USD 968.6 million
Digital Therapeutics Market Size, Share, Growth Analysis, By Offering(Software/platforms, Programs, Virtual reality/games), By Revenue Model(Subscription-based model, One-time Purchase/Annual Licensing Model, and Outcome /value-based model), By Application(Treatment/care-related applications, and Preventive Applications), By Distribution Channel (B2B sales channel), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2136 |
Region:
Global |
Published Date: September, 2024
Pages:
274
|Tables:
119
|Figures:
77
Digital Therapeutics Market Insights
Global Digital Therapeutics Market size was valued at USD 3.44 billion in 2022 and is poised to grow from USD 4.01 billion in 2023 to USD 13.72 billion by 2031, at a CAGR of 16.61 % during the forecast period (2024-2031).
Digital therapeutics consists of software and devices that digitally maintain evidence-based therapeutic interventions. It helps medical providers to efficiently prevent and manage diseases. The software and devices help in treating different types of diseases like mental health, diabetes, respiratory diseases, and cardiovascular diseases. The demand for these products is increasing immensely because of the growing incidences of chronic diseases like diabetes, mental illness, cancer, and heart failure. These factors are increasing the adoption of therapeutics for managing and treating different chronic disorders among patients. Furthermore, the popularity of these products is also increasing in the pharmaceutical sector, which is also positively influencing the market growth. The market leaders are also emphasizing research and development activities to produce advanced therapies for treating different diseases, which is accelerating the production of these products. These factors are leading to the expansion of the digital therapeutics market.
US Digital Therapeutics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Patients
Fastest Growth
Patients
Growth Rate
7.2% CAGR
Global Digital Therapeutics Market ($ Bn)
Country Share for North America Region (%)
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Digital Therapeutics Market Segmental Analysis
Global digital therapeutics market is segmented on the basis of offering, revenue model, application, sales channel, and region. By offering, market is segmented into software/platforms, programs, virtual reality/games. By revenue model, market is segmented into subscription-based model, one-time purchase/annual licensing model, and outcome /value-based model. By application, market is segmented into treatment/care-related applications, and preventive applications. By distribution channel, market is segmented into B2B sales channel, and B2C sales channel. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Digital Therapeutics Market Analysis by Application
In terms of application, the demand for Digital Therapeutics market is segmented into Treatment Applications, and Preventive Applications. The treatment segment is dominating the digital therapeutics market with the largest market share. The growing prevalence of people suffering from cardiovascular diseases, diabetes, and poor mental health conditions is boosting the demand for this application. These therapies are used for efficiently treating these diseases. Furthermore, major key players are focusing on the formation of strategic collaborations with other organizations to introduce medication adherence software. This is increasing the high adoption of these products in the digital therapeutics market. These factors are propelling the growth of the treatment segment in digital therapeutics, leading to the expansion of the market.
The prevention segment is witnessing the fastest growth in the digital therapeutics market. This growth is primarily owing to the increasing modern lifestyle-related conditions such as smoking cessation, obesity, prediabetes, and various other chronic conditions are expected to boost the demand for these devices during the forecast period. Increased awareness and adoption of preventive healthcare measures, rising burden of chronic diseases prompting proactive healthcare strategies, and supportive regulatory frameworks encouraging the development and integration of preventive digital therapeutics are the factors propelling the segmental growth. Additionally, collaborations between digital health companies and traditional healthcare providers further drive the expansion of preventive offerings in this segment.
Digital Therapeutics Market Analysis by Distribution Channel
Based on distribution channel, the market is segmented into B2B and B2C. The B2B segment is expected to dominate the market during the forecast period. The B2B (Business to Business) segment consists of the payer, provider, employer, and pharmaceutical organizations. The market share is dominated by key market players and pharmaceutical companies because they are engaging more in an increasing number of mergers and collaborations. Companies are also focusing more on launching new products to improve the therapies related to various diseases. Furthermore, many companies are also increasingly providing various therapies to their employees to maintain their wellbeing. This is also expanding the customer base, thereby propelling segmental growth. These factors are exponentially increasing the growth of the digital therapeutics market.
The B2C (Business to Customer) segment is witnessing the fastest growth in the digital therapeutics market. This is because of the growing awareness about the benefits and ease of use of these products amongst patients and caregivers. The increasing consumer demand for convenient and accessible healthcare solutions, growing smartphone penetration and internet connectivity enabling direct-to-consumer delivery models, rising health consciousness and self-management trends among individuals are expected to increase the demand for these therapeutics’ apps. Moreover, marketing strategies by players emphasizing user-centric features and benefits play a crucial role in driving product adoption through this sales channel.
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Digital Therapeutics Market Regional Insights
North America is dominating the digital therapeutics market with the largest revenue share. This is mainly due to the increasing number of initiatives for reducing the rising healthcare spending across the region. Furthermore, the region is a hub for many solutions providers for digital therapeutics that again drive the region's market growth. The digital therapeutics market expansion in this region is fueled by factors such as the entry of new startups, changes in the reimbursement structure of digital therapeutics, increased investments in digital therapeutics, and growing government initiatives to assist technological developments.
The Asia Pacific region is witnessing the fastest growth in the digital therapeutics market. This growth is mainly because of the large consumer base along with the rising geriatric population in the region. Due to its early acceptance of new and innovative technology, and increased investment through funding, the Asia-Pacific is experiencing this surge in the market. The investment is related to increased government investment, and mergers and acquisitions. The demand for healthcare IT systems has been growing as they enable efficient management of hospitals' clinical, financial, and administrative aspects. An increase in demand for adequate healthcare, improved access to the internet, and a rise in smartphone penetration are the factors facilitating a rapid increase in the Asia Pacific market.
Global Digital Therapeutics Market By Geography
- Largest
- Fastest
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Digital Therapeutics Market Dynamics
Digital Therapeutics Market Drivers
Prevalence of Chronic Diseases
- The demand for therapeutics software and devices is increasing because of the management and treatment of chronic diseases globally. Furthermore, the incidences of chronic conditions, like type 1 diabetes & type 2 diabetes, cancers, Alzheimer’s diseases, obesity, and gastrointestinal disorders are also increasing. This is especially true in emerging economies, which is propelling the demand for this software during the forecast period.
Increasing Use of Smartphones
- With the increasing digitalization, healthcare has experienced many changes in the last few years. The advent of smart medical devices and a cloud-based data platform along with smartphones allows better treatment and health monitoring. With this market players are emphasizing more on developing and launching innovative technologies embedded with applications for treating various chronic diseases with the help of these products.
Restraints
Restrictions Related to Digital Therapeutics
- This market is an emerging field of software and device-driven based products that can be used to prevent, manage or treat medical conditions. But growing problems related to cybersecurity are becoming a huge concern, that is restricting the adoption of therapeutics. Furthermore, the absence of regulatory clarity, reimbursement difficulties, and disparities with access to technology, are also restricting its adoption in the market. Patients are becoming more aware and concerned about the risks and vulnerabilities of their medical data.
High Expense of Manufacturing
- The huge expenditure necessary for manufacturing these therapeutics is hampering the market growth. Many market players are making massive investment for integrating new and advanced therapeutics to accelerate the process, which is increasing the cost. Producing digital therapeutics also consists of various expenses connected to research, software development, clinical trials, and regulatory approvals. These expenses are restraining the growth of the market.
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Digital Therapeutics Market Competitive Landscape
The digital therapeutics market is a dynamic and fragmented market. It consists of many players in digital therapeutics who offer a wide range of products, like mobile software and devices. Market leader Pear Therapeutics, Inc, is dominating the market with a strong line of software. The growing sales of reSET & reSET-O in the U.S. are supporting its strong market share. Furthermore, the increasing investments in research and development of digital therapeutics products is also contributing towards the expansion of the market globally.
Digital Therapeutics Market Top Player’s Company Profiles
- ANSYS (US)
- Dassault Systèmes (SIMULIA) (France)
- Siemens Digital Industries Software (Simcenter) (Germany)
- PTC (Creo) (US)
- Autodesk (Simulation) (US)
- OpenFOAM (Open-source) (N/A)
- STAR-CCM+ (US/Germany)
- COMSOL Multiphysics (Sweden)
- CD-adapco (STAR-CD, STAR-CCM+) (US/Germany)
- Altair (HyperWorks) (US)
- ESI Group (France)
- MSC Software (MSC Adams, MSC Marc) (US)
- MathWorks (MATLAB/Simulink) (US)
- Flow3D (US)
- Fluent (acquired by ANSYS) (US)
- CONVECTION (US)
- Cadence Design Systems (US)
- Synopsys (US)
- Numerica (US)
- Pointwise (US)
Digital Therapeutics Market Recent Developments
- In May 2024, Otsuka announced the introduction of their subsidiary focusing on data and technology. The Otsuka Precision Health will commercialize Rejoyn, which is a digital therapeutic for people suffering from major depressive disorder.
- In January 2024, Eli Lilly and Company introduced their LillyDirect. It is a digital healthcare platform for U.S. patients that can manage obesity, migraine, and diabetes.
- In November 2023, Curavit Clinical Research launched a new service for clinical trials. This service emphasizes Health Economics and Outcomes Research (HEOR).
Digital Therapeutics Key Market Trends
- Incorporation of Digital Therapeutics with Healthcare Systems: Digital therapeutics can be smoothly incorporated into electronic health records (EHRs) and other healthcare systems. This helps medical professionals to easily access and monitor patient data in real-time. This restructuring of medical delivery enhances the efficiency of care and helps doctors to make better and more informed decisions. Furthermore, incorporation with medical systems also improves security and standardizes data sharing between digital therapeutics platforms and medical professionals.
- Emergence of New Products: Key market players are introducing new products into the market that can improve the efficiency of the therapies and provide opportunities in the future. The potential products of pear therapeutics, clinical therapeutics products in phase III are Pear-011 (anxiety GAD), Pear-015 (depression MDD). These can be utilized for the treatment of chronic insomnia and depression and CT-152 (major depressive disorder), CT-155 (schizophrenia).
Digital Therapeutics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global Digital Therapeutics market is experiencing a period of moderate growth, which is driven by several essential factors. The primary factors that are boosting the demand for digital therapeutics are the necessity to reduce the expense of product designs and the time taken for manufacturing. Companies are shifting towards process automation to achieve these objectives. Latest developments in digital therapeutics can accurately predict flow characteristics in complex systems, such as separation systems, pipeline component interactions, and heat exchangers.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.44 billion |
| Market size value in 2031 | USD 13.72 billion |
| Growth Rate | 16.61% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Digital Therapeutics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Digital Therapeutics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Digital Therapeutics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Digital Therapeutics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Digital Therapeutics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Digital Therapeutics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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