According to a recent study published by Future Market Insights, the digital therapeutics and wellness market is expected to reach US$ 26 Billion by 2032, expanding at a high CAGR of 14.3%. The cost-effectiveness of digital health technology for providers & patients, and increasing demand for integrated healthcare systems & patient-centric care are other factors that are expected to boost the market growth over the analysis period.
From 2015 to 2021, digital therapeutics and wellness demand expanded at a CAGR of 34%, concluding at a market value of US$ 5.2 Billion. In addition, increasing incidence of preventable chronic diseases, an increase in government funding for healthcare, an increase in digitalization in industries, and increasing management of mental and chronic disorders are some other factors that are expected to fuel the growth of digital therapeutics and wellness market.
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Key Takeaways from the Market Study
- Global digital therapeutics and wellness market to be valued at US$ 6.9 Billion by 2022-end
- U.S to account for the highest value share of US$ 9.3 Billion for digital therapeutics and wellness
- China to emerge as the 2nd most opportunistic market, expected to flourish at a 13.7% CAGR
- U.K, Japan and South Korea to jointly yield a dollar opportunity worth US$ 2.3 Billion until 2032
- By type, digital therapeutics and wellness software to experience major uptake, growing at a 13.9% CAGR
- Cardiovascular disease and hypertension to emerge as the primary application area, growing at a 13.4% CAGR
Competitive Landscape
Players in the global digital therapeutics and wellness market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
- In April 2021, Welldoc (US) 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 (US) partnered with Sprectrum Health Systems (US). Tufts Health Plan and Spectrum Health Systems announced a 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 January 2020, Crossroads Treatment Centers (US) collaborated with Pear Therapeutics (US) to implement the company’s digital platform reSET-O to help patients with opioid abuse and addiction.
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Know More about What the Digital Therapeutics and Wellness Market Report Covers
Future Market Insights offers an unbiased analysis of the global Digital Therapeutics and Wellness Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the Digital Therapeutics and Wellness Market, the market is segmented on the basis of type and application across five major regions.
Key Segments Covered in the Digital Therapeutics and Wellness Market Study
Digital Therapeutics and Wellness by Type:
- Digital Therapeutics and Wellness Software
- Digital Therapeutics and Wellness Devices
Digital Therapeutics and Wellness by Application:
- Digital Therapeutics and Wellness for Cardiovascular Disease and Hypertension
- Digital Therapeutics and Wellness for Diabetes and Prediabetes
- Digital Therapeutics and Wellness for Obesity and Weight Loss
- Digital Therapeutics and Wellness for Smoking Cessation
- Other Digital Therapeutics and Wellness Applications
- Digital Wellness Applications
Digital Therapeutics and Wellness by Region:
- North America Digital Therapeutics and Wellness Market
- Latin America Digital Therapeutics and Wellness Market
- Europe Digital Therapeutics and Wellness Market
- Asia Pacific Digital Therapeutics and Wellness Market
- Middle East and Africa Digital Therapeutics and Wellness Market
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About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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