Global Digital Therapeutics Market Was Valued At US$ 5.66 Billion In 2023 Astute Analytica

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Digital Therapeutics market is on a robust growth trajectory, with significant advancements in technology and increasing adoption driving the expansion.

CHICAGO, CA, UNITED STATES, September 17, 2024 /EINPresswire / -- The global digital therapeutics market is experiencing unprecedented growth, having been valued at US$ 5.66 billion in 2023. According to the latest market analysis, this dynamic sector is anticipated to exceed US$ 36.47 billion by 2032, reflecting a compound annual growth rate (CAGR) of 23.0% over the forecast period from 2024 to 2032.

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Digital therapeutics (DTx) are at the forefront of revolutionizing healthcare by delivering evidence-based therapeutic interventions through digital platforms. This surge in market value is driven by the increasing adoption of digital health solutions, advancements in technology, and a growing emphasis on personalized medicine. DTx offers innovative approaches to managing chronic diseases, mental health conditions, and other health challenges, thereby enhancing patient outcomes and optimizing healthcare delivery.

Market Dynamics

Driver: High Prevalence of Chronic Diseases and the Demand for Digital Therapeutics

One prominent factor driving the global demand for digital therapeutics market is the dramatic rise in chronic diseases. The escalating prevalence of conditions such as diabetes, cardiovascular diseases, and mental health disorders has created an urgent need for innovative and scalable treatment solutions. Digital therapeutics, offering evidence-based therapeutic interventions delivered through digital platforms, are at the forefront of addressing this challenge. The World Health Organization reports that non-communicable diseases (NCDs), primarily chronic diseases, account for 71% of all global deaths annually. Specifically, cardiovascular diseases are the leading cause of death worldwide, claiming 17.9 million lives each year. Diabetes prevalence has also soared, with an estimated 422 million people living with the condition globally, reflecting an increase from 108 million in 1980. Mental health conditions are not far behind, affecting 264 million individuals globally with depression alone.

The burden of chronic diseases extends beyond health implications. Thus, flourishing demand for digital therapeutics market. It also poses a significant economic challenge. The global economic impact of diabetes is estimated at $1.3 trillion, or 1.8% of the global gross domestic product (GDP). Similarly, mental health conditions are projected to drain $16 trillion from the global economy by 2030. These figures highlight not only the scale of the health crisis but also the economic imperative to find effective treatment strategies. Digital therapeutics emerge as a powerful solution in this context. By leveraging technology, they can provide personalized treatment, improve patient engagement, and reduce healthcare costs. Adoption has been further accelerated by COVID-19 which highlighted how important remote care services were needed. A report by Astute Analytica, predicts that by 2025, digital therapeutics will have increased from having just over 34 million users to more than double.

List of Key Companies Profiled:

.2MORROW, Inc.
.Akili Interactive Labs, Inc.
.Click Therapeutics, Inc.
.Fitbit, Inc. (Twine Health, Inc.)
.Happify, Inc.
.Kaia Health
.Livongo Health, Inc.
.Medtronic Plc.
.Omada Health, Inc.
.Pear Therapeutics, Inc.
.Proteus Digital Health, Inc.
.Resmed, Inc. (Propeller Health)
.Voluntis, Inc.
.Welldoc, Inc.
.Other Prominent Players

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Market Segmentation Overview

Following are the different segments of the Global Digital Therapeutics (DTx) Market:

By Component:

.Hardware
.Software
.Services

By Application:

.Preventive Applications
oPrediabetes
oObesity
oNutrition
oLifestyle Management
oOthers
.Treatment/Care-related Applications
oDiabetes
oCNS Disorders
oMental Health Disorder
oOther CNS Disorders
oChronic Respiratory Disorders
oMusculoskeletal Disorders
oCardiovascular Diseases
oSmoking Cessation
oMedication Adherence
oGastrointestinal Disorders
oSubstance Use & Addiction Management
oRehabilitation & Patient Care

By Sales Channel:

.Business-to-business (B2B)
oEmployer
oHealthcare Provider
oPayers
oPharmaceutical Companies
oOthers
.Business-to-consumer (B2C)
oPatient
oCaregiver

By Region:

.North America
oThe U.S.
oCanada
oMexico

.Europe

oThe UK
oGermany
oFrance
oItaly
oSpain
oPoland
oRussia
oRest of Europe

.Asia Pacific

oChina
oIndia
oJapan
oAustralia & New Zealand
oASEAN
oRest of Asia Pacific

.Middle East & Africa (MEA)

oUAE
oSaudi Arabia
oSouth Africa
oRest of MEA

.South America

oArgentina
oBrazil
oRest of South America

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About Astute Analytica:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyse for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
+ +1 888-429-6757
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