According to Reports and Insights analysis, the digital therapeutics market was US$ 4.3 Billion in 2022. Furthermore, the digital therapeutics market to register a CAGR of 16.8% which is expected to result in a market forecast value for 2031 of US$ 18.7 Bn.
Market Scenario
The digital therapeutics market is segmented by application, type, end user, and region. By application, the market is segmented into mental health, diabetes, cardiovascular diseases, respiratory diseases, neurological disorders, rehabilitation and patient care, oncology, and other applications. The mental health segment is expected to dominate the market during the forecast period, due to the increasing prevalence of mental health disorders such as depression, anxiety, and substance abuse.
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By type, the market is segmented into software and services. The software segment is expected to dominate the market during the forecast period, due to the increasing demand for digital therapeutic solutions that can be delivered over the internet.
By end user, the market is segmented into patients, providers, payers, and employers. The patients segment is expected to dominate the market during the forecast period, due to the increasing adoption of digital health technologies by patients.
Key Players
The key players in the digital therapeutics market include:
- Pear Therapeutics
- Livongo Health
- Omada Health
- Big Health
- WellDoc
- Proteus Digital Health
- Mindstrong Health
- Click Therapeutics
- Cognito Therapeutics
- Akili Interactive
- PatientsLikeMe
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Competitive Analysis
The digital therapeutics market is highly competitive, with a number of major players competing for market share. The key players are differentiated by their product offerings, target markets, and go-to-market strategies.
Recent Developments
The digital therapeutics market is evolving rapidly, with new products and services being launched on a regular basis. Some of the recent developments in the market include:
- The FDA approval of Pear Therapeutics’ reSET/reSET-O digital therapeutic for the treatment of substance abuse disorder.
- The launch of Livongo Health’s remote patient monitoring platform for people with diabetes.
- The acquisition of Omada Health by Verily, a subsidiary of Alphabet.
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Market Outlook
The digital therapeutics market is expected to continue to grow in the coming years, driven by the increasing prevalence of chronic diseases, the rising demand for personalized and affordable care, and the growing adoption of digital health technologies.
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