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Digital Therapeutics Market Projections Point to $17.7 Billion in 2027 – Recent Innovations and Upcoming Trends Analysis

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Digital Therapeutics Market Projections Point to $17.7 Billion in 2027 – Recent Innovations and Upcoming Trends Analysis

October 06
05:08 2023
Digital Therapeutics Market Projections Point to $17.7 Billion in 2027 – Recent Innovations and Upcoming Trends Analysis
Browse 190 market data Tables and 33 Figures spread through 231 Pages and in-depth TOC on “Digital Therapeutics Market – Global Forecasts to 2027
Digital Therapeutics (DTx) market in terms of revenue was estimated to be worth $4.5 billion in 2022 and is poised to reach $17.7 billion by 2027, growing at a CAGR of 31.6% from 2022 to 2027 according to a latest report published by MarketsandMarkets™.

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. Increasing prevalence of chronic diseases, developments in digital therapeutics to curb growing healthcare costs and government initiatives to support the digital therapeutics are driving the market growth.

To know about the assumptions considered for the study download the pdf brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=51646724

The digital therapeutics market encompasses the utilization of digital technology, such as software applications and mobile platforms, to deliver medical treatments and interventions for a diverse range of health conditions. These interventions, known as digital therapeutics, are evidence-based and aim to prevent, manage, or treat various medical conditions.

Here are some key points about the digital therapeutics market:

Diverse Applications: Digital therapeutics can be applied to a wide range of health conditions, including diabetes, cardiovascular disease, mental health disorders, substance use disorders, chronic obstructive pulmonary disease (COPD), and more.

Evidence-Based: Digital therapeutics are typically developed based on rigorous scientific and clinical research.

Remote Monitoring and Engagement: Many digital therapeutics solutions include remote monitoring capabilities, which allow healthcare providers to track patients’ progress and make real-time adjustments to their treatment plans.

Regulation: Various regulatory bodies, such as the U.S. Food and Drug Administration (FDA), have established guidelines and regulations for digital therapeutics.

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Key Market Players

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).

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.

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.

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.

North America is expected to hold the largest share of the digital therapeutics Market

North America is expected to hold the largest share of this market, followed by Europe. The market in North America is also expected to grow at the highest CAGR. The large share can be attributed to the rising number of new start-ups in digital therapeutics market and slowly developing reimbursement structures for digital therapeutics solutions.

Digital Therapeutics Market Dynamics

Driver: Need to control healthcare costs

Opportunity: Unexplored therapeutic applications

Restraint: Patient data security concerns

Challenge: Unstable payment Models

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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