The Global Digital Therapeutics Market is projected to reach $22.63 billion by 2028, from a value of $5.34 billion in 2022, by registering a CAGR of 27.2% during the forecast period. Rising need to control healthcare costs, patient convenience and user-friendliness, and unexplored therapeutic applications are the major factors propelling the growth of the market. However, reluctance among patients to adopt digital therapeutics and patient data privacy concerns are hampering market growth. Moreover, increase in venture capital investments, rising focus on preventive healthcare, and growing incidence of preventable chronic diseases are creating ample opportunities across the globe.
Recent Developments
In December 2021, Teladoc expanded its partnership with the National Labor Alliance for offering its full suite of virtual care products and services. These products and services included specialty care, general medical, expert medical services, mental health, virtual primary care programs, and chronic condition management.
In April 2021, Welldoc partnered with Dexacom (US). This partnership helped provide BlueStar with Dexcom G6 CGM as a single platform to people with Type 2 diabetes for improved health.
In March 2021, Pear Therapeutics partnered with Sprectrum Health Systems (US). Tufts Health Plan and Spectrum Health Systems announced collaboration with Pear Therapeutics to test FDA-approved digital therapeutics to help people with substance use disorders and improve their recovery journeys by delivering solutions for improved treatment access and care innovation journeys by delivering solutions for improved treatment access and care innovation.
In February 2021, Philips announced the acquisition of BioTelemetry, Inc., one of the leading US-based providers of remote cardiac diagnostics and monitoring, therapeutic devices, telehealth, and informatics to transform the delivery of health care with integrated solutions.
Competitive Landscape
2Morrow, Inc, Akili Interactive Labs, Inc, Canary Health, Inc, Click Therapeutics, Inc, Happify, Inc, Kaia Health, Livongo Health, Inc, Mango Health, Inc, Medtronic Plc, Noom Health, Inc, Omada Health, Inc, Pear Therapeutics, Inc, Philips, Propeller Health, Proteus Digital Health, Inc, Teladoc, Twine Health, Inc, Voluntis, Inc, and Welldoc, Inc are some of the major players in the global Digital Therapeutics market.
