- The Company’s Special Committee, led by
Najla Guthrie ,Will Seek to Uncover New Opportunities in the Use of Digital Therapeutics for Mental Health as the Company Forges Ahead With its Recently Refreshed Competitive Strategy - The Global Digital Therapeutics Market is Projected to Reach
USD 13.1 Billion by 2026 fromUSD 3.4 Billion in 2021, Which Equates to a CAGR of 31.4% During the Forecast Period
The global digital therapeutics market is projected to reach
Overall, digital therapeutics is an evidence-based therapeutic intervention that can be used independently or in collaboration with medications, devices, and other therapies to optimize patient care and health outcomes. Digital therapeutic products aim to produce a medical intervention that is software-driven, is based on evidence, incorporates privacy and security for patients, and ultimately provides patients with an alternative solution for traditional medical practices.2 Also, digital therapeutics can be available in multiple languages, which increases the accessibility of treatment for many populations with language barriers within the healthcare system.3
Empowering patients and clinicians with intelligent and accessible tools for addressing a wide range of conditions through high quality, safe, and effective data-driven interventions, is the main goal of digital therapeutics and aligns with the Company’s recently updated mission and values:
- To enrich lives through mental healthcare services;
- To transform lives, improve patient experience, through a contemporary, global and comprehensive mental healthcare model of service;
- To equip clinicians with new tools to complement existing pharmacotherapeutic approaches;
- To re-conceptualize the way mental health services are delivered to the community; and
- To make a positive impact on the lives of patients, create an active network of collaborating mental health experts, foster future innovation, and re-engineer the way present-day mental healthcare services are delivered to create change and improve patient outcomes.
Management Commentary
“We at Wellbeing are excited to form the Special Committee regarding digital therapeutics to learn more about opportunities that may potentially exist and be worth exploring from a commercial perspective. I look forward to adding key staff members and other advisors to the Special Committee in the near future, so the Company can be best positioned to capitalize on this growing market opportunity and ultimately help more people improve their mental health,” said
ABOUT
On behalf of:
"Najla Guthrie”
For further information, please contact:
Tel: 1-844-746-6351
Email: ir@wellbeingdigital.co
Web: www.wellbeingdigital.co
Twitter: @Wellbeing_IR
Notice Regarding Forward-Looking Information:
This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.
ENDNOTES
- “Digital Therapeutics (DTx) Market by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel (B2C, Patient, Caregiver, B2B, Providers, Payer, Employer, Pharma) - Global Forecasts to 2026”, Markets and Markets, accessed on
April 21, 2022 , https://www.marketsandmarkets.com/Market-Reports/digital-therapeutics-market-51646724.html?gclid=Cj0KCQjwgYSTBhDKARIsAB8KuksDuYPH_PFilO7XaV9g2-Ll2S-0rmPsfgr25AhhsaYwLnmjcP1XxcMaAnL8EALw_wcB - “The Expanding Role of Digital Therapeutics in Mental Health”, Gregory P. Licholai, Psychiatric
Times ,August 13, 2021 , https://www.psychiatrictimes.com/view/the-expanding-role-of-digital-therapeutics-in-mental-health - “Digital Therapeutics Definition and Core Principles: Digital therapeutics definition”,
Digital Therapeutics Alliance ,November 2019 , https://dtxalliance.org/wp-content/uploads/2021/01/DTA_DTx-Definition-and-Core-Principles.pdf
SOURCE:
Source:
2022 GlobeNewswire, Inc., source