Global Digital Therapeutics Market Growth is set to be driven by the Expanding Pharma-Digital Therapeutic Alliances

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Global Digital Therapeutics Market Growth is set
to be driven by the Expanding Pharma-Digital
Therapeutic Alliances
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• A new class of therapeutics known as "digital
  therapeutics" (DTx) has been made possible by the
  evolution and widespread adoption of technology,
  specifically in the areas of artificial
  intelligence, deep learning, and health
  monitoring using wearables, changing medical
  protocols, the need to reduce costs, and these
  factors are all influencing to the transformation
  of healthcare.
• The global digital therapeutics market pegged at
  2.2 billion (2020) is set to gain momentum. The
  next phase of expansion is probably going to be
  fuelled by expanding pharma-digital therapeutic
  alliances, increasing focus of digital
  therapeutics companies on mental health,
  psychiatric conditions, and cognitive
  impairments, gradually improving reimbursement
  situations, a favorable funding environment, and
  a strong pipeline of digital therapeutics
  products.
• Digital therapeutics are products (software
  programs) that deliver evidence-based therapeutic
  interventions to patients to prevent, manage, or
  treat a medical disorder or disease (Source
  Digital Therapeutic Alliance). To optimize
  patient care and health outcomes, they can be
  used alone or in combination with other
  therapies, medications, and medical devices.
• Digital therapeutics is poised to revolutionize
  the healthcare industry. It finds usage across a
  range application such as Diabetes, Chronic
  Respiratory Disorders, Musculoskeletal Disorders,
  Smoking Cessation, Cardiovascular Diseases, CNS
  Disorders, Obesity and Others. It offers immense
  value for multiple stakeholders. A growing number
  of key stakeholders, including the FDA, HCPs,
  Payers, and Patients, are now accepting digital
  therapeutics as a form of therapy.
• The following benefits for the stakeholders
  across the healthcare spectrum testifies the
  potential for digital therapeutics.
• Patients On-demand and easy access to
  clinically-validated therapies, treatment and
  care. Personalized and flexible care for many
  chronic conditions
• Providers Digital therapeutics can be used as a
  monotherapy or in concert with other therapies to
  optimize patient care and outcomes.
  Physicians/caregivers can support patients
  remotely and monitor their response to treatment
  without an office visit thereby leading to a
  lower cost of care. It also provides them access
  to novel treatment options

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• Payers Improved clinical health outcomes,
  disease prevention and reduction in overall
  medical costs
• Pharmaceutical Companies Pharma companies could
  benefit from data collected by digital
  therapeutics companies about patient and their
  condition. Through digital therapeutics,
  pharmaceutical companies can improve the efficacy
  of their existing therapies. digital therapeutics
  can also be used in clinical research to speed
  the drug approval process. Example - Bayer,
  Otsuka, and Sanofis investments into digital
  therapeutic start-ups
• Explore Premium Report on Digital Therapeutics
  Market _at_ https//www.medgadget.com/2021/08/digital
  -therapeutics-market-size-at-2-2bn-poised-to-revol
  utionize-the-pharma-digital-health-industry-innova
  tive-business-models-favourable-reimbursement-robu
  st-product-pipelines-set-to-impact-be.html
• The digital therapeutics market has also
  attracted attention of several investors and they
  too are aligned on the value of digital
  therapeutics.
• Consider the following facts that has made
  digital therapeutics so fundable.
• Data Collection Capabilities Digital
  therapeutics can collect an huge amount of
  patient health data which can be used for
  personalized treatment of patients, enable
  data-driven care for providers and improve health
  outcomes
• Effective Tool for Chronic Conditions Chronic
  conditions continue to increase in prevalence and
  has debilitating effect on the healthcare system.
  Digital therapeutics has emerged as an effective
  tool for chronic disease management
• Digital therapeutics Supported by Clinical
  Evidence Since digital therapeutics products are
  backed by clinical data, there is clinical
  evidence of it being effective
• Cater to Unmet Needs Digital therapeutics has
  showcased potential to address many chronic
  conditions which have unmet needs such as
  treatment-resistant depression and opioid
  addiction
• Strong Positive Outlook The estimated market
  potential of digital therapeutics outweighs the
  hurdles

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• Geographic Snapshot Digital Therapeutics Market
• Comprehensive regional assessment of the global
  digital therapeutics market covering U.S., Europe
  (Germany, Italy, France, Spain, UK, and Rest of
  Europe), Asia-Pacific (India, China, Japan,
  Australia, New Zealand, Singapore and Rest of
  Asia-Pacific) and Rest of the World (Latin
  America, Middle-East Africa) suggests that U.S.
  is likely to continue its dominance in the next
  10 years.
• The U.S. digital therapeutics market is expected
  to rise due to factors like an increase in the
  incidence of chronic diseases, favourable
  government policies and grants, increased public
  awareness about the importance of digital
  therapeutics, and a well-developed healthcare
  infrastructure. Facilitation of digital
  therapeutics led by Pharmacy Benefit Managers
  (PBMs) in the U.S. is also expected to fuel its
  adoption.
• For instance,
• In Dec 2019, Express Scripts announced that
  digital therapeutics solutions would be added to
  its digital health "formulary.
• In June 2019, CVS Caremark unveiled a platform
  that enables payers to formalize and streamline
  the process for digital therapeutics
  reimbursement and distribution.
• Psychiatry Remains 1 Application in Clinical
  Trials of Digital Therapeutics
• A review of trends of digital therapeutics
  clinical trials over the past ten years suggests
  that with respect to therapeutic areas (TA) under
  investigation, the highest percentage of trials
  were conducted for psychiatry indication followed
  by cardiovascular, addiction, endocrinology,
  neurology, and respiratory indications. Strong
  pipeline of digital therapeutics products across
  diverse application areas - neuroscience
  indications, cardiovascular diseases,
  gastrointestinal diseases, chronic kidney disease
  (CKD), among others is likely to provide impetus
  to the global digital therapeutics market.
• Various strategies Adopted by Players to
  Establish Their Foothold in Digital Therapeutics
  Market
• Players operating in the digital therapeutics
  market are implementing various strategies to
  expand their foothold into the market.

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• For instance,
• In Jan, 2021, etectRx (Digital Health
  Company) entered into an agreement with Pear
  Therapeutics to develop up to two product
  candidates in the Central Nervous System (CNS)
  space combining Prescription Digital Therapeutics
  (PDTs) and adherence sensors. The collaboration
  explores the use of digital pill solutions with
  PDTs.
• Through their work in Digital Therapeutics over
  the years, Medi-Tech Insights understands the
  intricacies nuances of Digital Therapeutics and
  has successfully assisted many established
  players, start-ups to grow revenues by 10x.
• Business Models and Competitive Landscape
  Analysis of Digital Therapeutics Market
• Citing the lucrative prospects of the market,
  several new players have entered the digital
  therapeutics market. Players such as Hinge
  Health, Thirty Madison, Akili Interactive and
  others have witnessed significant fundings and
  are expected to carve a niche for themselves.
• There are now many different business models
  being used, but considering the early stages of
  digital therapeutics, it will probably take a few
  years to determine the most suitable one for
  scaling and commercializing a digital therapeutic
  successfully.
• In terms of competitive landscape, the digital
  therapeutics market is marked by presence of both
  established players and several small players.
  Some of the prominent players operating in this
  market include Pear Therapeutics, Voluntis, Akili
  Interactive, Click Therapeutics, WellDoc, among
  others.

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