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At 31.6% CAGR, The Digital Therapeutics Market worth $17.7 billion by 2027 - Exclusive Report by MarketsandMarkets™

MarketsandMarkets Research Pvt. Ltd.
MarketsandMarkets Research Pvt. Ltd.

Chicago, Nov. 30, 2022 (GLOBE NEWSWIRE) -- 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.

Browse in-depth TOC on "Digital Therapeutics (DTx) Market"
190 - Tables
33 - Figures
231 - Pages

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Scope of the Report:

Report Coverage

Details

Market Size

USD 17.7 billion by 2027

CAGR

31.6%

Historical Data

2020-2027

Base Year

2021

Forecast Period

2022-2027

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Sales Channel, By Application, And By Region

Geographies Covered

North America (US and Canada), Europe (Germany, UK, France, Spain, Italy, and the RoE), Asia Pacific (Japan, China, India, and the RoAPAC), and Rest of the World

Key Companies Profiled/Vendors

The major players 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).

Key Market Opportunities

Unexplored therapeutic applications

Key Market Drivers

Need to control healthcare costs

The digital therapeutics market is growing at the highest rate owing to factors such as increase incidence of preventable chronic diseases, the need to control healthcare costs, rising focus on preventive healthcare, and rising investments in digital therapeutics.

However, concerns of product & data quality, reliability in treatment decisions, patient privacy, security are restraining the growth of this market.

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On the basis of sales channel, the digital therapeutics market is segmented into business-to-business (B2B) and business-to-customer (B2C).In 2021, the B2B segment accounted for the largest share of the digital therapeutics market. The large share of this segment is recognized to rising awareness among providers, payers, and employers about the benefits of digital therapeutics.

On the basis of application, the digital therapeutics market is segmented into preventive and treatment/care-related applications. The treatment/care-related applications segment held the largest share in 2021. This is attributed to the growing incidences of chronic diseases and the increasing economic burden of their treatment.

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Geographical Growth Scenario:

The digital therapeutics market is segmented into four main regional segments: North America, Europe, the Asia Pacific, and the RoW. In 2021, North America held the largest share of the market, also expected to grow at the highest CAGR followed by Europe. Factors such as the influx of new start-ups, increasing investments in digital therapeutics, enhancements in the reimbursement structure for digital therapeutics, and government initiatives to encourage technological advancements drive market growth in this region.

Key Players:

Prominent players in the digital therapeutics market include 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).

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