Digital Twins in Healthcare Market worth $21.1 billion | MarketsandMarkets

Digital Twins in Healthcare Market in terms of revenue was estimated to be worth $1.6 billion in 2023 and is poised to reach $21.1 billion by 2028, growing at a CAGR of 67.0% from 2023 to 2028 according to a new report by MarketsandMarkets™. Rise in investments & funding in the digital twin market supporting the growing number of startups and increasing focus on cutting-edge real-time analytics are some of the key factors that offer opportunities to the market during the forecast period. However, the obsolete digital infrastructure and the reluctance towards the use of new technologies are challenging the market growth to some extent.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=74014375&utm_source=Openpr&utm_medium=Paid&utm_campaign=Referral

Browse in-depth TOC on "Digital Twins in Healthcare Market"

110 - Tables
40 - Figures
180 - Pages

The research and Academia segment is expected to register a substantial growth in the digital twins in healthcare market, by end user

The research and academia segment is expected to register a substantial growth in the digital twins in healthcare market, by end user. This growth can be attributed to their ability to drive technological advancements in the healthcare sector, collaborative research efforts within these institutions fostering knowledge sharing & enhance patient care outcomes, availability of extensive healthcare data & the expertise to analyze and model it give research institutions a competitive edge in leveraging digital twins effectively. Lastly, the inclination of academic institutions to explore emerging technologies positions them as early adopters and catalysts for growth in the digital twins in healthcare market.

APAC is to witness a considerable growth rate during the forecast period.

The Asia Pacific market is projected to grow at a considerable CAGR during the forecast period. Factors such as increasing medical tourism, growing investments expected to bring about the creation of new market participants, growing prevalence of various technologies such as IoT, machine learning, etc., and the rising geriatric population are anticipated to drive the development of digital twins for healthcare applications in the Asia Pacific region.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=74014375&utm_source=Openpr&utm_medium=Paid&utm_campaign=Referral

Digital Twins in Healthcare Market Dynamics:

Drivers:
1. Increasing investments in digital twin technology by public and private entities

Restraints:
1. Managing data quality and privacy issues and high implementation costs

Opportunities:
1. Increasing focus on cutting-edge real-time data analytics

Challenges:
1. Lack of technical expertise and data management issues

Key Market Players:

Siemens Healthineers AG (Germany), Dassault Systèmes (France), Microsoft (US), Koninklijke Philips N.V. (Netherlands), Faststream Technologies (US), Twin LTD (US), IBM (US), NVIDIA Corporation (US), GE Healthcare (US), NUREA (France), ANSYS, Inc. (US), Rescale, Inc. (US), Predictiv (US), Verto Health (Canada), PrediSurge (France), Qbio (US), Virtonomy GmbH (Germany), Unlearn AI (US), Atos SE (France), ThoughtWire (Canada), Amazon Web Services, Inc.(US), Oracle(US), PTC (US), SAP (Germany), Sim and Cure (France) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=74014375&utm_source=Openpr&utm_medium=Paid&utm_campaign=Referral

Recent Developments:

In April 2023, Oracle (US) collaborated with Deloitte (UK), This collaboration focuses on modernizing electronic health records, optimizing operations, and leveraging AI-driven insights to deliver a patient-centric, future-ready healthcare delivery system. By combining Deloitte's industry expertise with Oracle's technology portfolio, they aim to meet the evolving needs of the healthcare industry and improve operational efficiency.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.