The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s digital therapeutics market report forecasts the digital therapeutics market size to grow to $17.19 Billion by 2027, with a CAGR (compound annual growth rate) of more than 25%.

Learn More On The Digital Therapeutics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/digital-therapeutics-global-market-report

Digital Therapeutics Market Size Forecast
The global digital therapeutics market is expected to grow from $5.53 billion in 2022 to $6.93 billion in 2023 at a compound annual growth rate (CAGR) of 25.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The digital therapeutics market size is expected to grow to $17.19 billion in 2027 at a CAGR of 25.5%.

North America held the largest digital therapeutics market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Digital Therapeutics Market Driver ­– Increase In Use Of Smartphones And Tablets, Coupled With Healthcare Apps
For instance, according to the Groupe Speciale Mobile Association (GSMA) report, the number of smartphone users in the US reached 270 million in 2020. According to the Pew Research Center, a nonpartisan American think tank, the percentage of Americans who own a smartphone climbed from 81% in February 2019 to 85% in February 2021, which was just 35% a decade ago (in 2011). Therefore, the increasing use of smartphones drives the growth of the digital therapeutics market.

Request for A Sample Of The Global Digital Therapeutics Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5343&type=smp

Key Digital Therapeutics Market Trend – Technological Innovation
Technological innovation is an emerging trend gaining popularity in the digital therapeutics market. Major companies operating in the market are focused on developing technologically advanced solutions for digital therapeutics to strengthen their position. For instance, in 2020, Boehringer Ingelheim, a Germany-based pharmaceutical company, and Click Pharmaceuticals, a US-based prescription digital therapeutics business, have agreed to collaborate on the development and commercialization of a digital medication for schizophrenia patients worth more than $500 million. The treatment named CT-155 will be a mobile app developed on click’s technology platform, according to the company.

Digital Therapeutics Market Segment
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

Digital Therapeutics Market Major Players and Strategies
Major players in the digital therapeutics market are Omada Health Inc., WellDoc Inc., 2Morrow Inc., Livongo Health, Propeller Health, Pear Therapeutics, Canary Health Inc., Noom Health Inc., Mango Health Inc., Akili Interactive Labs, Better Therapeutics, Happify Health, Kaia Health, Medtronic PLC., Teladoc Health Inc., and Fitbit Health Solutions.

In April 2020, Novartis, a Switzerland-based pharmaceutical company, acquired Ambylotech for an undisclosed amount. This acquisition is expected to help Novartis to develop Amblyotech’s novel digital technology to treat amblyopia or lazy eye through digital therapeutics. Amblyotech is a US-based digital therapeutics company.

The Digital Therapeutics Global Market Report 2023 covers regional data on digital therapeutics market size, digital therapeutics market trends and drivers, opportunities, strategies, and digital therapeutics market competitor analysis. The countries covered in the digital therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Digital therapeutics (DTx) are the products that give evidence-based therapeutic treatments to patients through high-quality software applications in order to prevent, manage, or treat a medical ailment or disease.

View More Reports Related To The Digital Therapeutics Market –
Digital X-Ray Devices Global Market Report 2023
Digital Pathology Global Market Report 2023
Microbiome Therapeutics Global Market Report 2022

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: