Digital Therapeutics Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Digital Therapeutics Market
The digital therapeutics market size was valued at USD 6.77 billion in 2023, and the market is now projected to grow from USD 8.28 billion in 2024 to USD 43.88 billion by 2032, exhibiting a CAGR of 23.2% during the forecast period of 2024-2032.
A COVID-19 pandemic was a significant issue on a digital therapeutics market growth as the spread of the coronavirus infection was considered an emergency. The impact of COVID-19 on the development of the global DTx market industry can be fantastic in the forecast period. Consequently, the future forecasting requirement and the opportunity to cure at home significantly increased due to quarantine-related COVID-19 pandemic outbreak constraints in the sector.
The global digital therapeutics market share has been increased through the market share contributed due to the increasing cases of chronic disease. Electronic therapeutics market: a number of factors such as the increased pace of the demand for the management and cure of chronic conditions globally pushes the use of therapeutic software and devices.
Additionally, there is a clear history of innovation of these products, with more incorporation of technology. They are helping the healthcare specialists to record and scan medical information frequently and provide more effective treatments for their patients. The outstanding-general performance potentials within the merchandise are a superb aid towards the healthcare industry.
Comprehensive Analysis of Digital Therapeutics Market
The digital therapeutics market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the healthcare industry. These segmentations are methodically segregated by types of type, application, treatment, and sales channel. The sales channel types include, B2B, and B2C. However, the application is such as prevention and treatment.
The North American region is conducive to the global digital therapeutics market, leading to a recall of USD 3.21 billion owing to growing number of cases of patients suffering from chronic diseases. Moreover, more and more collaborations and agreements among the key gamers to be conscious of the research and improvement of these gadgets are predicted to grow with the advent of these gadgets within the region.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Omada Health Inc. (U.S.), JOGOHEALTH (U.S.), Fitbit Health Solutions (U.S.), Welldoc, Inc. (U.S.), CANARY HEALTH (U.S.), CureApp, Inc. (Japan), Propeller Health (U.S.), Brain+ A/S (Denmark), GAIA AG (Germany), and Pear Therapeutics, Inc. (U.S.) these market players provide a level-playing competitive landscape.
In January 2023, Lupin, a wholly-owned subsidiary of Lupin Limited, announced the release of its therapeutic solution, LYFE. LYFE is India’s handiest proof-based holistic heart care program that considerably reduces the danger of a coronary heart attack and improves vitals and quality of life for cardiac patients.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 23.2% from 2024-2032
Unit Value (USD billion)
Segmentation By Type
Devices
Software & Services
By Application
Preventive
Prediabetes
Obesity
Others
Treatment
Diabetes
Respiratory Care
Mental Health
Cardiovascular
Others
By Sales Channel
B2B
B2C
By Region
North America (By Type, By Application, By Sales Channel, By Country)
U.S.
Canada
Europe (By Type, By Application, By Sales Channel, By Country/sub-region)
U.K.
Germany
France
Italy
Spain
Rest of Europe
Asia Pacific (By Type, By Application, By Sales Channel, By Country/sub-region)
Japan
China
India
Australia
Rest of Asia Pacific
Rest of the World ( By Type, By Application, By Sales Channel )
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