The global digital therapeutics market is projected to reach USD 17.7 billion by 2027 from USD 4.5 billion in 2022, at a CAGR of 31.6% during the forecast period. Increasing prevalence of chronic diseases, developments in digital therapeutics to curb growing healthcare costs and government initiatives to support the digital therapeutics are driving the market growth.

Key Market Players

The digital therapeutics market is a highly diversified and competitive market, with several emerging players. The prominent players in this market include are Noom, Inc (US), Teladoc Health, Inc. (US), Omada Health, Inc. (US), WellDoc, Inc (US), Pear Therapeutics, Inc. (US), CogniFit Inc (US), Ginger (US), Propeller Health (US), 2Morrow, Inc. (US), Canary Health (US), Click Therapeutics, Inc. (US), Akili, Inc. (US), Cognoa, Inc (US), Wellthy Therapeutics Pvt. Ltd. (India), Twill Inc. (US), Better Therapeutics, Inc (US), Mindstrong (US), Kaia Health (Germany), BehaVR Inc (US), Ayogo (Canada), Mindable Health GmbH (Germany), Virta Health Corp (US), Hinge Health, Inc. (US), Orexo AB (Sweden) and Freespira (US).

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Noom, Inc. (US) is among the world leaders digital therapeutics market in providing high-quality solutions for weight management, diabetes prevention, and stress reduction. Noom has been awarded multiple grants from the National Institutes of Health and provided the first mobile application recognized by the US CDC as a certified diabetes prevention program.

Teladoc Health, Inc. (US) is one of the prominent players digital therapeutics market. The company uses proprietary health signals and personalized interactions to improve health outcomes. It mainly targets diabetes, hypertension, weight management, diabetes prevention, and mental health. In February 2022, Teladoc Health, Inc. launched the Chronic Care Complete program, a chronic condition management solution to help individuals improve their health outcomes while living with multiple chronic conditions.

Omada Health, Inc (US)  is one of the leading player digital therapeutics market. The company provides integrated, virtual care across chronic conditions, a top clinical need for employers and health plans. the company secured USD 73 million from its investors to develop digital care health programs focusing on preventable chronic conditions.

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Recent Developments:

·         Philips and Wellbeing Digital Solutions: In April 2021, Philips announced the acquisition of Wellbeing Digital Solutions (WDS). WDS is a digital therapeutics company that develops digital solutions to improve patient engagement and outcomes in chronic conditions. The acquisition will allow Philips to expand its portfolio of digital health solutions and capabilities in chronic disease management and remote care.

·         Novartis and Akili Interactive Labs: In June 2021, Novartis announced that it has entered into a definitive agreement to acquire Akili Interactive Labs, a digital therapeutics company focused on developing treatments for neurological and psychological conditions. Through the acquisition, Novartis will gain access to Akili’s digital therapeutics platform, which includes a library of clinical evidence and a portfolio of digital therapeutics programs in development.

·         Merck and HealthPrize Technologies: In January 2021, Merck announced that it has entered into a definitive agreement to acquire HealthPrize Technologies, a digital therapeutics company focused on helping patients stay on top of their medications. The acquisition will enable Merck to enhance its digital health offerings and expand its presence in the digital therapeutics market.

·         Illumina and GRAIL: In January 2021, Illumina announced that it has entered into a definitive agreement to acquire GRAIL, a digital therapeutics company focused on developing and commercializing multi-cancer early detection products. Through the acquisition, Illumina will gain access to GRAIL’s patented technologies and products, which will enable the company to expand its portfolio of healthcare solutions.

Digital Therapeutics Market Advantages:

1. Increased Treatment Adherence: Digital therapeutics are particularly useful for conditions such as chronic diseases, where the standard of care requires long-term adherence to treatment plans.

2. Personalized Care: Digital therapeutics can offer personalized care tailored to each user based on their unique needs. This can result in improved health outcomes and increased patient satisfaction.

3. Cost Savings: Digital therapeutics can provide an alternative to expensive treatments and lab tests, resulting in significant cost savings for patients and health systems.

4. Improved Access: Digital therapeutics can make it easier for patients to access treatment remotely, reducing the need for costly in-person visits. This can help to improve access to care for underserved populations.

5. Better Outcomes: Digital therapeutics can help to improve patient outcomes by providing more accurate and timely data to physicians. This can help to inform more informed decision-making.

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