Global Digital Therapeutics (DTx) Market Opportunities and Forecast 2023-2030

Digital Therapeutics (DTx) Market Overview

Chronic diseases have increased the burden on healthcare systems across the world. The high prevalence and incidence rate of chronic diseases may be a major concern for healthcare systems across the world.

The treatment of patients with chronic diseases may be a significant challenge, as psychosomatic or biopsychic factors fairly often influence these patients. As chronic diseases are often related to high levels of uncertainty, patients got to change their behaviour as a part of a replacement self-care lifestyle. Furthermore, many chronic disorders and conditions are progressive, and their incidence increases with age. As a result, with significant growth within the global geriatric population, chronic disorders are expected to rise further within the coming years.

In many countries, various health apps are bereft of appropriate approvals, resulting in concerns of product & data quality, reliability in treatment decisions, patient privacy, security, and therefore the responsible use of knowledge. Digital therapeutics providers have access to patient information and are forbidden from sharing the knowledge with anyone not involved in treating that patient. However, with the mixing of knowledge using digital tools, the patient’s data is in danger of being accessed by any healthcare professional not associated with the patient’s treatment program.

However, despite such federal initiatives, digital therapeutics users are subject to infringement and data breaching, which may restrain the expansion of the digital therapeutics market
 
Covid-19 Impact on Digital Therapeutics (DTx) Market:
 
In addition, this Global Market study offers an thorough analysis of this COVID-19 pandemic impact on the market growth and its influence on the long run growth of the worldwide Market. The recently published report demonstrates the elevation within the demand for the healthcare sector. The healthcare manufacturers have experienced future also as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.

The increasing need for a cure has pushed vaccine research and manufacturers to the limit. Additionally to this, panic conditions have already spurred the demand for several healthcare products and services which are discussed intimately during this report. Moreover, the impact of this pandemic on overall market revenue for the bottom year 2020 and its projection up to 2027 is provided intimately during this report.
 
Digital Therapeutics (DTx) Market Segment Overview
 
By product type, the software segment is projected to exhibit the best growth during the forecast period. This is often because of a rise in demand for lower healthcare prices round the world. This provides developers with a wealth of options to enhance existing software by adding new and advanced features that make it simpler and cheap.

By Sales Channel, business-to-business (B2B) segment is projected to exhibit the simplest growth during the forecast period. This is often attributed to growing awareness among providers, payers, and employers about the benefits of digital therapeutics and thus the inclination of pharmaceutical companies to integrate digital therapeutics with their drug products

By Application, diabetics segment is projected to exhibit the simplest growth during the forecast period. The growing prevalence of diabetes, high healthcare costs associated with diabetes, and increasing government initiatives to chop back the burden with the help of cost-effective solutions are expected to drive the market growth during this segment.

Market Analysis, Insights and Forecast – By Product  
·       Software
·       Device

Market Analysis, Insights and Forecast – By Sales Channel 
·       Business-to-Business (B2B)
·       Employer
·       Healthcare Provider
·       Others
·       Business-to-Consumer (B2C)
·       Patient
·       Caregiver

Market Analysis, Insights and Forecast – By Application
·      Diabetes
·      Obesity
·      Cardiovascular Disease (CVD)
·      Central Nervous System (CNS) Disease
·      Respiratory Disease
·      Smoking Cessation
·      Gastrointestinal Disorder (GID)
·      Others.
 
Digital Therapeutics (DTx) Market Regional Overview

Region-wise, in terms of regions, North America accounted for the biggest share of the drug discovery services market. Increased pressure to cut back costs and improve services and changing government regulations are driving the expansion of the healthcare BPO market in North America.

Digital Therapeutics (DTx) Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
 
Digital Therapeutics (DTx) Market Competitor overview

Some key developments and strategies adopted by manufacturers in the Digital Therapeutics (DTx) are highlighted below.
 
·        In 2021,.Tufts Health Plan and Spectrum Health Systems announced a collaboration with Pear Therapeutics to check FDA-approved digital therapeutics to assist 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
 
Digital Therapeutics (DTx) Market, Key Players

·       Noom
·       Livongo Health
·       Omada Health
·       WellDoc
·       Pear Therapeutics
·       Proteus Digital Health
·       Propeller Health
·       Akili Interactive Labs
·       Better Therapeutics
·       Happify
·       Kaia Health
·       Mango Health
·       Click Therapeutics
·       Canary Health
·       Wellthy Therapeutics
·       Cognoa
·       Ayogo Health
·       Mindstrong Health
·       2Morrow
·       Ginger
·       BehaVR
·       Mindable Health
·       Virta Health
·       Hinge Health
·       Doktor.se