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What key factors are powering the surge in the digital therapeutics market right now?

In recent times, the size of the digital therapeutics market has seen incredible expansion. The market, which is likely to grow from $8.73 billion in 2024 to $10.99 billion in 2025, is projected to have a Compound Annual Growth Rate (CAGR) of 25.9%. An aging population and the surge of chronic diseases, acceptance of digital health, healthcare expenses and efficiency, distant patient surveillance, and demand created by the pandemic could be the reasons for the growth seen in the historic span.

How fast Is the digital therapeutics market expected to grow, and what’s its future value?

Expectations are high for a substantial expansion in the digital therapeutics market size in the forthcoming years, with projections suggesting that it can reach $30.04 billion in 2029, growing at a compound annual growth rate (CAGR) of 28.6%. This growth during the forecast period is linked to upsurging adoption of tailored medicine, interoperability of health data, value-based care systems, a rising emphasis on mental health and wellbeing, healthcare accessibility and equality, strengthened cybersecurity and data protection, and higher demand for population health management. During the forecast period, key trends will be the spread of IoT devices and sensors, the application of artificial intelligence in healthcare, the use of wearable health technology, along with technological advancements and product innovations.

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What are the leading drivers of growth in the digital therapeutics market?

The anticipated surge in the digital therapeutics market is attributed to the increasing utilization of smartphones and tablets along with healthcare applications during the projection period. Healthcare apps on these devices offer numerous benefits such as reducing the frequency of medication mistakes, promoting preventive care, and providing precise staffing. As per the 2023 State of Mobile Internet Connectivity Report by the UK-based non-profit, Groupe Speciale Mobile Association (GSMA), it is predicted that in 2022, over half of the global population, 54% to be specific, will own a smartphone. Thus, this growing smartphone usage fuels the expansion of the digital therapeutics market.

What are the key segments defining the digital therapeutics market?

The digital therapeutics market covered in this report is segmented –

1) By Product: Software, Devices

2) By Sales Channel: Business-To-Business (B2B), Business-To-Consumers (B2C)

3) By Application: Preventive Applications, Treatment Or Care-Related Applications

Subsegments:

1) By Software: Mobile Applications, Web-Based Platforms, Digital Therapeutics Software

2) By Devices: Wearable Devices, Biosensors, Digital Therapeutic Devices

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Who are the key players steering the development of the digital therapeutics market?

Major companies operating in the digital therapeutics market include Omada Health Inc., WellDoc Inc., 2Morrow Inc., Propeller Health, Pear Therapeutics, Canary Health Inc., Noom Health Inc., Akili Interactive Labs, Better Therapeutics, Happify Health, Kaia Health, Medtronic plc, Teladoc Health Inc., Fitbit Health Solutions, EMulate Therapeutics, BigHealth, DarioHealth, IQVIA, JOGO Health, SilverCloud Health, Biofourmis Inc., Prosoma, Virta Health Corp., One Drop Inc., Lark Health, Riva, Xealth, CogniFit Ltd.

What emerging trends are influencing the growth of the digital therapeutics market?

Technological advancement has become a burgeoning trend in the digital therapeutics market, gaining increased attention. Key market players are keen on creating technology-forward solutions for digital therapeutics to solidify their foothold. For example, a collaboration has been initiated between Boehringer Ingelheim, a pharmaceutical company based in Germany, and US-based prescription digital therapeutics entity, Click Pharmaceuticals. They plan to work together to develop and market a digital medication for patients with schizophrenia, valued at over $500 million. The treatment, termed CT-155, will take the form of a mobile application, utilizing Click’s technological platform, as conveyed by the company.

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Which regions are most influential in expanding the digital therapeutics market?

North America was the largest region in the digital therapeutics market in 2024. The Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital therapeutics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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