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Digital Therapeutics Market Trends

Report ID: GMI5408
Published Date: Nov 2024
Report Format: PDF

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Digital Therapeutics Market Trends

The market is set to experience considerable growth through 2032 as healthcare providers and patients prefer non-invasive, digitally-driven health interventions. A notable trend is the increasing acceptance of DTx products among healthcare providers for remote patient monitoring, particularly chronic disease management. The integration of artificial intelligence and machine learning into DTx applications is also expanding, enhancing data analysis capabilities and enabling more personalized treatment plans.

Quoting an instance, in July 2024, South Korean regenerative medicine company PharmaResearch Co. announced its acquisition of TuringBio, an AI-driven digital healthcare solutions provider. Through this acquisition, PharmaResearch seeks to strengthen its talent pool in digital therapeutics (DTx) and incorporate AI technology into its medical and aesthetic divisions, further expanding its expertise and capabilities.

Furthermore, DTx companies are increasingly forming partnerships with pharmaceutical firms to combine therapeutic interventions with medication, improving patient outcomes and adherence. These collaborations are expected to drive the adoption of digital therapeutics as a mainstream approach to treatment.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for digital therapeutics reached an estimated USD 6.5 billion in 2022 and is anticipated to garner over USD 104 billion in revenues by 2032, given the ability of digital therapeutics (DTx) to directly deliver medical interventions to patients using clinically evaluated evidence-based devices & software to prevent, manage, and treat several diseases and disorders.

The digital therapeutics industry share from the software segment is projected to grow at 31.7% CAGR between 2023 and 2032, attributed to the capability of digital software modalities in helping patients with medication adherence while offering personalized care enabling long-term behavioral change.

The digital therapeutics market size from the diabetes segment is set to expand at 31.0% CAGR from 2023 to 2032, driven by the surging requirement and an increased cognizance of the unique benefits of digital therapeutics in precisely managing diabetes.

Prominent enterprises in the digital therapeutics industry include Otsuka Holdings Co., Ltd., LifeScan Inc., Teladoc Health, Omada Health Inc., Pear Therapeutics, Inc., Propeller Health (ResMed), Teladoc Health, LifeScan, Inc., DarioHealth, Voluntis, My Sugr (Roche), and Virta Health Corp.