COVID-19 accelerates digital health innovations

The digital health market is set to reach $15.4b by 2030.

The COVID-19 pandemic has fast-tracked the use of digital health technologies, including AI and machine learning, in healthcare, according to GlobalData.

The report estimates that the digital health market was valued at $5.9b in 2023 and is set to reach $15.4b by 2030, with a compound annual growth rate (CAGR) of 13.10%.

One example is Otsuka’s Rejoyn, a prescription-only app designed to enhance traditional treatments for major depressive disorder. It has recently obtained FDA 510(k) clearance, confirming its safety and efficacy. This also marks a significant milestone in the rapidly growing regulated mHealth app market, according to GlobalData.

“Developed in collaboration with Click Therapeutics, Rejoyn utilises an emotion-recognition feature to engage neural pathways essential for emotional processing,” said Kamilla Kan, senior data scientist, Medical Devices team at GlobalData. 

“In a pivotal six-week trial, Rejoyn demonstrated a statistically significant improvement in depression severity as measured by the Montgomery-Åsberg Depression Rating Scale,” she added.

The mHealth app market, which grew steadily from 2015 to 2019, saw a dramatic increase of over 100% from 2019 to 2020. 

“The surge highlights the accelerated adoption of mobile health solutions, driven by the need for advanced, accessible treatments,” said Kan. “Rejoyn’s launch, integrating cognitive behavioral therapy into an app-based format, exemplifies this shift and underscores the ongoing growth in app volume, which is projected to continue at a robust pace through 2033.”