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

Think of Digital Therapeutics (DTx) as a kind of software that's been proven to actually help you feel better! It's used to prevent, manage, or even treat a medical condition. So, DTx are really patient-friendly software programs that give you a real therapeutic boost, helping you take charge of managing, preventing, or treating a disease. For example, imagine being able to manage your symptoms yourself, improving your quality of life and reaching other clinical goals – that's what DTx can do! They use all sorts of digital tools like smartphones, apps, sensors, VR, the Internet of Things, and more to help you change your behavior for the better. And because they're designed with your needs in mind, DTx can really make a difference in providing health services that are tailored just for you.

Think of DTx like thisIt can team up with other treatments, like medication or face-to-face therapy, and even special gadgets or tools that use your senses or movement. Or, it can work solo! But here's the thingit all relies on gathering and crunching digital data to make the magic happen. Because it's all digital, we can track your progress and even spot potential problems early. Right now, they're cooking up DTx therapies to help manage and prevent tons of stuff – from type II diabetes to congestive heart failure, Alzheimer’s, anxiety, and lots more!

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

We'll dig into the market using both numbers and more qualitative stuff, looking at different segments based on all sorts of factors, not just money. You'll get the market value (in USD Billion) for every slice and dice of the market. We'll also point out which area and segment is likely to be the fastest growing and the one to rule them all. Think of a geographic breakdown that shows where the product/service is being used the most, and what's driving the market in each of those places. Plus, we'll map out the competitive scene, showing you who's on top, what new stuff they've launched, who's teamed up with whom, who's expanding, and who's buying who – all from the last five years. We'll also give you detailed company profiles, with a look at each company, insights, product comparisons, and a SWOT analysis for the main players. You’ll see the present and future of the market, considering recent happenings, like what's fueling growth, what's holding it back, and the opportunities and hurdles in both up-and-coming and established areas. Then, we’ll really get into it with a Porter's Five Forces analysis. You'll also gain market understanding through a Value Chain perspective. We'll lay out the market dynamics, future growth possibilities, and as a bonus, you get 6-month post-sales analyst support.

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