The study undertaken by Astute Analytica predicts that the global digital therapeutics market is expected to grow at a CAGR of 23.1 % over the forecast period and will reach US$ 24,143.3 million by 2030.
Digital Therapeutics is a mobile software app that cures a disease or illness. It is transforming the healthcare delivery system with evidence-based technologies that enhance patient results. It provides medical interventions straight to patients using evidence-based, clinically assessed software to treat, control and stop a wide range of disorders and diseases.
The products also deliver significant solutions to healthcare delivery systems influenced by the pandemic. It operates efficiently scalable technologies to influence tough healthcare problems. It can help patients in self-managing symptoms, enhancing their quality of life and other clinical endpoints. DTX utilizes digital tools such as apps, mobile devices, virtual reality, sensors, the Internet of Things, and other devices to produce behavioral changes in patients.
Growing the usage of wearable gadgets and acquisition in digital health will drive the market for digital therapeutics. Digital therapeutics and wearables are boosting a more patient-stressed, preventative method of healthcare.
The usage of wearable gadgets with digital therapeutic solutions will allow individuals to control their symptoms and decrease the probability of any fatality or permanent disability. Moreover, the increasing majority of chronic disorders will improve the market’s need for growth. In addition, the involvement of digital therapeutics with other digital health standards like telemedicine will drive the growth of the market over the analysis period. Digital health guides the usage of digital technologies in health financing and programming.
Key Takeaways
Based on the elements segment, the software component is evaluated to have the highest market share in 2021 due to its increased application from the digital healthcare industry and improved penetration of smartphones and other smart gadgets mostly in growing economies. Moreover, the service element is anticipated to project the highest CAGR of 24.3% in the global market during the analysis period.
On the basis of application, the treatment/care-related element is considered to have the highest market share during the analysis period due to the rising incidences of chronic diseases and investments in digital therapeutics to boost the growth of cost-effective and scalable therapy media. Whereas, the preventive application part is anticipated to have the highest CAGR in the global market during the analysis period.
In terms of sales channels, the B2B segment dominated the market in 2021. Whereas, the B2C segment is anticipated to record the highest CAGR during the analysis period due to the increasing awareness among providers, payers, and employers about the advantages of digital therapeutics and the inclination of pharmaceutical companies to integrate digital therapeutics with their drug products.
Based on geography, Asia Pacific held a significant share of the global digital therapeutics market in 2021. Furthermore, the region is anticipated to project the highest CAGR in the global digital therapeutics market during the analysis period. The quick urbanization and growth in digitization in arising nations such as India and China are essential elements responsible for the growth of the overall market in the region.
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