Digital Therapeutics (DTx) Market – Global Outlook & Forecast 2021-2031

Digital Therapeutics (DTx) Market by Application [Obesity, Diabetes, Central Nervous System (CNS) Disorders, Cardiovascular Diseases, Respiratory Diseases and Smoking Cessation], Distribution Channel [B2B and B2C] – Global Analysis & Forecast 2021-2031

Clairvoyance Research conducted an in-depth market analysis study of the global digital therapeutics (DTx) market. According to the study, the market was valued at ~US$ 27.82 billion in 2020. The market is expected to witness a CAGR of ~27.5% from 2021 to 2031. 

Rising prevalence of chronic diseases, growing geriatric population, significant increase in venture capital investments, partnerships between companies & clinical institutions for R&D activities are some of the pivotal factors propelling the growth of the digital therapeutics (DTx) market. However, risk of cybersecurity threats, data privacy concerns of patients, limited awareness and accessibility to digital therapeutics programs in emerging countries, resistance from traditional healthcare providers, and unstable payment models are some of the key challenges that are likely to hinder the growth of the market to a certain extent.

With an aim to fast-track the development of digital therapeutics (DTx) and to meet the needs of the healthcare sector, several initiatives such as providing necessary grants, permissions, clearances & approvals are been instigated by various organizations and government agencies across the world. For instance, in June 2020, the U.S. Food and Drug Administration (FDA) permitted marketing of the first game-based digital therapeutic device to improve attention function in children with attention deficit hyperactivity disorder (ADHD). The prescription-only game-based device, called EndeavorRx, is indicated for pediatric patients ages 8 to12 years old with primarily inattentive or combined-type ADHD who have demonstrated an attention issue.

According to the Centers for Disease Control and Prevention, six in ten Americans live with at least one chronic disease, such as heart disease & stroke, cancer, or diabetes. These chronic diseases are the leading causes of deaths and disability in America, leading to healthcare costs accounting for US$3.5 trillion. Additionally, the global geriatric population is continually rising. In 2018, it accounted for 8.5% of the total world population. This figure is expected to almost double by 2050. Therefore, the rising geriatric population and the burden of chronic diseases requires effective management. Digital therapeutics allow mobile consultations and efficient management of chronic diseases.

Investments in digital therapeutic projects and ventures have significantly increased since the past few years. According to the International Digital Health Cooperation (IDIH), investment activity is a strong indicator of the digital health market’s growth and trajectory. According to StartUp Health, global digital health funding in 2018 grew to a record of US$15.3 billion in over 765 investment deals. Moreover, from total investment deals, 74 most prominent investments were made in the U.S., which accounted for nearly 70% of the total funding in 2018. The investments in digital therapeutics assist digital health companies to initiate and accelerate the development of products that incorporate AI, machine learning, blockchain, and the IoT.

However, cybersecurity threats may hamper the growth of market to a certain extent. Medical devices are mostly connected to the internet, hospital networks, and other medical devices to provide features that improve healthcare and increase the ability of healthcare providers to treat patients. Internet connection and its advanced features also increase the risk of potential cybersecurity threats. As these threats and vulnerabilities cannot be eliminated, reducing cybersecurity risks is exclusively challenging.

The Asia Pacific region is expected to be the fastest growing digital therapeutics (DTx) market. Factors such as developing healthcare infrastructure, increasing prevalence of diabetes, high incidence rate of impaired glucose tolerance (IGT), rapid socioeconomic transition, continuous penetration of digital healthcare technology, among others can be attributed to the growth of the market. Countries such as India and China in the APAC region, are projected to offer significant growth opportunities owing to high population, rising prevalence of various diseases in the region.

The digital therapeutics (DTx) market is marked by presence of prominent players such as Voluntis, Teladoc Health, Inc., Omada Health, Inc., 2Morrow Inc., Pear Therapeutics, Inc., Ginger, ResMed, CANARY HEALTH, Welldoc, Proteus Digital Health, Inc. Other players operating in the market are MedRhythms, Merck & Co., Inc., Akili Interactive Labs, Inc., GAIA AG, Click Therapeutics, Inc., among others.

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