Lucintel Forecasts Digital Twin in the Global Healthcare Market to Reach $2,036.1 Million by 2028

iCrowd Newswire
19 Sep 2023, 00:18 GMT+10

According to the recent study the digital twin in the global healthcare market is projected to reach an estimated $2,036.1 million by 2028 from $623.6 million in 2023, at a CAGR of 26.7% from 2023 to 2028. Growth in this market is primarily driven by the expanding use of this technology for creative and efficient operations, growing need for real-time data analytics to take informed decisions about patient care and treatment options, and increasing use of telemedicine and remote patient monitoring services across the globe.

A more than 150 – page report is developed to understand trends, opportunities and forecast in digital twin in the global healthcare market by component (software and services), application (drug discovery & development, personalized medicine, surgical planning and medical education, medical device design and testing, healthcare workflow optimization & asset management, and others), end use industry (pharma & bio-pharma companies, research & academia, healthcare providers, and others), and region.

"Personalized medicine market is expected to remain the largest segment during the forecast period."

Based on application, the digital twin in the global healthcare market is segmented into drug discovery & development, personalized medicine, surgical planning and medical education, medical device design and testing, healthcare workflow optimization & asset management, and others. Lucintel forecasts that the personalized medicine market is expected to remain the largest segment over the forecast period as they ensure enhanced patient outcomes, reduced side effects, and improved therapeutic efficacy.

"Within the digital twin in the global healthcare market, the healthcare provider segment is expected to remain the largest end use industry"

Based on end use industry the healthcare provider segment is expected to witness the highest growth over the forecast period due to enhanced hospital diagnostic capabilities, which ensure accurate disease diagnosis, improved and timely medication, and data-driven decisions.

"North America will dominate the digital twin in the global healthcare market in near future"

North America will remain the largest region due to the existence of major market players, the presence of advanced digital infrastructure, and supportive government investment for adoption digital twin in the region.

Major players of digital twin in the global healthcare market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Siemens Healthineers, DassaultSystèmes, Microsoft, Koninklijke Philips, Faststream Technologies, Twin Health, and IBM are among the major digital twin in the global healthcare providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact: Roy Almaguer Lucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. 972.636.5056

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