Healthcare Digital Twins Market To Hit USD 31.2 Billion By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Healthcare digital twins industry is projected to witness a CAGR of 42.6% during the period 2024-2032. This growth can be attributed to increasing demand for personalized medicine and predictive healthcare.

Selbyville, Delaware, Jan. 07, 2025 (GLOBE NEWSWIRE) --

Healthcare Digital Twins market size was valued at USD 1.3 billion in 2023 and is projected to expand at 42.6% CAGR from 2024 to 2032. This growth is largely fueled by the increasing demand for personalized medicine and the integration of IoT and real-time data analytics within healthcare systems.

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The shift towards personalized medicine is a major driver behind the adoption of digital twin technology in healthcare. Digital twins enable the creation of precise, patient-specific simulations that allow for tailored treatment plans. By replicating a patient's biological systems digitally, healthcare providers can predict how they might respond to different treatments, helping to optimize medical care and outcomes for individuals.

The healthcare digital twins market is divided into software and services. In 2023, the software segment held the largest share of the market, generating USD 778.7 million. Digital twin software aid enables healthcare professionals and researchers to create and interact with detailed patient models in real time. These software solutions support a variety of applications, including predictive analytics, personalized treatment plans, and surgical preparations. By utilizing advanced data analytics, artificial intelligence (AI), and machine learning, digital twin software helps simulate patient-specific scenarios, offering accurate predictions on treatment efficacy and disease progression.

In terms of application, the healthcare digital twins market is segmented into areas like personalized medicine, drug discovery, surgical planning, and medical device design and testing. Among these, the personalized medicine segment is expected to grow significantly, potentially reaching USD 10.2 billion by 2032. Digital twin technology facilitates a detailed virtual model of a patient's physiological and genetic data, allowing healthcare providers to simulate treatment responses and predict outcomes before initiating real-world interventions.

This is particularly valuable for managing chronic conditions such as cancer, diabetes, and cardiovascular diseases, where personalized treatment plans are crucial to improving effectiveness and patient outcomes. With advancements in genomics, AI, and big data, digital twins can integrate diverse data sources to build more comprehensive and accurate models, further enhancing personalized healthcare.

In North America, the U.S. holds the largest share of the healthcare digital twins market, with a revenue of USD 443.7 million in 2023. The U.S. leads in healthcare technology innovation, with substantial investments in AI and machine learning, which drive the development of advanced digital twin models. These technologies enable more effective personalized treatments and improved patient outcomes.

Additionally, support from regulatory bodies and government initiatives promotes the widespread adoption of digital twin solutions, encouraging healthcare providers to invest in these technologies for better drug development and patient management.

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Major players in healthcare digital twins market include Ansys, Dassault Systems (3DS System), Faststream Technologies, Microsoft, Oracle, Philips Healthcare, Predictiv care, PrediSurge, Q Bio, Siemens Healthineers, ThoughWire, Twin Health, Unlearn AI, Verto Healthcare, and Virtonomy among others.

Partial Table of Contents (ToC) of the report:

Chapter 1 Methodology & Scope

1.1 Market scope & definitions

1.2 Research design

1.2.1 Research approach

1.2.2 Data collection methods

1.3 Base estimates & calculations

1.3.1 Base year calculation

1.3.2 Key trends for market estimation

1.4 Forecast model

1.5 Primary research and validation

1.5.1 Primary sources

1.5.2 Data mining sources

Chapter 2 Executive Summary

2.1 Industry 3600 synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis

3.2 Industry impact forces

3.2.1 Growth drivers

3.2.1.1 Increasing demand for personalized medicine and predictive healthcare

3.2.1.2 Integration of IoT and real-time data analytics

3.2.1.3 Advancements in technology

3.2.1.4 Expansion of telehealth and remote monitoring

3.2.2 Industry pitfalls & challenges

3.2.2.1 Security concerns and investment challenges

3.3 Growth potential analysis

3.4 Regulatory landscape

3.5 Technological landscape

3.6 Gap analysis

3.7 Future market trends

3.8 Start-up scenario

3.9 Porter's analysis

3.10 PESTEL analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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