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Recent advances in information technology and biomedical science have enabled the development of a number of versatile digital solutions that are capable of either mimicking or augmenting, the fundamental qualities of pharmacological interventions
Roots Analysis has announced the addition of “Digital Health Market: Focus on Digital Therapeutics (2nd Edition), 2020-2030 (Based on Type of Solution (Software Solution, Gaming Solution and Combination Solution), Type of Therapy (Curative and Preventive), and Purpose of Solution (Medication Replacement and Medication Augmentation” report to its list of offerings.
According to experts, digital therapeutic solutions are primarily based on behavior modification and are designed to address a variety of therapeutic needs across a wide range of disease indications. On the other hand, several digital solutions have been developed to enable remote doctor-patient consultations. Such solutions witnessed a surge in adoptions amidst the COVID-19 pandemic.
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Key Market Insights
Nearly 230 digital therapeutic solutions are currently available / under development
Close to 45% of the aforementioned solutions are standalone software applications targeting more than 60 unique indications.
Over 85% of digital therapeutic solutions are intended to replace medication
Such solutions are currently available / being developed to treat neurological disorders (27%), mental health problems (24%), and certain metabolic disorders (24%). Alternatively, some digital health products are designed to augment the effect of conventional therapeutics and are currently being considered for treating substance use disorders and few mental health problems.
220+ clinical trials, focused on digital therapeutics, have been registered since 2004
Around 80,000 patients have been enrolled in clinical research initiatives aimed to validate the efficacy of digital therapeutics, and generate real world evidence concerning their efficacy and safety. Close to 50% of such trials have been / are being conducted in the US.
Nearly USD 1.9 billion invested by both private and public investors in this domain
~85% of the total capital raised for digital therapeutics-related initiatives was from venture capital investors, featuring over 370 participants.
Partnership activity in this field has grown at a CAGR of ~42%, between 2015 and 2019
More than 70% of the reported deals were established after 2017, with the maximum activity being reported in 2019. Majority of the instances captured in the report were focused on pilot product offering (29%) and research and development agreements (21%).
North America and Europe are anticipated to capture over 70% of the market share by 2030
The market in Asia-Pacific regions is anticipated to grow at a relatively faster pace (23.2%). In 2030, digital solutions targeting metabolic disorders are likely to represent the largest market share, in terms of revenues from product sales (26%), followed by those intended for mental health problems (20%) and neurological disorders (19%).
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Key Questions Answered
The USD 8.86 billion (by 2030) financial opportunity within the digital therapeutics market has been analyzed across the following segments:
The report features inputs from eminent industry stakeholders, according to whom, digital therapeutic solutions are likely to witness enhanced adoption due to their broader applicability, remote guidance and other advanced features, thereby, offering lucrative opportunities to their developers. The report includes detailed transcripts of the discussions held with following industry experts:
The research covers brief profiles of key players engaged in the development of digital therapeutic solutions; other popular industry players featured in the report include:
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