Digital Therapeutics (DTx) market research report by Delvens focuses on primary sections such as – market segments, market outlook, competitive landscape, and company profiles. The segments provide details in terms of various perspectives such as end-use industry, product or service type, and any other relevant segmentation as per the market’s current scenario which includes various aspects to perform further marketing activity.
The global Digital Therapeutics (DTx) market size was estimated at USD 5.47 billion in 2023 and is projected to reach USD 28.68 billion in 2030 at a CAGR of 26.70% during the forecast period 2023-2030.
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Digital therapy provides patients with evidence-based therapeutic interventions. It is provided with software and devices designed to manage or treat medical conditions. Digital therapy software can be used alone or in conjunction with another device, medication or treatment to achieve patient treatment and health outcomes. The design, clinical validation, usability and data security of digital therapies are based on state-of-the-art technology according to best practices.
These products have been tested and approved by regulatory authorities before use. In addition, digital therapies provide patients, healthcare providers and payers with smart, easy-to-use tools to treat a variety of diseases through interventions such as high-quality, safe and effective evidence-based cards.
The increase in the use of smartphones and tablets and health applications, the need to control healthcare costs, significant benefits to the entire process of treatment and the increase in the incidence of chronic diseases are driving the growth of the global digital therapy market. The major factors driving the market growth are the increase in the incidence of preventable chronic diseases and the increase in public health funding.
Companies Profiled of Digital Therapeutics (DTx) market:
Omada Health, Inc., Welldoc, Inc, Kaia Health, 2MORROW, Inc., Proteus Digital Health, Inc., Akili Interactive Labs, Inc., Pear Therapeutics, Inc., Resmed, Inc. (Propeller Health), Fitbit, Inc. (Twine Health, Inc.), Click Therapeutics, Inc., Livongo Health, Inc., Voluntis, Inc., Medtronic Plc., Happify, Inc., Canary health, Noom, Inc., HYGIEIA, DarioHealth Corp., BigHealth, GAIA AG, Limbix Health, Inc.
Key Findings
· The Product segment is further fragmented into Software and Devices. The software segment is the largest and fastest growing segment that dominated the market and is expected to continue this trend during the forecast period due to continuous improvement of firmware and device software’s.
· The Sales Channel segment is further bifurcated into Business-to-Business and Business-to-Consumers. The business-to-consumers segment is the largest and the fastest growing segment which exhibited the highest growth and is expected to continue this trend during the forecast period.
· The Application segment is further bifurcated into Diabetes, Obesity, Cardiovascular Disease (CVD), Central Nervous System (CNS), Disease Respiratory Disease, Smoking Cessation, Gastrointestinal Disorder (GID) and Others. The diabetes segment dominated the market with the largest market share.
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The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
Recent Developments:
· In February 2022, DynamiCare Health Inc., a digital therapeutics and telehealth company received Breakthrough Device Designation for DCH-001 from the United States Food and Drug Administration (FDA).
· In May 2021, Eli Lilly and Company signed strategic international agreements with four companies to advance connected solutions and streamline diabetes care management for individuals living with the disease outside of the United States.
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In addition to the market data for the Digital Therapeutics (DTx) Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
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