Definition:
The Digital Therapeutics market refers to the sale of evidence-based, clinically evaluated software programs that deliver therapeutic interventions to patients to prevent, manage, or treat a medical disorder or disease. Digital therapeutics can be used independently or in conjunction with traditional medications and therapies. This market includes products that are used to support the following therapeutic areas: diabetes care, mental and behavioral health, cardiovascular health, and musculoskeletal health.Additional Information:
The Digital Therapeutics market data comprises revenue, average revenue per user, users, and user adoption rates.Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Digital Therapeutics market is experiencing significant growth due to the increasing demand for non-pharmaceutical treatment options and advancements in technology. Customer preferences: Customers are increasingly seeking non-pharmaceutical treatment options for various health conditions. They are looking for personalized and convenient solutions that can be accessed from the comfort of their own homes. Digital therapeutics offer these benefits by providing evidence-based interventions through mobile apps and wearable devices. Trends in the market: One of the major trends in the digital therapeutics market is the integration of artificial intelligence (AI) and machine learning (ML) technologies. These technologies enable the development of personalized treatment plans and predictive analytics, improving the effectiveness of digital therapeutics. Additionally, there is a growing trend towards the use of virtual reality (VR) and augmented reality (AR) in digital therapeutics, providing immersive and engaging experiences for patients. Local special circumstances: In certain countries, there may be specific regulations and reimbursement policies that impact the adoption and growth of digital therapeutics. For example, some countries may have strict regulations for medical apps and require them to undergo rigorous clinical trials before they can be used for treatment purposes. Additionally, reimbursement policies may vary, with some countries providing coverage for digital therapeutics as part of their healthcare systems, while others may not. Underlying macroeconomic factors: The increasing prevalence of chronic diseases, such as diabetes and cardiovascular diseases, is a key macroeconomic factor driving the growth of the digital therapeutics market. These conditions require long-term management and digital therapeutics offer a cost-effective and scalable solution. Additionally, the aging population in many countries is also contributing to the demand for digital therapeutics, as older adults are more likely to have multiple chronic conditions that can be managed through these interventions. In conclusion, the Digital Therapeutics market is experiencing growth due to the increasing demand for non-pharmaceutical treatment options and advancements in technology. Customers are seeking personalized and convenient solutions, leading to the integration of AI, ML, VR, and AR technologies in digital therapeutics. However, the market is influenced by local regulations and reimbursement policies. The prevalence of chronic diseases and the aging population are underlying macroeconomic factors driving the growth of the market.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Data coverage:
The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market market. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights