Digital therapeutics (DTx) deliver therapeutic interventions directly to patients using employing evidence-based, remote-assessed software to serve, manage, and avert a broad spectrum of behavioral, mental, and physical disorders. They are utilized alone or mix with medications, devices, or other therapies to optimize patient care and health outcomes. Rising remote access to therapies that are clinically tested as safe and effective is one of the properties of digital therapeutics (DTx) during the treatment. It provides easy treatment as per the patient's schedule and in the privacy and safety of their home environment. They are easily available and often accessible through patient-owned devices (smartphones, tablets). The rise in demand for digital therapeutics is increasing worldwide due to the prevalence of chronic diseases such as diabetes and hypertension, which is expected to drive market growth. Moreover, technological advancements have also provided the market with elevated growth.
Access full Report @ https://www.databridgemarketresearch.com/zh/reports/north-america-and-europe-digital-therapeutics-market
According to the report by WHO, "Integrated chronic disease prevention and control," stated that in 2022 the contribution of major chronic diseases is expected to rise to 86% of all deaths and 74% of the global burden of disease.
Data Bridge Market Research analyses that the Europe and North America Digital Therapeutic (DTx) Market is expected to grow at a CAGR of 24.8% in North America and 23.53% in Europe in the forecast period of 2023 to 2030 and is expected to reach USD 12,004.54 million in North America and 3,068.69 million in Europe by 2030. In 2023, the Product and Service Type segment is expected to dominate the market due to rising demand for digital therapeutics in the regions.
INCREASED NUMBER OF PEOPLE USING SMARTPHONES
People in today's world require a smartphone to communicate, buy groceries and take consultation check-ups from doctors. Many people can't think or imagine their life without smartphones. People want to get treated by home based treatment in their comfort rather than following up in the hospitals. So, digital therapeutics acts like a bridge between people receiving treatment by simply staying indoors. With technological advancement and development in countries, more people use smartphones in their daily lives are increasing.
Digital therapeutics is based on software that is easily available on smartphones and easy to handle and use. There is some app-based software which is available on the phones, such as the Mindstrong Health app, Happify app, and Bluestar app among others.
For instance,
- Smartphones, which have a connection to the internet and run apps, are the most found type of mobile phones in 9 of the 11 countries surveyed: Many adults (median of 53%) utilize a smartphone
- With mobile trade sales expected to reach USD 2.92 trillion in 2020, browsing store owners cannot afford to disrepair the significance of having a mobile-optimized networked store to bring more customers and grow their business
- This figure is also growing rapidly over time, recognized by the fact that there were one billion fewer mobile users just four years earlier in 2021. This is projected to grow to 3.8 billion in 2023, an improvement of 52% in a very short five-year period
The advancement in technology has led to an increase in the number of people using smartphones. The rapid growth in e-commerce has made is expected to act as a driver for the market.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Tons, Pricing in USD
|
|
Segments Covered
|
Europe and North America Digital Therapeutic (DTx) Market, By Product & Service Type (Hardware Product, Solutions/Software, and Service), Application (Treatment/ Care-Related Applications and Preventive Applications), Purchase Mode (Group Purchase Organization and Individual), Sales Channel (B2B and B2C), Country (U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, and Rest of Europe)
|
|
Countries Covered
|
U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, and Rest of Europe
|
|
Market Players Covered
|
Noom(U.S.), Atentiv(U.S.), Cognoa(U.S.), Kaia Health(U.S.), Ginger(U.S.), Livongo Health(U.S.), Mango Health(U.S.), Natural Cycles (Sweden), Cognifit (U.S.), Fitbit, Inc.(U.S.), Omada Health Propeller Health(U.S.), Welldoc, Inc.(U.S.), Smart Patient GMBH (Germany), Mindstrong Health(U.S.), Ayogo Health(Canada), Better Therapeutics(U.S.), 2morrow(U.S.), Canary Health(U.S.), Click Therapeutics(U.S.), Pear Therapeutics(U.S.), Voluntis(U.S.), Akili Interactive Labs(U.S.), Samsung(Korea), Resmed(U.S.), and GAIA AG(Germany) among others.
|
|
Data Points Covered in the Report
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
|
Segment Analysis:
The Europe and North America digital therapeutic (DTx) market is categorized into nine notable segments based on product type, business solution, assistance/service type, level of coverage, type of insurance plans, demographics, coverage type, end user, and distribution channel.
- On the basis of product and service type, Europe and North America digital therapeutic (DTx) market is segmented into hardware products, solutions/software and service.
In 2023, the solution/software segment is expected to dominate the North America digital therapeutic (DTx) market
In 2023, the solution/software segment is expected to dominate the North America digital therapeutic (DTx) market with 71.5% market share and is expected to reach USD 8,856.67 million by 2030 from USD 1,469.36 million in 2022, growing with a CAGR of 25.4% in the forecast period of 2023 to 2030. In 2023, the solution/software segment is expected to dominate the Europe digital therapeutic (DTx) market with 58.8% market share and is expected to reach USD 1,871.63 million by 2030 from USD 336.04 million in 2022, growing with a CAGR of 24.2% in the forecast period of 2023 to 2030
- On the basis of application, Europe and North America digital therapeutic (DTx) market is segmented into treatment/ care-related applications and preventive applications. In 2023, the treatment/care-related segment is expected to dominate the North America digital therapeutic (DTx) market with 82.7% market share and is expected to reach USD 10,102.18 million by 2030 from USD 1,703.40 million in 2022, growing with the CAGR of 25.1% in the forecast period of 2023 to 2030. In 2023, the treatment/care-related segment is expected to dominate the Europe digital therapeutic (DTx) market with 83.7% market share and is expected to reach USD 2,608.99 million by 2030 from USD 479.34 million in 2022, growing with a CAGR of 23.8% in the forecast period of 2023 to 2030
- On the basis of purchase mode, the Europe and North America digital therapeutic (DTx) market is segmented into group purchase organization and individual. In 2023, the group purchase organization segment is expected to dominate the North America digital therapeutic (DTx) market with 74.9% market share and is expected to reach USD 8,818.37 million by 2030 from USD 1,552.65 million in 2022, growing with the CAGR of 24.5% in the forecast period of 2023 to 2030. In 2023, the group purchase organization segment is expected to dominate the Europe digital therapeutic (DTx) market with 75.8% market share and is expected to reach USD 2,284.59 million by 2030 from USD 436.31 million in 2022, growing with a CAGR of 23.2% in the forecast period of 2023 to 2030
- On the basis of sales channel, Europe and North America digital therapeutic (DTx) market is segmented into B2B and B2C. In 2023, the B2B segment is expected to dominate the North America digital therapeutic (DTx) market with 75.4% market share and is expected to reach USD 9,205.50 million by 2030 from USD 1,553.44 million in 2022, growing with a CAGR of 25.1% in the forecast period of 2023 to 2030. In 2023, the B2B segment is expected to dominate the Europe digital therapeutic (DTx) market with 76.2% market share and is expected to reach USD 2,379.24 million by 2030 from USD 436.33 million in 2022, growing with a CAGR of 23.8% in the forecast period of 2023 to 2030
Major Players
Data Bridge Market Research recognizes the following companies as the major Digital Therapeutic (DTx) market players in Europe and North America digital therapeutic (DTx) market are Noom(U.S.), Atentiv(U.S.), Cognoa(U.S.), Kaia Health(U.S.), Ginger(U.S.), Livongo Health(U.S.), Mango Health(U.S.), Natural Cycles (Sweden), Cognifit (U.S.), Fitbit, Inc.(U.S.), Omada Health Propeller Health(U.S.), Welldoc, Inc.(U.S.), Smart Patient GMBH (Germany), Mindstrong Health(U.S.), Ayogo Health(Canada), Better Therapeutics(U.S.), 2morrow(U.S.), Canary Health(U.S.), Click Therapeutics(U.S.), Pear Therapeutics(U.S.), Voluntis(U.S.), Akili Interactive Labs(U.S.), Samsung(Korea), Resmed(U.S.), and GAIA AG(Germany) among others.
Market Development
- In January 2023, Pear Therapeutics, Inc. (Nasdaq: PEAR), the leader in developing and commercializing software-based medicines called prescription digital therapeutics (PDTs), announced the inclusion of its PDTs reSET® and reSET-O® on the January 2023 Florida Medicaid Preferred Drug List (PDL). reSET and reSET-O, the only FDA-authorized PDTs for the treatment of substance use disorder and opioid use disorder, respectively, have been added to the Florida Medicaid PDL, effective January 1, 2023
- In December 2022, Click Therapeutics, Inc. (“Click”), a leader in Digital Therapeutics™ as prescription medical treatments, announced that it had received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) for CT-132. Click’s CT-132 prescription digital therapeutic is under development as an adjunctive preventive treatment for episodic migraine in patients aged 18 years and older
- In June 2021, Voluntis (Euronext Growth Paris, Ticker: ALVTX – ISIN: FR0004183960), a leader in digital therapeutics, and its main shareholders announced that they have entered into exclusive negotiations with AptarGroup, Inc. (NYSE: ATR), a global leader in drug delivery, consumer product dispensing and active material science solutions, with respect to a potential acquisition of all outstanding shares of Voluntis by Aptar.
- In October 2020, Livongo entered into a partnership with Guidewell mutual Holding Corporation. With this, Livongo will have access to its select members. Livongo will be able to access Guidewell consumers with diabetes and will help plan their healthcare journey. The members will have an end-to-end virtual care experience, including connected devices, advanced data science, and telehealth. This will help the company in gaining more customers
- In August 2020, ResMed collaborated with Novartis and connected the Propeller Digital Health platform to enerzair and Atectura Breezhaler once-daily drugs available outside the U.S. for asthma treatment. This collaboration is an important step forward in improving patient outcomes and increasing compliance with chronic respiratory illnesses. This will increase the market value of the company
Regional Analysis
Geographically, the countries covered in the Europe and North America Digital Therapeutic (DTx) market report is U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, and the Rest of Europe.
For more detailed information about the Europe and North America digital therapeutic (DTx) market report, click here – https://www.databridgemarketresearch.com/zh/reports/north-america-and-europe-digital-therapeutics-market
