These treatments “present a novel opportunity for patients to manage chronic diseases (and) are gaining more interest as new types of treatments enter the market, a CB Insights report said.
Juniper Research meanwhile predicts the market for digital therapeutics will top $32 billion in revenues in 2024, up from an estimated $2.2 billion in 2019, with diabetes and weight loss the biggest growth segments.
Among companies in the sector, San Francisco-based Omada is using an app offering coaching for diabetes care; and British-based SilverCloud Health offers apps for anxiety, depression and other mental health treatments.
The treatments may include online chats, patient checklists and in some cases monitoring of data from linked devices such as sensors, wearables or insulin pumps.
Holding back the market, some analysts say, is confusion over tested digital therapies and the vast number of “wellness” applications that are freely available for conditions like insomnia and anxiety.
James Madara, chief executive of the American Medical Association, warned in 2016 of the difficulties of “separating the digital snake oil from the useful” digital tools, without specifically mentioning digital therapeutics.