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Digital Therapeutics Market worth USD 13.1 billion by 2026 : Patient convenience and user-friendliness

 



(Medical-NewsWire.com, January 08, 2022 ) The Growth in this DTx market is primarily driven by the increasing incidence of preventable chronic diseases, the need to control healthcare costs, rising focus on preventive healthcare, and rising investments in digital therapeutics. On the other hand, a lack of awareness and access to digital therapeutics programs in developing countries, resistance from traditional healthcare providers, and unstable payment models are challenging the growth of this market.



According to the new market research report “Digital Therapeutics (DTx) Market by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel (B2C, Patient, Caregiver, B2B, Providers, Payer, Employer, Pharma) – Global Forecasts to 2026″, published by MarketsandMarkets™, the Global DTx Market is projected to reach USD 13.1 billion by 2026 from USD 3.4 billion in 2021, at a CAGR of 31.4% during the forecast period.



Browse in-depth TOC on “Digital Therapeutics (DTx) Market”



157 – Tables

27 – Figures

204 – Pages



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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.



Treatment/care-related applications form the largest segment of the market, by application.



Based on application, the digital therapeutics market is segmented into preventive and treatment/care-related applications. The treatment/care-related applications segment held the largest share of 82.3% of this market in 2020. The large share of this segment is attributed to the growing incidences of chronic diseases, the rising economic burden of their treatment, and investments in digital therapeutics to encourage the development of cost-effective and scalable treatment platforms for these conditions.



The B2B segment is the largest and fastest-growing segment of the market during the forecast period.



Based on the sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B). In 2020, the B2B segment accounted for the largest share of 86.3% of the market. This is attributed to growing awareness among providers, payers, and employers about the benefits of digital therapeutics and the inclination of pharmaceutical companies to integrate digital therapeutics with their drug products.



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North America commanded the largest share of the digital therapeutics market in 2020.



In 2020, North America held the largest share of the DTx Market, followed by Europe. The market in North America is also expected to grow at the highest CAGR of 32.2%. Factors such as the influx of new start-ups, increasing investments in digital therapeutics, improvements in the reimbursement structure for digital therapeutics, and government initiatives to support technological advancements drive market growth in this region.



Prominent players in the digital therapeutics market include Noom (US), Livongo Health (US), Omada Health (US), WellDoc (US), Pear Therapeutics (US), Proteus Digital Health (US), Propeller Health (US), Akili Interactive Labs (US), Better Therapeutics (US), Happify (US), Kaia Health (Germany), Mango Health (US), Click Therapeutics (US), Canary Health (US), Wellthy Therapeutics (India), Cognoa (US), CogniFit (US), Ayogo Health (Canada), Mindstrong Health (US), 2Morrow (US), and Ginger (US).



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About MarketsandMarkets™



MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.



Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.



MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.



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