Published: July 2023
Top digital twin players have been selected based on proprietary company competitiveness analysis by taking into consideration their portfolio strength and other recent initiatives taken by the firm. These companies are instrumental in pushing the boundaries of digital twins for their active use in the healthcare market. We analyzed a comprehensive list of digital twin companies that have the required capabilities to offer digital twins in the healthcare market. In this article, discover 5 leading digital twin companies and their capabilities in this industry.
In recent years, there have been significant advancements related to technologies, such as artificial intelligence, deep learning, machine learning, and big data. These programs have now garnered significant interest from players engaged in various domains, including healthcare. A digital twin, in its essence, is a virtual model that employs real-world data to create simulations, which are capable of predicting the performance of a system or a process. In the healthcare domain, digital twins are poised to make a significant impact, offering diverse applications ranging from asset and process management to personalized treatment, surgical planning, and precise diagnosis. These virtual replicas of physical entities empower healthcare professionals with invaluable insights, optimizing decision-making and ultimately enhancing patient care. With digital twins at the forefront of medical innovation, healthcare organizations are embracing this groundbreaking technique to unlock unprecedented efficiency, accuracy, and personalization in their practices. Roots Analysis has conducted an exhaustive study on Digital Twin Market featuring the current market landscape, market size and future opportunity for the companies involved in the digital twins in healthcare market, over a span of 13 years.
Digital twins provide insights on improving efficiency and quality of the product. It is worth mentioning that about 15% of organizations that implement IoT projects have already started using digital twin platforms, while over 60% of the firms are either planning or already in the process of establishing digital twin technology in their existing workflows in the near future.
The top five companies offering digital twins in healthcare are listed below (in alphabetical order):
Interested in exploring all Digital Twin Companies and their Use Cases in Healthcare Industry?
This article highlights the five leading digital twin companies to watch out for in the healthcare industry. These companies were chosen based on their portfolio strength (in terms of number of products, status of development, area(s) of application, technology used, end user(s) and type of twin(s)), partnerships strength (in terms of number of partnerships, year of partnership, and type of partnership) and funding strength (in terms of number of funding instances, amount of funding, year of funding and type of funding. It is essential to note that the selection of top digital twin technology companies can differ substantially according to the defined criteria(s).
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Babylon is a UK-based digital healthcare company that aims to promote proactive healthcare through the use of advanced technology-based devices. As per the company’s website, it is engaged in offering virtual clinical operations. Through its offerings, the firm intends to provide accessible and affordable personalized healthcare by combining AI technology with the experience and expertise of doctors and medical practitioners. It is also worth mentioning that the company claims to have established a global patient network, which spans across 15 countries.
Babylon offers a digital twin platform named, Healthcheck, that leverages digital twin technology to transform the way individuals engage with their health. This product claims to provide personalized and accessible healthcare services by utilizing the power of digital twins in the healthcare industry. At its core, Healthcheck claims to utilize digital twins to create virtual representations of individuals, enabling them to monitor and manage their health in real time.
Type of Digital Twins Offered by Babylon: Whole Body Twin, Body Part Twin
Area of Application of Digital Twins Offered by Babylon: Health Monitoring
Recent Developments: In January 2022, the company announced the acquisition of DayToDay Health. This acquisition aims to enhance Babylon's capabilities in providing comprehensive healthcare solutions that support patients' recovery and reduce the need for hospital readmissions. Further information related to recent developments, services offered, therapeutic area(s), technology used, and end users is available in the full report.
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ExactCure is a France-based digital twin company engaged in the healthcare domain. The company claims to harness advanced pharmacokinetic modeling and artificial intelligence technologies, aiming to enable healthcare professionals to optimize drug responses, drug dosage and predict possible treatment outcomes based on patients' unique characteristics, such as genetic information, organ functions, medical history, and previous medications. According to the company website, the company is focused on improving treatment outcomes and enhancing patient safety through the use of personalized medicine approaches.
ExactCure offers a full-body digital twin technology that creates virtual replicas of patients, taking into consideration various factors, such as demographics, genetics, and medical history of the patients. According to company website, this digital twin simulates and predicts drug responses, enabling healthcare professionals to personalize medication selection, dosage, and treatment plans aiming to improve the efficacy and safety of drug therapies by tailoring them to the specific needs of each patient.
Type of Digital Twins Offered by ExactCure: Whole Body Twin, Body Part Twin
Area of Application of Digital Twins Offered by ExactCure: Personalized Treatment
Recent Developments: In June 2022, the company announced a partnership with Qiti. Through this agreement, Qiti aims to expedite its medical care and optimize its medical treatments by using ExactCure’s proprietary healthcare technologies. Further information related to recent developments, services offered, therapeutic area(s), technology used, and end users is available in the full report.
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Tata Consultancy Services (TCS) is an India-based IT services and consulting company. The company claims to have a vast network of expertise to provide innovative solutions and drive digital transformations across a number of sectors, including healthcare. In the healthcare domain, the company claims to offer a comprehensive range of services and solutions that are tailored to the unique needs of healthcare organizations. The company leverages advanced technologies, such as AI, cloud computing, and digital twin technology to enable healthcare providers to achieve their digital objectives.
TCS developed a digital twin platform named, TCS Digital Skin Twin Platform, that emulates human skin generating microscopic models of the skin which facilitates the in-silico testing of drug and cosmetic formulations. This platform, developed using multiscale modeling and virtual reality technology, claims to reduce the use of animal models for the trials associated with pharmaceutical and cosmetic product design and development.
Type of Digital Twins Offered by Certara: Body Part Twin
Area of Application of Digital Twins Offered by Certara: Diagnosis, Health Monitoring
Recent Developments: In May 2023, a spokesperson from the company informed the media about their plans to address the challenges faced by the clinical trials industry in India, such as high costs and lengthy timelines. By utilizing digital twin technology, TCS aims to streamline and optimize various aspects of the clinical trials process. Further information related to recent developments, services offered, therapeutic area(s), technology used, and end users is available in the full report.
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Twin Health is a US-based digital twin technology company specializing in the development of advanced visualization techniques for the development of innovative pharma digital twin platforms and technologies. The company claims to offer virtual reality-based solutions that integrate artificial intelligence, computer vision, and surgical simulation to generate digital twins of patients, with the potential to be used for a range of healthcare applications. Healthcare providers can use its proprietary technologies to access virtual replicas of the patients in order to enable precise surgical planning and to facilitate medical training.
Twin Health offers a digital twin platform named, Whole Body Digital Twin™. Their platform integrates various data sources, including medical imaging, patient records, and real-time health data in order to generate an accurate and dynamic digital representation of the patient. The company claims that its platform supports personalized intervention by analyzing the patient's digital twin data and can help predict treatment outcomes.
Type of Digital Twins Offered by Twin Health: Whole Body Twin
Area of Application of Digital Twins Offered by Twin Health: Personalized Treatment
Recent Developments: In October 2021, the company announced closure of Series A funding round by raising an additional capital of USD 140 million. The key investors involved in this transaction include ICONIQ Growth, Sequoia Capital India, Perceptive Advisors, Corner Ventures, LTS Investments, Helena and Sofina. Further information related to recent developments, services offered, therapeutic area(s), technology used, and end users is available in the full report.
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Unlearn is a US-based company engaged in the development of solutions that are capable of reducing clinical trial timelines. It offers a platform that can accelerate drug development by pioneering computational clinical trials. Further, its digital twin products are designed to replicate patients’ characteristics in trials to enable faster and efficient clinical studies using a combination of artificial intelligence and historical data obtained from previously-run trials.
Unlearn offers a digital twin platform named, TwinRCTs™. The platform creates precise and dynamic digital replicas of patients, enabling researchers and healthcare professionals to simulate and analyze the effects of clinical treatments in a controlled environment. This platform aims to solve the challenges associated with conventional clinical trial studies, such as high costs, lengthy timelines, and limited diversity of participants. The platform reduces the control arm size by up to 35%, helping increase the intervention arm size.
Type of Digital Twins Offered by Twin Health: Whole Body Twin
Area of Application of Digital Twins Offered by Twin Health: Clinical Trials
Recent Developments: In April 2022, the company announced that it raised USD 50 million in a Series B funding round. The key investors involved in this transaction include Insight Partners, 8VC, DCVC, DCVC Bio and Mubadala Capital Ventures. Further information related to recent developments, services offered, therapeutic area(s), technology used, and end users is available in the full report.
The above presentation features five promising players from a pool of digital twin companies that we have compiled. If you're interested, you can download the Sample Report on this topic by Roots Analysis. For personalized assistance in identifying the most relevant solutions based on your specific criteria, please don't hesitate to reach out to us at sales@rootsanalysis.com.
Ronit is an accomplished business research and competitive intelligence professional with over six years of experience in the pharmaceutical / healthcare industry. As a team leader at Roots Analysis, Ronit has directly worked with several clients and authored numerous multidisciplinary market research reports that have explored the latest innovations in healthcare and the digital transformation of the pharmaceutical industry. Ronit's exceptional analytical skills have contributed to the firm's intellectual capital and provided valuable insights to clients. He is a natural leader and people manager who cultivates an environment of excellence, creativity, and innovation. Ronit is currently leading efforts to develop new strategic and analytical frameworks to address unmet needs within the industry, leveraging his deep understanding of the market landscape and trends to identify areas of opportunity for clients.
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