The Prescription Digital Therapeutics (PDT) Market Size is valued at USD 4.41 billion in 2023 and is predicted to reach USD 21.18 billion by the year 2031 at a 22.41% CAGR during the forecast period for 2024-2031.
Software-based therapies are one type of prescription digital medicine that is used to treat a variety of ailments. To create digital prescription drugs, biology and technology are merged. Many algorithms, virtual reality, and artificial intelligence were used in the creation of these therapeutic tools. Digital therapies, sometimes known as prescription PDTs, are a relatively new class of drugs. For serious illnesses like conventional biologics or drugs, PDTs work as direct therapy. A significant aspect influencing the growth rate of prescription digital therapeutics (PDT) throughout the projected period is the rise in the prevalence of chronic illnesses.
The increasing cost of healthcare, which contributes to the development of the industry's infrastructure, is another important element impacting the prescription digital therapeutics (PDT) market growth rate. Additionally, by boosting funding, a number of government groups hope to strengthen the healthcare infrastructure, which would further alter the dynamics of the market.
Competitive Landscape
Some Major Key Players In The Prescription Digital Therapeutics (PDT) Market:
- Akili Interactive
- Better Therapeutics
- Pear Therapeutics
- ResMed
- Biofourmis
- Novartis
- Medtronic
- GAIA
- Solera Network
- BigHealth
- Voluntis
- Omada Health
- Click Therapeutics
- Natural cycles Nordic
- Happify
- Limbix Health
- NuvoAir
- Sensyne Health
- Xealth
- Other Market Players
Market Segmentation:
The prescription digital therapeutics (PDT) market is segmented based on type, application, and software. Based on type, the market is segmented into medication augmentation and medication replacement. By application, the market is segmented into children and adults. Based on software, the market is segmeneted into software for respiratory conditions, software for mental health, software for opioid use disorder, software for diabetes, and others. Based on services, the market is segmeneted into behavioral microservices, and medical microservices.
Based On The Type, The Medication Augmentation Segment Accounts For A Major Contributor To The Prescription Digital Therapeutics (PDT) Market.
The medication augmentation category is expected to hold a major global market share in 2023. PDTs have become more widely used and more successful as a result of developments in digital health technology and the growing popularity of mobile health applications. This is especially true when it comes to augmenting the efficacy of conventional drugs. Digital solutions that can offer behavioural interventions, individualized feedback, and real-time monitoring are integrated into this category to improve patient outcomes and adherence. Medication augmentation PDT development and implementation are also being accelerated by regulatory approvals and pharmaceutical firms' increasing investments in digital technologies.
The Adult Segment Is To Witness Growth At A Rapid Rate.
The rising incidence of severe diseases like diabetes, mental health issues, and cardiovascular ailments is driving the need for PDTs' cutting-edge therapy options. By providing individualized, evidence-based treatments that are easily accessible via digital platforms, these therapies improve patient adherence and results. Furthermore, PDTs are becoming more effective and personalized as a result of the use of cutting-edge technology like artificial intelligence and machine learning.
In The Region, The North American Prescription Digital Therapeutics (PDT) Market Holds A Significant Revenue Share.
The North American prescription digital therapeutics (PDT) market is expected to report the maximum market revenue share in the near future because medical care has risen in quality. It is possible to generate fresh ideas for expanding the business in this location due to the abundance of resources. Due to its ability to create and autonomously execute the newest ideas, the region is dominant due to technical advancement. The area's large company base and advancing technological capabilities are further factors driving this sector's expansion. In addition, Asia Pacific is estimated to extend in the global prescription digital therapeutics (PDT) market. This is because the cost of healthcare is growing, and the frequency of chronic illnesses is rising as well, which will accelerate the market's growth rate in this area. Additionally, during the projected period in this region, growing investment in the development of cutting-edge technologies and an increase in the number of new markets would present favourable chances for the expansion of prescription digital therapeutics (PDT).
Recent Developments:
- In Jan 2023, Pear Therapeutics and BrightView Health extended their pilot program to offer prescription digital therapies for the management of substance use disorders. This initiative was created to offer eligible persons who were experiencing substance use disorder (SUD) and opioid use disorder (OUD) the opportunity to obtain reSET® and reSET-O®.
Prescription Digital Therapeutics (PDT) Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 4.41 Bn |
|
Revenue Forecast In 2031 |
USD 21.18 Bn |
|
Growth Rate CAGR |
CAGR of 22.41% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, Application, Software and Services |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Akili Interactive, Better Therapeutics, Pear Therapeutics, ResMed, Biofourmis, Novartis, Medtronic, GAIA, Solera Network, BigHealth, Voluntis, Omada Health, Click Therapeutics, Naturalcycles Nordic, Happify, Limbix Health, NuvoAir, Sensyne Health, and Xealth. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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