U.S. Digital Therapeutics Industry Overview
The U.S. digital therapeutics market size was valued at USD 1.48 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 24.8% from 2022 to 2030. The continuously changing digital landscape, rising consumerism in healthcare, the COVID-19 pandemic, and initiatives by key companies are some of the key factors fueling the market growth. In October 2021, Click Therapeutics, Inc. received USD 52 million in Series B funding from multiple investors. This enabled the development and commercialization of the company’s prescription digital therapeutic pipeline, while also helping the company advance its platform capabilities.
Technological advancements aiming to provide transformational healthcare solutions are further anticipated to assist the market growth in the near future. In June 2020, ATAI Life Sciences, in an attempt to enter the digital therapeutics space, launched the IntroSpect Digital Therapeutics platform. The company will provide DTx and precision psychiatry solutions in a probe to combat burgeoning mental health disorders.
Gather more insights about the market drivers, restraints, and growth of the U.S. Digital Therapeutics Market
The increasing number of smartphone users in the U.S. is another key factor driving the market growth. Awareness of smart health tracking is also expected to increase in the country due to the rapid proliferation of smart healthcare devices. Digital therapeutics can offer on-demand care to patients, with the ability to diagnose and treat patients earlier. Moreover, biopharmaceutical companies are collaborating with digital therapeutic providers to give patients a better quality of care, thereby propelling growth.
Despite the advantages of DTx services and a large smartphone user base in the U.S., it never experienced mass consumer adoption before the COVID-19 outbreak. The pandemic created a major growth opportunity for this technology. CMS and FDA have already mentioned the vital nature of virtual care services in the overall COVID-19 response strategy.
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U.S. Digital Therapeutics Industry 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
Market Share Insights:
April 2022: Pear Therapeutics received FDA’s Safer Technologies Program (STeP) Designation as a product candidate for the treatment of acute and chronic pain.
March 2020: The U.S. FDA approved Somryst by Pear Therapeutics for chronic insomnia, which includes algorithm-driven sleep restriction, recommendations, & consolidation.
Key Companies profiled:
Some prominent players in the U.S. Digital Therapeutics Industry include
- 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.
Order a free sample PDF of the U.S. Digital Therapeutics Market Intelligence Study, published by Grand View Research.
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