U.S. Digital Therapeutics Market Size Poised for USD 5.08 billion by 2027, 19.2% CAGR , Predicts AMR

Allied Market Research published a report, titled, “U.S. Digital Therapeutics Market by Application (Diabetes, Obesity, Cardiovascular Disease (CVD), Central Nervous System (CNS) Disease, Respiratory Disease, Smoking Cessation, Gastrointestinal Disorder (GID), and Others), Product (Software and Device), and Sales Channel (Business-to-Business(B2B), Business-to-Consumer (B2C)): Opportunity Analysis and Industry Forecast, 2020–2027.”

According to the report, the U.S. digital therapeutics industry generated $1.16 billion in 2019, and is estimated to generate $5.08 billion by 2027, growing at a CAGR of 19.2% from 2020 to 2027.

 

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Drivers, restraints, and opportunities

The U.S. digital therapeutics market is experiencing growth propelled by increased usage of tablets, smartphones, and smart wearables, coupled with the widespread adoption of healthcare apps. The rising demand to mitigate healthcare costs and the acceptance of technologically advanced healthcare products and applications further contribute to this upward trend. Nevertheless, challenges such as data privacy apprehensions and inadequate reimbursement policies act as impediments to market expansion. Conversely, the presence of supportive laws and regulations for digital health technologies, along with a surge in investments from market players, presents promising opportunities for future growth.

COVID-19 Scenario

• The Covid-19 pandemic has heightened awareness of digital health, driven by the desire to minimize infection risks through reduced physical clinic visits and an increased prevalence of mental health issues.
• Digital therapeutics, championed by both startups and established industry players, are now addressing conditions like Type 2 diabetes, addiction, autism, and musculoskeletal injuries through methods such as video consultations, the release of instructional videos and blogs on their websites, and the dissemination of healthcare programs via apps.
• With remote receipt of medications and treatments, individuals are increasingly turning to online channels to order necessary medications and medical devices.

 

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The software segment to maintain its dominance by 2027

In 2019, the software segment played a pivotal role, constituting over two-thirds of the U.S. digital therapeutics market. It is projected to sustain its dominance in revenue share through 2027, with an anticipated highest Compound Annual Growth Rate (CAGR) of 20.3% during the forecast period. This remarkable growth is driven by the growing demand for cost-effective healthcare solutions and the presence of innovative software and apps with advanced features designed to assist individuals in maintaining good health and accessing appropriate treatment. The study also delves into the analysis of the devices segment.

The business to business segment to continue its highest contribution by 2027

In 2019, the business-to-business segment played a significant role, accounting for nearly two-thirds of the U.S. digital therapeutics market, and this dominance is expected to persist throughout the forecast period. The sustained contribution can be attributed to the increasing number of industry players offering favorable reimbursement policies to employees through their employers in the U.S. On the other hand, the business-to-consumer segment is anticipated to exhibit the highest Compound Annual Growth Rate (CAGR) of 19.8% from 2020 to 2027. This growth is driven by the ease of accessibility and availability of software and smart devices, coupled with a rising demand for digital therapeutic products among both patients and caregivers.

The diabetes segment to maintain its dominant position throughout the forecast period

In 2019, the diabetes segment emerged as the leading application, capturing over one-fourth of the U.S. digital therapeutics market, and it is anticipated to sustain this dominant position in the forecast period. This prevalence is linked to the widespread occurrence of diabetes and the availability of cost-effective treatment alternatives. Conversely, the obesity segment is poised to experience the most rapid Compound Annual Growth Rate (CAGR) of 22.1% from 2020 to 2027. This growth is driven by the increasing number of overweight individuals and the convenient accessibility of digital therapeutics software applications aimed at assisting patients in maintaining proper diets and monitoring physical activities.

Leading market players

• 2MORROW, Inc.
• Fitbit, Inc. (Twine Health, Inc.)
• Livongo Health, Inc.
• Medtronic Plc.
• Omada Health, Inc.
• Pear Therapeutics, Inc.
• Proteus Digital Health, Inc.
• Resmed, Inc. (Propeller Health)
• Voluntis, Inc.
• Welldoc, Inc.

Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2019?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2027?
• Which region has more opportunities?

 

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