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(Health-NewsWire.Net, July 28, 2021 ) According to the new market research report “Digital Therapeutics (DTx) Market by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel (B2C, Patient, Caregiver, B2B, Providers, Payer, Employer, Pharma) – Global Forecasts to 2026″, published by MarketsandMarkets™, the Global DTx Market is projected to reach USD 13.1 billion by 2026 from USD 3.4 billion in 2021, at a CAGR of 31.4% during the forecast period.
Browse in-depth TOC on “Digital Therapeutics (DTx) Market”
157 – Tables
27 – Figures
204 – Pages
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Covid-19 Impact on the Digital Therapeutics Market
The impact of the coronavirus pandemic and the subsequent establishment of nationwide lockdowns is visible in various industries. The overall growth of various sectors has been heavily impacted, especially in countries with a high incidence rate of COVID-19, such as India, China, Brazil, the US, and several European countries (including Russia, Italy, and Spain). While industries such as oil and petroleum, aeronautics, and mining are experiencing a steep fall in revenues, the healthcare, biotechnology, and pharmaceutical industries are optimizing this situation to serve a maximum number of patients and healthcare professionals.
The Growth in this DTx market is primarily driven by the increasing incidence of preventable chronic diseases, the need to control healthcare costs, rising focus on preventive healthcare, and rising investments in digital therapeutics. On the other hand, a lack of awareness and access to digital therapeutics programs in developing countries, resistance from traditional healthcare providers, and unstable payment models are challenging the growth of this market.
Treatment/care-related applications form the largest segment of the market, by application.
Based on application, the digital therapeutics market is segmented into preventive and treatment/care-related applications. The treatment/care-related applications segment held the largest share of 82.3% of this market in 2020. The large share of this segment is attributed to the growing incidences of chronic diseases, the rising economic burden of their treatment, and investments in digital therapeutics to encourage the development of cost-effective and scalable treatment platforms for these conditions.
The B2B segment is the largest and fastest-growing segment of the market during the forecast period.
Based on the sales channel, the digital therapeutics market is segmented into business-to-customer (B2C) and business-to-business (B2B). In 2020, the B2B segment accounted for the largest share of 86.3% of the market. This is attributed to growing awareness among providers, payers, and employers about the benefits of digital therapeutics and the inclination of pharmaceutical companies to integrate digital therapeutics with their drug products.
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North America commanded the largest share of the digital therapeutics market in 2020.
In 2020, North America held the largest share of the DTx Market, followed by Europe. The market in North America is also expected to grow at the highest CAGR of 32.2%. Factors such as the influx of new start-ups, increasing investments in digital therapeutics, improvements in the reimbursement structure for digital therapeutics, and government initiatives to support technological advancements drive market growth in this region.
Prominent players in the digital therapeutics market include Noom (US), Livongo Health (US), Omada Health (US), WellDoc (US), Pear Therapeutics (US), Proteus Digital Health (US), Propeller Health (US), Akili Interactive Labs (US), Better Therapeutics (US), Happify (US), Kaia Health (Germany), Mango Health (US), Click Therapeutics (US), Canary Health (US), Wellthy Therapeutics (India), Cognoa (US), CogniFit (US), Ayogo Health (Canada), Mindstrong Health (US), 2Morrow (US), and Ginger (US).
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Mr. Aashish Mehra
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