Digital Oncology Therapeutics Market Research Report Segmentation By Product Type (Digital Therapeutics (DTx), Digital Diagnostics and Monitoring Tools, Digital Decision Support Systems, and Tele-oncology Solutions); Technology (AI and Ml, Big Data and Analytics, Mobile Health (mHealth) and Wearables, Internet of Medical Things (IoMT), Blockchain, Telemedicine, and Virtual Reality (VR) and Augmented Reality (AR)); Application (Cancer Screening and Diagnosis, Treatment Decision Support, Remote Patient Monitoring, Cancer Symptom and Side Effect Management, Patient Engagement and Education, Clinical Trials and Research); End-User (Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Cancer Research Institutes, Patients and Caregivers, Payers and Insurers); and Region - Size, Share, Growth Analysis | Forecast (2024 2030)

Digital Oncology Therapeutics Market Size (2024 – 2030)

In 2023, the estimated value of the Digital Oncology Therapeutics market stood at USD 1.72 billion, and projections indicate a growth to USD 3.17 billion by the end of 2030, with a Compound Annual Growth Rate (CAGR) of 9.15% over the forecast period.

Digital Oncology Therapeutics Market

Market expansion is driven by factors such as increased patient assistance programs (PAPs), heightened governmental initiatives for cancer awareness, a global surge in cancer prevalence, robust research and development initiatives by key companies, and an escalating demand for personalized medication.

Market Overview

Oncology therapeutics encompass the medical domain focused on identifying alterations in cancer cells that impede or delay the growth of tumors causing cancer in the patient's body. The availability of diverse cancer treatments and therapy options, contingent on the cancer type and stage, includes targeted therapy, immunotherapy, hormone therapy, and stem cell transplant. The projected period anticipates market growth due to the increasing global prevalence of cancer, augmented cancer research, and heightened government efforts in promoting cancer awareness.

Globocan 2020 data revealed an anticipated 19,292,789 new global cancer cases, with approximately 9,958,133 cancer-related deaths. Additionally, the International Agency for Research on Cancer (IARC) predicts a surge in the global cancer burden to 27.5 million new cases and 16.3 million deaths by 2040. This rising cancer incidence is expected to elevate the demand for advanced cancer medications and diagnostics, aligning with the ascent of digital technologies. Consequently, the Digital Oncology Therapeutics market is poised for rapid growth throughout the forecast period.

COVID-19 Impact on the Digital Oncology Therapeutics Market

The COVID-19 pandemic has exerted a significant influence on global healthcare systems and, correspondingly, the Digital Oncology Therapeutics market. A study published in Cancer Connect 2020 reported a 46% decline in diagnoses for the six most prevalent cancer types (breast, colorectal, lung, pancreatic, gastric, and esophageal cancers) during the pandemic, as per findings from Cancer Institutes. Various health organizations, including the Centers for Disease Control and Prevention (CDC), recommended delaying cancer screening, health-prevention services, and elective surgeries unless the benefits outweighed the risks, emphasizing the need to prioritize hospital infrastructure for COVID-19 patients. While the pandemic has substantially impacted the Digital Oncology Therapeutics market, a gradual improvement is anticipated with the reopening and restoration of the economy.

MARKET DRIVERS

The growth of the digital oncology therapeutics market is fueled by the increasing global penetration of the internet.

Two primary factors propelling market growth are the expansion in research and development (R&D) and the heightened incidence of various malignancies. Targeted therapy's rising popularity is attributed to its capacity to selectively target cancer cells, sparing non-target cells from toxicity. Notably, the prevalence of bone cancer, the most common cancer in the region, and the effective treatment of bone cancer cases with targeted therapy contribute to market expansion. With increased regulatory approvals and a surge in cancer prevalence across all types, the market is poised for rapid growth throughout the forecast period.

The industry is experiencing growth due to a heightened demand for personalized medicine.

Cancer, a devastating disease claiming numerous lives annually, necessitates treatments beyond conventional approaches like chemotherapy or radiation, effective in only a limited patient subset. The heterogeneity of tumors in terms of origin and protein expression calls for the development of precision and well-supported medication (PPM). Collecting PPM data to elucidate molecular variations between tumors has become essential, with advancements in technology aiding the popularity of PPM cancer treatments and contributing to global market growth.

MARKET RESTRAINTS

The reluctance of patients to embrace digital therapies poses a constraint on market expansion.

Digital therapeutics providers encounter a significant challenge in encouraging individuals, particularly older and underprivileged populations, to adopt digital treatments due to limited technological awareness. Moreover, the impact of digital treatments on patients with resistance remains uncertain, and there is insufficient evidence regarding total patient retention and long-term outcomes. The reliance of many patients on traditional diagnostic and treatment methods, coupled with hesitancy towards adopting new treatments, represents a substantial threat to the digital therapies sector.

Digital Oncology Therapeutics: By Product Type

Digital Oncology Therapeutics encompasses various product types, including:

1. Digital Therapeutics (DTx)
2. Digital Diagnostics and Monitoring Tools
3. Digital Decision Support Systems
4. Tele-oncology Solutions

In 2022, the segment holding the highest market share is expected to be Digital Diagnostics and Monitoring Tools. The surge in cancer cases underscores the imperative for efficient diagnosis and continuous monitoring during treatment. Additionally, the Digital Therapeutics segment is projected to be the fastest-growing, driven by the widespread adoption of smartphone technologies and the cost-effective performance of digital healthcare solutions.

Digital Oncology Therapeutics: By Technology

The technological landscape of Digital Oncology Therapeutics involves various technologies, including:

• Artificial Intelligence (AI) and Machine Learning (ML)
• Big Data and Analytics
• Mobile Health (mHealth) and Wearables
• Internet of Medical Things (IoMT)
• Blockchain
• Telemedicine
• Virtual Reality (VR) and Augmented Reality (AR)

The AI and ML technology segment dominated in 2022, holding a market share of approximately 35.8%. Integrating AI with chemotherapy enhances the customization of patient profiles, facilitating tailored treatment. Ongoing research activities aimed at AI integration into chemotherapy further propel the growth of this segment. Meanwhile, the Mobile Health and Wearables segment is poised to be the fastest-growing technology segment, fueled by increased disposable income and the widespread adoption of digital technologies and smart electronics.

Digital Oncology Therapeutics: By Application

Applications of Digital Oncology Therapeutics include:

• Cancer Screening and Diagnosis
• Treatment Decision Support
• Remote Patient Monitoring
• Cancer Symptom and Side Effect Management
• Patient Engagement and Education
• Clinical Trials and Research

The Cancer Screening and Diagnosis segment dominated the market revenue in 2022, driven by the global burden of cancer cases and the introduction of digital diagnostics platforms for cancer screening.

Digital Oncology Therapeutics: By End-User

End-users of Digital Oncology Therapeutics encompass:

• Hospitals and Clinics
• Pharmaceutical and Biotechnology Companies
• Cancer Research Institutes
• Patients and Caregivers
• Payers and Insurers

The Patients and Caregivers segment held the highest share (33.0%) of the total market revenue in 2022. Increased adoption of digital therapeutic solutions by patients contributes significantly to this growth. Simultaneously, the Hospital and Clinic segment is expected to experience the fastest Compound Annual Growth Rate (CAGR) during the forecast period, driven by healthcare providers implementing digital therapeutics for clinically proven oncology therapies.

Digital Oncology Therapeutics by Region

The global market for Digital Oncology Therapeutics is categorized regionally into:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

North America is anticipated to be the largest market, owing to the prevalence of chronic diseases and supportive government measures for technological innovation in digital therapeutics. The United States is expected to lead in revenue generation due to refined pay structures and increased investments in the digital therapeutics field. Conversely, the Asia-Pacific region is forecasted for substantial growth, attributed to the rising incidence of chronic illnesses, an aging population, and the adoption of digital treatments.

Digital Oncology Therapeutics by the Company

The competitive landscape of digital oncology therapeutics includes major companies such as:

1. Amgen Inc.
2. AstraZeneca plc
3. Bayer AG
4. Bristol-Myers Squibb Company
5. Pfizer Inc
6. Novartis AG
7. Johnson & Johnson

Significant firms maintain market dominance through strategic collaborations and increased investments in oncology research. For instance, GlaxoSmithKline PLC's acquisition of TESARO Inc. in January 2020 expanded their pipeline and commercial capabilities in cancer research, securing a global presence.

RECENT ADVANCEMENTS IN DIGITAL ONCOLOGY THERAPEUTICS

STRATEGIC ALLIANCES AND COOPERATION During March 2021, a collaboration was established between Pear Therapeutics (US) and Spectrum Health Systems (US). Pear Therapeutics initiated a partnership with Tufts Health Plan and Spectrum Health Systems to assess the efficacy of FDA-approved digital therapeutics designed to support individuals with substance use disorders in their recovery process. The collaboration aims to enhance treatment accessibility and foster innovation in care, addressing the diverse needs of individuals on their recovery journeys.