The Global Digital Psychotherapeutics Market Size is valued at 1.01 billion in 2022 and is predicted to reach 8.45 billion by the year 2031 at a 26.7% CAGR during the forecast period for 2023-2031.
The use of digital technology, software apps, and digital platforms to deliver evidence-based therapy interventions for mental health issues is referred to as digital psychotherapeutics, also known as digital therapies for mental health or digital mental health interventions. The digital psychotherapeutics market has undergone substantial expansion and shifting dynamics in recent years.
The worldwide mental health crisis is becoming more widely recognized, with an increase in mental health illnesses such as depression, anxiety, and stress-related ailments. As a result, there is a rise in demand for accessible and effective psychotherapy interventions. Smartphones, wearables, and virtual reality (VR) are examples of how rapid advances in digital technology have paved the way for creative digital psychotherapy solutions. These technologies make therapy more convenient and scalable, making mental healthcare more accessible to a greater population.
However, the pandemic has increased the global demand for mental health care. The pandemic's dread, uncertainty, and social isolation have contributed to an increase in mental health illnesses, including anxiety, depression, and stress-related ailments.
Competitive Landscape:
Some of the major digital psychotherapeutics market players are:
- SwissDT
- Starling Minds
- Woebot Health
- Talkspace
- Pear Therapeutics
- Ginger
- Meru
- Spring Care, Inc.
- AbleTo, Inc.
- Novartis
- SilverCloud Health
- FlyingPepper
- BetterHelp
Market Segmentation:
The Digital Psychotherapeutics market is segmented on the basis of solution, application, and business model. Solution segment includes monotherapy and combination therapy. The application segment includes prevention, management, and treatment. By business model, the market is segmented into direct-to-patients/consumers and business-to-business (B2B).
Based On The Business Model, The Business-To-Business (B2B) Segment Is Accounted As A Major Contributor In The Digital Psychotherapeutics Market
The business-to-business (B2B) category is expected to hold a major share of the global Digital Psychotherapeutics Market in 2022. Owing to the increased awareness of the benefits and cost-effectiveness of digital medicines among providers, payers, and employers, the business-to-business (B2B) segment accounts for the largest market share. Furthermore, several pharmaceutical companies are focusing on developing digital treatments in conjunction with pharmacological goods in order to increase adherence and compliance.
The Treatment Segment Witnessed Growth At A Rapid Rate
The treatment segment is projected to grow at a rapid rate in the global digital psychotherapeutics market. Digital therapeutics are health or social care interventions delivered via a smart device to support healthy behaviors and provide therapeutic effects for treating type II diabetes, Alzheimer's disease, dementia, chronic obstructive pulmonary disease, asthma, and other disorders. Increase in research and development activity for digital therapeutic devices.
The North America Digital Psychotherapeutics Market Holds A Significant Revenue Share In The Region
The North America Digital Psychotherapeutics Market is predicted to register the most increased market share in terms of revenue in the near future due to the increasing technological advancement for digital therapeutics advancements.
The movement in healthcare providers' focus towards a patient-centric healthcare approach for patient wellness. This region is home to a large number of enterprises that produce digital therapies. Because of increased investment and support for digital medicines development, the United States holds the largest market share. The evolving reimbursement system for digital treatments will drive industry expansion.
North America is also predicted to maintain its dominant market position over the forecasted timeframe. Because of increased research and development activity for digital therapies, the Asia Pacific region is likely to have significant market growth.
Digital Psychotherapeutics Market Report Scope:
|
Report Attribute |
Specifications |
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Market size value in 2022 |
USD 1.01 Bn |
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Revenue forecast in 2031 |
USD 8.45 Bn |
|
Growth rate CAGR |
CAGR of 26.7 % from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Solution, Application, And Business Model |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
SwissDT, Starling Minds, Woebot Health, Talkspace, Pear Therapeutics, Ginger, Meru, Spring Care, Inc., AbleTo, Inc., Novartis, SilverCloud Health, FlyingPepper, BetterHelp. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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