Digital Twins in Healthcare Market Revenue to Cross US$ 33 billion by 2035

Published: April 2024


According to a recently published report by Roots Analysis, the increasing adoption of industry 4.0 technologies along with the growing preference for personalized healthcare is driving the digital twins in healthcare market growth

Digital Twins in Healthcare Industry Overview

The global digital twins in healthcare market is anticipated to grow at a CAGR of 30.0% from 2024-2035, reaching USD 33 billion by 2035.

Digital twins refer to a digital replica of a real-world object, process, or service. These virtual systems use artificial intelligence (AI) and data analytics to run simulations based on the real-time data gathered using internet of things (IoT) devices and sensors, to accurately replicate the workflow of an original system. Thus, this digital clone can be used to predict the responses of the original system and further optimize its performance. Additionally, creating a digital twin of a product allows for real-time monitoring and analysis of its performance. This insight can be used to identify areas where efficiency can be enhanced and product quality improved, leading to more informed decision-making and better overall outcomes. It is worth mentioning that about 15% of organizations that implement IoT in their projects have already started using digital twin platforms, while over 60% of the firms are either planning or are already in the process of incorporating digital twin technologies in their existing workflows, in the near future.  In addition, it has been recently reported that 66% of healthcare executives expect an increase in investment in digital twin technologies over the next three years.

Browse 120+ figures and 150+ market data tables spread across 200+ pages and detailed Table of Content on “Digital Twins in Healthcare Market, Till 2035 by Therapeutic Area, Type of Digital Twin, Area of Application, End Users and Key Geographical Regions” here: https://www.rootsanalysis.com/reports/digital-twins-in-healthcare-market.html

Market Drivers

Several factors are propelling the growth of digital twins in healthcare market. One of the key factors driving the future of digital twin market is the growing preference for personalized healthcare wherein treatment is prescribed based on unique genetic makeup of the patient. Further, the ability of digital twins to provide real virtual simulations along with real-time feedback are expected to drive the market growth for such technologies. Additionally, owing to the growing need for predictive analytics in healthcare, the demand for such technologies is expected to witness a significant increase in the coming years.

Market Restraints

hile the digital twins in healthcare market is experiencing substantial growth, it also faces certain challenges which are hindering its growth. One of the primary restraints is the stringent regulatory requirements and guidelines imposed by several governing bodies. The safety and efficacy standards on such technologies are often challenging to meet as they require rigorous data privacy capabilities. Additionally, the high cost involved with the implementation of digital twin technologies limits their affordability in the healthcare domain, especially among smalls-size companies and new entrants, thereby creating a hindrance in the overall success of the digital twins in healthcare market.

Growth Factors

Despite the challenges, several growth factors continue to drive the digital twin market forward. Stakeholders engaged in this domain are incorporating the use of digital twins in order to streamline workflows, improve patient flow and lead to better operational efficiency. Additionally, several large players are strategically investing in acquiring small digital twin companies in order to strengthen their current portfolio. Owing to the aforementioned factors, it can be anticipated that the global digital twins in healthcare market will flourish remarkably in the foreseen future.

Digital Twins in Healthcare Market Segments

Based on therapeutic area, the market is segmented into cardiovascular disorders, metabolic disorders, orthopedic disorders, and other disorders.

  • Digital twins developed for the treatment of cardiovascular disorders led the digital twins in healthcare market, capturing the largest revenue share of 31.2% in 2024.
  • In addition, digital twins developed for the treatment of cardiovascular disorders are anticipated to show the highest growth rate of more than 30.7% during 2024-2035.

Based on the type of digital twin, the market is segmented into process twins, system twins, whole body twins and body part twins.

  • The process digital twins led the digital twins in healthcare market, capturing the largest revenue share of 31.8% in 2024.
  • The body part twins are anticipated to show the highest growth rate of 31.2% during 2024-2035.

Based on area of application, the market is segmented into asset / process management, personalized treatment, surgical planning, diagnosis and other applications.

  • Digital twins offering asset / process management applications led the digital twins in healthcare market, capturing the largest revenue share of over 30.5% in 2024.
  • Digital twins offering personalized treatment are anticipated to show the highest growth rate of more than 31.1% during 2024-2035.

Based on end users, the market is segmented into pharmaceutical companies, medical device manufacturers, healthcare providers, patients, and other end users.

  • Pharmaceutical companies led the digital twins in healthcare market, capturing the largest revenue share of 33.8% in 2024.
  • The patient’s segment is anticipated to show the highest growth rate of over 32.0% during 2024-2035.

Based on the regional insights, the market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and Rest of the World.

  • North America dominated the digital twins in healthcare market and accounted for the largest revenue share of more than 30.5% in 2024.
  • In Asia, the digital twins in healthcare market is anticipated to demonstrate lucrative growth rate of over 30.4% during the forecast period, 2024-2035.

Key Companies Profiled

The Digital Twins in Healthcare Market report also includes profiles of key players (listed below) that offer digital twin technologies:

  • BigBear.ai
  • Certara 
  • Dassault Systèmes
  • DEO
  • Mesh Bio
  • NavvTrack 
  • OnScale
  • Phesi
  • PrediSurge
  • SingHealth
  • Twin Health
  • Unlearn.ai
  • Verto
  • VictoryXR
  • Virtonomy

You Can Download Free Sample PDF Copy Of This Report At:
https://www.rootsanalysis.com/reports/digital-twins-in-healthcare-market/request-sample.html

About Roots Analysis

Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

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