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Digital Therapeutics
Aug 24, 2022


Digital Therapeutics

What if an app or a device could replace a medicinal pill? It may sound like a futuristic option, but it is in fact a very actual solution. Digital Therapeutics (Jargon) is the key answer to optimizing the dosing of drugs or not taking drugs at all. In the near future, these therapeutic apps and tools will be prescribed by medical practitioners like the traditional medicines in today’s time. Our research reveals that the Digital Therapeutics market is estimated at a value of US$ 4.03 billion in 2021 and is expected to reach a whopping US$ 11.9 billion by 2026 growing with a CAGR of 24.18% for the forecast period 2021-2026.

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The Digital Therapeutics is being promoted worldwide majorly through the Digital Therapeutics Alliance (DTA)(Jargon), which enables expanded access to high-quality, evidence-based digital therapeutics for patients, clinicians, and payers. As per the recent news, DTA announced a partnership with the Healthware Group with an aim to strategize access to the Europe Market which shows that this technology has started to make an expansion globally .In India too, the pharma companies are working rigorously and matching the pace for the development of Digital Therapeutics. In 2019, Cipla and Wellthy Therapeutics announced that they have entered into a partnership to offer a combination of pharmacotherapy and digital therapeutics. This promise to deliver can also be confirmed by looking at the Drivers & Challenges of the Digital Therapeutics market.

DRIVERS

  • Peoples’ dependence on digitally enabled solutions.
  • Real-time patient monitoring and improved patient engagement.
  • Need for personalized treatment in such a dynamic environment.
  • Access to best treatment even in rural and remote areas.
  • Growing clinical evidence of DTx’s effectiveness.

CHALLENGES

  • People’s disbelief on a mobile app and high belief on traditional practices.
  • Regulatory ambiguity.
  • Establishment of evidence.
  • Creating adequate payment and business models.
Certainly, the market promises a bright future for the Pharma industry ahead, but will digital therapeutics enhance the future of medication treatments? Time will tell….

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