The Digital Twins in Healthcare Market, size was estimated USD 610.1 million in 2023 and is expected to reach USD 4504.73 million by 2031 at a CAGR of 25.97% during the forecast period of 2024-2031.
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In healthcare, digital twins are used to create digital representations of healthcare data such as lab results, hospital environments, and human physiology. The representations aid in cost optimisation, efficiency improvement, and forecasting future demand. These are some of the important reasons that are expected to boost technology demand throughout the projected period. Digital twins contribute to the transformation of the healthcare business by using a real-time interactive and integrated approach to data capture, effective treatments, and providing real-time data-backed feedback. Rising usage of medical records, sensors, mobile apps, and wearables to monitor patient data in the healthcare business is expected to fuel demand for this technology.
The rising usage of this technology in the healthcare sector, as well as the positive attitude of healthcare professionals towards technology adoption, are expected to boost the market. In May 2022, 66% of healthcare professionals anticipate increased investments in digital twins, the adoption of which helps to improve healthcare organisation performance, facilitate personalization of medicine, provide customizations, and enable the development of new devices and medications. The technique holds enormous potential for the creation of personalised treatments based on an individual's genetic composition, behaviour, and anatomy.
DRIVERS
Public and corporate organisations are increasing their investments in digital twin technologies.
There has been a surge of interest in digital twin technology in recent years. This is a concept that includes generating a virtual counterpart of a physical product, system, or process. Manufacturing, healthcare, construction, and infrastructure management are just a few of the areas where technology is being used. As a result, both public and commercial organisations have increased their investments in digital twin technology, seeing its potential to stimulate innovation while also improving operational efficiency. Universities, research institutions, hospitals, and technology firms are just a few examples. Siemens, Philips, the Fraunhofer Institute, the Technical University of Munich, Imperial College London, and the Karolinska Institute are among the project's key partners. Over a ten-year period, it has received USD 1,181 million in investment.
RESTRAIN
Managing difficulties with data integrity and privacy, as well as expensive implementation costs.
OPPORTUNITY
Growing emphasis on cutting-edge real-time data analytics.
Massive volumes of data are generated by digital twins, which may be analysed in real time to give insights into patient health, resource utilisation, and operational efficiency. A hospital's digital twins, for example, can gather and analyse real-time data from numerous sources, such as medical devices, electronic health records, and Internet of Things sensors, to anticipate probable equipment problems, forecast patient outcomes, and find areas of operational inefficiency. Real-time data analytics may also assist healthcare practitioners in developing effective treatment plans, allocating resources, and providing quality patient care. Data analytics is the foundation of comprehensive digital twin technology. Digital twins and analytics, if developed, will give more accurate diagnostics as well as optimal and predictive operations.
CHALLENGES
A lack of technical skills and problems with data management.
Instability in the economy Armed conflicts can have a negative impact on the economies of the nations involved as well as the area as a whole. Economic insecurity may lead to less investment in healthcare technology, particularly digital twins, as resources are diverted to meet immediate humanitarian needs. Geopolitical implications the conflict's geopolitical tensions may have an influence on international cooperation and partnerships in the healthcare industry. This might have an impact on the flow of knowledge, experience, and resources required for the development and deployment of digital twin technologies in healthcare.
Human resources and brain drain the battle may result in population displacement and brain drain, with competent healthcare workers and researchers leaving impacted areas. This might result in a scarcity of competent employees to drive digital twin development and implementation.
IMPACT OF ONGOING RECESSION
Disruption of healthcare infrastructure and services If the conflict escalates or spreads to areas with significant healthcare infrastructure, it could lead to damage to or disruption of medical facilities and services. This would hinder the deployment and utilisation of digital twin solutions in those regions. In times of conflict, brain drain and talent shortages may occur as skilled professionals, including healthcare workers and technology experts, leave the affected areas seeking safety and stability. This could result in a brain drain and create a shortage of expertise needed to develop and manage digital twins in the healthcare sector. Prioritisation of resources during periods of conflict, governments and organisations often redirect resources towards immediate humanitarian needs, including healthcare services for the affected population.
By Type
Process & System Digital Twin
Product Digital Twin
By Application
Asset And Process Management
Personalized Medicine
Drug Discovery
Others
By End-use
Clinical Research Organizations (CROs)
Hospitals And Clinics
Research & Diagnostic Laboratories
Others
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North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSES
North America led the market. The region's high rate of adoption of automation and digital technologies in healthcare facilities is likely to boost market expansion. The presence of significant businesses in the region, such as IBM Corporation, Microsoft, and IQVIA, is expected to encourage technology adoption. Furthermore, the availability of digital infrastructure in the region as a result of attractive financing and favourable government efforts is expected to stimulate demand for the technology in the region.
During the projection period, Asia-Pacific is expected to expand at the quickest pace of 30.1%. Rising investments in AI-based technologies by venture capitalists, individual investors, and non-profit organisations are expected to fuel the industry in the area. Furthermore, increased IoT device adoption in the area is expected to fuel market demand during the projection period.
The Major Key players are Atos, Dassault Systems (3DS System), Microsoft, Philips Healthcare, Unlearn.AI, Inc., PrediSurge, QiO Technologies, Verto Healthcare, ThoughWire, Fasttream Technologies, Twin Health and others.
Oracle: In April 2023, Oracle (US) worked with Deloitte (UK). This cooperation aims to build a patient-centric, future-ready healthcare delivery system by modernizing electronic health records, optimizing operations, and harnessing AI-driven insights. They want to satisfy the increasing demands of the healthcare business and increase operational efficiency by integrating Deloitte's industry experience with Oracle's technology portfolio.
Microsoft (US): In March 2022, Microsoft (US) collaborated with Johnson & Johnson (US) to build a new digital surgical platform utilizing Azure Digital Twins technology, allowing surgeons to generate a digital twin of a patient's anatomy to plan and practice surgery.
| Report Attributes | Details |
| Market Size in 2023 | US$ 610.1 Mn |
| Market Size by 2031 | US$ 4504.73 Mn |
| CAGR | CAGR of 25.97 % From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Process & System Digital Twin, Product Digital Twin) • By Application (Asset and Process Management, Personalized Medicine, Drug Discovery, Others) • By End-use (Clinical Research Organizations (CROs), Hospitals and Clinics, Research & Diagnostic Laboratories, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Atos, Dassault Systems (3DS System), Microsoft, Philips Healthcare, Unlearn.AI, Inc., PrediSurge, QiO Technologies, Verto Healthcare, ThoughWire, Fasttream Technologies, Twin Health |
| Key Drivers | • Public and corporate organisations are increasing their investments in digital twin technologies. |
| Market Restraints | • Managing difficulties with data integrity and privacy, as well as expensive implementation costs. |
Ans: Digital Twins in Healthcare Market is anticipated to expand by 68.0% from 2023 to 2030.
Ans: USD 76.14 billion is expected to grow by 2030.
Ans: Digital Twins in Healthcare Market size was valued at USD 1.2 billion in 2022.
Ans: In healthcare, digital twins are used to create digital representations of healthcare data such as lab findings, hospital environments, and human physiology. The representations aid in cost optimisation, efficiency improvement, and forecasting future demand. These are some of the important reasons that are expected to boost technology demand throughout the projected period.
Ans: Digital Twins can provide a secure environment for evaluating the impact of changes on system performance.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Digital Twins in Healthcare Market, By Type
8.1 Process & System Digital Twin
8.2 Product Digital Twin
9. Digital Twins in Healthcare Market, By Application
9.1 Asset And Process Management
9.2 Personalized Medicine
9.3 Drug Discovery
9.4 Others
10. Digital Twins in Healthcare Market, By End-use
10.1 Clinical Research Organizations (CROs)
10.2 Hospitals And Clinics
10.3 Research & Diagnostic Laboratories
10.4 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Digital Twins in Healthcare Market, By country
11.2.2North America Digital Twins in Healthcare Market, By Type
11.2.3 North America Digital Twins in Healthcare Market, By Application
11.2.4 North America Digital Twins in Healthcare Market, By End-User
11.2.5 USA
11.2.5.1 USA Digital Twins in Healthcare Market, By Type
11.2.5.2 USA Digital Twins in Healthcare Market, By Application
11.2.5.3 USA Digital Twins in Healthcare Market, By End-User
11.2.6 Canada
11.2.6.1 Canada Digital Twins in Healthcare Market, By Type
11.2.6.2 Canada Digital Twins in Healthcare Market, By Application
11.2.6.3 Canada Digital Twins in Healthcare Market, By End-User
11.2.7 Mexico
11.2.7.1 Mexico Digital Twins in Healthcare Market, By Type
11.2.7.2 Mexico Digital Twins in Healthcare Market, By Application
11.2.7.3 Mexico Digital Twins in Healthcare Market, By End-User
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Digital Twins in Healthcare Market, By country
11.3.1.2 Eastern Europe Digital Twins in Healthcare Market, By Type
11.3.1.3 Eastern Europe Digital Twins in Healthcare Market, By Application
11.3.1.4 Eastern Europe Digital Twins in Healthcare Market, By End-User
11.3.1.5 Poland
11.3.1.5.1 Poland Digital Twins in Healthcare Market, By Type
11.3.1.5.2 Poland Digital Twins in Healthcare Market, By Application
11.3.1.5.3 Poland Digital Twins in Healthcare Market, By End-User
11.3.1.6 Romania
11.3.1.6.1 Romania Digital Twins in Healthcare Market, By Type
11.3.1.6.2 Romania Digital Twins in Healthcare Market, By Application
11.3.1.6.4 Romania Digital Twins in Healthcare Market, By End-User
11.3.1.7 Turkey
11.3.1.7.1 Turkey Digital Twins in Healthcare Market, By Type
11.3.1.7.2 Turkey Digital Twins in Healthcare Market, By Application
11.3.1.7.3 Turkey Digital Twins in Healthcare Market, By End-User
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Digital Twins in Healthcare Market, By Type
11.3.1.8.2 Rest of Eastern Europe Digital Twins in Healthcare Market, By Application
11.3.1.8.3 Rest of Eastern Europe Digital Twins in Healthcare Market, By End-User
11.3.2 Western Europe
11.3.2.1 Western Europe Digital Twins in Healthcare Market, By Type
11.3.2.2 Western Europe Digital Twins in Healthcare Market, By Application
11.3.2.3 Western Europe Digital Twins in Healthcare Market, By End-User
11.3.2.4 Germany
11.3.2.4.1 Germany Digital Twins in Healthcare Market, By Type
11.3.2.4.2 Germany Digital Twins in Healthcare Market, By Application
11.3.2.4.3 Germany Digital Twins in Healthcare Market, By End-User
11.3.2.5 France
11.3.2.5.1 France Digital Twins in Healthcare Market, By Type
11.3.2.5.2 France Digital Twins in Healthcare Market, By Application
11.3.2.5.3 France Digital Twins in Healthcare Market, By End-User
11.3.2.6 UK
11.3.2.6.1 UK Digital Twins in Healthcare Market, By Type
11.3.2.6.2 UK Digital Twins in Healthcare Market, By Application
11.3.2.6.3 UK Digital Twins in Healthcare Market, By End-User
11.3.2.7 Italy
11.3.2.7.1 Italy Digital Twins in Healthcare Market, By Type
11.3.2.7.2 Italy Digital Twins in Healthcare Market, By Application
11.3.2.7.3 Italy Digital Twins in Healthcare Market, By End-User
11.3.2.8 Spain
11.3.2.8.1 Spain Digital Twins in Healthcare Market, By Type
11.3.2.8.2 Spain Digital Twins in Healthcare Market, By Application
11.3.2.8.3 Spain Digital Twins in Healthcare Market, By End-User
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Digital Twins in Healthcare Market, By Type
11.3.2.9.2 Netherlands Digital Twins in Healthcare Market, By Application
11.3.2.9.3 Netherlands Digital Twins in Healthcare Market, By End-User
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Digital Twins in Healthcare Market, By Type
11.3.2.10.2 Switzerland Digital Twins in Healthcare Market, By Application
11.3.2.10.3 Switzerland Digital Twins in Healthcare Market, By End-User
11.3.2.11.1 Austria
11.3.2.11.2 Austria Digital Twins in Healthcare Market, By Type
11.3.2.11.3 Austria Digital Twins in Healthcare Market, By Application
11.3.2.11.4 Austria Digital Twins in Healthcare Market, By End-User
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Digital Twins in Healthcare Market, By Type
11.3.2.12.2 Rest of Western Europe Digital Twins in Healthcare Market, By Application
11.3.2.12.3 Rest of Western Europe Digital Twins in Healthcare Market, By End-User
11.4 Asia-Pacific
11.4.1 Asia-Pacific Digital Twins in Healthcare Market, By country
11.4.2 Asia-Pacific Digital Twins in Healthcare Market, By Type
11.4.3 Asia-Pacific Digital Twins in Healthcare Market, By Application
11.4.4 Asia-Pacific Digital Twins in Healthcare Market, By End-User
11.4.5 China
11.4.5.1 China Digital Twins in Healthcare Market, By Type
11.4.5.2 China Digital Twins in Healthcare Market, By End-User
11.4.5.3 China Digital Twins in Healthcare Market, By Application
11.4.6 India
11.4.6.1 India Digital Twins in Healthcare Market, By Type
11.4.6.2 India Digital Twins in Healthcare Market, By Application
11.4.6.3 India Digital Twins in Healthcare Market, By End-User
11.4.7 Japan
11.4.7.1 Japan Digital Twins in Healthcare Market, By Type
11.4.7.2 Japan Digital Twins in Healthcare Market, By Application
11.4.7.3 Japan Digital Twins in Healthcare Market, By End-User
11.4.8 South Korea
11.4.8.1 South Korea Digital Twins in Healthcare Market, By Type
11.4.8.2 South Korea Digital Twins in Healthcare Market, By Application
11.4.8.3 South Korea Digital Twins in Healthcare Market, By End-User
11.4.9 Vietnam
11.4.9.1 Vietnam Digital Twins in Healthcare Market, By Type
11.4.9.2 Vietnam Digital Twins in Healthcare Market, By Application
11.4.9.3 Vietnam Digital Twins in Healthcare Market, By End-User
11.4.10 Singapore
11.4.10.1 Singapore Digital Twins in Healthcare Market, By Type
11.4.10.2 Singapore Digital Twins in Healthcare Market, By Application
11.4.10.3 Singapore Digital Twins in Healthcare Market, By End-User
11.4.11 Australia
11.4.11.1 Australia Digital Twins in Healthcare Market, By Type
11.4.11.2 Australia Digital Twins in Healthcare Market, By Application
11.4.11.3 Australia Digital Twins in Healthcare Market, By End-User
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Digital Twins in Healthcare Market, By Type
11.4.12.2 Rest of Asia-Pacific Digital Twins in Healthcare Market, By Application
11.4.12.3 Rest of Asia-Pacific Digital Twins in Healthcare Market, By End-User
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Digital Twins in Healthcare Market, By country
11.5.1.2 Middle East Digital Twins in Healthcare Market, By Type
11.5.1.3 Middle East Digital Twins in Healthcare Market, By Application
11.5.1.4 Middle East Digital Twins in Healthcare Market, By End-User
11.5.1.5 UAE
11.5.1.5.1 UAE Digital Twins in Healthcare Market, By Type
11.5.1.5.2 UAE Digital Twins in Healthcare Market, By Application
11.5.1.5.3 UAE Digital Twins in Healthcare Market, By End-User
11.5.1.6 Egypt
11.5.1.6.1 Egypt Digital Twins in Healthcare Market, By Type
11.5.1.6.2 Egypt Digital Twins in Healthcare Market, By Application
11.5.1.6.3 Egypt Digital Twins in Healthcare Market, By End-User
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Digital Twins in Healthcare Market, By Type
11.5.1.7.2 Saudi Arabia Digital Twins in Healthcare Market, By Application
11.5.1.7.3 Saudi Arabia Digital Twins in Healthcare Market, By End-User
11.5.1.8 Qatar
11.5.1.8.1 Qatar Digital Twins in Healthcare Market, By Type
11.5.1.8.2 Qatar Digital Twins in Healthcare Market, By Application
11.5.1.8.3 Qatar Digital Twins in Healthcare Market, By End-User
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Digital Twins in Healthcare Market, By Type
11.5.1.9.2 Rest of Middle East Digital Twins in Healthcare Market, By Application
11.5.1.9.3 Rest of Middle East Digital Twins in Healthcare Market, By End-User
11.5.2 Africa
11.5.2.1 Africa Digital Twins in Healthcare Market, By country
11.5.2.2 Africa Digital Twins in Healthcare Market, By Type
11.5.2.3 Africa Digital Twins in Healthcare Market, By Application
11.5.2.4 Africa Digital Twins in Healthcare Market, By End-User
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Digital Twins in Healthcare Market, By Type
11.5.2.5.2 Nigeria Digital Twins in Healthcare Market, By Application
11.5.2.5.3 Nigeria Digital Twins in Healthcare Market, By End-User
11.5.2.6 South Africa
11.5.2.6.1 South Africa Digital Twins in Healthcare Market, By Type
11.5.2.6.2 South Africa Digital Twins in Healthcare Market, By Application
11.5.2.6.3 South Africa Digital Twins in Healthcare Market, By End-User
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Digital Twins in Healthcare Market, By Type
11.5.2.7.2 Rest of Africa Digital Twins in Healthcare Market, By Application
11.5.2.7.3 Rest of Africa Digital Twins in Healthcare Market, By End-User
11.6 Latin America
11.6.1 Latin America Digital Twins in Healthcare Market, By country
11.6.2 Latin America Digital Twins in Healthcare Market, By Type
11.6.3 Latin America Digital Twins in Healthcare Market, By Application
11.6.4 Latin America Digital Twins in Healthcare Market, By End-User
11.6.5 Brazil
11.6.5.1 Brazil America Digital Twins in Healthcare Market By Type
11.6.5.2 Brazil America Digital Twins in Healthcare Market By Application
11.6.5.3 Brazil America Digital Twins in Healthcare Market by End-User
11.6.6 Argentina
11.6.6.1 Argentina America Digital Twins in Healthcare Market By Type
11.6.6.2 Argentina America Digital Twins in Healthcare Market By Application
11.6.6.3 Argentina America Digital Twins in Healthcare Market by End-User
11.6.7 Colombia
11.6.7.1 Colombia America Digital Twins in Healthcare Market By Type
11.6.7.2 Colombia America Digital Twins in Healthcare Market By Application
11.6.7.3 Colombia America Digital Twins in Healthcare Market by End-User
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Digital Twins in Healthcare Market By Type
11.6.8.2 Rest of Latin America Digital Twins in Healthcare Market By Application
11.6.8.3 Rest of Latin America Digital Twins in Healthcare Market by End-User
12 Company Profile
12.1 Atos.
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Dassault Systems (3DS System).
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Microsoft.
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Philips Healthcare.
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Unlearn.AI, Inc.
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 PrediSurge.
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 QiO Technologies.
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Verto Healthcare.
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 ThoughWire.
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Fasttream Technologies.
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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