Digital therapeutics (DTx) is a subset of digital health and uses scientifically tested and evidence-based disease management software to deliver therapeutic interventions directly to patients. The growing prevalence of chronic diseases and the shortage of healthcare professionals drive the growth of the digital therapeutics market. Chronic diseases are increasing globally. According to the WHO, globally, chronic diseases account for 74% of deaths each year, that is, the death of 41 million people each year. Chronic diseases can be managed by continuous monitoring and lifestyle change. Software solutions used in digital therapeutics can improve the outcomes for patients with chronic diseases.
Emerging nations are witnessing a notable increase in the prevalence of chronic diseases, which can be attributed to several factors, including changes in lifestyle, rising alcohol consumption, and a growing prevalence of obesity.
Additionally, countries such as Brazil, India, and China are facing the issue of a shortage of workforce and increasing healthcare expenditure for chronic disease management. According to OECD, in 2020, France had 3.17 doctors per 1,000 people, which is less than the average of other European countries. Such a shortage of healthcare professionals is expected to drive the market for out-of-hospital treatment by digital therapeutics platforms.
Government bodies across the globe are investing in advanced digital technologies to digitalize their healthcare infrastructure and reduce the burden on public healthcare systems. For instance, in March 2021, European Commission adopted the EU4Health program for the period of 2021–2027 with an investment of USD 6.03 billion (EUR 5.1 billion) in the healthcare sector for disease prevention, health promotion, digital transformation of the healthcare system, integration of digital services & tools, and other areas of intervention. Similarly, In 2020, Brazil approved a Brazilian National Digital Health Strategy 2020–2028 to expand and combine Brazil’s initiatives on the digital transformation of healthcare. Brazil’s Ministry of Health also announced an investment of USD 83 Million for 2020–2028 to digitalize the public basic healthcare system. Such government initiatives are expected to drive the growth of the global digital therapeutics market.
Growing product pipeline of digital therapeutics platforms and rising investment funding received by key players for product development and advancements are driving the market. For instance, in December 2021, Limbix Health, Inc. raised funding of USD 15 million to develop mental health solutions for adolescents. In May 2021, Noom Inc. (U.S.) received funding of USD 540 million to leverage its behavior-change platform into virtual treatments for high blood pressure, diabetes, stress and sleep. Furthermore, the growing R&D pipeline for digital therapeutics products is providing opportunities for market growth. For instance, Cognoa, Inc. (U.S.), Better Therapeutics (U.S.), Click Therapeutics, Inc. (U.S.), and others have several products in the pipeline for insomnia, diabetes, hypertension, and other disorders.
The increasing penetration of smartphones and the Internet is further supporting the growth of the digital therapeutics market. The availability of Internet services is increasing the accessibility of digital therapeutic applications. According to Cisco Systems, Inc. (U.S.) annual report, the total population using the Internet in 2023 will rise to 66% (5.3 billion users) from 51% (3.9 billion users) in 2018. With the increased availability of smartphones and the Internet, patients can access digital therapeutics mobile applications for self-testing, and doctors can prescribe applications for disease management even in the long term.
Rising government policies for digital health, the rising prevalence of chronic diseases, and the increasing usage of smartphones and the Internet drive the global digital therapeutics market. This is expected to drive the global digital therapeutics market is projected to reach $ 42.98 billion by 2030, at a CAGR of 31.1%, according to Meticulous Research®.
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