Digital Therapeutics Market CAGR to Exceed 20% by 2035, Due to the Growing Demand for Digital Solutions and Remote Care for Patients| Roots Analysis

According to the recently published report by Roots Analysis, the growing preferences for digital therapeutics over conventional drugs and the demand for remote solutions will drive digital therapeutics market growth

Digital Therapeutics Market Analysis

The global digital therapeutic market is expected to grow at a compound annual growth rate (CAGR) of 20% during 2022-2035 and is anticipated to be worth over USD 20 billion by 2035.

Digital therapeutics refers to the software or technology-based digital health solutions that help to capture real-time data and deliver medical intervention to patients for disease prevention. Such solutions employ evidence-based studies to develop a personalized treatment plan and enhance medication adherence. Digital therapeutic solutions have garnered the attention of the pharmaceutical industry stakeholders and healthcare sectors as they facilitate remote patient monitoring with real-time data analysis.

Furthermore, the FDA has sanctioned the Breakthrough Device Designation program to approve digital therapeutics. Notably, till September 2022, close to 730 digital health products, including digital therapeutics, have been approved by the FDA. With ongoing trends and increasing demand for digital solutions in the pharmaceutical sectors, the digital therapeutics market is expected to grow during the forecast period.

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Market Drivers

Several factors that are driving the digital therapeutic market include the rising adoption of Smartphones and wearable gadgets that help to collect health data. Over the past few decades, digital therapeutic solutions have emerged as a promising solution to treat patients using software and technologies. The data collected from the digital therapeutic devices enable physicians to provide personalized treatment plans for prevention and treatment. Furthermore, digital therapeutic devices allow remote monitoring, allowing patients to get appropriate treatment before their condition gets worse, eliminating the requirement for emergency care. Additionally, owing to the significance of digital health solutions in the management of chronic diseases such as diabetes, heart stroke, and cardiovascular diseases, it is anticipated that the digital therapeutic market is likely to grow during the forecast period.

Market Restraints

Despite its significance, the digital therapeutic market faces challenges associated with cybersecurity. Patients are concerned about their medical data being stolen from digital therapeutic software; recording inaccurate information and the vulnerability of the data restrict the adoption of digital therapeutics. Android and iOS devices are vulnerable to malware programs that may result in the illegal release of the personal data of the patient. high-risk and security breaches associated with health information have been restraining the widespread adoption of digital therapeutic solutions.

Growth Driver

Several growth factors continue to drive the digital therapeutic market during the forecast period. One of the promising factors that drive the market is evolving regulatory and clinical approval from the regulatory authorities. In addition, the rising awareness of real-time data analysis for disease management and prevention drives the digital therapeutic market. Additionally, several big pharmaceutical market players have taken initiatives to improve their product portfolio, entering into agreements and making significant investments to develop digital therapeutic solutions to treat patients in remote settings. Further, increasing cases of chronic disease will raise the demand for digital health solutions to provide personalized treatment efficiently.

Digital Therapeutics Market Segments

Based on the Type of Solutions, Digital Therapeutic Market is Segmented into Standalone Software Application, Software Application + Device, Software Application + AI Support, Software Application + Personal Coach, Software Application + Device + AI Support, Software Application + Device + Personal Coach and Others

• Standalone software applications are witnessing tremendous growth and hold the major share of 42% by 2035.
• Software application + AI support is likely to capture a share of 12% by 2035.

Based on the Type of Therapy, Digital Therapeutic Market is segmented into Curative Solutions and Preventive Solutions.

• The digital therapeutic market is led by advanced curative solutions, capturing the major share of the market, nearly 90% in the forecast period 2023-2035.
• The demand for preventive solutions with real-time analysis is anticipated to grow and is expected to hold a share of nearly 10.0% by 2035..

Based on the Purpose of the Solution, the Digital Therapeutic Market is segmented into Medication Replacement and Medication Augmentation.

• The medication replacement solution segmented is likely to capture the major share around 61% of the digital therapeutic market during forecast period of 2023-2035.
• The medication augmentation solution is anticipated to have the highest potential share around 39% by 2035

Based on the Type of Business Model, the Digital Therapeutic Market is segmented into B2B and B2C.

• The B2b is anticipated to capture the majority of the digital therapeutic market share around 76% during the forecast period by 2035.
• The B2C segment is likely to witness growth during the forecast period and hold share around 24% by 2035.

Based on the Therapeutic area, Digital Therapeutic Market is segmented into Cardiovascular Disorder, Chronic Pain Management, Mental Health Disorder, Metabolic Disorder, Neurological Disorder, Respiratory Disorder, and Sleep Disorder.

• The metabolic disorder segment is anticipated to grow during the forecast period and is projected to hold share around 26% by 2035.
• The mental health disorder segment is likely to capture a share of 24% by 2035 and anticipated to grow at a steady rate.

Based on the Key Geography Area, the Digital Therapeutic Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & North Africa.

• Close to 40% of the share is captured by North America, anticipated to grow by 2035.
• The Europe region will hold 34.5% of share and is likely to expand faster during the forecast period of 2022-2035.

Key Companies Profiles

The digital therapeutic market report also includes the complete profile of leading companies that offer digital health solutions.

• Ampersand Health
• Akili Interactives
• Better Therapeutics
• Brain+
• Click Therapeutics
• CogniFit
• GAIA
• Healios
• JOGO Health
• Jolly Good
• KORE Digital Health Therapeutics
• Livongo Health
• Lucid
• MedRhythms
• Pear Therapeutics
• Redicare Control
• Susmed
• The Learning Corp
• Voluntis
• WellDoc

You Can Download Free Sample PDF Copy Of This Report At:

https://www.rootsanalysis.com/reports/digital-health-market-focus-on-digital-therapeutic-monitoring-and-diag/request-sample.html

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About Roots Analysis

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