Soaring Demand Set to Propel Digital Therapeutics Market to $30.04 Billion by 2029

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What Is the Expected CAGR for the Digital Therapeutics Market Through 2025?
In the past few years, we've observed a significant expansion in the size of the digital therapeutics market. The projections indicate an increase from $8.73 billion in 2024 to $10.99 billion in 2025, boasting a compound annual growth rate (CAGR) of 25.9%. Factors contributing to this growth in the historic period include an aging population and increasing prevalence of chronic diseases, the adoption of digital health solutions, concern over healthcare costs and efficiency, the rise of remote patient monitoring, as well as the demand driven by the pandemic.

What's the Projected Size of the Global Digital Therapeutics Market by 2029?
The market for digital therapeutics is set to experience substantial growth in the coming years, with projections indicating a rise to a value of $30.04 billion in 2029, which represents a compound annual growth rate of 28.6%. The growth anticipated over the forecast period can be ascribed to an increasing preference for personalized medicine, the interchange of health data, value-based healthcare models, an uptick in attention to mental health and well-being, healthcare equity and accessibility, strengthening cybersecurity and data protection measures, and a rising demand for population health management. Key trends expected during this timeframe include the proliferation of IoT devices and sensors, advancements in artificial intelligence in the health sector, growing utilization of wearable health technology, technological innovations, and introduction of innovative products.

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Top Growth Drivers in the Digital Therapeutics Industry: What's Accelerating the Market?
The enhanced usage of smartphones and tablets, when combined with healthcare applications, is poised to propel the expansion of the digital therapeutics market during the projection period. The benefits of healthcare apps on smartphones and tablets are plentiful, including a reduced rate of medication errors, fostering preventive care, and improved staffing accuracy. For example, the Groupe Speciale Mobile Association (GSMA), a UK-based non-profit organization, reported in their State of Mobile Internet Connectivity Report 2023 that over half the global population (54%) owned a smartphone in 2022. Therefore, the surge in smartphone usage fuels the growth of the digital therapeutics market.

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What Trends Will Shape the Digital Therapeutics Market Through 2029 and Beyond?
The rise of technological innovation is a notable trend in the digital therapeutics market, with leading enterprises concentrating on the creation of cutting-edge digital therapeutic solutions to consolidate their standing. For instance, Click Pharmaceuticals, a prescription digital therapeutics enterprise based in the US, and Boehringer Ingelheim, a pharmaceutical organization from Germany, have collectively embarked on a project to develop and market a digital medication with an estimated value exceeding $500 million for patients suffering from schizophrenia. According to the firm, the digital medication, dubbed CT-155, will be a mobile app built on Click's technological framework.

What Are the Main Segments in the Digital Therapeutics Market?
The digital therapeutics market covered in this report is segmented -

1) By Product: Software, Devices
2) By Sales Channel: Business-To-Business (B2B), Business-To-Consumers (B2C)
3) By Application: Preventive Applications, Treatment Or Care-Related Applications

Subsegments:
1) By Software: Mobile Applications, Web-Based Platforms, Digital Therapeutics Software
2) By Devices: Wearable Devices, Biosensors, Digital Therapeutic Devices

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Which Top Companies are Driving Growth in the Digital Therapeutics Market?
Major companies operating in the digital therapeutics market include Omada Health Inc., WellDoc Inc., 2Morrow Inc., Propeller Health, Pear Therapeutics, Canary Health Inc., Noom 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.

Which Regions Will Dominate the Digital Therapeutics Market Through 2029?
North America was the largest region in the digital therapeutics market in 2024. The Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital therapeutics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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