The report “Digital Twins in Healthcare Market, Industry Trends and Global Forecasts, till 2035 – Distribution by Therapeutic Area, Type of Digital Twin, Areas of Application, End Users and Key Geographical Regions” has been added to ResearchAndMarkets.com’s offerings.
The global market for digital twins in healthcare is projected to expand from $1.9 billion in 2024 to $33.4 billion by 2035, growing at a CAGR of 30% during the forecast period.
This comprehensive study includes industry trends, detailed market analysis, competitive assessments of companies, partnerships and collaborations, as well as funding and investment insights. The anticipated growth of the digital twins in healthcare market is driven by increasing adoption of digital health technologies, advancements in data analytics and simulation capabilities, and rising demand for personalized medicine.
Digital twins are virtual representations of physical objects or systems, created using real-time data and simulation models. In healthcare, these digital replicas are instrumental in accelerating clinical trials, conducting simulated studies for larger populations, and enhancing treatment efficiency and cost savings in drug design and testing. The proliferation of Industry 4.0 technologies has significantly propelled the growth of digital twins in the healthcare sector, enabling seamless data integration and the development of virtual replicas of physical assets, processes, and human anatomy.
Healthcare executives foresee substantial investments from pharmaceutical companies, with a projected increase of over 65% in investment over the next three years. Digital twins are also pivotal in predicting outcomes of clinical trials and mitigating risks associated with drug development, potentially saving costs in drug design and testing estimated at USD 2.5 billion annually. These technologies empower organizations to implement predictive maintenance strategies, simulate pharmaceutical processes, and enable real-time monitoring, prompting robust exploration of their potential across pharmaceutical companies.
The report identifies over 90 digital twin solutions in the healthcare industry, with process digital twins comprising over 40% of the market. While half of the digital twins are currently used for asset and process management applications, there is a noticeable shift towards applications offering personalized treatment. Artificial intelligence plays a crucial role in the majority of digital twin solutions deployed in healthcare.
Currently, the market is characterized by the presence of more than 75 companies specializing in digital twin solutions for healthcare applications. The landscape is dominated by small to mid-sized technology firms, underscoring the evolving nature of this domain and presenting opportunities for innovation and market expansion. Geographically, Europe hosts the highest proportion of digital twin companies (over 48%), followed by North America (42%), Asia (9%), and the Middle East and North Africa (1%).
With nearly 90% of healthcare executives considering digital twins essential for fostering collaboration within organizations, the demand for virtual simulation, personalized medicine, and predictive maintenance is expected to drive further exploration of digital twin use cases across the pharmaceutical industry.
For further details, including insights into partnerships, collaborations, funding, and investment analyses, the full report offers a comprehensive analysis of the digital twins in healthcare market landscape.
Key Attributes:
- No. of Pages: 210
- Forecast Period: 2024 – 2035
- Estimated Market Value (USD) in 2024: $1.9 Billion
- Forecasted Market Value (USD) by 2035: $33.4 Billion
- Compound Annual Growth Rate: 30.0%
- Regions Covered: Global
Market Share Insights:
- Historical Trend: 2018-2023
- Forecast Period: 2024-2035
- Market Size in 2024: $1.9 Billion
- CAGR: 30%
Therapeutic Area:
- Cardiovascular Disorders
- Metabolic Disorders
- Orthopedic Disorders
- Other Disorders
Type of Digital Twin:
- Process Twins
- System Twins
- Whole Body Twins
- Body Part Twins
Area of Application:
- Asset / Process Management
- Personalized Treatment
- Surgical Planning
- Diagnosis
- Other Applications
End Users:
- Pharmaceutical Companies
- Medical Device Manufacturers
- Healthcare Providers
- Patients
- Other End Users
Key Geographical Regions:
- North America
- Europe
- Asia
- Latin America
- Middle East and North Africa
- Rest of the World
Key Companies Profiled:
- BigBear.ai
- Certara
- Dassault Systemes
- DEO
- Mesh Bio
- NavvTrack
- OnScale
- Phesi
- PrediSurge
- SingHealth
- Twin Health
- Unlearn
- Verto
- VictoryXR
- Virtonomy
Customization Scope: 15% Free Customization
Excel Data Packs: Complimentary
Additional Analysis:
- Market Landscape Analysis
- Partnership and Collaboration Analysis
- Funding and Investment Analysis
- Berkus Start-up Valuation Analysis
- Market Forecast and Opportunity Analysis
