DUBLIN--(BUSINESS WIRE)--The "Healthcare Digital Twins Market by Type, Application, End User, and by Region - Global Forecast to 2022-2033" report has been added to ResearchAndMarkets.com's offering.
The healthcare digital twins market size is estimated to be USD 489.7 25 million in 2022 and is expected to witness a CAGR of 26.31% during the forecast period 2023-2033. Surge in usage of the technology in the healthcare sector and increasing use of medical records, mobile applications, sensors, and wearables in the healthcare sector are factors contributing to the market growth.
Furthermore, increase in research and development (R&D) efforts, growing public knowledge of the potential uses and benefits of digital twins, and active involvement from major global tech companies in the market is projected to accelerate the market growth. However, growing incidence of security breaches in healthcare facilities and the high costs associated with maintaining the technology's infrastructure is expected to hinder the growth.
Surge in usage of the technology in the healthcare sector is expected to propel the market growth. For instance, according to an article by AI Multiple from May 2022, 66% of healthcare professionals anticipate soaring investments in digital twins, adoption helps to enhance the performance of healthcare organizations, enable the development of new devices and medications, and facilitate personalization and customization of medicine. Based on an individual's genetic structure, behavior, and anatomy, personalized treatment offers a great deal of potential due to technology. For instance, Swedish researchers have been mapping mice RNA into multiple digital twin models with the objective of customizing arthritis diagnosis and care for people.
Segmentation
By Type
The market is categorized into product digital twin and process & digital twin. In 2022, the process & digital twin segment accounted for the highest revenue share due to the adoption of artificial intelligence, virtual reality, and mixed reality to optimize processes. Holograms, which enable the use of both virtual and real models for the doctors' work, are made possible by process and system digital twins. Data from each and every process is delivered to the holograms, which serve as representations of the complete system. The market for product digital twin is predicted to grow at a substantial CAGR over the projected period. It is projected that over the projection period, increasing demand for IoT sensors and electronic manufacturing devices is projected to propel the healthcare sector.
By Application
The market is categorized into personalized medicine, drug discovery, asset & process management, and others. In the global market, the asset & process management segment accounted for the largest revenue share in 2022 owing to increase in the use of this technology by hospitals and other healthcare facilities to determine whether assets require maintenance or repair. In order to make sure that the physical assets are being used to their full potential, the technology also makes it possible to establish digital records of the assets that can be accessed by facility members. It is expected that drug discovery would increase at a CAGR during the projected period. Pharmaceutical companies employ digital twins to enhance and streamline production methods and for drug discovery. The system offers real-time information on each process and enables firms to alter manufacturing stages to increase process efficiency. During the projected period, these reasons are anticipated to propel the segment.
By End User
The market is segmented into hospitals & clinics, research & diagnostic laboratories, clinical research organizations, and others. In 2022, the hospitals & clinics segment accounted for the largest revenue share owing to the fact that digital twins are used to optimize hospital staffing and identify bed shortages. Informed decisions can be made by the staff as a result, which improves resource usage effectiveness while reducing cost. For instance, IBM Process Mining programme, which creates a digital twin that can be used to model healthcare facilities' businesses and perform simulations to find potential problems. The clinical research organization segment is anticipated to grow at the quickest rate during the projected period due to the fact that t For instance, companies are using AI models trained on historical data to develop digital twins that can forecast the trial outcome for patients if they got the current level of treatment as compared to a placebo. his technique helps these firms to evaluate the efficiency and dosage of the pharmaceuticals on the twins before the actual trials have been completed.
Segmentation: Healthcare Digital Twins Market Report 2022 - 2033
Type (Revenue, USD Million), 2022 - 2033
- Product Digital Twin
- Process & Digital Twin
Application (Revenue, USD Million), 2022 - 2033
- Personalized Medicine
- Drug Discovery
- Asset & Process Management
- Others
End user (Revenue, USD Million), 2022 - 2033
- Hospitals & Clinics
- Research & Diagnostic Laboratories
- Clinical Research Organizations
- Others
By Region (Revenue, USD Million), 2022 - 2033
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Key Topics Covered:
1. Research Methodology
2. Introduction: Healthcare Digital Twins
3. Executive Summary
4. Market Dynamics
5. Market Environment Analysis
6. COVID-19 Impact Analysis: Healthcare Digital Twins Market
7. Market Analysis by Type
8. Market Analysis by Application
9. Market Analysis by End User
9. Regional Market Analysis
10. North America Healthcare Digital Twins Market
11. Europe Healthcare Digital Twins Market
12. Asia Pacific Healthcare Digital Twins Market
13. Latin America Healthcare Digital Twins Market
14. MEA Healthcare Digital Twins Market
15. Competitor Analysis
16. Company Profiles
17. Conclusion
18. Recommendations
Companies Mentioned
- Microsoft
- ThoughWire
- Philips Healthcare
- Unlearn.AI Inc.
- Dassault Systems (3DS System)
- QiO Technologies
- Atos
- Verto Healthcare
- Fasttream Technologies
- PrediSurge
- Twin Health.
For more information about this report visit https://www.researchandmarkets.com/r/osvcqi
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