Dublin, June 26, 2024 (GLOBE NEWSWIRE) -- The "Digital Therapeutics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2024 to 2032" report has been added to ResearchAndMarkets.com's offering.
The global digital therapeutics market is expected to witness a CAGR of 32.1% during the forecast period of 2024 to 2032, driven by the increasing burden of chronic diseases, the imperative to curb rising healthcare costs and ongoing technological advancements. However, regulatory challenges pose a notable restraint, necessitating collaborative efforts for streamlined validation processes.
Market segmentation reveals distinct trends in application focus, end-use preferences, and sales channel dynamics. Preventive applications are poised for significant growth, indicating a shift towards proactive healthcare management. Payers play a pivotal role in revenue generation, while employers emerge as a segment with high growth potential. B2C channels are expected to experience substantial growth, reflecting direct engagement between providers and end-users.
Study Coverage
This study represents an analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The report comprises quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends & technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
By Application: Treatment/Care-Related Applications Dominate the Market
The market is segmented based on application categories, including Preventive Applications and Treatment/Care-related Applications. In 2023, the highest revenue was generated from Treatment/Care-related Applications, reflecting the growing adoption of digital therapeutics as complementary tools in the treatment landscape. However, the segment with the highest Compound Annual Growth Rate (CAGR) during the forecast period of 2024 to 2032 is expected to be Preventive Applications, indicating a shift towards proactive healthcare management and preventive interventions.
By End-use: Payers Dominate the Market
Another crucial segmentation is based on end-use categories, including Patients, Providers, Payers, Employers, and Others. In 2023, the highest revenue was attributed to Payers, emphasizing the role of insurance providers and healthcare payers in driving the adoption of digital therapeutics. However, the segment with the highest CAGR during the forecast period is expected to be Employers, highlighting the increasing focus on employee well-being and corporate wellness programs.
By Sales Channel: B2B Channels Dominate the Market
The market is further segmented by sales channels, including B2C (Patients and Caregivers) and B2B (Providers, Payers, Employers, Pharmaceutical Companies, and Other Buyers). In 2023, the highest revenue was generated from B2B channels, showcasing the significance of institutional adoption and partnerships. However, the segment with the highest CAGR during the forecast period is expected to be B2C, indicating a growing trend of direct engagement between digital therapeutics providers and end-users.
North America Leads in Revenue and CAGR
Geographically, North America leads in both revenue and CAGR, with a well-established healthcare ecosystem and early adoption of digital therapeutics. The Asia-Pacific region presents a high CAGR, driven by increasing healthcare investments and a growing awareness of digital health solutions. Competitive trends highlight the pivotal roles played by key players, including Pear Therapeutics, Omada Health, and Akili Interactive, each contributing to the market's dynamism with unique strategies. As the market progresses from 2024 to 2032, stakeholders can anticipate a vibrant landscape marked by innovation, strategic collaborations, and the continued integration of digital therapeutics into mainstream healthcare practices.
Market Competition to Intensify
In the realm of digital therapeutics, key players such as Pear Therapeutics, Omada Health, Akili Interactive, Welldoc, Inc., 2Morrow, Inc, Livongo Health, Inc. (Teladoc Health, Inc.), Propeller Health (ResMed), Fitbit LLC, Mango Health, Canary Health, Noom, Inc., Hygieia, DarioHealth Corp., BigHealth, Gaia AG, and Limbix Health, Inc. have emerged as frontrunners, each adopting distinct strategies to navigate the evolving market. These companies are expected to play pivotal roles from 2024 to 2032, with their 2023 revenues reflecting past successes and strategies geared toward anticipated growth.
Key Questions Answered
- What are the key micro and macro environmental factors that are impacting the growth of Digital Therapeutics market?
- What are the key investment pockets concerning product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2032.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Digital Therapeutics market?
- Which is the largest regional market for Digital Therapeutics market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Digital Therapeutics market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Digital Therapeutics market worldwide?
Key Topics Covered
1. Preface
2. Executive Summary
3. Digital Therapeutics Market: Competitive Analysis
3.1. Market Positioning of Key Digital Therapeutics Market Vendors
3.2. Strategies Adopted by Digital Therapeutics Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2023 Versus 2032
4. Digital Therapeutics Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global Digital Therapeutics Market Value, 2022-2032, (US$ Million)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis
4.6. Porter's Five Force Model
4.6.1. Supplier Power
4.6.2. Buyer Power
4.6.3. Threat of Substitutes
4.6.4. Threat of New Entrants
4.6.5. Competitive Rivalry
4.7. PESTEL Analysis
4.7.1. Political Landscape
4.7.2. Economic Landscape
4.7.3. Technology Landscape
4.7.4. Legal Landscape
4.7.5. Social Landscape
5. Digital Therapeutics Market: By Application, 2022-2032, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2023 Versus 2032
5.3. Market Segmentation
5.3.1. Preventive Applications
5.3.2. Treatment/Care-related Applications
6. Digital Therapeutics Market: By Sales Channel, 2022-2032, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2023 Versus 2032
6.3. Market Segmentation
6.3.1. B2C
6.3.2. Patients
6.3.3. Caregivers
6.3.4. B2B
6.3.5. Providers
6.3.6. Payers
6.3.7. Employers
6.3.8. Pharmaceutical Companies
6.3.9. Other Buyers
7. Digital Therapeutics Market: By End-Use, 2022-2032, USD (Million)
7.1. Market Overview
7.2. Growth & Revenue Analysis: 2023 Versus 2032
7.3. Market Segmentation
7.3.1. Patients
7.3.2. Providers
7.3.3. Payers
7.3.4. Employers
7.3.5. Others
8. North America Digital Therapeutics Market, 2022-2032, USD (Million)
9. UK and European Union Digital Therapeutics Market, 2022-2032, USD (Million)
10. Asia Pacific Digital Therapeutics Market, 2022-2032, USD (Million)
11. Latin America Digital Therapeutics Market, 2022-2032, USD (Million)
12. Middle East and Africa Digital Therapeutics Market, 2022-2032, USD (Million)
13. Company Profiles
13.1. Pear Therapeutics
13.2. Omada Health
13.3. Akili Interactive
13.4. Welldoc, Inc.
13.5. 2Morrow, Inc.
13.6. Livongo Health, Inc. (Teladoc Health, Inc.)
13.7. Propeller Health (ResMed)
13.8. Fitbit LLC
13.9. Mango Health
13.10. Canary Health
13.11. Noom, Inc.
13.12. Hygieia
13.13. DarioHealth Corp.
13.14. BigHealth
13.15. Gaia AG
13.16. Limbix Health, Inc.
13.17. Other Notable Players
For more information about this report visit https://www.researchandmarkets.com/r/5510po
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