Exploring U.S. Digital Therapeutics Market : to Grow at a CAGR of 19.2% from 2020 to 2027

U.S. Digital Therapeutics Market  - Infographics -AMR

U.S. Digital Therapeutics Market - Infographics -AMR

The U.S. digital therapeutics market was valued at $1.16 billion in 2019 and is expected to reach $5.08 billion by 2027 with a CAGR of 19.2% from 2020 to 2027.

The business-to-business (B2B) segment accounted for maximum share in the U.S. digital therapeutics market in 2019.”
— Allied Market Research

WILMINGTON, DELAWARE , UNITED STATES, April 3, 2024 /EINPresswire.com/ -- The U.S. digital therapeutics market was valued at $1.16 billion in 2019 and is expected to reach $5.08 billion by 2027 with a CAGR of 19.2% from 2020 to 2027.

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Digital therapeutics, a subset of digital health, delivers evidence-based therapeutic interventions via software programs and devices to manage, prevent, and treat medical disorders, utilizing digital and online health technologies. It provides clinical-grade interventions and facilitates tracking of health data for patients and physicians. Remote monitoring is also offered to address long-term health issues.

Amidst the COVID-19 pandemic, there's a surge in the distribution of digital therapeutics for mental health, propelling the growth of the U.S. market. This trend underscores the acknowledgment by the U.S. FDA of the significance of these products. Venture funding for U.S. digital health companies reached a record high in the first half of 2020, reflecting investor confidence in these solutions, further fueling market expansion.

Factors driving market growth include the rising adoption of smartphones, tablets, and wearables, alongside healthcare apps, coupled with the need to control healthcare costs and the increasing prevalence of chronic diseases. Additionally, advancements in technology and tech-driven healthcare products bolster market growth. However, challenges such as lack of reimbursement policies and concerns about patient data privacy hinder market expansion.

Despite these challenges, favorable regulations for digital health technology and increasing investments present lucrative opportunities for manufacturers in the U.S. digital therapeutics industry.

The obesity segment is anticipated to witness significant growth, with a forecasted CAGR of 22.1%, driven by the increasing obese population in the U.S., as reported by the CDC.

In 2019, the software segment dominated the U.S. digital therapeutics market, holding about two-thirds of its share. This dominance is attributed to the widespread penetration of smartphones, leading to increased usage of healthcare applications.

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Software is expected to be one of the most lucrative segments, registering a CAGR of 20.3% during the forecast period.
The business-to-business (B2B) segment accounted for maximum share in the U.S. digital therapeutics market in 2019, and is expected to grow at a CAGR of 18.8% during the forecast period.
Based on business-to-consumers (B2C) segment, the patients segment is expected to project with the highest CAGR throughout the forecast period.
By application, the diabetes segment generates the largest revenue in 2019, and is anticipated to continue this trend during the forecast period.

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This report provides a detailed quantitative analysis of the current U.S. digital therapeutics market trends and forecast estimations from 2020 to 2027, which assists to identify the prevailing market opportunities.
An in-depth market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate country-specific plans.
A comprehensive analysis of factors that drive and restrain growth of the market is provided.
Country-wise market conditions are comprehensively analyzed in this report.
The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2027, in terms of value.
An extensive analysis of the market provides insights that are expected to allow companies to strategically plan their business moves.
Key market players within the U.S. digital therapeutics market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of the market.

π‘²π’†π’š π‘΄π’‚π’“π’Œπ’†π’• π‘·π’π’‚π’šπ’†π’“π’”
Fitbit, Inc. (Twine Health, Inc.)
Livongo Health, Inc.
Medtronic Plc.
Omada Health, Inc.
Pear Therapeutics, Inc.
Proteus Digital Health, Inc.
Resmed, Inc. (Propeller Health)
Voluntis, Inc.
Welldoc, Inc.

David Correa
Allied Market Research
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