As pandemic anxiety and depression continue to harm people's mental health, digital therapeutics is more important than ever before. This, combined with the $18.5 billion Teladoc-Livongo merger, has heated up competition in the virtual care space and catapulted the global DTx market to reach $56 billion over the next five years.What is Digital Therapeutics?
Over the next five years, there will likely be an uptick in merger and acquisition activity and closures among DTx companies. Pharmaceutical companies will likely also become active acquirers of DTx providers, and large M&As are a key sign of market maturity and future growth. The FDA has been paving the way for swift DTx development—empowering DTx vendors to launch their platforms quicker than ever before. In April, the FDA loosened regulations surrounding approval of digital mental health tools to hasten their time to market.The Teladoc-Livongo megamerger put a spotlight on the power of digital therapies and the virtual care market. As a result, other telehealth players are eyeing DTx platforms to enhance the value of their services.
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