Noom, Inc (US) and Teladoc Health, Inc. (US) are Leading Players in the Digital Therapeutics (DTx) Market
The global digital therapeutics market is projected to reach USD 21.9 billion by 2028 from USD 6.1 billion in 2023, at a CAGR of 29.1% during the forecast period. Increasing preference for at home treatment, rising adoption of remote healthcare services and increasing innovations on software as a medical device (SaMD) are estimated to bolster the growth of digital therapeutics.
The digital therapeutics market is a highly diversified and competitive market with several emerging players. The prominent players in this market include are Noom, Inc (US), Teladoc Health, Inc. (US), Omada Health, Inc. (US), WellDoc, Inc (US), Biofourmis (US), Better Therapeutics, Inc (US), Amalgm Rx (US), CogniFit Inc (US), Headspace Health (US), Propeller Health (US), Virta Health Corp (US), 2Morrow, Inc. (US), Realizedcare (US), Canary Health (US), Twill Inc. (US), Click Therapeutics, Inc. (US), Akili, Inc. (US), Cognoa, Inc (US), Wellthy Therapeutics Pvt. Ltd. (India), Kaia Health (Germany), Ayogo (Canada), Mindable Health GmbH (Germany), Hinge Health, Inc. (US), and Freespira (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. Additionally, Many companies in the DTx market adopt a strategy of forming strategic partnerships and collaborations with other healthcare stakeholders. This includes collaborations with pharmaceutical companies, healthcare providers, insurers, and technology companies.
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Noom, Inc. (US) stands at the forefront of the global digital therapeutics market, offering top-notch solutions for weight management, diabetes prevention, and stress reduction. The company has received numerous grants from the National Institutes of Health and introduced the initial mobile application acknowledged by the US CDC as an accredited diabetes prevention program. In October 2021, Noom, Inc. unveiled the Noom Mood program, extending its behavioral change methodology to address various conditions such as diabetes, hypertension, and sleep. The company has a presence in New York (US), Berlin (Germany), Seoul (South Korea), and Tokyo (Japan).
Teladoc Health, Inc. (US) emerges as a key player in the digital therapeutics market, employing exclusive health signals and personalized interactions to enhance health results. The company focuses primarily on addressing conditions such as diabetes, hypertension, weight management, diabetes prevention, and mental health. In February 2022, Teladoc Health, Inc. introduced the Chronic Care Complete program—a solution for managing chronic conditions, aiming to enhance the well-being of individuals facing multiple chronic health issues. The incorporation of programs like Chronic Care Complete and myStrength, accelerated by the 2020 merger with Livongo, has significantly bolstered Teladoc Health's capability to provide comprehensive care by seamlessly integrating clinical and digital solutions that cater to the evolving needs of the market. The amalgamation of Teladoc and Livongo represents a noteworthy integration of competencies and skills in the realm of digital health.
Omada Health, Inc. (US) stands as a prominent player in the digital therapeutics market, delivering integrated virtual care solutions for chronic conditions, which is a critical clinical requirement for employers and health plans. In June 2019, the company received a funding injection of USD 73 million from its investors, dedicated to the development of digital health programs addressing preventable chronic conditions. Omada Health is strategically expanding its product portfolio beyond diabetes, as evidenced by the April 2021 launch of the Physician-guided Care Program—an innovative virtual clinic catering to hypertension and diabetes patients. Additionally, the company collaborates with a diverse range of stakeholders, including employers, payers, healthcare systems, and pharmaceutical companies.
Related Reports:
Digital Therapeutics (DTx) Market by Offerings (Platform, Virtual Reality/Games), Revenue Model (Subscription, Value Based), Application (Therapy (Diabetes, Obesity, CNS, Respiratory, CVD), Drug Adherence, Rehab/Patient care) - Global Forecast to 2028
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