The DTx market was estimated to be worth $1.7bn in 2016 and is forecast to grow to $9.4bn by 2025. (1)
Given the forecast for growth, it is not surprising that there has been a rise in the number of venture capitalists investing into the DTx sector. Q1 of 2018 saw record levels of investments, including $50m series B funding for Pear Therapeutics. (2)
With ageing populations, the obesity crisis and pressure on healthcare costs, digital therapeutics offer a tantalising solution to this seemingly insurmountable problem.
It’s not surprising therefore that Grand View Research (GVR) say that Diabetes is expected to gain the largest market share on the basis of application owing to increasing incidence rates globally and preventive steps taken to reduce them.
However, it is an indisputable fact that where some lead, others will follow. As evidence of the effectiveness of DTx in the treatment of diabetes and obesity grows, the interest in other therapeutic areas will increase. Of course, as Debra Reisenthel said in her pioneer’s perspectives interview (3) “Most digital therapeutics companies are recognizing that they need clinical studies, FDA approval, and a health economics story”. Treatments such as Dthera Science’s Reminiscence therapy for dementia and Meru Health’s digital antidote for depression are examples of areas where the interest in DTx is increasing.
How the industry tackles the challenges faced with a growing marketplace will be core to the discussions at DTxDM East, taking place in Boston on September 25 – 26th. This latest edition of the DTx series will see 200 of the leaders in the industry meet to discuss the advancement of our industry.
- Grand View Research
- Mobihealth news
- Pioneer’s perspectives, Grey Green Media.