Digital Therapeutics Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Omada Health Inc., WellDoc Inc., 2Morrow Inc., Livongo Health, Propeller Health

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2270

The Business Research Company offers in-depth market insights through Digital Therapeutics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The digital therapeutics market size has grown exponentially in recent years. It will grow from $7.05 billion in 2023 to $8.93 billion in 2024 at a compound annual growth rate (CAGR) of 26.7%. The growth in the historic period can be attributed to aging population and chronic diseases, digital health adoption, healthcare costs and efficiency, remote patient monitoring, and pandemic-induced demand
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The digital therapeutics market size is expected to see exponential growth in the next few years. It will grow to $23.49 billion in 2028 at a compound annual growth rate (CAGR) of 27.4%. The growth in the forecast period can be attributed to increasing adoption of personalized medicine, health data interoperability, value-based care models, increasing mental health and well-being focus, healthcare access and equity, growing cybersecurity and data protection, growing demand for population health management. Major trends in the forecast period include expansion of iot devices and sensors, artificial intelligence in healthcare, wearable health technology, technological advancements, and product innovations.

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Market Segmentation:
The main product types of digital therapeutics are devices and software. Digital therapeutics devices provide intervention to prevent, manage or treat a disease or medical disorder. This includes devices such as sensors used to track medication usage and location data. The different sales channels include business-to-business (B2B), business-to-consumer (B2C). Digital therapeutics are used in preventive applications and treatment or care-related applications.

Major Driver - Smartphone And Tablet Use Fuels Growth In The Digital Therapeutics Market
The increase in use of smartphones and tablets, coupled with healthcare apps, is expected to propel the growth of the digital therapeutics market in the forecast period. Smartphones and tablet-based healthcare apps have numerous advantages over the lower rate of medication errors, facilitating preventive care, and more accurate staffing. For instance, according to the State of Mobile Internet Connectivity Report 2023 by Groupe Speciale Mobile Association (GSMA), a UK-based non-profit organization, in 2022, more over half of the world's population (54%) possess a smartphone. Therefore, the increasing use of smartphones drives the growth of the digital therapeutics market.

Competitive Landscape:
Major companies operating in the digital therapeutics market include Omada Health Inc., WellDoc Inc., 2Morrow Inc., Livongo Health, Propeller Health, Pear Therapeutics, Canary Health Inc., Noom Health Inc., Mango Health Inc., Akili Interactive Labs, Better Therapeutics, Happify Health, Kaia Health, Medtronic plc, Teladoc Health Inc., Fitbit Health Solutions, EMulate Therapeutics, BigHealth, DarioHealth, IQVIA, JOGO Health, SilverCloud Health, Biofourmis Inc., Prosoma, Virta Health Corp., One Drop Inc., Lark Health, Riva, Xealth, CogniFit Ltd.

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Top Trend - Technological Innovation Gaining Popularity In The Digital Therapeutics Market
Technological innovation is an emerging trend gaining popularity in the digital therapeutics market. Major companies operating in the market are focused on developing technologically advanced solutions for digital therapeutics to strengthen their position. For instance, Boehringer Ingelheim, a Germany-based pharmaceutical company, and Click Pharmaceuticals, a US-based prescription digital therapeutics business, have agreed to collaborate on the development and commercialization of a digital medication for schizophrenia patients worth more than $500 million. The treatment named CT-155 will be a mobile app developed on click's technology platform, according to the company.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Digital Therapeutics Market Characteristics
3. Digital Therapeutics Market Trends And Strategies
4. Digital Therapeutics Market - Macro Economic Scenario
5. Digital Therapeutics Market Size And Growth
…..
27. Digital Therapeutics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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