Digital Therapeutics Market size was valued at USD 7.4 Billion in 2023 and is expected to reach USD 106.6 Billion by the end of 2036, registering around 24.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of digital therapeutics is assessed at USD 9.2 Billion.
The market is blooming as a result of the slated growth in chronic diseases and related conditions, which are estimated to increase as about 1 out of 3 adults, suffer worldwide from multiple chronic conditions. According to the National Institutes of Health Report 2023, there has been an increase of about 7% from 67% of deaths in 2010 to 74% of deaths in 2019 globally, which are caused by chronic conditions.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
24.9% |
|
Base Year Market Size (2023) |
USD 7.4 Billion |
|
Forecast Year Market Size (2036) |
USD 106.6 Billion |
|
Regional Scope |
|
Application (Diabetes, Obesity, CVD, Respiratory Diseases, Smoking Cessation, CNS Diseases)
Diabetes segment is set to capture over 29% digital therapeutics market share by 2036. The segment's tremendous growth rate can be propelled by increasing diabetes and several other chronic diseases, which demand a personalized solution for treating patients. According to a report by the International Diabetes Federation in 2021, more than 537 million adults had diabetes in 2021, which is expected to cross 643 million by 2030 and is projected to surpass 783 million by 2045.
Moreover, obesity is poised to hold the second-largest share in this segment, driven by the tremendous growth in the population suffering from obesity. The World Health Organization estimated that in 2024, globally, the data on the obese population has doubled since 1990; meanwhile, adolescent obesity has shown a lucrative growth rate of four times. In addition, in 2022, more than 43% of adults were projected to be overweight, out of which 16% lived with obesity.
End-users (Patients, Providers, Employers, Payers)
By the end of 2036, digital therapeutics segment is expected to capture around 35% digital therapeutics market share due to the increase in patients, healthcare support for health issues and needs, and demand for healthcare. There is also a greater focus on providing more personalized and better care to elderly patients. According to a report by the Census in 2020, the U.S. population above the age of 65 increased by more than 38% from 2010 to 2020 in 10 years. Patients receive individualized care plans based on evidence.
Additionally, digital medicines can assist people-especially those living in rural and isolated areas—to have better access to care.
Our in-depth analysis of the market includes the following segments:
|
Application |
|
|
End-user |
|
North America Market Statistics
North American in digital therapeutics market is set to hold over 40% revenue share by the end of 2036. The landscape's substantial growth in the region is expected to be credited to the surge in chronic illness and neurology devices, coupled with the geriatric population in this region. According to a report by the Centers for Disease Control and Prevention 2020, more than 51.8% of US adults suffer from one chronic condition, and more than 27% are predicted to have multiple chronic conditions.
An increasing augment in healthcare spending in the United States would be a key growth driver for this market value. According to the American Medical Association 2024, U.S. health spending increased by 4% in 2022.
Government of Canada stated that in 2020, about 1 in 3 Canadians in their lifetime will be affected by mental illness. Moreover, it is expected that about 21% of Canadians which is more than 6 million people, who in their lifetime are estimated to meet the criteria for addiction.
Asia Pacific Market Analysis
The Asia Pacific region will also encounter a huge influence on the digital therapeutics market demand during the forecast period and will account for the second position attributed to the increasing aging population. According to the Census 2022, the older population in APAC is expected to be about 20% higher than the total population of the U.S. population.
In China, the growing demand for better medical devices in this region is slated to increase. According to a report in 2024, China’s medical device industry makes up an average of about 20–30% of its international revenue.
There has been an increase in healthcare expenditures in Japan which will increase the market size expansion of the home healthcare sector. According to a report by the National Institutes of Health 2020, on average Japan's average medical expenditure is about USD 3273 per person.
Most of the companies are continuously collaborating, expanding, making agreements, and joining ventures for the growth of this sector and are estimated to be the major key players in this landscape.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?