The digital therapeutics market size was estimated at USD 4.81 billion in 2023 and is projected to reach USD 35.12 billion by 2034, registering a CAGR of 19.8% from 2024 to 2033. Digital therapeutics are a novel category of medical interventions that have the potential to disrupt the future of healthcare models. The rise of preventable chronic diseases is expected to drive the growth of the digital therapeutics market. The U.S. digital therapeutics market size is expected to reach around USD 10.57 billion by 2034, growing at a CAGR of 20% from 2024 to 2034.
The digital therapeutics market deals with the part of digital healthcare that helps to treat, manage, and prevent a medical condition. Digital therapeutics help in treating psychological diseases. Patient conditions are optimized a lot due to its evidence-based digital healthcare technology. This technology is efficient and effective in diagnosing diseases that are not diagnosed otherwise by the healthcare system such as neurological disorders, chronic diseases, and many more.
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The increasing benefits of digital therapeutics, increasing venture capital investment, increasing widespread use of electronic health records, a high level of digital literacy within healthcare professionals, and increasing presence of technologically advanced healthcare systems are expected to drive the growth of the market during the forecast period.
Digital Therapeutics Market at a Glance
Increasing adoption of tablets and smartphones to fuel the market growth
The market for digital therapeutics is increasing because of people’s increasing reliance on tablets smartphones and other healthcare applications. Furthermore, improving staffing accuracy, enabling preventive treatment, and reducing the prevalence of drug errors, tablet and smartphone-based healthcare applications carry various advantages. A key factor enhancing demand for digital therapeutics treatment is the increasing use of personal technology devices in the healthcare sector.
In addition, by providing data in various languages, increasing the capacity of doctors to care for patients, and giving patients relevant information about treatments and illnesses, digital therapeutics is improving patient access to the efficaciousness and safety of therapies. Digital therapeutics is an effective way of care delivery that can be applied at home. Thus, these driving factors are expected to drive the growth of the digital therapeutics market.
However, high regulatory and development costs may restrain market growth.
The market for digital therapeutics may face various fundamental challenges, such as the high cost of regulatory compliance and product development. A significant upfront investment is required for regulatory filings, clinical trials, and research and development to develop digital medicine. In addition, obtaining regulatory confirmation from agencies such as the FDA can be time-consuming and costly. These costs can be catered for smaller and underdeveloped companies, which hinders innovation and competition in the market. Thus, these factors are expected to restrain the growth of the digital therapeutics market.
Growing integration with healthcare systems revolutionizes market growth.
Digital therapeutics can efficiently integrate with healthcare systems and electronic health records and allow healthcare providers to monitor and access patient data in real time. This smoothing of healthcare delivery optimizes the efficiency of support and cares for more efficient decision-making. The adoption of healthcare systems facilitates standardized and secure data sharing between healthcare providers and digital therapeutics platforms. This data exchange can involve progress reports, medication adherence, treatment plans, and patient health records. Having access to this data helps healthcare suppliers make informed decisions. Thus, these driving factors are enhancing the growth of the digital therapeutics market in the coming years.
Key Takeaways
· North America has captured highest market share of 42% in 2023.
· North America is poised to grow at a CAGR of 18.2 during the forecast period 2024 to 2034.
· By application, the diabetes application segment has captured market share of 28.8% in 2023.
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Regional Insights:
Asia Pacific is expected to grow fastest during the forecast period. The increasing large consumer base along with the increasing geriatric population across the region contributed to propelling market growth. Due to the increasing investment through funding, increasing high demand for IT services, and early acceptance of innovative and new technology, the region is driving the market. The investment is associated with increased government acquisitions, mergers, and investment. China, Japan, India, and South Korea are the leading countries in the region. In addition, improved internet access, increasing demand for effective healthcare, and rising smartphone penetration are further anticipated to enhance the market growth. China is the fastest-growing country in the healthcare system and helps to drive market growth in the region.
· For instance, in October 2023, in Suzhou Industrial Park in China, Gritgen Therapeutics launched operations at its commercial GMP facility. Gritgen has begun production of AAV -based products including its Phase III clinical and commercial product for hemophilia A.
North America dominated the digital therapeutics market in 2024. The market for digital therapeutics in the region is estimated to grow significantly during the forecast period leading to improved quality of life via increased use of digital health products and favorable reimbursement policies focused on improved diagnosis and tracking. In addition, strategic initiatives conducted by major players in the region, such as new product acquisitions, mergers, and launches are further anticipated to drive the growth of the digital therapeutics market in North America. The U.S. and Canada are the leading countries in the region.
· For instance, in January 2024, a new digital healthcare experience for patients in the U.S. living with obesity, migraine, and diabetes. LllyDirect was launched by Eli Lilly and Company. LillyDirect provided disease management resources, such as direct home delivery, tailored support, and independent healthcare providers in the United States.
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Digital Therapeutics Market Segment
By Product, the software segment led the market.
The software segment accounted for the largest market share in 2023 and expected to grow fastest during the forecast period. The increasing demand for healthcare facilities within the adoption of advanced technologies such as, machine learning and artificial intelligence in digital therapeutics are expected to drive the growth of the software segment.
By application segment, diabetes segment led the market
The diabetes segment dominated the market share in 2023. The diabetes segment is attributed to the increasing prevalence of chronic diseases such as diabetes and growing expenses of treatment, changing eating habits and hectic lifestyle.
Digital Therapeutics Market Recent Developments
· In November 2023, Curavit Clinical Research, a virtual contract research organization (VCRO) launched a Health Economics and Outcomes Research (HEOR) service for clinical trials. The inclusion of HEOR in clinical trials gives medicine manufacturers insight into market potential and product value.
· In May 2024, Otsuka launched a new data and technology-focused subsidiary that commercialized Rejoyn — as well as other digital therapeutics and connected health products down the line. The new company — named Otsuka Precision Health— was a subsidiary of Otsuka America, which was a subsidiary of Tokyo-based Otsuka Pharmaceutical.
· In April 2024, a personalized, evidence-based program to improve heart health was launched by FitHeart to address the growing heart diseases in India, with more than 22 crore people affected by hypertension and other heart ailments.
Digital Therapeutics Market Top Companies
· Fitbit Health Solutions
· 2MORROW, Inc.
· Medtronic Plc.
· Livongo Health, Inc.
· Pear Therapeutics, Inc.
· Omada Health, Inc.
· Resmed, Inc. (Propeller Health)
· Proteus Digital Health, Inc.
· Welldoc, Inc.
· Voluntis, Inc.
· Canary Health Inc.
· Noom, Inc.
· Mango Health Inc.
· Dthera Sciences
Segments Covered in the Report
By Product
· Device
· Software
By Sales Channel
· Business-to-Consumer (B2C)
o Caregiver
o Patient
· Business-to-Business (B2B)
o Healthcare Provider
o Employer
o Others
By Application
· Obesity
· Diabetes
· Central Nervous System (CNS) Disease
· Gastrointestinal Disorder (GID)
· Cardiovascular Disease (CVD)
· Smoking Cessation
· Respiratory Disease
· Others
By Regional Outlook
· North America
· Europe
· Asia Pacific
· Latin America
· MEA
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