Ultra Market Research | U.S. Digital Therapeutics Market
U.S. Digital Therapeutics Market
Report ID : 618
Category : Healthcare-Services
No Of Pages : 120
Published on: August 2024
Status: Published
Format :
Key Question Answer
Global Market Outlook
In-depth analysis of global and regional trends
Analyze and identify the major players in the market, their market share, key developments, etc.
To understand the capability of the major players based on products offered, financials, and strategies.
Identify disrupting products, companies, and trends.
To identify opportunities in the market.
Analyze the regional penetration of players, products, and services in the market.
Comparison of major players financial performance.
Evaluate strategies adopted by major players.
Recommendations
U.S. Digital Therapeutics Market Digital therapeutics market in the United States was valued at US$ XX billion in 2023 and is projected to reach US$ XX billion by 2033, with a compound annual growth rate (CAGR) of XX% from 2024 to 2033. Digital therapeutics (DTx), which provide software-driven, evidence-based treatment interventions, are a major growing element in the U.S. healthcare market. These patient-facing applications offer clinically validated advantages to help people prevent, manage, or treat medical conditions. Through the use of technology to deliver focused interventions, DTx solutions improve patient outcomes while also providing healthcare professionals with a scalable and economical substitute for conventional therapy. U.S. digital therapeutics market is experiencing strong growth due to the growing acceptance of DTx, which is a reflection of a trend towards individualized healthcare solutions and the integration of digital tools in clinical practice. . Market Overview Within the larger context of digital health, which includes platforms and technology targeted at improving the delivery of healthcare, the U.S. market for digital medicines is expanding at an accelerated rate. Through scientifically reviewed software, digital therapies (DTx) directly provide patients with evidence-based treatment options, simplifying the management of their conditions. To encourage behavioral changes and enhance patient outcomes, these interventions make use of a variety of digital tools, like as smartphone apps, sensors, virtual reality, and Internet of Things devices. DTx solutions are made to be extremely flexible, allowing for both stand-alone use and integration with conventional therapy. They also allow for the customization of treatment programs to meet the specific needs of each patient. Digital data gathering and analysis facilitates proactive healthcare management in addition to acting as progress markers. DTx development is set to grow as the digital health industry continues to change, providing scalable and efficient alternatives for healthcare delivery across the country.
Key Insights
• Based on end use, the patient segment dominated the market growth. • On the basis of the product, the software segment is projected to hold the largest market share. • On the basis of application, the diabetes segment holds the biggest market share.
Report Highlights By Application Applications are divided into different healthcare categories in the U.S. market for digital therapeutics: diabetes, obesity, disorders of the central nervous system (CNS), cardiovascular disease (CVD), gastrointestinal disorders (GID), respiratory diseases, smoking cessation, and others. Due to the high prevalence of diabetes across the country, the diabetes category holds the greatest market share among them. Patients can track vital indicators in real-time, such as blood glucose levels, physical activity, and medication adherence, thanks to digital treatments. Through the use of software that analyzes this data, people are given the ability to actively manage their condition by receiving individualized recommendations and instant feedback. Digital treatments dramatically improve results and elevate the quality of life for American diabetics by providing tools that improve self-management and treatment adherence.
By Product Products in the U.S. digital therapeutics market are divided into two segments: software and devices. During the forecast period, the software segment is expected to hold a dominant market share. The term "digital therapeutics" (DTx) refers to advanced software programs that help people treat a variety of illnesses. Among other features, these software programs include behavioral advice, medicine reminders, workout schedules, and health-related advice based on the specific requirements of each patient. DTx products, in contrast to other wellness applications, go through a rigorous clinical validation process to guarantee efficacy on par with pharmacological interventions. They address a wide range of conditions, including obesity, type 2 diabetes, anxiety, depression, congestive heart failure, and ADHD (attention deficit hyperactivity disorder). This demonstrates their adaptability and therapeutic significance in the management of diseases and adherence to therapy.
By End User Patients, providers, payers, employers, and other end-user categories make up the U.S. market for digital therapies; the patient segment is the main driver of this industry's growth. Digital therapy solutions play a critical role in improving medication adherence by offering patients individualized prods that encourage long-lasting behavioral adjustments. Digital therapies are vital for maintaining compliance with recommended dose regimens, especially for patients with long-term diseases like diabetes and COPD. These solutions give patients the ability to better manage their health outcomes and increase overall treatment adherence by utilizing technology to deliver personalized interventions and real-time feedback. Growing emphasis of businesses on containing healthcare expenditures for staff members is expected to propel the expansion of the employer segment in the U.S. digital therapeutics market over the forecast period. It is anticipated that this strategic focus would encourage substantial segment expansion. Digital treatments were not typically covered by employers' benefits plans in the past. There has been a change as more businesses see how important it is to provide digital therapy options in order to draw and keep talent. Employers who put their employees' health and well-being first are given preference by both current and potential employees. With the use of mobile applications, employees can conveniently and effectively use digital therapies at any time and from any location. This accessibility raises engagement and gives workers the power to take charge of their health, which improves worker productivity and general well-being.
Market Dynamics Driver Integration of Digital Therapeutics in Healthcare By enabling doctors to provide evidence-based clinical interventions, digital therapies, when combined with other digital health platforms, have the potential to completely transform the healthcare industry. These interventions play a critical role in improving patients' overall health outcomes by offering specialized medical treatments that are approved by regulators and compensated. Healthcare professionals may prescribe digital therapeutics as stand-alone treatments or in combination with conventional medications or therapies. These treatments are categorized under particular ICD-10 diagnosis codes. Fact that DTx products are now reimbursed under both public and private health coverage plans highlights how widely accepted and used they are in clinical settings. Regulatory agencies like the FDA thoroughly assess the safety and efficacy of DTx products, which are developed under strict regulatory procedures and data security measures, guaranteeing their dependability and performance in clinical settings. The clinical validation process and the regulatory framework are the main factors driving the U.S. digital therapeutics market's expansion.
Restraints Safeguarding Patient Data and Cybersecurity Challenges Digital medicines continue to face substantial cybersecurity challenges since healthcare data is highly valuable to cybercriminals and is sensitive. Because DTx platforms gather and analyze vast amounts of personal health data, they are easy targets for cyberattacks. DTx businesses need to use strong data security procedures and encryption methods to reduce these risks and shield patient data from unwanted access. To proactively detect and resolve any vulnerabilities and ensure compliance with strict regulatory requirements, regular security audits are crucial. Although resolving these cybersecurity issues is essential for fostering confidence between patients and healthcare professionals, it also stands in the way of the U.S. digital therapeutics market's expansion and broad adoption.
Opportunities Integration of Advanced Technologies A paradigm shift toward digitally enabled healthcare solutions is being driven by technological developments in the field of medicine, such as wearable health monitoring devices, deep learning, and artificial intelligence (AI). Demand for digital treatments has increased as a result of patients' growing need for individualized and convenient care. These developments enable doctors to provide evidence-based clinical interventions that improve overall health outcomes, in conjunction with other digital health platforms. . Digital pharmaceuticals improve care efficiency, customisation, and accuracy by utilizing advanced analytics and data integration. Businesses who make the necessary investments to create the requisite technology infrastructure and form strategic alliances will have a major competitive edge. These innovators are well-positioned to benefit from the increasing need for digital health solutions by building strong technological foundations and cultivating cooperative ties, which will ultimately shape the future of the digital therapeutics sector in the United States.
Recent Developments
• In October 2023, Sidekick Health announced a landmark acquisition, expanding its portfolio to offer regulated Prescription Digital Therapeutics • In July 2023, Big Health announced the acquisition of Limbix, a maker of digital therapeutics focused on teenage mental health
Key Players in the U.S. Digital Therapeutics Market Omada Health Inc. 2Morrow Inc. Teladoc Health, Inc Pear Therapeutics (U.S), Inc. Fitbit Health Solutions Welldoc, Inc Click Therapeutics Noom, Inc. Akili, Inc. Better Therapeutics, Inc
Market Segmentation By Application Diabetes Obesity Central Nervous System Diseases Cardiovascular Disease (CVD) Respiratory Disease Smoking Cessation Gastrointestinal Disorder (GID) Others By Product Software Device By End Use Patients Providers Payers Employers Others
Table of content 1. Introduction 1.1. Report Description 1.2. Research Methodology 1.2.1. Data Mining 1.2.2. Market Modeling and Forecasting 1.2.3. Data Validation 1.2.4. Industry Analysis
4. U.S. Digital Therapeutics Market by Application Type 4.1. Introduction 4.2. U.S. Digital Therapeutics Market Size and Growth Rate by Application Type (2021-2030) 4.3. Diabetes 4.3.1. Diabetes Market Size and Growth Rate (2022 - 2030) 4.4. Obesity 4.4.1. Obesity Market Size and Growth Rate (2022 - 2030) 4.5. Central Nervous System Diseases 4.5.1. Central Nervous System Diseases Market Size and Growth Rate (2021-2030) 4.6. Cardiovascular Disease (CVD) 4.6.1. Cardiovascular Disease (CVD) Market Size and Growth Rate (2021-2030) 4.7. Respiratory Disease 4.7.1. Respiratory Disease Market Size and Growth Rate (2021-2030) 4.7. Smoking Cessation 4.7.1. Smoking Cessation Market Size and Growth Rate (2021-2030) 4.9. Gastrointestinal Disorder (GID) 4.9.1. Gastrointestinal Disorder (GID) Market Size and Growth Rate (2021-2030) 4.10. Others 4.10.1. Others Market Size and Growth Rate (2021-2030)
5. U.S. Digital Therapeutics Market by Product Form 5.1. Introduction 5.2. U.S. Digital Therapeutics Market Size and Growth Rate by Product Form (2021-2030) 5.3. Software 5.3.1. Software Market Size and Growth Rate (2021-2030) 5.4. Device 5.4.1. Device Market Size and Growth Rate (2021-2030)
6. U.S. Digital Therapeutics Market by End Use 6.1. Introduction 6.2. U.S. Digital Therapeutics Market Size and Growth Rate by End Use (2021-2030) 6.3. Patients 6.3.1. Patients Market Size and Growth Rate (2021-2030) 6.4. Providers 6.4.1. Providers Market Size and Growth Rate (2021-2030) 6.5. Payers 6.5.1. Payers Market Size and Growth Rate (2021-2030) 6.6. Employers 6.6.1. Employers Market Size and Growth Rate (2021-2030) 6.6. Others 6.6.1. Others Market Size and Growth Rate (2021-2030)
7. Company Profiles 7.1. Omada Health Inc. 7.1.1. Business Overview 7.1.2. Application Portfolio 7.1.3. Strategic Developments 7.1.4. Financial Overview
7.2. 2Morrow Inc. 7.2.1. Business Overview 7.2.2. Application Portfolio 7.2.3. Strategic Developments 7.2.4. Financial Overview
8. List of Tables and Figures Table U.S. Digital Therapeutics Market Size and Market Share by Application Type (2021-2023) Table U.S. Digital Therapeutics Market Size and Market Share by Application Type (2023-2030) Figure Diabetes Market Size and Growth Rate (2021-2030) Figure Obesity Market Size and Growth Rate (2021-2030) Figure Central Nervous System Diseases Market Size and Growth Rate (2021-2030) Figure Cardiovascular Disease (CVD) Market Size and Growth Rate (2021-2030) Figure Respiratory Disease Market Size and Growth Rate (2021-2030) Figure Smoking Cessation Market Size and Growth Rate (2021-2030) Figure Gastrointestinal Disorder (GID) Market Size and Growth Rate (2021-2030) Figure Others Market Size and Growth Rate (2021-2030)
Table U.S. Digital Therapeutics Market Size and Market Share by Product Form (2021-2023) Table U.S. Digital Therapeutics Market Size and Market Share by Product Form (2023-2030) Figure Software Market Size and Growth Rate (2021-2030) Figure Device Market Size and Growth Rate (2021-2030) Table U.S. Digital Therapeutics Market Size and Market Share by End Use (2021-2023) Table U.S. Digital Therapeutics Market Size and Market Share by Route of Administration (2023-2030) Figure Patients Market Size and Growth Rate (2021-2030) Figure Providers Market Size and Growth Rate (2021-2030) Figure Payers Market Size and Growth Rate (2021-2030) Figure Employers Market Size and Growth Rate (2021-2030) Figure Others Market Size and Growth Rate (2021-2030)
Table U.S. Digital Therapeutics Market by Regions (2021-2023) Table U.S. Digital Therapeutics Market by Regions (2023-2030) Figure United States U.S. Digital Therapeutics Market Size and Growth Rate (2021-2030) Table United States U.S. Digital Therapeutics Market by Application Type (2021-2023) Table United States U.S. Digital Therapeutics Market by Application Type (2023-2030) Table United States U.S. Digital Therapeutics by Product Form (2021-2023) Table United States U.S. Digital Therapeutics by Product Form (2023-2030)
Table Olympus Corporation U.S. Digital Therapeutics Financial Overview Table Omada Health Inc. U.S. Digital Therapeutics Financial Overview Table 2Morrow Inc. U.S. Digital Therapeutics Financial Overview Table Teladoc Health, Inc U.S. Digital Therapeutics Financial Overview Table Pear Therapeutics (U.S), Inc. U.S. Digital Therapeutics Financial Overview Table Fitbit Health Solutions. U.S. Digital Therapeutics Financial Overview Table Welldoc, Inc U.S. Digital Therapeutics Financial Overview Table Click Therapeutics U.S. Digital Therapeutics Financial Overview Table Noom, Inc. U.S. Digital Therapeutics Financial Overview Table Akili, Inc.U.S. Digital Therapeutics Financial Overview Table Better Therapeutics, Inc U.S. Digital Therapeutics Financial Overview
Research Methodology
The process of market research at Ultra Market Research is an iterative in application and usually follows following path. Information from secondary used to build data models, then results from data models are validated from primary participants. Then cycle repeats where, according to inputs from primary participants, additional secondary research is done and new Information is again incorporated into data model. The process continues till desired level of Information is not generated
To calculate the market size, the report considers the revenue generated from the sales of Ultra Market Research providers. The revenue generated from the sales of Ultra Market Research has been calculated through primary and secondary research. The report also presents the key players operating in the Ultra Market Research market across the globe identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes distribution channel segmentation determined using secondary sources and verified through primary sources.
Secondary Research
The secondary research source that are typically referred to include, but are not limited to:
Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
Internal and external proprietary databases, relevant patent and regulatory databases
National government documents, statistical databases and market reports
News articles, press releases and web-casts specific to the companies operating in the market
The source for secondary research includes but is not limited to: Factiva, Hoovers and Statista
Inner Circle Represents – Stage of Research Process
Middle Circle Represents – Source of Information
Outer Circle Represents – Information Derived from that source
Primary Research We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following functions:
It provides first-hand Information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
Helps in validating and strengthening the secondary research findings
Further develops the analysis team’s expertise and market understanding
Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies
The participants who typically take part in such a process include, but are not limited to:
Industry participants: CEOs, VPs, marketing/ distribution channel managers, market intelligence managers and national sales managers
Purchasing managers, technical personnel, distributors and resellers
Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
Key opinion leaders specializing in different areas corresponding to different industry distribution channels
Models Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data distribution channels to produce estimates:
Demographic data: Population split by segment
Macro-economic indicators: GDP, etc.
Industry indicators: Expenditure, distribution channel stage & infrastructure, sector growth and facilities.
Data is then cross checked by the expert panel.
2..1 Company Share Analysis Model
Company share analysis is used to derive the size of Global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps: 2..2 Revenue Based Modeling
Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach where as it acts as starting point for top-down approach.
2.1 Research Limitations Inflation is not a part of pricing in this report. Prices of Over the Counter (OTC) Drugs and its derivatives vary in each region and hence similar revenue ratio does not follow for each individual region. The same price for each distribution channel has been taken into account while estimating and forecasting market revenue Globally. Regional average price has been considered while breaking down this market by application in each region. This report provides market size of U.S. Digital Therapeutics Market for the past year and forecasts for the next six years. U.S. Digital Therapeutics Market size is given in terms of revenue. Market revenue is defined in USD Million. Market numbers are given on the basis of different U.S. Digital Therapeutics Market categories. Market size and forecasts for each major application is provided in the context of Global market. The numbers provided in this report are derived on the basis of demand for U.S. Digital Therapeutics from different application industries in different regions.
Market Segmentation By Application Diabetes Obesity Central Nervous System Diseases Cardiovascular Disease (CVD) Respiratory Disease Smoking Cessation Gastrointestinal Disorder (GID) Others By Product Software Device By End Use Patients Providers Payers Employers Others
