Digital Therapeutics Market Booming Worldwide with Key Players | Pear Therapeutics, Voluntis

BRUSSELS - Dec. 19, 2022 - PRLog -- A new class of therapeutics known as "digital therapeutics" (DTx) has been made possible by the evolution and widespread adoption of technology, specifically in the areas of artificial intelligence, deep learning, and health monitoring using wearables, changing medical protocols, the need to reduce costs, and these factors are all influencing to the transformation of healthcare.

The global digital therapeutics market pegged at $ 2.2 billion (2020) is set to gain momentum. The next phase of expansion is probably going to be fueled by expanding pharma-digital therapeutic alliances, increasing focus of digital therapeutics companies on mental health, psychiatric conditions, and cognitive impairments, gradually improving reimbursement situations, a favorable funding environment, and a strong pipeline of digital therapeutics products.

Digital therapeutics are products (software programs) that deliver evidence-based therapeutic interventions to patients to prevent, manage, or treat a medical disorder or disease (Source: Digital Therapeutic Alliance). To optimize patient care and health outcomes, they can be used alone or in combination with other therapies, medications, and medical devices.

Digital therapeutics is poised to revolutionize the healthcare industry. It finds usage across a range application such as Diabetes, Chronic Respiratory Disorders, Musculoskeletal Disorders, Smoking Cessation, Cardiovascular Diseases, CNS Disorders, Obesity and Others. It offers immense value for multiple stakeholders. A growing number of key stakeholders, including the FDA, HCPs, Payers, and Patients, are now accepting digital therapeutics as a form of therapy.

The following benefits for the stakeholders across the healthcare spectrum testifies the potential for digital therapeutics.

• Patients: On-demand and easy access to clinically-validated therapies, treatment and care. Personalized and flexible care for many chronic conditions
• Providers: Digital therapeutics can be used as a monotherapy or in concert with other therapies to optimize patient care and outcomes. Physicians/caregivers can support patients remotely and monitor their response to treatment without an office visit thereby leading to a lower cost of care. It also provides them access to novel treatment options
• Payers: Improved clinical & health outcomes, disease prevention and reduction in overall medical costs
• Pharmaceutical Companies: Pharma companies could benefit from data collected by digital therapeutics companies about patient and their condition. Through digital therapeutics, pharmaceutical companies can improve the efficacy of their existing therapies. digital therapeutics can also be used in clinical research to speed the drug approval process. Example - Bayer, Otsuka, and Sanofi's investments into digital therapeutic start-ups

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