Digital Therapeutics Market Scope And Analysis

Report Code : TIPHC00002236
Category : Healthcare IT

Status : Published
No. of Pages : 181

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Digital Therapeutics Market Analysis, Size, and Growth (2022-2028)

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Digital Therapeutics Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 4.23 Billion
Market Size by 2028	US$ 18.06 Billion
Global CAGR (2021 - 2028)	23.1%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Application Diabetes Cardiovascular Diseases Central Nervous System Disease Respiratory Diseases Smoking Cessation Musculoskeletal Diseases By Distribution Channel Patients Providers Payers Employers
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Propeller Health Canary Health NOOM INC 2MORROW INC Teladoc Health Welldoc Inc FITBIT INC OMADA Health Mango Health

Regional Analysis

North America held the largest market share for the digital therapeutics market in 2021 and expected to retain its market position during the forecast period. The factors enabling the North American market growth include the increasing need to reduce healthcare cost, stringent healthcare regulations, growing competition in the healthcare industry, and rapid technological innovations. Moreover, the presence of large healthcare businesses and the growing usage of Digital Therapeutics is propelling the market's expansion in this region. In North America, the US records the maximum digital therapeutics market share. Digital healthcare is booming in US and a number of factors such as ageing population, rising prevalence of chronic diseases, regulatory changes and shift towards value based care is supporting this growing penetration of digital health in the day to day lives.

Propeller Health, Canary Health Inc., NOOM INC., 2Morrow Inc, Teladoc Health, Welldoc Inc, FITBIT Inc, OMADA Health, Mango Health, Pear Therapeutics Inc, and Happify Health are among the leading players operating in the global digital therapeutics market growth. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their market growth. A few developments are mentioned below:

In November 2021, Pear Therapeutics, Inc. announced that it had received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) for its reSET-A PDT product candidate designed for the treatment of alcohol use disorder (AUD). reSET-A potentially expands Pear’s addiction franchise, including FDA-authorized products to treat substance use disorder (SUD) and opioid use disorder (OUD).
In September 2020, Welldoc announced the receipt of its ninth 510(k) clearance from the Food and Drug Administration (FDA) for its award-winning diabetes platform, BlueStar. The new approval expands insulin dosing support to most types of insulin, including Bolus and Premixed Insulin titration for type 2 diabetes.
In May 2021, Teladoc Health, Inc. announced the launch of myStrength Complete, an integrated mental health service providing personalized, targeted care to consumers in a single, comprehensive experience.