DataM Intelligence has published a new research report titled: “ Digital Therapeutics Market Size ”. The report explores comprehensive and insightful information on various key factors such as segmentation, CAGR, competitive positioning of business revenue of key companies and investigates factors such as product offerings, pricing strategies, financial performance, product portfolio, growth initiatives, and geographical reach. The objective of the report is to provide a telescopic view of the current market size by value, size, opportunities, and development status.
The Digital Therapeutics Market report mainly focuses on market trends, historical growth rates, technologies, and changing investment structures. The report also presents the latest market insights, growing growth opportunities, business strategies, and growth plans adopted by key players. It also includes an analysis of current market dynamics, future developments, and Porter's Five Forces Analysis.
Global Digital Therapeutics Market Size was valued at USD 5.7 billion in 2023 and is expected to reach USD 27.3 billion by 2031, growing at a CAGR of 21.6% during the forecast period 2024-2031 .
Key Developments:
Launched by Otsuka Precision Health and Click Therapeutics in August 2024, Joyful is a prescription digital therapeutic designed to address the symptoms of major depressive disorder (MDD). Approved by the FDA in March 2024, Joyful is indicated as a supplement to outpatient treatment managed by a clinician in adults 22 years of age and older who are already taking an antidepressant.
Forecast Growth Projections:
The global digital therapeutics market is expected to grow at a significant rate during the forecast period of 2024 to 2031. In 2023, the market is expected to grow at a steady rate and with the increasing adoption of strategies by key players, the market is expected to rise above the projected horizon.
List of Key Players in Digital Therapeutics Market:
Teladoc Health, 2Morrow Inc, Omada Health, Inc, Resmed Inc , Voluntis, Inc, Kaia Health, Biofourmis, Click Therapeutics, Inc, Welldoc's BlueStar, Lark Technologies, Inc
Segments covered in the digital therapeutics market:
By Product Type: Software, Devices, Others.
By Application: Diabetes, Obesity, Cardiovascular Diseases (CVD), Central Nervous System (CNS) Diseases, Respiratory Diseases, Smoking Cessation, Gastrointestinal Disorders (GID), Others. By Sales Channel: Business-to-Business (B2B) (Employers, Healthcare Providers, Payers, Pharmaceutical Companies, Others), Business-to-Consumer (B2C) (Patients, Caregivers).
**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market environment and key strategies being adopted**
This study aims to address the following key questions:
➡What is the projected growth rate of the digital therapeutics market during the forecast period to 2031?
➡What are the key factors driving the digital therapeutics market across various regions?
➡Who are the key vendors in the digital therapeutics industry and what strategies are contributing to their success?
➡What is the expected market scope during the forecast period?
➡What are the key trends impacting industry growth in the coming years?
➡What are the challenges facing the digital therapeutics market?
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