Digital therapeutics are changing the healthcare and medicine delivery system with evidence-based technologies to improve patient outcomes. Digital therapeutics helps to deliver medical therapies or treatments directly to the patients using scientific reports, clinically evaluated software used to treat patients, their management and used for the prevention of chronic diseases or disorders.
Digital therapeutics products have the same set of standards and regulations as that of traditional medicinal products and treatments. Digital therapeutics must follow some of the core values like product safety, patient centricity, privacy, quality, and ongoing clinical trials impact on the product.
According to AllTheResearch, “The Global Digital Therapeutics Market was valued at USD 3.7 billion in 2020, and it is expected to reach USD 14.3 billion by 2027, with a CAGR of 21.3 %, during the forecast period-2021-2027.”
Increased penetration of technical gadgets like smartphones, laptops, tablets in healthcare, rising chronic diseases with effective and controlled cost of therapies, increasing government initiative for preventive healthcare, and growing technological advances drives the growth of digital therapeutics market.
The Global Digital Therapeutics Market Segmentation:
The Global Digital Therapeutics Market is segmented based on Applications, Sales Channel, and by region.
- Lifestyle Management
- Chronic Respiratory Disorders
- Gastrointestinal Disorders
By Sales Channel
Impact of COVID19 on Digital Therapeutics Market
Covid-19 pandemic has shuffled entire healthcare system all over the world. This gave an opportunity for the growth of the digital therapeutics market by increase in prevalence of mental disorders and awareness regarding digital therapies.
Digital Therapeutics Market Recent News:
- In June 2021, Epillo Health System launched EHR system for clinics and pharmacies and mobile app to the patients which provides medical reports and prescriptions. It is web-based INTRx Clinical system helps to manage patients’ health, lab/diet reports and monitors diseases. It also helps to manage finances and appointments.
- In June 2021, an India based digital therapeutic company, Fitterfly, launched digital recovery programme for diabetic patients who contracted COVID-19, which helped patients to contact with their family and groups, virtual discussions.
Company Profiles and Competitive Intelligence
The key players operating in the market are: Noom, Livongo Health, Omada Health, WellDoc, Pear Therapeutics, Proteus Digital Health, Propeller Health, Akili Interactive Labs, Better Therapeutics, Happify, Kaia Health, Mango Health, Click Therapeutics, Canary Health, Wellthy Therapeutics