Healthcare Digital Twins Market by Type (Product Digital Twin, Process & Digital Twin), Application (Personalized Medicine, Drug Discovery), End User (Hospitals & Clinics, Research & Diagnostic Laboratories), and by Region - Global Forecast to 2022-2033

The healthcare digital twins market size is estimated to be USD 489.7 25 million in 2022 and is expected to witness a CAGR of 26.31% during the forecast period 2023-2033. Surge in usage of the technology in the healthcare sector and increasing use of medical records, mobile applications, sensors, and wearables in the healthcare sector are factors contributing to the market growth. Furthermore, increase in research and development (R&D) efforts, growing public knowledge of the potential uses and benefits of digital twins, and active involvement from major global tech companies in the market is projected to accelerate the market growth. However, growing incidence of security breaches in healthcare facilities and the high costs associated with maintaining the technology’s infrastructure is expected to hinder the growth.

Surge in usage of the technology in the healthcare sector is expected to propel the market growth. For instance, according to an article by AI Multiple from May 2022, 66% of healthcare professionals anticipate soaring investments in digital twins, adoption helps to enhance the performance of healthcare organizations, enable the development of new devices and medications, and facilitate personalization and customization of medicine. Based on an individual’s genetic structure, behavior, and anatomy, personalized treatment offers a great deal of potential due to technology. For instance, Swedish researchers have been mapping mice RNA into multiple digital twin models with the objective of customizing arthritis diagnosis and care for people.

Segmentation

By Type

The market is categorized into product digital twin and process & digital twin. In 2022, the process & digital twin segment accounted for the highest revenue share due to the adoption of artificial intelligence, virtual reality, and mixed reality to optimize processes. Holograms, which enable the use of both virtual and real models for the doctors’ work, are made possible by process and system digital twins. Data from each and every process is delivered to the holograms, which serve as representations of the complete system. The market for product digital twin is predicted to grow at a substantial CAGR over the projected period. It is projected that over the projection period, increasing demand for IoT sensors and electronic manufacturing devices is projected to propel the healthcare sector.

By Application

The market is categorized into personalized medicine, drug discovery, asset & process management, and others. In the global market, the asset & process management segment accounted for the largest revenue share in 2022 owing to increase in the use of this technology by hospitals and other healthcare facilities to determine whether assets require maintenance or repair. In order to make sure that the physical assets are being used to their full potential, the technology also makes it possible to establish digital records of the assets that can be accessed by facility members. It is expected that drug discovery would increase at a CAGR during the projected period. Pharmaceutical companies employ digital twins to enhance and streamline production methods and for drug discovery. The system offers real-time information on each process and enables firms to alter manufacturing stages to increase process efficiency. During the projected period, these reasons are anticipated to propel the segment.

By End User

The market is segmented into hospitals & clinics, research & diagnostic laboratories, clinical research organizations, and others. In 2022, the hospitals & clinics segment accounted for the largest revenue share owing to the fact that digital twins are used to optimize hospital staffing and identify bed shortages. Informed decisions can be made by the staff as a result, which improves resource usage effectiveness while reducing cost. For instance, IBM Process Mining programme, which creates a digital twin that can be used to model healthcare facilities’ businesses and perform simulations to find potential problems. The clinical research organization segment is anticipated to grow at the quickest rate during the projected period due to the fact that t For instance, companies are using AI models trained on historical data to develop digital twins that can forecast the trial outcome for patients if they got the current level of treatment as compared to a placebo. his technique helps these firms to evaluate the efficiency and dosage of the pharmaceuticals on the twins before the actual trials have been completed.

Regional Markets

In 2022, North America region accounted for the highest revenue in the healthcare digital twins market and is expected to maintain its dominance during the forecast period. This is attributed to the high number of automation and digital solution usage in healthcare facilities around the region. The use of the technology is predicted to increase due to the presence of major companies in the region including IBM Corporation, Microsoft, and IQVIA. Additionally, it is projected that the presence of digital infrastructure in the region as a result of lucrative funding and supportive government initiatives will fuel demand for technology in the area. Growing investments in AI-based technologies by venture capitalists, individual investors, and non-profit organizations are predicted to fuel the market in the area. Additionally, it is projected that during the projection period, the region’s increasing IoT device penetration will fuel market demand. For instance, use of IoT devices devices in healthcare, which accounts for 30.3% of all IoT devices across all industries, according to an AuManufacturing article. IoT devices have many applications in the healthcare industry, including monitoring person’s health on the go and protecting personal information.

Competitor Insights

Some of the key players operating in the healthcare digital twins market are Microsoft, ThoughWire, Philips Healthcare, Unlearn.AI, Inc., Dassault Systems (3DS System), QiO Technologies, Atos, Verto Healthcare, Fasttream Technologies, PrediSurge, and Twin Health.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main tactics used by businesses in this sector.

  • For instance, Atos and Siemens collaborated to develop a process digital twin for the pharmaceutical sector in May 2020. The system, which is intended to increase flexibility and efficiency of pharmaceutical product manufacture, will be built on a digital version of the pharmaceutical production process that is powered by advanced analytics, AI, and IoT. These activities is expected to increase competitiveness, supporting market growth during the projection period.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including type, application, and end user from 2023 to 2033.

Report Scope:

Key Parameters Details
Market size in 2022
  • USD 489.7 25 Million
CAGR
  • 26.31%
Base Year
  • 2022
Forecast Period
  • 2023-2033
Study Coverage
  • Global and regional market size and revenue forecast
  • Segment market size and revenue forecast at global, regional, and country level
  • Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis)
  • Conclusion and recommendations
Qualitative Analysis
  • Market drivers
  • Market restraints
  • Market opportunities
  • Recent market trends
  • Market challenges
  • Porter’s Five Forces analysis
  • PEST analysis
  • COVID-19 impact analysis
Segment Market Scope
  • Type
  • Application
  • End user
Regional Market Scope
  • North America
    (U.S. and Canada)
  • Europe
    (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
  • Asia Pacific
    (China, Japan, India, Australia, South Korea, Rest of APAC)
  • Latin America
    (Brazil, Mexico, Argentina, Rest of LATAM)
  • MEA
    (South Africa, GCC, Rest of MEA)
Company Profiles
  • Exhaustive profiles of top 10 players
  • Other major players listing
15% Free Customization Available
  • You can customize the study scope to meet your exact requirement. Click here for more details

Segmentation: Healthcare Digital Twins Market Report 2022 – 2033

Type (Revenue, USD Million), 2022 – 2033

  • Product Digital Twin
  • Process & Digital Twin

Application (Revenue, USD Million), 2022 – 2033

  • Personalized Medicine
  • Drug Discovery
  • Asset & Process Management
  • Others

End user (Revenue, USD Million), 2022 – 2033

  • Hospitals & Clinics
  • Research & Diagnostic Laboratories
  • Clinical Research Organizations
  • Others

By Region (Revenue, USD Million), 2022 – 2033

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of LATAM
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of MEA

Table of Contents: Healthcare Digital Twins Market 2022-2033

  1. Research Methodology
    1. Study Objectives
    2. Study Scope
    3. Research Framework
      1. Research Models
        1. Bottom-up Approach
        2. Top-down Approach
        3. Data Triangulation
      2. Data Analysis
        1. Data Validation
        2. Market Size Estimation
        3. Market Forecast Model
  1. Introduction: Healthcare Digital Twins
  2. Executive Summary
  3. Market Dynamics
    1. Market Drivers
      1. Driver 1
      2. Driver 2
      3. Driver 3
      4. Driver 4
    2. Market Restraint
      1. Restraint 1
      2. Restraint 2
      3. Restraint 3
    3. Market Opportunities
      1. Opportunity 1
      2. Opportunity 2
      3. Opportunity 3
    4. Market Trends
      1. Trend 1
      2. Trend 2
      3. Trend 3
    5. Market Challenges
      1. Challenge 1
      2. Challenge 2
      3. Challenge 3
  1. Market Environment Analysis
    1. Porter’s 5 Forces Analysis
    2. PESTEL Analysis
    3. SWOT Analysis
  2. COVID-19 Impact Analysis: Healthcare Digital Twins Market
  3. Market Analysis by Type
    1. Product Digital Twin
      1. Product Digital Twin Market Forecast, 2022-2033(USD Million)
    2. Process & Digital Twin
      1. Process & Digital Twin Market Forecast, 2022-2033(USD Million)
  1. Market Analysis by Application
    1. Personalized Medicine
      1. Personalized Medicine Market Forecast, 2022-2033(USD Million)
    2. Drug Discovery
      1. Drug Discovery Market Forecast, 2022-2033(USD Million)
    3. Asset & Process Management
      1. Asset & Process Management Market Forecast, 2022-2033(USD Million)
    4. Others
      1. Others Market Forecast, 2022-2033(USD Million)
  1. Market Analysis by End User
    1. HCIT Outsourcing Companies
      1. HCIT Outsourcing Companies Market Forecast, 2022-2033(USD Million)
    2. Healthcare Providers
      1. Healthcare Providers Market Forecast, 2022-2033(USD Million)
  1. Regional Market Analysis
    1. Regional Market Trends Analysis
  2. North America Healthcare Digital Twins Market
    1. North America Healthcare Digital Twins Market
      1. North America Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Type, 2022-2033(USD Million)
        2. Market Size and Forecast by Application, 2022-2033(USD Million)
        3. Market Size and Forecast by End User, 2022-2033(USD Million)
      2. S. Healthcare Digital Twins Market
        1. S. Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Type, 2022-2033(USD Million)
          2. Market Size and Forecast by Application, 2022-2033(USD Million)
          3. Market Size and Forecast by End User, 2022-2033(USD Million)
        2. Canada Healthcare Digital Twins Market
          1. Canada Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Type, 2022-2033(USD Million)
            2. Market Size and Forecast by Application, 2022-2033(USD Million)
            3. Market Size and Forecast by End User, 2022-2033(USD Million)
  1. Europe Healthcare Digital Twins Market
    1. Europe Healthcare Digital Twins Market
      1. Europe Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Type, 2022-2033(USD Million)
        2. Market Size and Forecast by Application, 2022-2033(USD Million)
        3. Market Size and Forecast by End User, 2022-2033(USD Million)
      2. Germany Healthcare Digital Twins Market
        1. Germany Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Type, 2022-2033(USD Million)
          2. Market Size and Forecast by Application, 2022-2033(USD Million)
          3. Market Size and Forecast by End User, 2022-2033(USD Million)
        2. UK Healthcare Digital Twins Market
          1. UK Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Type, 2022-2033(USD Million)
            2. Market Size and Forecast by Application, 2022-2033(USD Million)
            3. Market Size and Forecast by End User, 2022-2033(USD Million)
          2. France Healthcare Digital Twins Market
            1. France Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Type, 2022-2033(USD Million)
              2. Market Size and Forecast by Application, 2022-2033(USD Million)
              3. Market Size and Forecast by End User, 2022-2033(USD Million)
            2. Spain Healthcare Digital Twins Market
              1. Spain Market Size and Forecast, 2022-2033(USD Million)
                1. Market Size and Forecast by Type, 2022-2033(USD Million)
                2. Market Size and Forecast by Application, 2022-2033(USD Million)
                3. Market Size and Forecast by End User, 2022-2033(USD Million)
              2. Italy Healthcare Digital Twins Market
                1. Italy Market Size and Forecast, 2022-2033(USD Million)
                  1. Market Size and Forecast by Type, 2022-2033(USD Million)
                  2. Market Size and Forecast by Application, 2022-2033(USD Million)
                  3. Market Size and Forecast by End User, 2022-2033(USD Million)
                2. Rest of Europe Healthcare Digital Twins Market
                  1. Rest of Europe Market Size and Forecast, 2022-2033(USD Million)
                    1. Market Size and Forecast by Type, 2022-2033(USD Million)
                    2. Market Size and Forecast by Application, 2022-2033(USD Million)
                    3. Market Size and Forecast by End User, 2022-2033(USD Million)
  1. Asia Pacific Healthcare Digital Twins Market
    1. Asia Pacific Healthcare Digital Twins Market
      1. Asia Pacific Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Type, 2022-2033(USD Million)
        2. Market Size and Forecast by Application, 2022-2033(USD Million)
        3. Market Size and Forecast by End User, 2022-2033(USD Million)
      2. Japan Healthcare Digital Twins Market
        1. Japan Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Type, 2022-2033(USD Million)
          2. Market Size and Forecast by Application, 2022-2033(USD Million)
          3. Market Size and Forecast by End User, 2022-2033(USD Million)
        2. China Healthcare Digital Twins Market
          1. China Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Type, 2022-2033(USD Million)
            2. Market Size and Forecast by Application, 2022-2033(USD Million)
            3. Market Size and Forecast by End User, 2022-2033(USD Million)
          2. India Healthcare Digital Twins Market
            1. India Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Type, 2022-2033(USD Million)
              2. Market Size and Forecast by Application, 2022-2033(USD Million)
              3. Market Size and Forecast by End User, 2022-2033(USD Million)
            2. South Korea Healthcare Digital Twins Market
              1. South Korea Market Size and Forecast, 2022-2033(USD Million)
                1. Market Size and Forecast by Type, 2022-2033(USD Million)
                2. Market Size and Forecast by Application, 2022-2033(USD Million)
                3. Market Size and Forecast by End User, 2022-2033(USD Million)
              2. Australia Healthcare Digital Twins Market
                1. Australia Market Size and Forecast, 2022-2033(USD Million)
                  1. Market Size and Forecast by Type, 2022-2033(USD Million)
                  2. Market Size and Forecast by Application, 2022-2033(USD Million)
                  3. Market Size and Forecast by End User, 2022-2033(USD Million)
                2. Rest of Asia Pacific Healthcare Digital Twins Market
                  1. Rest of Asia Pacific Market Size and Forecast, 2022-2033(USD Million)
                    1. Market Size and Forecast by Type, 2022-2033(USD Million)
                    2. Market Size and Forecast by Application, 2022-2033(USD Million)
                    3. Market Size and Forecast by End User, 2022-2033(USD Million)
  1. Latin America Healthcare Digital Twins Market
    1. Latin America Healthcare Digital Twins Market
      1. Latin America Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Type, 2022-2033(USD Million)
        2. Market Size and Forecast by Application, 2022-2033(USD Million)
        3. Market Size and Forecast by End User, 2022-2033(USD Million)
      2. Brazil Healthcare Digital Twins Market
        1. Brazil Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Type, 2022-2033(USD Million)
          2. Market Size and Forecast by Application, 2022-2033(USD Million)
          3. Market Size and Forecast by End User, 2022-2033(USD Million)
        2. Mexico Healthcare Digital Twins Market
          1. Mexico Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Type, 2022-2033(USD Million)
            2. Market Size and Forecast by Application, 2022-2033(USD Million)
            3. Market Size and Forecast by End User, 2022-2033(USD Million)
          2. Argentina Healthcare Digital Twins Market
            1. Argentina Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Type, 2022-2033(USD Million)
              2. Market Size and Forecast by Application, 2022-2033(USD Million)
              3. Market Size and Forecast by End User, 2022-2033(USD Million)
            2. Rest of Latin America Healthcare Digital Twins Market
              1. Rest of Latin America Market Size and Forecast, 2022-2033(USD Million)
                1. Market Size and Forecast by Type, 2022-2033(USD Million)
                2. Market Size and Forecast by Application, 2022-2033(USD Million)
                3. Market Size and Forecast by End User, 2022-2033(USD Million)
  1. MEA Healthcare Digital Twins Market
    1. MEA Healthcare Digital Twins Market
      1. MEA Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Type, 2022-2033(USD Million)
        2. Market Size and Forecast by Application, 2022-2033(USD Million)
        3. Market Size and Forecast by End User, 2022-2033(USD Million)
      2. GCC Healthcare Digital Twins Market
        1. GCC Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Type, 2022-2033(USD Million)
          2. Market Size and Forecast by Application, 2022-2033(USD Million)
          3. Market Size and Forecast by End User, 2022-2033(USD Million)
        2. South Africa Healthcare Digital Twins Market
          1. South Africa Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Type, 2022-2033(USD Million)
            2. Market Size and Forecast by Application, 2022-2033(USD Million)
            3. Market Size and Forecast by End User, 2022-2033(USD Million)
          2. Rest of MEA Healthcare Digital Twins Market
            1. Rest of MEA Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Type, 2022-2033(USD Million)
              2. Market Size and Forecast by Application, 2022-2033(USD Million)
              3. Market Size and Forecast by End User, 2022-2033(USD Million)
  1. Competitor Analysis
    1. Market Share Analysis, 2022
    2. Major Recent Developments, 2019-2022
  2. Company Profiles
    1. Microsoft
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    2. ThoughWire
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    3. Philips Healthcare
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    4. AI, Inc.
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    5. Dassault Systems (3DS System)
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    6. QiO Technologies
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    7. Atos
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    8. Verto Healthcare
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    9. Fasttream Technologies
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    10. PrediSurge
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    11. Twin Health
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    12. Company 12
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    13. Company 13
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    14. Company 14
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    15. Company 15
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
  1. Conclusion
  2. Recommendations

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