by Component

• Software

• Device

Market Breakup by End-user

• Patients

• Providers

• Payers

• Employers

• Others

Market Breakup by Sales Channel

• B2B

• B2C

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Digital Therapeutics Market Regional Analysis

The United States, with a robust healthcare infrastructure that can integrate the digital advancements, is expected to dominate the digital therapeutics market size in the forecast period. The existence of impactful academic as well as research institutions drives the market growth in the region. The increasing adoption of telehealth services is another major aspect.

In March 2023, NeuroRPM  received the FDA clearance for using artificial intelligence enabled remote monitoring app for Parkinson’s disease. It monitors the disease indications such as bradykinesia, tremor, and dyskinesia continuously using proprietary algorithms. This indicates the ongoing trend of healthcare practitioners and companies adopting digital services to improve the treatment alternatives for patients. Similar have been employed for migraine, PTSD, psychiatric conditions, and chronic lung diseases like CAD as well.

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Global Digital Therapeutics Market: Competitor Landscape

In October 2023, Sidekick Health  acquired aidhere, a Germany based pioneer of prescription digital therapeutics. This acquisition also loops in zanadio, which is one of the most successful PDTs with over 50,000 prescriptions and is recognised within Germany’s self-regulated DiGA. It strengthens Sidekick Health’s portfolio as a trusted partner for pharmaceutical giants and global health insurers.

The market has been flourished with relevant developments, wherein several companies have been undergoing significant transformations to expand their product portfolio. The key features of the digital therapeutics market report include grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Omada Health, Inc.

• Welldoc, Inc.

• 2Morrow, Inc

• Livongo Health, Inc. (Teladoc Health, Inc.)

• Propeller Health (ResMed)

• Fitbit LLC

• Mango Health

• Canary Health

• Noom, Inc.

• Pear Therapeutics, Inc.

• Akill Interactive Labs, Inc.

• JOGO Health

• GAIA AG

• CureApp, Inc.

• Brain+ A/S

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Digital Therapeutics Market Report Snapshots

Digital Therapeutics Market Size

Digital Therapeutics Regional Analysis

Digital Therapeutics Companies