Digital Therapeutics Market to be Worth $42.98 Billion by 2030

Meticulous Research®, a globally recognized market research company, has unveiled a research report titled 'Global Forecast to 2030 - Digital Therapeutics Market.' According to this recent publication, the global digital therapeutics market is anticipated to reach $42.98 billion by 2030, exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 31.1%. This growth is primarily attributed to the escalating need to reduce healthcare costs, the increasing prevalence of chronic diseases, the widespread adoption of digital healthcare, and a growing emphasis on preventive healthcare. Furthermore, emerging economies and the expanding pipelines for digital therapeutic solutions across various therapy areas present significant opportunities for market growth.

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The key players operating in the global digital therapeutics market include Noom, Inc. (U.S.), 2Morrow Inc. (U.S.), GAIA AG (Germany), ResMed Inc. (U.S.), Canary Health (U.S.), Welldoc, Inc. (U.S.), DarioHealth Corp. (U.S.), Akili, Inc. (U.S.), Biofourmis Inc. (U.S.), BigHealth (U.S.), Teladoc Health, Inc. (U.S.), Limbix Health, Inc. (U.S.), Kaia Health Software Inc. (Germany), Glooko, Inc. (U.S.), and Virta Health Corp. (U.S.).

The global digital therapeutics market is categorized by Type (Disease Management and Treatment DTx and Disease Prevention DTx), Applications (Mental Health, Diabetes, Cardiovascular Diseases, Gastrointestinal Disorders, Neurology, Rehabilitation & patient care, Respiratory Disorders, Oncology, Addiction Management, Sleep Disorders, Smoking Cessation, and Other Applications), and End User (Providers, Individual Consumers, Employers, Payers, and Other End Users). The study also evaluates industry competitors and analyzes their market share at both global and regional levels.

In 2023, the disease management and treatment DTx segment are expected to account for the largest share of the digital therapeutics market. The significant market share of this segment can be attributed to the availability of cost-effective mHealth platforms, the growing need to control healthcare costs, substantial investments in digital health, and strategic collaborations among stakeholders to launch disease treatment and management digital therapeutic platforms.

The application segment of mental health is projected to hold the largest market share in 2023 due to the increasing prevalence of mental issues such as stress, anxiety, and depression. Factors contributing to the significant market share include the loss in productivity caused by mental health issues and the demand for cost-effective solutions for stress and depression management.

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The individual consumers' segment is anticipated to witness the highest Compound Annual Growth Rate (CAGR) during the forecast period. This is attributed to the increasing awareness and approvals of digital therapeutic solutions, the high adoption of mHealth platforms, and the growing trend of preventive healthcare among patients.

Geographically, North America is expected to dominate the digital therapeutics market in 2023, followed by Europe and Asia-Pacific. In North America, the U.S. is projected to hold the largest market share, primarily due to the increased usage of digital health products, a rising incidence of chronic diseases, and government initiatives supporting digital healthcare.

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Scope of the Report:

Digital Therapeutics Market Assessment, by Type

Disease Management and Treatment DTx
Disease Prevention DTx

Digital Therapeutics Market Assessment, by Application

Mental Health
Diabetes
Cardiovascular Diseases
Gastrointestinal Disorders
Neurology
Rehabilitation & Patient Care
Oncology
Respiratory Disorders
Addiction Management
Sleep Disorders
Smoking Cessation
Other Applications
(Note: Other applications include medication adherence, eyes & ear diseases, dermatology, infectious and parasitic diseases, and genitourinary diseases, among others.)

Digital Therapeutics Market Assessment, by End User

Providers
Individual Consumers
Employers
Payers
Other End Users
(Note: Other end users include pharmaceutical organizations and government institutes)

Digital Therapeutics Market Assessment, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific (APAC)
China
Japan
India
Rest of Asia-Pacific (RoAPAC)
Latin America
Brazil
Mexico
Rest of Latin America (RoLATAM)
Middle East & Africa

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/digital-therapeutics-market-5427

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

This release was published on openPR.