Dublin, Aug. 16, 2021 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global digital therapeutics market is projected to reach USD 13.1 billion by 2026 from USD 3.4 billion in 2021, at a CAGR of 31.4%.
Digital therapeutics market is segmented into preventive and treatment/care-related applications. 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 diabetes segment is expected to dominate the market.
Based on the type of treatment/care-related application, the digital therapeutics market is further segmented into diabetes, CNS disorders, chronic respiratory diseases, musculoskeletal disorders, cardiovascular diseases, smoking cessation, medication adherence, gastrointestinal disorders, substance use disorders & addiction management, rehabilitation & patient care, and other treatment/care-related applications.
Diabetes commanded the largest share of 19.0% of the digital therapeutics market for treatment/care-related applications in 2020. The growing prevalence of diabetes, high healthcare costs associated with diabetes, and increasing government initiatives to reduce the burden with the help of cost-effective solutions are expected to drive the market growth in this segment.
B2B segment is expected to grow at the highest CAGR 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). 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.
North America to be the largest and the fastest-growing regional market.
North America, which comprises the US and Canada, forms the largest market for digital therapeutics. Factors such as the influx of new startups, 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.
Premium Insights
- Increasing Incidence of Chronic Diseases & Technological Advancements are Driving the Adoption of Digital Therapeutics
- B2B Sales Dominate the Digital Therapeutics Market
- North America is the Fastest-Growing Market for Digital Therapeutics
Market Dynamics
Drivers
- Increasing Incidence of Preventable Chronic Diseases
- Rising Focus on Preventive Healthcare
- Need to Control Healthcare Costs
- Significant Increase in Venture Capital Investments
- Benefits of Digital Therapeutics
- Ability to Induce Behavioral Change
- Improved Drug Adherence
- Patient Convenience and User-Friendliness
Restraints
- Patient Data Privacy Concerns
Opportunities
- Emerging Markets
- Large Undiagnosed and Untreated Population
- Unexplored Therapeutic Applications
Challenges
- Unstable Payment Models
- Reluctance Among Patients to Adopt Digital Therapeutics
- Lack of Awareness and Access to Digital Therapeutics Programs in Developing Countries
- Resistance from Traditional Healthcare Providers
Competitive Landscape
- Market Ranking Analysis, 2021
- Company Evaluation Matrix
- Competitive Scenario
Company Profiles
- 2Morrow, Inc.
- Akili Interactive Labs, Inc.
- Ayogo Health
- Behavr Inc.
- Better Therapeutics
- Canary Health
- Click Therapeutics
- Cognifit
- Cognoa, Inc.
- Doktor.Se
- Ginger
- Happify
- Hinge Health
- Kaia Health
- Livongo Health
- Mango Health, Inc.
- Mindable Health
- Mindstrong Health
- Noom, Inc.
- Omada Health
- Pear Therapeutics
- Propeller Health
- Virta Health
- Welldoc
- Wellthy Therapeutics
For more information about this report visit https://www.researchandmarkets.com/r/rdqsvv
