The global Digital Therapeutics Market Growth Accelerated by Increased Acceptance of Virtual Healthcare Solutions

 Digital therapeutics (DTx) leverage digital and online health technologies to treat various medical conditions. DTx are designed to deliver evidence-based therapeutic interventions to patients that are driven by high-quality digital and mobile health software applications to prevent, manage, or treat a medical disorder or disease. DTx applications directly support patients and healthcare professionals to positively impact patient health. The need for virtual healthcare solutions has grown significantly due to an aging population and the constraints posed by the COVID-19 pandemic.

The global Digital Therapeutics Market is estimated to be valued at US$ 6.6 Bn in 2023 and is expected to exhibit a CAGR of 20.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Adoption of virtual healthcare solutions is one of the major trends driving the growth of digital therapeutics market. Growing acceptance of telemedicine and virtual healthcare platforms among physicians and patients has boosted the demand for digital therapeutics. Changes in regulations around the world allowing home-based virtual care as equivalent to in-person visits have further encouraged patients to adopt digital therapeutic interventions. Advanced technologies such as AI and machine learning are being incorporated by key players in their digital therapeutic platforms to provide personalized treatment options. This has enhanced the efficacy and outcomes of digital therapeutics.

Segment Analysis                                             
The global digital therapeutics market is currently dominated by the diabetes segment. Chronic conditions like diabetes require consistent monitoring and management to avoid complications. Digital therapeutics helps in Blood glucose level monitoring and insulin dosage management remotely. This eases the lives of millions of diabetics and helps them efficiently manage their condition. Going forward, the cardiovascular segment is expected to grow at a high pace owing to the increasing prevalence of chronic conditions like hypertension, heart disease. Digital therapeutics can help in modifying lifestyle habits, reducing stress and better medication adherence. This is likely to drive higher adoption of digital therapeutics solutions in the cardiovascular segment.

Key Takeaways
The global digital therapeutics market is expected to witness high growth over the forecast period of 2023-2030. The global Digital Therapeutics Market is estimated to be valued at US$ 6.6 Bn in 2023 and is expected to exhibit a CAGR of 20.5% over the forecast period 2023-2030.

North America currently dominates the market due to advanced digital healthcare infrastructure and growing funding for digital therapeutics startups in the US. However, Asia Pacific is likely to emerge as the fastest growing region owing to rising healthcare expenditure, increasing internet penetration and growing adoption of smartphones in countries like China and India.

Key players operating in the digital therapeutics space are Happify, Inc., 2Morrow, Inc., Akili Interactive Labs, Inc., Click Therapeutics, Inc., and Fitbit, Inc. Happify, Inc. specializes in digitally-delivered cognitive behavioral therapy for mental health conditions like depression, anxiety and insomnia. 2Morrow, Inc. offers digital therapeutics for chronic conditions like diabetes and hypertension using combinations of lifestyle coaching and medication management. Akili Interactive Labs, Inc. focuses on digital treatment of cognitive impairments in children using techniques like perceptual and cognitive training delivered through video games. Click Therapeutics, Inc. has developed FDA-cleared digital therapeutics for depression treatment. Fitbit, Inc. offers both wearable devices and digital therapeutics for conditions like diabetes, hypertension, stress and sleep disorders through preventive healthcare management.

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