U.S. Digital Therapeutics Market Predicted to Witness Steady Growth During the Forecast Period

 U.S. Digital Therapeutics Market Growth & Trends

The U.S. digital therapeutics market size is anticipated to reach USD 10.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 24.8% from 2022 to 2030. Growing healthcare consumerism, the availability & development of DTx products, and the rising number of market players are driving the regional market.

SparkRx by Limbix Health, for example, is a digital therapeutic that is indicated for the treatment of adolescent depression. It is available without a prescription since the COVID-19 pandemic, under the FDA’s emergency guidance for digital health devices used in the treatment of psychiatric disorders. The COVID-19 pandemic has expedited the adoption of DTx, especially concerning mental illness and chronic ailments like diabetes and CVS. The U.S. FDA released new guidelines for computerized behavioral therapy and other DTx solutions during this public health emergency.

The organization has waived off guidelines that include 510(k) premarket notifications, registration & listing requirements, and Unique Device Identification (UDI) requirements for DTx therapeutic devices with low risk. For instance, Pear therapeutics launched Pear-004 for psychosis and self-management training post the introduction of the new guidelines. The product needs to be used under a doctor’s supervision.

The need for cost-effective healthcare is increasing globally due to rising healthcare expenditure. Digital health technology is being encouraged and preferred to avoid unnecessary costs and promote cheaper, alternative means of healthcare delivery, thus propelling the market. Moreover, the rising demand for remote monitoring services due to the increasing incidences of chronic diseases worldwide is one of the factors propelling the market growth. Digital therapeutic applications allow patients to manage and treat diseases without constant medical intervention, thereby drastically reducing the healthcare expenditure.

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U.S. Digital Therapeutics Market Report Highlights

• The digital therapeutics market in the U.S. was valued at USD 1.5 billion in 2021 and is expected to advance at a CAGR of 24.8% during the forecast period
• In terms of revenue, diabetes dominated the application segment in 2021. The growth can be attributed to the increasing incidence of this disease and the rising demand for self-management and constant monitoring
• Digital therapeutics solutions find application in 3 key product categories — products to manage a condition, treat a disease, and improve a health function; as such, the demand for these solutions is expected to increase in the coming years owing to the rising burden of chronic disorders
• Based on end-use, the patient segment held the largest revenue share in 2021, owing to the increased adoption of healthcare IT services through AI-driven smartphone apps
• In the wake of the COVID-19 pandemic, patients with chronic diseases have been facing challenges in managing medications, visiting healthcare providers, and maintaining a balanced diet. DTx therapy can be useful in managing patient conditions remotely
• In January 2020, Pear Therapeutics and Crossroads Treatment Centers entered into a partnership to incorporate reSET-O PDT in several opioid use disorder treatment centers located in Pennsylvania, thereby enhancing its market reach

Access Press Release@ https://www.grandviewresearch.com/press-release/us-digital-therapeutics-market-analysis

U.S. Digital Therapeutics Market Segmentation

Grand View Research has segmented the U.S. digital therapeutics market based on application and end-use:

U.S. Digital Therapeutics Application Outlook (Revenue, USD Million, 2017 - 2030)

• Diabetes
• Obesity
• CVD
• Respiratory Diseases
• Smoking Cessation
• CNS Disease
• Others

U.S. Digital Therapeutics End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Patients
• Providers
• Payers
• Employers
• Others

List of Key Players in the U.S. Digital Therapeutics Market

• Omada Health Inc.
• Teladoc Health, Inc.
• 2Morrow Inc.
• Propeller Health (ResMed)
• Fitbit Health Solutions
• Canary Health
• WellDoc, Inc.
• Noom, Inc.
• Pear Therapeutics, Inc.
• Click Therapeutics, Inc.
• Akili Interactive Labs, Inc.
• Better Therapeutics, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.