The Latest Digital Therapeutics Industry Statistics Explained
According to Grand View Research, the global digital therapeutics market size was valued at USD 3.82 billion in 2020.
This statistic indicates that as of 2020, the global digital therapeutics market was estimated to be worth USD 3.82 billion. Digital therapeutics refer to evidence-based therapeutic interventions delivered through software programs and devices aiming to manage or prevent health conditions. The value reflects the revenue generated from the sale of digital therapeutics products and services worldwide. This market size suggests a growing trend towards using technology for healthcare solutions, with an increasing number of individuals and healthcare providers adopting digital therapeutics as a way to complement traditional medical treatments.
The same source predicts that the digital therapeutics market will expand at a compound annual growth rate (CAGR) of 20.3% from 2021 to 2028.
The statistic indicates that the digital therapeutics market is projected to experience substantial growth over the period from 2021 to 2028, with a compound annual growth rate (CAGR) of 20.3%. This means that the market is expected to increase by an average of 20.3% each year during this timeframe. A CAGR is a useful metric for measuring the annual growth rate of an investment or market that experiences significant fluctuations. In the case of digital therapeutics, this growth rate suggests a rapidly expanding market driven by factors such as technological advancements, increasing adoption of digital health solutions, and a shifting focus towards preventive healthcare and personalized medicine.
According to PCI Ventures, digital therapeutics companies raised over $900 million in funding in 2019.
The statistic provided by PCI Ventures highlights the significant growth and investment in the digital therapeutics industry in 2019. Specifically, it states that companies within this sector collectively secured over $900 million in funding within that year. This data showcases the increasing interest and financial support for innovative digital solutions aimed at improving health outcomes and treating various medical conditions. The substantial amount of funding raised by these companies indicates a strong market potential and investor confidence in the future success and impact of digital therapeutics in healthcare.
BCC research indicates that the global digital therapeutics market is estimated to reach $12.1 billion by 2025.
Based on research conducted by BCC, the global digital therapeutics market is projected to grow significantly, reaching an estimated value of $12.1 billion by the year 2025. This statistic suggests a substantial increase in the adoption and utilization of digital therapeutics, which are software-based interventions designed to treat various medical conditions. The expected growth in the market indicates a rising awareness and acceptance of digital solutions in healthcare, potentially transforming the way diseases are managed and treated. This prediction has implications for the healthcare industry, technology sector, and patients seeking innovative treatment options.
According to Eurostat, the mobile healthcare applications segment accounted for the largest share of the digital therapeutics market in 2020.
The statistic mentioned indicates that in 2020, among different segments of the digital therapeutics market, mobile healthcare applications had the highest market share. This means that these applications designed for healthcare purposes and accessible on mobile devices such as smartphones or tablets were the most widely used or most profitable category within the digital therapeutics sector. The dominance of mobile healthcare applications suggests a growing trend towards using technology to deliver healthcare services and improve health outcomes, indicating a significant shift in the healthcare industry towards digital solutions. This statistic underscores the increasing importance and adoption of mobile technology in healthcare for providing personalized health interventions and managing chronic conditions.
According to a Frost & Sullivan report, obesity, diabetes, and cardiovascular disease account for over half of all digital therapeutics applications.
The statistic suggests that the majority of digital therapeutics applications are focused on addressing health conditions such as obesity, diabetes, and cardiovascular disease. These chronic diseases are significant public health concerns worldwide and have a high prevalence in many populations. The findings from the Frost & Sullivan report indicate that a substantial portion of digital health interventions are designed to help manage and treat these specific health issues. This aligns with the growing trend of using technology and digital solutions to improve healthcare outcomes and provide more personalized and accessible care for individuals managing these chronic conditions.
According to IQVIA, the potential healthcare savings of digital therapeutics for 5 chronic diseases in the US is more than $7 billion per year.
The statistic from IQVIA indicates that the implementation of digital therapeutics for five chronic diseases in the United States has the potential to generate savings exceeding $7 billion annually within the healthcare system. This suggests that the use of digital tools, such as mobile apps or other technology-based interventions, could significantly reduce the economic burden associated with managing chronic conditions. By leveraging these innovative digital solutions, healthcare providers may be able to improve patient outcomes, enhance access to care, and ultimately lower overall healthcare costs. The statistic highlights the significant value and potential financial impact that digital therapeutics can have on the healthcare sector in addressing and managing chronic diseases.
Digital therapeutics have been proven to help reduce patients’ Low-density lipoprotein cholesterol (LDL-C) levels by 10% to 15%, as stated in a report by Nature.
The statistic indicates that digital therapeutics have demonstrated effectiveness in reducing patients’ levels of LDL-C, a type of cholesterol associated with an increased risk of cardiovascular diseases. The reported reduction of 10% to 15% suggests a significant improvement in managing cholesterol levels through the use of digital interventions. This finding, as stated in the report by Nature, highlights the potential of leveraging technology in the healthcare sector to provide personalized and effective solutions for patients dealing with hypercholesterolemia. By utilizing digital tools, patients may have better access to monitoring, education, and interventions that can lead to improvements in their health outcomes, specifically in managing their LDL-C levels.
The average physician believes digital therapeutics can reduce office visits by 30%, according to Deloitte’s 2020 survey of U.S. physicians.
The statistic indicates that, on average, physicians in the United States believe that digital therapeutics have the potential to reduce in-person office visits by 30%. This finding is based on a survey conducted by Deloitte in 2020, which gathered responses from a representative sample of U.S. physicians. The implication of this statistic is that healthcare providers see significant value in incorporating digital tools and technologies into their practices to help streamline processes, improve patient care, and potentially reduce the need for physical office visits. This suggests a growing acceptance and recognition within the medical community of the benefits that digital therapeutics can offer in optimizing healthcare delivery and improving efficiency.
According to ResearchAndMarkets, the software applications segment is expected to grow at the highest CAGR of 24.7% from 2021 to 2028.
The statistic suggests that in the period from 2021 to 2028, the software applications segment is poised for significant growth, with a Compound Annual Growth Rate (CAGR) of 24.7%. This indicates that the demand for software applications is expected to increase rapidly over the next seven years. Factors influencing this growth could include technological advancements, increasing digital transformation across industries, and a growing reliance on software solutions to optimize processes and enhance productivity. This projected growth rate highlights the potential opportunities in the software applications market and underscores the importance of this sector in driving innovation and efficiency in various industries.
Japan is predicted to become the fastest growing market for digital therapeutics, with a projected CAGR of 23.8% from 2021 to 2028 according to McKinsey.
The statistic provided indicates that Japan is expected to experience substantial growth in the market for digital therapeutics, with a projected Compound Annual Growth Rate (CAGR) of 23.8% between 2021 and 2028, as forecasted by McKinsey. This CAGR suggests a strong and sustained expansion in the adoption and utilization of digital therapeutic solutions within the Japanese market over the specified time period. Factors contributing to this rapid growth may include an increasing demand for innovative healthcare technologies, a rising awareness of the benefits of digital therapeutics, and potential regulatory advancements supporting the integration of these solutions into traditional healthcare systems. As a result, companies operating in the digital therapeutics space may find significant opportunities for market expansion and investment in Japan in the coming years.
According to MarketsandMarkets, the diabetes digital therapeutics market is expected to account for a significant market share by 2025.
This statistic suggests that the diabetes digital therapeutics market is projected to become a prominent player within the healthcare industry by the year 2025, based on the analysis conducted by MarketsandMarkets. This indicates a growing recognition and adoption of digital tools and technologies for managing diabetes, showcasing a shift towards more innovative and personalized approaches to healthcare. The expected significant market share implies that digital therapeutics solutions for diabetes are anticipated to see increasing demand and investment, potentially leading to advancements in treatment options and improved outcomes for individuals living with diabetes.
A survey by the Journal of Medical Internet Research found 79% of patients find digital therapeutics to be a beneficial entry point to treatment.
The statistic indicates that according to a survey conducted by the Journal of Medical Internet Research, 79% of patients perceive digital therapeutics as a useful and advantageous starting point for their treatment. This suggests that a significant majority of patients view digital interventions, such as mobile apps or online platforms offering therapeutic services, positively in terms of initiating their treatment process. The high percentage of patients finding digital therapeutics beneficial may reflect a growing acceptance and comfort with technology-based tools in healthcare settings, highlighting the potential for integrating digital solutions into traditional treatment approaches to improve patient outcomes and experiences.
By 2025, there will be 130+ FDA approved digital therapeutics applications if they continue to approve at their current rate, as projected by Emergo.
The statistic suggests that by the year 2025, the number of FDA approved digital therapeutics applications is projected to exceed 130, assuming that the FDA continues to approve these applications at a similar rate as observed historically. This projection, made by Emergo, indicates a growing acceptance and utilization of digital therapeutics in healthcare, highlighting the potential impact of these innovative technologies in treating various medical conditions. The increasing number of FDA approvals for digital therapeutics applications implies a shift towards leveraging technology to deliver effective and personalized treatments, reflecting the evolving landscape of healthcare and the integration of digital solutions as part of standard medical care.
Digital therapeutics programs have a clinical effect that’s 40% greater than face-to-face therapies, according to Nature Biotechnology.
The statistic indicating that digital therapeutics programs have a clinical effect that is 40% greater than face-to-face therapies, as reported by Nature Biotechnology, suggests that patients engaging with digital interventions experience significantly more positive outcomes compared to those receiving traditional in-person therapy services. This finding implies that the use of digital tools and platforms in healthcare settings can lead to a substantial improvement in clinical outcomes, potentially due to factors such as increased accessibility, personalized feedback, real-time monitoring, and reduced barriers to engagement. The statistic highlights the potential of digital therapeutics to enhance the effectiveness and efficiency of healthcare interventions, offering promising implications for the future of healthcare delivery and patient outcomes.
Digital therapeutics can improve patients’ medication adherence by 30%, as stated by a survey conducted by New Accenture.
The statistic claiming that digital therapeutics can improve patients’ medication adherence by 30%, as reported by a survey conducted by New Accenture, suggests a significant potential benefit of integrating digital tools into the healthcare ecosystem. The 30% increase in medication adherence could lead to improved health outcomes for patients, reduced healthcare costs, and enhanced overall treatment effectiveness. This finding underscores the importance of leveraging technology to optimize patient care and highlights the promising role that digital therapeutics can play in promoting better adherence to treatment regimens. Healthcare providers and policymakers may consider investing in and promoting the adoption of digital therapeutics as a strategy to enhance patient outcomes and healthcare quality.
Patients using digital therapeutics for diabetes management had a higher likelihood of showing a substantial decrease in HbA1c levels (1%-1.9%) as opposed to conventional methods, according to a report by ProQuest.
The statistic indicates that patients utilizing digital therapeutics for managing diabetes are more likely to experience a significant decrease in HbA1c levels by 1% to 1.9% compared to those using conventional methods. This suggests that digital tools such as mobile apps, wearable devices, or online platforms tailored for diabetes management may offer advantages over traditional approaches in improving glycemic control. The report by ProQuest highlights the potential benefits of incorporating digital interventions into diabetes care to potentially yield better outcomes in terms of reducing HbA1c levels, a critical marker of long-term blood sugar control.
References
0. – https://www.www.proquest.com
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