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According to the latest report by IMARC Group, titled “Digital Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global digital therapeutics market size reached US$ 4.2 Billion in 2021. Digital therapeutics (DTx) is a subset of cognitive-behavioral therapy that is utilized to deliver evidence-based treatment interventions to patients. It adopts various software programs, wearable devices, digital data, and an internet connection to diagnose, treat, prevent, and manage physical and mental illnesses. They find application in conditions, such as Alzheimer’s disease, type 2 diabetes, asthma, gastrointestinal problems, and chronic pulmonary disease. DTx can be used as a standalone therapy or in conjunction with conventional treatments, including in-person and pharmacological therapies, to enhance the effectiveness of health care.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Digital Therapeutics Market Trends:
The DTx market is majorly being driven by the rising prevalence of chronic diseases, along with the shifting inclination toward preventive treatment solutions and the increasing need to lower healthcare costs. Additionally, the inflating sales of smart devices due to the availability of high-speed internet connectivity has further led to an increase in the adoption of digital devices amongst consumers for accessible, engaging, and personalized medical solutions. This, in turn, is contributing to the market growth. Moreover, rising awareness regarding the benefits of DTx, such as patient convenience, and improved drug compliance, is acting as another growth-inducing factor. Other than this, leading pharmaceutical companies are consistently investing in research and development (R&D) activities to introduce advanced production technologies and expand their product portfolio, which is creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 21.7% during 2022-2027.
Market Summary:
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