According to a recently published Fact.MR report, it is predicted that the digital therapeutics industry will grow at a CAGR of 26.5% between 2022 and 2032, reaching US$ 56.41 Bn. Growing virtualization of the healthcare industry amid the penetration of technological advancements is expected to stimulate market demand for digital therapeutics. From 2015 to 2021, demand for digital therapeutics flourished at a CAGR of 17%, reaching a value of US$ 4.25 Bn. During the COVID-19 pandemic, mandatory social distancing protocols prompted practitioners to limit direct contact with patients, particularly those seeking treatment for non-COVID procedures. Consequently, there was extensive reliance on telemedicine and virtual therapeutic sessions.
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The market is expected to gain significant growth with the rising number of chronic diseases all around the globe. One reason behind this increasing number is the rising geriatric population. With age, comes severe complications in the individuals leading to various health problems. These will act as the drivers of the digital therapeutics markets to constantly analyze an individual’s health and lessen the risk of fatality.
Key Segments Covered in the Digital Therapeutics Industry Survey
Key Takeaways from the Market Study
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Competitive Landscape
The market is dominated by several key players, who focus on innovative strategies for increasing revenues, such as mergers and acquisitions, market penetration, partnerships, and distribution agreements.
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global digital therapeutics market, presenting historical demand data (2015-2021) and forecast statistics for the period of 2022-2032.
The study indulges essential insights on the market on the basis of application (diabetes, obesity, CVD, respiratory diseases, smoking cessation, CNS diseases and others), and end user (patients, providers, payers, employers and others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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