Forecast: Digital Therapeutics Market to Grow at 20% CAGR Over the Next five Years

2023: 2Morrow® Inc., was awarded USD 1.9 Million NIH Grant to Develop a Digital Therapeutic for Patients with Chronic Pain.  

According to MarkNtel Advisors study, The Global Digital Therapeutics Market is estimated to grow at a CAGR of around 20% during the forecast period, i.e., 2024-30.

The integration of virtual reality (VR) technology holds promising prospects within the Global Digital Therapeutics Market. It offers immersive solutions for the treatment & management of various conditions, such as strokes, post-traumatic stress disorder (PTSD), obsessive-compulsive disorder (OCD), anxiety disorders, substance abuse, etc. With the prevalence of these diseases on the rise, integrating VR into therapeutic interventions presents an opportunity to enhance patient engagement & adherence to treatment plans. Also, by immersing users in simulated environments, VR facilitates behavior change, pain management, and cognitive therapy, thereby expanding the scope of digital therapeutics into new therapeutic areas and improving overall healthcare outcomes. Hence, the Global Digital Therapeutics Market would experience profitable opportunities in the coming years.

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Key Findings in Digital Therapeutics Market:

Digital Therapeutics Market Key Players:

Omada Health Inc., Google (Fitbit Health Solutions), 2Morrow® Inc., Teladoc Health. Inc. (Livongo), ResMed (Propeller Health), Aptar (Voluntis, Inc.), Welldoc, Inc., Canary Health, Noom, Inc., Biofourmis, Click Therapeutics, Better Therapeutics, Cognoa, CogniFit Inc., Virta Health, Others,

Market Segmentation Overview:

By Product

-Software

-Hardware

The Software category held a major share of the Global Digital Therapeutics Market. The growth owes to the increased prevalence of chronic & infectious diseases necessitating the adoption of scalable & cost-effective solutions, such as digital therapeutics. Also, the aging population at risk for several chronic diseases demands effective solutions, such as digital therapeutics for managing chronic conditions, promoting adherence to treatment plans, and enabling remote monitoring. Hence, this becomes more crucial for elderly individuals, who may have mobility restrictions or require frequent healthcare interventions, thereby driving the demand for digital therapeutic software.

By Application

-Preventive

--Pre-Diabetes

--Obesity

--Smoking Cessation

--Others (Hypertension, Sleep Hygiene, etc.)

-Treatment/Care

--Cardiovascular Diseases (CVDs)

--Central Nervous System Diseases

--Diabetes

--Musculoskeletal Diseases

--Others (Respiratory Diseases, Drug Substance Abuse, etc.)

By Business Model

-Business-to-Consumer (B2C)

-Business-to-Business (B2B)

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By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

The Digital Therapeutics Industry Recent Development:

2024: Otsuka Pharmaceutical, Co. Ltd. and Click Therapeutics, Inc., announced that the US Food and Drug Administration (FDA) has cleared Rejoyn™ (developed as CT-152), the first prescription digital therapeutic authorized for the treatment of major depressive disorder (MDD).

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