Healthcare Digital Twin Market - Global Industry Size, Demand, Growth, and Revenue Analysis 2030

Global Healthcare Digital Twin Market is growing at a rapid rate of 30-50% CAGR. The market growth will be driven by the increasing demand for customized treatments, venture capital investments and the growing trend of digitalization.

Digital twins are virtual representation of an object or process. The real-world data collected by sensors are fed into a a digital model. The digital model then provides the real-time information in a 3D visual format. The real-time information helps prevent poor decisions, take preventive measures and limit any possible future incidents. Healthcare is rapidly adopting the digital twin technique. The aim of this new trend is to provide personalized medical care based on data as well as speed up medical innovation. Global healthcare digital twin market is driven by huge infusion of funds by government as well as venture capital firms; growing cancer, genetic, and rare disorder research; rising healthcare digitization, growing demand for personalized/precision medicine; and growing focus of healthcare organization on curtailing burgeoning cost, improve workflow and patient care.

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Medi-Tech Insights' research on the market for digital twins in healthcare analyzes the market in relation to products (software and services) applications as well as the end-user, the location.

Based on our study and interviews with industry professionals, it's clear that process and asset management as well as personalized medical planning, surgical planning and discovery of drugs (including clinical trials) are the main applications of the digital twins today and the US is the most significant geographic market.

Process and asset management is among the most important applications of the market for healthcare digital twins and players are increasingly focused on providing digital twin services to their clients to optimize workflows and processes. Siemens, GE Healthcare, Atos, Verto Healthcare, and ThoughWire are a few of the major players that offer these solutions.

Case Study: The leading Irish hospital's radiology department utilized Siemens digital twins to improve workflow

Recently, Siemens Healthineers created digital twin model representations for the radiology department at Mater Private Hospital, one of the top hospitals in Ireland. With increasing demand for patient care growing complexity in clinical care as well as aging infrastructure and a insufficient space it was becoming increasingly difficult for the hospital to provide effective patient care. To improve and streamline the workflow, the hospital joined forces with Siemens. Based on the results of analysis and evaluation of data the digital replica of the department was established (baseline model). It was able to help the hospital improve the process and improve patient experience by decreasing wait times, effectively handling emergency service, optimizing utilization of medical and lab equipment, ensuring that devices are not down and staffing requirements. It helped hospital management control the entire infrastructure using an integrated platform - from patients to clinicians, to workflows and data.

Geographic Snapshot: Healthcare Digital Twin Market

Comprehensive regional analysis of the global market for digital twins in healthcare which covers U.S., Europe (Germany, Italy, France, Spain, UK, and Rest of Europe), Asia-Pacific (India, China, Japan, Australia, New Zealand, Singapore and Rest of Asia-Pacific) and Rest of the World (Latin America, Middle-East & Africa) suggests that U.S. is likely to remain dominant in the coming 10 years. The growing funding for the healthcare digital twins and favorable government policies that encourage the digital twin market and the use of innovative technologies are likely to boost the U.S. digital twin market for healthcare. market.

The market for digital twins in the healthcare sector is growing and is currently driven by small-sized companies and start-ups that offer application-specific solutions.

The market for digital twins in healthcare is still in its infancy and grew in popularity following the COVID-19's pandemic. The market is made up of a number of start-ups and small players that provide solutions specifically for certain applications. For example, Sim&Cure is France-based start-up offering a patient-based digital twin service to treat aneurysms. Additionally, the ophthalmology startup Optimo Medical is a Switzerland-based digital solutions firm that offers a digital twin technology to plan procedures for treating astigmatism in the eyes. Some of the big and smaller players in the market for healthcare digital twins are General Electric, Ansys, Atos, Dassault Systems (3DS Company), Microsoft, Philips Healthcare, Siemens, HP, Twin Health, Verto Health, Fasttream Technologies, ThoughtWire, Sim&Cure, and Optimo Medical among others.

Governments around the world are stepping up to encourage the use of digital twins in healthcare, with the 'DigiTwins initiative is an excellent illustration

"DigiTwins" is a European flagship project that has more than 200 partners across 32 countries that will be supported by 1 billion euros over the course of 10 years. It has the intention of establishing truly personalized healthcare and prevention on basis of the 'virtual person strategy. DigiTwins will create an evolution in healthcare by leveraging the most advanced sensors, omics, computing and communication technologies to allow the most personalized preventive medical treatment.

"Medical device makers are now using digital twins to create models of devices and patients to treat specific ailments. Digital twins' journey in healthcare has only begun, and its potential is almost endless" CEO of Whole Body Digital Twin Solution Company

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Medi-Tech Insights' research comprehensively analyzes key areas, such as the latest trends in investment in the digital twin market

Healthcare organizations, investors and regulators are increasingly recognizing the significance of digital twin technology in improving the quality of care for patients. Attracted by the promise to disrupt healthcare, numerous investors and VCs have invested in companies in the healthcare digital twin markets. In the month of October 2021 Twin Health, makers of the Whole Body Digital Twin precision health technology, raised $140 million through Series C funding. The digital twin solution is being used to treat diseases like hypertension, diabetes and other metabolic diseases. In addition, the Unlearn, a company based in the United States, Unlearn has created DiGenesis, an machine-learning platform that produces data on patients' health for clinical research. The company was founded in April, 2020. was able to secure an investment of $12 million in Series A financing. The funding will give motivation for the advancement and the use of digital twin technologies in healthcare.

Through their involvement in digital health technologies through time, Medi-Tech Insights understands the specifics and nuances of the healthcare digital twins and has helped many established companies, as well as start-ups, to increase their revenue by 10x.

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About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

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