Digital Therapeutics Market trends 2023: Upcoming Opportunities with Noom, Inc (US), Teladoc Health, Inc. (US), Omada Health, Inc. (US), WellDoc, Inc (US), Pear Therapeutics, Inc. (US), CogniFit Inc (US), Ginger (US)

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.

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Digital therapeutics is emerging as the new generation of digital healthcare that implements treatment programs to specific infirmity such as diabetes, heart disease, high blood pressure and pulmonary diseases like COPD.

The study involved four major activities in estimating the current size of the global digital therapeutics market. Exhaustive secondary research was conducted to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing values with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Key Market 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).

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

The digital therapeutics market has been segmented into four main regional segments: North America, Europe, the Asia Pacific, and Rest of the World. North America is expected to hold the largest share of this market, followed by Europe in 2022. The market in North America is also expected to grow at the highest CAGR

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This study categorizes the global digital therapeutics market to forecast revenue and analyze trends in each of the following submarkets:

By Sales Channel
• B2C
• Patients
• Caregivers
• B2B
• Providers
• Payers
• Employers
• Pharmaceutical Companies
• Other Buyers

By Application
• Preventive Applications
• Treatment/Care-related Applications

By Region
• North America
• Europe
• APAC
• Rest of the World (RoW)

Recent Developments:

• Philips and Wellbeing Digital Solutions: In April 2021, Philips announced the acquisition of Wellbeing Digital Solutions (WDS). WDS is a digital therapeutics company that develops digital solutions to improve patient engagement and outcomes in chronic conditions. The acquisition will allow Philips to expand its portfolio of digital health solutions and capabilities in chronic disease management and remote care.

• Novartis and Akili Interactive Labs: In June 2021, Novartis announced that it has entered into a definitive agreement to acquire Akili Interactive Labs, a digital therapeutics company focused on developing treatments for neurological and psychological conditions. Through the acquisition, Novartis will gain access to Akili's digital therapeutics platform, which includes a library of clinical evidence and a portfolio of digital therapeutics programs in development.

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Read More : https://www.globenewswire.com/en/news-release/2022/11/30/2564954/0/en/At-31-6-CAGR-The-Digital-Therapeutics-Market-worth-17-7-billion-by-2027-Exclusive-Report-by-MarketsandMarkets.html

https://www.prnewswire.com/news-releases/digital-therapeutics-dtx-market-worth-17-7-billion-by-2027---exclusive-report-by-marketsandmarkets-301656925.html

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