According to the new market research report "Digital Therapeutics Market by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel B2C (Patient, Caregiver), B2B ( Providers, Payer, Employer, Pharma) - Global Forecasts to 2027", The global digital therapeutics market is projected to reach USD 17.7 billion by 2027 from USD 4.5 billion in 2022, at a CAGR of 31.6% during the forecast period.
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190 - Tables
33 - Figures
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Key Market Players
The digital therapeutics market is a highly diversified and competitive market, with several emerging players. The prominent players in this market include are Noom, Inc (US), Teladoc Health, Inc. (US), Omada Health, Inc. (US), WellDoc, Inc (US), Pear Therapeutics, Inc. (US), CogniFit Inc (US), Ginger (US), Propeller Health (US), 2Morrow, Inc. (US), Canary Health (US), Click Therapeutics, Inc. (US), Akili, Inc. (US), Cognoa, Inc (US), Wellthy Therapeutics Pvt. Ltd. (India), Twill Inc. (US), Better Therapeutics, Inc (US), Mindstrong (US), Kaia Health (Germany), BehaVR Inc (US), Ayogo (Canada), Mindable Health GmbH (Germany), Virta Health Corp (US), Hinge Health, Inc. (US), Orexo AB (Sweden) and Freespira (US).The players in the market focus on providing effective products to cater to the unmet needs of customers, increase profitability, and gain a competitive edge in the market.
Noom, Inc. (US) is among the world leaders digital therapeutics market in providing high-quality solutions for weight management, diabetes prevention, and stress reduction. Noom has been awarded multiple grants from the National Institutes of Health and provided the first mobile application recognized by the US CDC as a certified diabetes prevention program. In October 2021, Noom, Inc. launched a program called Noom Mood to expand its behavioral change approach to other conditions, including diabetes, hypertension, and sleep. The company is present in New York (US), Berlin (Germany), Seoul (South Korea), and Tokyo (Japan).
Teladoc Health, Inc. (US) is one of the prominent players digital therapeutics market. The company uses proprietary health signals and personalized interactions to improve health outcomes. It mainly targets diabetes, hypertension, weight management, diabetes prevention, and mental health. In February 2022, Teladoc Health, Inc. launched the Chronic Care Complete program, a chronic condition management solution to help individuals improve their health outcomes while living with multiple chronic conditions. Its programs, such as Chronic Care Complete and myStrength, have been accelerated by the 2020 merger with Livongo, further developing Teladoc Health’s ability to deliver true whole-person care with fully integrated clinical and digital solutions responsive to market needs. The merger between Teladoc and Livongo is one of the most significant integrations of competencies and skills in digital health.
Omada Health, Inc (US) is one of the leading player digital therapeutics market. The company provides integrated, virtual care across chronic conditions, a top clinical need for employers and health plans. In June 2019, the company secured USD 73 million from its investors to develop digital care health programs focusing on preventable chronic conditions. The company is focusing on broadening its product offerings beyond diabetes—in April 2021, the company launched the Physician-guided Care Program, a virtual cardiometabolic clinic for hypertension and diabetes patients. The company also partners with many employers, payers, healthcare systems, and pharma companies.
By application, treatment/care-related applications form the largest segment of the digital therapeutics market
The application segment in digital therapeutics market is bifurcated into preventive and treatment/care-related applications. In 2021, the treatment/care-related applications segment held the largest share of this market. Rising healthcare costs, the growing prevalence of chronic diseases, and the ability of digital therapeutics to provide cost-effective solutions are the key factors driving the market for treatment/care-related digital therapeutics applications.
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North America commanded the largest share of the digital therapeutics market in 2021.
North America held the largest share of the market, followed by Europe. The market in North America is also expected to grow at the highest CAGR. Factors such as the increasing investments in digital therapeutics, gradually improving reimbursement structures for digital therapeutics solutions drive market growth in this region.
Recent Developments:
- In August 2022, Pear Therapeutics (US) entered into an agreement with SelectHealth (US) to provide members with covered access to Pear’s innovative prescription digital therapeutic (PDT), reSET-O, for treating opioid use disorder (OUD) as an adjunct to outpatient treatment.
- In March 2022, Omada Health (US) integrated behavioral health support into its programs (Diabetes Prevention, Diabetes Management, Hypertension, and Musculoskeletal). The new behavioral health integration comprises anxiety and depression assessment, resources to manage social health determinants, like food access, stress management, and sleep tools.
- In April 2021, Welldoc (US) partnered with Dexacom (US). This partnership helped provide BlueStar with Dexcom G6 CGM as a single platform to people with Type 2 diabetes for improved health.
- In March 2021, Pear Therapeutics (US) partnered with Sprectrum Health Systems (US). Tufts Health Plan and Spectrum Health Systems announced a collaboration with Pear Therapeutics to test FDA-approved digital therapeutics to help people with substance use disorders and improve their recovery journeys by delivering solutions for improved treatment access and care innovation journeys by delivering solutions for improved treatment access and care innovation
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Related Reports:
Digital Therapeutics (DTx) Market by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel B2C (Patient, Caregiver), B2B ( Providers, Payer, Employer, Pharma) - Global Forecasts to 2027
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