US Digital Therapeutics Market Size By Product (Software, Devices), By Application (Diabetes, Obesity, CVD) And Forecast

US Digital Therapeutics Market Size And Forecast

US Digital Therapeutics Market size was valued at USD 1.4 Billion in 2021 and is projected to reach USD 12 Billion by 2030, growing at a CAGR of 24.8% from 2023 to 2030.

The increased use of smartphones, tablets, and smart wearables along with healthcare apps, the desire to better manage healthcare expenses, and the rise in the prevalence of chronic diseases have all contributed to an increase in demand for U.S. digital pharmaceuticals. The US Digital Therapeutics Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

US Digital Therapeutics Market Definition

Digital Therapeutics (DTx) is a software-driven, evidence-based therapeutic treatment used to prevent, manage, or treat a medical condition. DTx, then, are patient-facing software programs with a demonstrated therapeutic advantage that assist patients in the management, prevention, or treatment of a disease. For instance, Digital Therapeutics can help patients manage their symptoms on their own, enhancing their quality of life as well as other clinical goals. DTx employs digital resources including smartphones, applications, sensors, virtual reality, the Internet of Things, and other tools to encourage patients to change their behavior. As their design is adapted to the demands of patients, DTx development can have a favorable effect on offering well-customized health services.

The usage of DTx can be combined with other therapies, such as pharmaceutical or in-person therapy, as well as with specific hardware or other sensory or mechanical devices. It can also be used as a stand-alone therapy. Digital measurements must be taken and processed in order for the treatment to take place. Data can be gathered and analyzed as a progress report and a preventative action because of the digital aspect of the process. For the management and prevention of a wide range of illnesses and ailments, including type II diabetes, congestive heart failure, Alzheimer’s disease, anxiety, and many more, therapies are currently being created.

US Digital Therapeutics Market Overview

The increased use of smartphones, tablets, and smart wearables along with healthcare apps, the desire to better manage healthcare expenses, and the rise in the prevalence of chronic diseases have all contributed to an increase in demand for U.S. digital pharmaceuticals. In addition, the market is being driven forward by the increased adoption of cutting-edge technology and tech-driven healthcare goods and applications.

The market expansion, however, is constrained by the absence of reimbursement guidelines for digital therapies and worries about patient data protection. On the other hand, pro-digital health policies and regulations as well as increased investment in digital therapeutics are predicted to create sizable business prospects for manufacturers in the US Digital Therapeutics Market.

US Digital Therapeutics MarketSegmentation Analysis

The US Digital Therapeutics Market is segmented into Product and Application.

US Digital Therapeutics Market, By Product

• Software
• Device

Based on product, the Market is divided into Software and Devices. During the projected period, the software sector is anticipated to have the greatest market share. This is because there is an increase in demand for healthcare cost reduction. Developers would have a tonne of opportunity to exploit already-existing software and create new, cutting-edge features to improve its functionality and price.

US Digital Therapeutics Market, By Application

• Diabetes
• Obesity
• CVD
• Respiratory Diseases
• Smoking Cessation
• CNS Disease
• Others

Based on Application, the market is divided into Diabetes, Obesity, CVD, Respiratory Diseases, Smoking Cessation, CNS Disease, and Others. Due to the high prevalence of diabetes, the sector for diabetes will account for the biggest market share throughout the forecasted period. The rising incidence of diabetes and the demand for affordable healthcare solutions are further factors driving up the demand for digital therapeutics among diabetic patients in the U.S.

Additionally, the segment related to obesity is anticipated to increase at the greatest rate during the projection period. This is brought on by the rising prevalence of overweight people, which raises the risk of chronic diseases brought on by obesity. In addition, increased patient access to software programs for digital treatments that help patients manage their health data, maintain a balanced diet, and engage in daily physical activity spurs market expansion in the US.

Key Players

The ” US Digital Therapeutics Market” study report will offer useful information with a focus on the market. The major players in the market are Proteus Digital Health, Inc., Omada Health, Inc., 2morrow, Inc., Fitbit, Inc. (Twine Health, Inc.), Livongo Health, Inc., Medtronic Plc., Voluntis, Inc., and Welldoc, Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

Key Developments

• In April 2022, The FDA’s Safer Technologies Program selected pear Therapeutics as a potential product for the management of both acute and chronic pain (STeP).
• In March 2022, A partnership between the multinational healthcare corporation Sanofi US and the digital therapeutics company DarioHealth was recently announced. The extension of digital health solutions on the Dario platform and the commercial acceptance of DarioHealth’s DTx technology will both be accelerated by this collaboration.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the US Digital Therapeutics Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in US Digital Therapeutics Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

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Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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