InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Prescription Digital Therapeutics (PDT) Market – (By Type (Medication Augmentation, Medication Replacement), By Application (Children, Adults)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Prescription Digital Therapeutics (PDT) Market is valued at US$ 4.41 Bn in 2023, and it is expected to reach US$ 21.18 Bn by 2031, with a CAGR of 22.41% during the forecast period of 2024-2031.
Prescription Digital Therapeutics (PDT) represent a new category of medical treatments that utilize software applications to deliver therapeutic interventions under the supervision of healthcare providers. Prescription digital drugs are created by combining biology and technology. Artificial intelligence, various algorithms, and virtual reality were used in the creation of these therapeutic aids. Digital therapies, or prescription PDTs, are a relatively new class of medications. PDTs function as direct therapies for serious illnesses, just like traditional biologics or prescription drugs do. The increased frequency of chronic illnesses is a major factor impacting the growth rate of the prescription digital therapeutics (PDT) market throughout the forecast period.
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List of Prominent 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 Prominent Players
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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 And Application
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
Market Dynamics:
Drivers-
The market share of prescription digital therapeutics (PDT) is expected to increase as more people utilize smartphones and tablets. Moreover, the market for prescription digital therapeutics (PDT) is expected to expand due to increasing government initiatives aimed at enhancing healthcare services and the presence of an aging population. In addition, the market’s growth rate will be accelerated by the ease of accessibility, patient comfort, and the ability to affect behavioural change. Additionally, a sizable pipeline of prospective products anticipated to be produced throughout the projection period would present advantageous growth prospects for the prescription digital therapeutics (PDT) market.
Challenges:
Concerns about patient data privacy will hinder the market’s rate of expansion. Prescription digital therapeutics (PDT) market challenges will come from developing economies’ inadequate healthcare infrastructure and shortage of qualified personnel. Furthermore, during the projection period, the market’s growth pace will be further hindered by stringent government regulations and a lack of knowledge regarding digital therapeutics in emerging nations.
Regional Trends:
The North American prescription digital therapeutics (PDT) market is anticipated to report a major market share in terms of revenue owing to the improved quality of healthcare. Numerous resources are available in the area, which makes it possible to come up with new ideas for growing the company. The region’s dominance stems from technological advancement, which enables it to innovate and implement the newest ideas independently. Additionally, the region’s numerous businesses and increasingly sophisticated technologies boost this sector’s growth. Consequently, North America has become a prominent actor on the international scene, establishing the bar for effective, cutting-edge, and ecologically sustainable platforms.
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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®.
Segmentation of Prescription Digital Therapeutics (PDT) Market-
By Type-
Medication Augmentation
Medication Replacement
By Application-
Children
Adults
By Region-
North America-
The US
Canada
Mexico
Europe-
Germany
The UK
France
Italy
Spain
Rest of Europe
Asia-Pacific-
China
Japan
India
South Korea
South East Asia
Rest of Asia Pacific
Latin America-
Brazil
Argentina
Rest of Latin America
Middle East & Africa-
GCC Countries
South Africa
Rest of the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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