Digital therapeutics (DTx) are software products that have been proven to treat or manage a medical condition. They differ from customer wellness apps and fitness trackers that offer basic guidance, such as techniques to overcome insomnia or administer first aid. Rather, they are intended to be used in tandem with a drug regimen to achieve clinical outcomes and can replace or complement existing treatment. In addition to the COVID-19 pandemic, growing emphasis on preventative healthcare, a high prevalence of chronic diseases, and cheaper devices due to technological advancements are driving growth in the US DTx market. Moreover, the emergence of E-patients is further driving demand for DTx as they can help them maintain a healthy diet and track their daily physical activity, as well as provide online guidance from certified doctors. Despite the rapid development and growing popularity of DTx, many challenges remain in the industry. For example, the regulatory frameworks are still evolving and lag behind the pace of innovation in this space. Additionally, it is difficult to integrate DTx into the traditional healthcare ecosystem and scale them. Nevertheless, this rapidly-growing segment of the digital health market offers opportunities for healthcare and pharmaceutical incumbents to leverage their established relationships with patients, physicians, and payers. This will help them build a robust portfolio of DTx and expand their market reach. Additionally, it will also allow them to tap into a new section of the end-to-end healthcare market.
Coherent Market Insights estimates that the market for U.S. Digital Therapeutics Market was estimated at US$ 2.80 billion in 2023, and from 2023 to 2030, it is expected to increase to reach US$ 21.46 billion in 2030 at a compound growth rate (CAGR) of 33.8% over the forecast period.
Major Players in the U.S. Digital Therapeutics Industry:
1. Pear Therapeutics
Established in 2013 and headquartered in Boston, Pear Therapeutics is a leader in the U.S. Digital Therapeutics Market. With a global presence across multiple countries, including Canada and Germany, the company specializes in developing prescription digital therapeutics (PDTs) that received FDA clearance. Notably, Pear Therapeutics pioneered reSET and reSET-O, innovative PDTs for substance use disorder (SUD) and opioid use disorder (OUD) treatment, complementing outpatient care.
2. 2Morrow Inc.
Founded in 2011 and headquartered in Seattle, 2Morrow Inc. is a key player in the US Digital Therapeutics market. With a global presence, including partnerships in Canada and Australia, the company specializes in evidence-based behavior change programs accessible through mobile apps. Their digital therapeutics are rooted in cognitive-behavioral therapy (CBT) principles, focusing on smoking cessation, stress reduction, weight management, and more. 2Morrow Inc. collaborates with employers, health plans, and wellness providers to integrate their solutions into comprehensive health initiatives, emphasizing evidence-based practices to drive positive health outcomes.
3. Omada Health Inc.
Founded in 2011 and headquartered in San Francisco, Omada Health Inc.is a key player in the U.S. Digital Therapeutics Market. Their expertise lies in digital therapeutics and coaching, addressing chronic conditions and healthy lifestyles. Notably, their Diabetes Prevention Program focuses on type 2 diabetes risk reduction, while hypertension and cardiovascular health programs empower individuals. Omada collaborates with employers and health plans, advocating an evidence-based approach.
4. Teladoc Health
Founded in 2002 and headquartered in Purchase, New York, Teladoc Health is a prominent player in the US Digital Therapeutics market. The company specializes in telemedicine services, offering remote medical consultations and virtual care for various medical issues, including medical issues, including mental health concerns. Teladoc collaborates with healthcare systems, employers, and health plans, and has a global presence, serving patients worldwide. Notably, it acquired Livongo to expand its offerings. Teladoc is publically traded on the NYSE under “TDOC”.
5. Lark Technologies
Established in 2011 and headquartered in Mountain View, California, Lark Technologies is a significant player in the U.S. Digital Therapeutics Market. Specializing in AI-driven health coaching, Lark offers personalized support for chronic condition management, weight loss, and mental health. While specific global presence details are limited, Lark has garnered recognition for its innovative approach to leveraging technology for improved healthcare outcomes.
6. Fitbit
Established in 2007 and headquartered in San Francisco, Fitbit is a prominent player in the U.S. Digital Therapeutics Market. Specializing in wearable health and fitness technology, Fitbit’s device track activity, heart rate, sleep, and more. With a global reach spanning countries like the UK and Australia, Fitbit continuously innovates, introducing features like advanced health sensors and personalized health insights, contributing to its industry influence.
7. Cognoa Inc.
Founded in 2013 and headquartered in Palo Alto, California, Cognoa Inc. is a notable player in the U.S. Digital Therapeutics Market. Specializing in pediatric behavioral health, the company’s digital solutions offer early detection and personalized interventions for developmental conditions. As of now, Cognoa operates within United States, pioneering advancements in remote diagnostics and support for children’s behavioral well-being.
More Insights: Digital Therapeutics Industry
*Definition – U.S. Digital Therapeutics Market are clinically validated software-based interventions designed to treat medical conditions, improving health outcomes and patient well-being.
