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Redding, California - November 6, 2024

Digital Therapeutics Market to be Worth $56.34 Billion by 2031

Digital Therapeutics Market Size, Share, Forecast, & Trends Analysis by Application (Mental health, Diabetes, Respiratory, Neurology, Addiction, Rehabilitation, Oncology, Sleep Disorder) Type (Disease Prevention, Management) End User-Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Digital Therapeutics Market Size, Share, Forecast, & Trends Analysis by Application (Mental Health, Diabetes, Respiratory, Neurology, Addiction, Rehabilitation, Oncology, Sleep Disorder) Type (Disease Prevention, Management) End User—Global Forecast to 2031.’ According to this latest publication, the digital therapeutics market is projected to reach $56.34 billion by 2031 at a CAGR of 31.5%.

This market is experiencing growth driven by the rising prevalence of chronic diseases, a growing focus on reducing healthcare costs, the increasing adoption of preventative healthcare products, and the broader acceptance of digital healthcare solutions. However, concerns over data privacy related to digital therapeutics (DTx) applications are hindering the market's expansion.

In addition, increasing investment by key players for product development and increasing adoption of DTx in emerging economies are providing opportunities for market growth. However, the low awareness of digital therapeutic products and the lengthy and tedious regulatory approval process are major challenges impacting market growth.

Key Players:

The key players operating in the global digital therapeutics market are Noom, Inc. (U.S.), 2Morrow Inc. (U.S.), GAIA AG (Germany), ResMed Inc. (U.S.), Canary Health (U.S.), Welldoc, Inc. (U.S.), DarioHealth Corp. (U.S.), Akili, Inc. (U.S.), Biofourmis Inc. (U.S.), BigHealth (U.S.), Teladoc Health, Inc. (U.S.), Limbix Health, Inc. (U.S.), Kaia Health Software Inc. (Germany), Glooko, Inc. (U.S.), and Virta Health Corp. (U.S.).

The digital therapeutics market is segmented by Type, Application, and End User.

Among the types studied in this report, in 2024, the disease management and treatment DTx segment is expected to account for the largest share of 76.5% of the digital therapeutics market. The large market share of this segment is driven by the availability of cost-effective mHealth platforms, the growing need to control healthcare costs, substantial investments in digital health, and strategic collaborations among stakeholders to develop and launch digital therapeutic platforms for disease treatment and management.

Among the applications studied in this report, in 2024, the mental health segment is expected to account for the largest share of the digital therapeutics market. The largest share of the segment is attributed to the rising prevalence of mental health issues, such as stress, anxiety, and depression. Additionally, the loss in productivity caused by mental health challenges and the growing demand for cost-effective solutions for managing stress and depression are key factors driving the segment's substantial market share.

Among the end users studied in this report, the individual consumers segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is driven by the growing awareness and approval of digital therapeutic solutions, the widespread adoption of mHealth platforms, and the increasing trend of preventive healthcare among patients. Digital therapeutics software also enables patients to reduce medication dosages by promoting healthier lifestyles and tracking symptoms and health status. Furthermore, the use of digital therapeutic platforms supports patients in self-managing their conditions through continuous monitoring and early detection of disease signs, facilitating preventative care.

Among the geographies studied in this report, in 2024, North America is expected to account for the largest share of 43.6% of the digital therapeutics market. The large share of this market is driven by the growing adoption of digital health products, the rising incidence of chronic diseases, and government initiatives supporting digital healthcare. Additionally, favorable reimbursement policies for digital therapeutics are improving accessibility and affordability of disease management, helping to reduce overall healthcare costs. For example, in the U.S., a group of policymakers reintroduced the "Access to Prescription Digital Therapeutics Act of 2023" in the Assembly, which includes provisions for covering prescription digital therapeutics under Medicaid and Medicare.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5427

Key questions answered in the report-

Which are the high-growth market segments in terms of type, application, end user, and regions/countries?
What was the historical market for digital therapeutics across the globe?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, challenges, opportunities, and trends in the global digital therapeutics market?
Who are the major players in the digital therapeutics market?
How is the competitive landscape, and who are the market leaders in the global digital therapeutics market?
What are the recent developments in the digital therapeutics market?
What do the major players adopt the different strategies in the digital therapeutics market?
What are the geographical trends and high-growth regions/countries?

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Redding, California - November 6, 2024

Digital Therapeutics Market to be Worth $56.34 Billion by 2031

Digital Therapeutics Market Size, Share, Forecast, & Trends Analysis by Application (Mental health, Diabetes, Respiratory, Neurology, Addiction, Rehabilitation, Oncology, Sleep Disorder) Type (Disease Prevention, Management) End User-Global Forecast to 2031

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