The Global Digital Therapeutics (DTx) Market is projected to reach $20.63 billion by 2028, from a value of $4.39 billion in 2022, by registering a CAGR of 29.4% during the forecast period. Increasing incidence of preventable chronic diseases, rising focus on preventive healthcare, and an increase in awareness by government agencies are the major factors propelling the growth of the market. However, Patient data privacy concerns and developing countries lacking smartphones and internet facilities are hampering the market growth. Moreover, significant increases in venture capital investments and unexplored therapeutic applications are creating ample opportunities across the globe.
Recent Developments
In Feb 2022, Teladoc Health launched Chronic Care Complete a first-of-its-kind chronic condition management solution to help individuals improve their health outcomes while living with multiple chronic conditions. The solution provides members with a unified, comprehensive experience that leverages connected health monitoring devices, access to health coaches, and support from physicians and mental health specialists when needed.
In April 2021, Welldoc partnered with Dexacom to integrate platforms and offer integrated type 2 diabetes management solutions. This partnership allows bringing together the two most challenging, and often independent, elements of diabetes management glucose monitoring and the impact of lifestyle choices for the first time. Through a new app experience, users will be able to manage multiple facets of their health while also improving data sharing with their care team.
In Sep 2020, Click Therapeutics collaborated with Boehringer Ingelheim to develop and commercialize CT-155, a novel prescription digital therapeutic to aid in the treatment of schizophrenia. This collaboration combines Click Therapeutics specialty in developing efficacious and engaging digital therapeutics with Boehringer Ingelheims expertise in the clinical development of treatments for neuropsychiatric diseases, furthering Boehringer Ingelheims commitment to exploring digital innovations to benefit patients with unmet medical needs.
In Jan 2020, Pear Therapeutics collaborated with Crossroads Treatment Centers. Crossroads Treatment Centers, the parent company of ARS Treatment Centers, will be implementing Pears reSET-O® PDT in 38 of its treatment centers across western Pennsylvania this month, with plans to roll out the product across the companys 10-state footprint throughout 2020.
Competitive Landscape
Wellthy Therapeutics, Ayogo Health, Virta Health, Better Therapeutics, Propeller Health, Click Therapeutics, Omada Health, Mango Health, Inc., Livongo, Hinge Health, CogniFit Ltd., Mindable Health, Canary Health, Pear Therapeutics, BehaVR Inc, Smartpatient, Akili Interactive Labs, Inc., 2Morrow, Inc., Welldoc, Cognoa, and Teladoc are some of the major players in the global Digital Therapeutics (DTx) market.
