The global Digital Therapeutics market gathered revenue around USD 3.9 Billion in 2020 and market is set to grow USD 20.1 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 24.0% during the prediction period 2021 to 2027.
Growth Factors:
The key drivers for this growth include increasing incidence of chronic diseases, digitization, demand for innovative and affordable healthcare, and government initiatives.
Digital health went from novel to necessity during 2020. It swept through almost every healthcare domain as adoption peaked, accelerated by the COVID-19 pandemic. This included telehealth, telemedicine, digital pathology, triage solutions, mhealth, as well as digital therapeutics. Omada Health, Inc., a digital therapeutics provider, leveraged the gaps in care due to COVID-19 to provide extra support and guidance from its licensed specialists to those who had their doctor’s appointments deferred indefinitely. The company also helped primary care providers, therapists, endocrinologists, and cardiologists convert their practices to telehealth through enhanced education, psychosocial support, and remote monitoring.
In response to COVID-19 and its repercussions on mental health, the FDA released guidelines expanding and promoting the scope of digital health therapeutic devices for mental health conditions. Rising initiatives by public and private players is another factor expected to propel the market growth. For instance, in June 2020, Akili Interactive Labs, Inc. received the CE mark for its digital therapeutic software for the treatment of ADHD called EndeavorRx.
With an increase in internet usage and dependency on smartphones, digital therapeutics is set to register continued growth over the forecast period. This is owing to increased demand for creative and innovative treatment options that could be used remotely by patients. In February 2021, SilverCloud partnered with Cerner Corporation to integrate its virtual mental health platform with the latter’s electronic health records. With this, SilverCloud intended to scale the delivery of evidence-based mental health treatment while improving patient outcomes and lowering the cost of care.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Digital Therapeutics market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Digital Therapeutics market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
Report Scope | Details |
Market Size | USD 20.1 Billion by 2027 |
Growth Rate | CAGR of 24.0% From 2021 to 2027 |
Base Year | 2020 |
Forecast Period | 2021 to 2027 |
Historic Data | 2017 to 2020 |
Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
Segments Covered | Application, end-use and Region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Companies Mentioned | Omada Health, Inc.; WellDoc, Inc.; 2Morrow, Inc.; Livongo Health; Propeller Health; Pear Therapeutics; Twine health, Inc.; Canary Health, Inc.; Noom Health, Inc.; Mango Health, Inc. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Digital Therapeutics market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional Insights
North America held the dominant share of more than 41.1% in the digital therapeutics market in 2020. This growth is attributed to the presence of key players, rising government initiatives, well-developed healthcare infrastructure, and rising prevalence of chronic health issues.
In April 2020, the U.S. FDA released guidelines to expand the availability of digital health therapeutic devices for psychiatric conditions. With this, the FDA intended to support individuals that were following home quarantine orders or practicing social distancing, without the need for in-clinic visits during the COVID-19 public health emergency. This would also ease burdens on healthcare facilities and reduce the risk of exposure to the virus.
In Asia Pacific, the market is expected to register the fastest growth rate over the forecast period, owing to two major factors: a large and comparatively younger population base that converts into a vast target base and rapid urbanization and digitization. In addition, constant reforms in countries to address the lack of proper infrastructure and maintain sustainable growth through financial inclusion are expected to benefit the market. As per India Cellular and Electronics Association 2020 report, 97.2% of the internet users across the country access the internet through mobile devices due to factors such as reduced smartphone prices, increased affordability of mobile data, rise in the number of rural users, and various Government initiatives.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Digital Therapeutics Market include: Omada Health, Inc.; WellDoc, Inc.; 2Morrow, Inc.; Livongo Health; Propeller Health; Pear Therapeutics; Twine health, Inc.; Canary Health, Inc.; Noom Health, Inc.; Mango Health, Inc.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Digital Therapeutics market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Digital Therapeutics market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Digital Therapeutics markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Digital Therapeutics Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Digital Therapeutics Market, By End-Use
7.1. Digital Therapeutics Market, By End-Use Type, 2020-2027
7.1.1. Diabetes
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Obesity
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. CVD
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Polyethylene
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. CNS Disease
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Respiratory Diseases
7.1.6.1. Market Revenue and Forecast (2016-2027)
7.1.7. Smoking Cessation
7.1.7.1. Market Revenue and Forecast (2016-2027)
7.1.8. Others
7.1.8.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Digital Therapeutics Market, By End-Use
8.1. Digital Therapeutics Market, By End-Use, 2020-2027
8.1.1. Patients
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Providers
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Payers
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Employers
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Digital Therapeutics Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.1.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.1.3.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.1.4.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.2.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.2.3.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.2.4.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.2.5.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.2.6.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.3.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.3.3.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.3.4.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.3.5.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.3.6.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.4.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.4.3.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.4.4.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.4.5.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.4.6.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.5.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.5.3.2. Market Revenue and Forecast, By End-Use (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, By End-Use (2016-2027)
9.5.4.2. Market Revenue and Forecast, By End-Use (2016-2027)
Chapter 10. Company Profiles
10.1. Omada Health, Inc.
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. WellDoc, Inc.
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. 2Morrow, Inc.
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Livongo Health
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Propeller Health
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Pear Therapeutics
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Twine Health, Inc.
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Canary Health, Inc.
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Noom Health, Inc.
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Mango Health, Inc.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
Glossary of Terms