Digital Therapeutics and Wellness Market Will Grow at a 20.41% CAGR by 2028: Expand with Growing Emphasis on Digital Health Solutions

Market Overview:
The Global Digital Therapeutics And Wellness Market Was Valued At USD 4.14 Billion In 2021 And Is Expected To Reach USD 15.50 Billion By The Year 2028, At A CAGR Of 20.41%.

The Digital Therapeutics Alliance defines the term "digital therapeutics" (DTx) as technologies that provide patients with evidence-based therapeutic engagement when they use top-notch software to prevent, manage, or treat a medical condition or illness. Digital therapies are different from digital pharmaceuticals, sometimes known as "smart pills," which combine a prescription drug with an ingestible sensor and use that communication to track compliance with a computer program. The relevance of digital therapeutics and wellness in healthcare has increased as a result of advancements in these fields and the increasingly dominating roles that mobile technology and artificial intelligence (AI) play in our daily lives.

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Market Dynamics:
Driver:
The pandemic has led to a rise in the use of virtual care in international remote and home healthcare markets. New cloud-based systems offer online diagnosis and consultation as Digital Therapeutics interventions are frequently provided through smartphones, tablets, or IoT devices. To develop a simplified solution and consulting systems that can be offered to a bigger audience for the treatment of chronic illnesses and mental health therapies, many blue ocean enterprises are start-ups investing in AI-based digital platforms. Such a medical issue necessitates a significant and prompt reaction from the medical professional, which is unquestionably the major driver propelling the expansion of the digital therapeutic and wellness markets.

Opportunities:
The technological revolution in how digital tools and devices are incorporated into daily life offers a chance to develop platforms and solutions that combine digital health as mobile technology, artificial intelligence, and IoT devices become more and more prevalent in daily life. These market developments provide an excellent opportunity for firms that specialize in digital therapies and wellness to incorporate cutting-edge technologies like wearable technology, artificial intelligence, electronic health records, virtual visits, mobile health, and virtual visits into their existing product lines.

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Segmentation Analysis of Digital Therapeutics and Wellness Market:
Depending on device type, the blood pressure monitor segment is forecasted to have the highest share of the digital therapeutics and wellness market. Blood pressure should be monitored because long-term high blood pressure can damage arteries and the heart. It is feasible to assess if drugs are needed or effective by measuring blood pressure. Home usage digital blood pressure monitors are not only designed to check blood pressure but also measures pulse rate, and can detect an irregular heartbeat

Depending on the technology, cellular technology is anticipated to lead the growth of the digital therapeutics and wellness market in the analyzed period. Telemedicine/Telehealth and mHealth are the two main categories developed due to the advancement in cellular technology. With the growing usage of mobile devices (e.g., smartphones, tablets) in everyday lives, people have the ability to communicate and share information faster than ever before.

Depending on end-use, the obesity weight loss segment is expected to dominate the digital therapeutics and wellness market during the projected timeframe. The usage of a digital therapeutics platform in people with obesity and metabolic syndrome can lead to a reduction in both weight and body mass index (BMI), this reduces the likelihood of comorbidities, according to research presented at the American Association of Clinical Endocrinologists' 30th Annual Scientific and Clinical Congress. Clinicians can use digital therapeutic platforms to provide lifestyle-modification therapies remotely.

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By Type
• Scales
• Blood Pressure Monitors
• Blood Glucose Monitoring System
• Others

By Technology
• Cellular Technology
• VR
• Others

By End Use
• Cardiovascular Disease & Hypertension
• Diabetes & Prediabetes
• Obesity & Weight Loss
• Smoking Cessation
• Others

Regional Analysis of Digital Therapeutics and Wellness Market:
The North American region is expected to have the lion's share of the digital therapeutics and wellness market throughout the forecast period. According to Bigfoot Biomedical Inc, approximately 2 million individuals in America utilize continuous glucose monitoring devices (CGM) to monitor their glucose levels. These devices check the blood glucose at specific intervals and then depending on the level of insulin automatically pump insulin or alert the wearer to take an insulin shot. The growing popularity of CGM devices along with other digital equipment among individuals is strengthening the expansion of the digital therapeutics and wellness market in this region.

• North America
o US
o Canada
o Mexico

• Eastern Europe
o Bulgaria
o The Czech Republic
o Hungary
o Poland
o Romania
o Rest of Eastern Europe

• Western Europe
o Germany
o UK
o France
o Netherlands
o Italy
o Russia
o Spain
o Rest of Western Europe

• Asia Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Thailand
o Vietnam
o The Philippines
o Australia
o New Zealand
o Rest of APAC

• Middle East & Africa
o Turkey
o Bahrain
o Kuwait
o Saudi Arabia
o Qatar
o UAE
o Israel
o South Africa

• South America
o Brazil
o Argentina
o Rest of SA

Recent Industry Developments In Digital Therapeutics and Wellness Market
In April 2021, OMRON launched Hypertension Plus, a remote patient monitoring service for hypertension, for its customers in the UK. This service generates a customized blood pressure management and medication plan for each patient using blood pressure readings taken at home to help enhance the efficiency of clinical practices.
In March 2021, ResMed acquired Tong-il, sleep and respiratory care HME provider based in South Korea, strengthening commitment and capability to serve South Korean patients suffering from sleep apnea, COPD, and other chronic respiratory diseases.
In January 2021, A&D company Limited Launched A&D Borealis BA-T/BA Series premium level micro and semi microbalances which provide the super precision weighing solution for various laboratory requirements.

Players Covered in Digital Therapeutics and Wellness Market are:
• Proteus Digital Health
• Omada Health
• Welldoc
• A&D
• Omron
• Qardio
• Virgin Pulse
• Livongo Health
• Noom
• Ginger
• Propeller Health
• 2morrow
• Canary Health
• Mango Health
• My mHealth
• Glytec
• Proteus
• Vida Health
• Blue Mesa Health And Other Major Players

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