Digital Therapeutics (DTx) Market

Noom (US) and Omada (US) are Leading Players in the Digital Therapeutics (DTx) Market

The global digital therapeutics market is projected to reach USD 13.1 billion by 2026 from USD 3.4 billion in 2021, at a CAGR of 31.4% during the forecast period Growth in this market is primarily driven by the increasing incidence of preventable chronic diseases, the need to control healthcare costs, rising focus on preventive healthcare, and rising investments in digital therapeutics.

The digital therapeutics market is a highly diversified and competitive market, with several emerging players. The prominent players in this market include Noom (US), Livongo Health (US), Omada Health (US), WellDoc (US), Pear Therapeutics (US), Akili Interactive Labs (US), Better Therapeutics (US), Happify (US), Kaia Health (Germany), Mango Health (US), Click Therapeutics (US), Canary Health (US), Wellthy Therapeutics (India), Cognoa (US), Ayogo Health (Canada), CogniFit (US), Mindstrong Health (US), 2Morrow (US), and Ginger (US). The players in the market focus on providing effective products to cater to the unmet needs of customers, increase profitability, and gain a competitive edge in the market.

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Noom (US)

Noom (US) is one of the leading providers of the digital therapeutics market. The company provides best-in-class solutions for weight management, hypertension prevention, hypertension management, diabetes prevention, diabetes management, and comorbidities of hypertension and diabetes. The company adopts organic as well as inorganic strategies to strengthen its position in the digital therapeutics market. The company is supported by a number of investments, which have helped it bring digital therapeutic solutions to the market. For instance, in May 2019, Noom secured USD 58 million from its investors for the development of its health-coaching program.

Omada (US)

Omada is one of the leading players in the digital therapeutics market. The company is engaged in designing and developing innovative digital therapeutic programs for preventable chronic diseases, including type 2 diabetes and heart disease. The company sells its products to major organizations, integrated delivery networks, and health plans. The company has attracted significant investments to enhance its solutions, particularly its digital prediabetes program ‘Prevent.’ In June 2019, the company secured USD 73 million from its investors for the development of digital care health programs focusing on preventable chronic conditions.). The company is focusing on broadening its product offerings beyond diabetes—in April 2021, the company launched Physician guided Care Program, a virtual cardiometabolic clinic for hypertension and diabetes patients.

Livongo Health (US)

Livongo Health (US) is one of the prominent players in the digital therapeutics market. The company focuses mainly on digital solutions for the management of chronic diseases. The company’s diabetes management solution has helped in reducing medical spending. Iron Mountain Incorporated (US) and Dean Foods (US), among others, have shared the positive impacts of Livongo’s diabetes management program. The merger between Teladoc and Livongo is one of the most significant integrations of competencies and skills in digital health.

Related Reports:

Digital Therapeutics (DTx) Market by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel (B2C, Patient, Caregiver, B2B, Providers, Payer, Employer, Pharma) - Global Forecasts to 2026

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Report Code
HIT 4407
RI Published ON
7/13/2021
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