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North America Prescription Digital Therapeutics (PDTx) Market, By Mechanism (Input Mechanisms, Output Mechanisms), Category (Medication Augmentation, Medication Replacement), Treatment (Outpatient Treatment, Monotherapy), Software (Software For Respiratory Conditions, Software For Mental Health, Software For Opioid Use Disorder, Software For Diabetes, Others), Services (Behavioral Microservices, Medical Microservices), App Accessibility (Android, iOS, Windows), App Type (Native Apps, Web Apps), Application (Substance Use Disorder (SUD), Opioid Use Disorder (OUD), Attention Deficit/Hyperactivity Disorder (ADHD), Alzheimer’s Disease, Major Depressive Disorder (MDD), Insomnia, Epilepsy, Movement Disorder, Multiple Sclerosis, Migraine, Autism Spectrum Disorder, Oncology, Inflammation, Respiratory, Cardiovascular, Pain Management, Metabolic Conditions, Others), Patients (Children, Adults) – Industry Trends and Forecast to 2030.
Growing smartphone penetration in developed & developing countries is inculcating the adoption of prescription digital therapeutics (PDTx). It is developed as a boon for a number of diseases such as ADHD, major depressive disorder (MDD), opioid use disorder (OUD), substance use disorder (SUD), autism spectrum disorder, multiple sclerosis, and cardiovascular disease. According to National Center for Chronic Disease Prevention and Health Promotion, 6 in 10 American adults suffer from a chronic disease, whereas 4 out of 10 adults have 2 or more chronic diseases. Currently, numerous research & clinical studies are going on which is anticipated to create a competitive advantage for numerous manufacturers to develop new and innovative technology.
Data Bridge Market Research analyses a growth rate in the prescription digital therapeutics (PDTx) market in the forecast period 2023-2030. The expected CAGR of prescription digital therapeutics (PDTx) market is tend to be around 22% in the mentioned forecast period. The market is valued at USD 751.58 million in 2022, and it would grow upto USD 3688.53 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Mechanism (Input Mechanisms, Output Mechanisms), Category (Medication Augmentation, Medication Replacement), Treatment (Outpatient Treatment, Monotherapy), Software (Software For Respiratory Conditions, Software For Mental Health, Software For Opioid Use Disorder, Software For Diabetes, Others), Services (Behavioral Microservices, Medical Microservices), App Accessibility (Android, iOS, Windows), App Type (Native Apps, Web Apps), Application (Substance Use Disorder (SUD), Opioid Use Disorder (OUD), Attention Deficit/Hyperactivity Disorder (ADHD), Alzheimer’s Disease, Major Depressive Disorder (MDD), Insomnia, Epilepsy, Movement Disorder, Multiple Sclerosis, Migraine, Autism Spectrum Disorder, Oncology, Inflammation, Respiratory, Cardiovascular, Pain Management, Metabolic Conditions, Others), Patients (Children, Adults)
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Countries Covered
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U.S., Canada and Mexico in North America
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Market Players Covered
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ResMed (U.S.), SAMSUNGHEALTHCARE (South Korea), Biofourmis (U.S.), Novartis AG (Switzerland), Medtronic (Ireland), Pear Therapeutics, Inc. (U.S.), Voluntis (France), Omada Health, Inc. (U.S.), GAIA AG (Germany), Welldoc’s Bluestar (U.S.), Solera Network (U.S.), Akili Interactive Labs, Inc. (U.S.), Better Therapeutics, LLC (U.S.), BigHealth (U.S.), Biofourmis (U.S.), Click Therapeutics, Inc. (U.S.), Happify, Inc. (U.S.), Limbix Health, Inc. (U.S.), Naturalcycles Nordic AB (Sweden), NuvoAir AB (Sweden), Sensyne Health plc. (U.K.), Xealth (U.S.)
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Market Opportunities
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Market Definition
Prescription digital therapies is a kind of software that is used to treat numerous ailments. Artificial intelligence, diverse algorithms, and virtual reality are widely used to develop these therapeutic instruments. Patients sometimes use prescription digital therapeutics software and services to get any form of treatment they needed it. These medicines are closely regulated by the FDA and other regulatory authorities and can only be used with an appropriate prescription from a doctor.
Drivers
Rising regulatory initiatives are estimated to boost standardization and R&D in the market during the forecast period. For instance, the Software Pre-Cert Pilot Program which is a part of the Digital Health Innovation Action Plan of the FDA, planned for a more efficient regulatory oversight of Software-based Medical Devices (SaMD) developed by manufacturers. The main aim is to develop an efficient regulatory oversight for evaluating organizations to establish trust that they can develop high-quality SaMD products. Therefore, this factor increases the growth of the market.
The increasing adoption of digital therapeutic products for managing respiratory diseases is boosting the market growth. These products include BreatheSmart by Cohero Health, Respiro by Amiko, Propeller by Propeller Health, Hailie by Adherium, and CareTRx by Teva. Digital therapeutics helps to transform the treatment course of COPD and asthma as poor medication adherence is a big issue for treating respiratory diseases. Digital therapeutic solutions can help a lot in this regard. This factor improves the market growth.
Opportunities
The research activities associated with the prescription digital therapeutics is increasing and thus boosting the market's growth. For instance, NuvoAir AB was certified as Class Im medical device in August 2020. The company has achieved this certification due to its advanced features involving certified bluetooth spirometer, combined with the healthcare portal and connected patient app. This certification has improved the brand value among the physicians and patients. Thus, this factor created much opportunity for the market growth.
The number of mergers and acquisitions has grown in the recent years which is increasing the market growth. For instance, Teladoc expanded its partnership with the National Labor Alliance in December 2021 for providing its full suite of virtual care products and services. It includes general medical, expert medical services, specialty care, virtual primary care programs, mental health, and chronic condition management. Thus, this factor helps in the market expansion.
Restraints/Challenges
Not all doctors and providers are not familiar with the increasing digitization. Doctors and healthcare professionals should get familiar with digital therapy solutions before using their mass adoption. They should analyze the results of clinical trials before recommending the solutions to their patients. To perform this, few DTx companies opt for pharmaceutical model wherein partnerships with distributors are used to inform doctors about clinical trial results, new solutions, and decisions. Thus, this hampers the market growth.
This prescription digital therapeutics (PDTx) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the prescription digital therapeutics (PDTx) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
The prescription digital therapeutics (PDTx) market is segmented on the basis of mechanism, category, treatment, software, services, app accessibility, app type, application, patients. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Mechanism
Category
Treatment
Software
Services
App Accessibility
App Type
Application
Patients
The prescription digital therapeutics (PDTx) market is analyzed and market size insights and trends are provided by mechanism, category, treatment, software, services, app accessibility, app type, application, patients as referenced above.
The major countries covered in the prescription digital therapeutics (PDTx) market report are U.S., Canada and Mexico in North America.
U.S. is anticipated to grow with the highest CAGR in the forecast period due to the increased adoption of prescription digital therapeutics (PDTx) by the patients in this region. Also, increased presence of major market players in the region and the launch of multiple products boosts the market growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The prescription digital therapeutics (PDTx) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to prescription digital therapeutics (PDTx) market.
Key players operating in the prescription digital therapeutics (PDTx) market include:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.