Digital twin technology is also becoming a key trend in healthcare. According to a recent report by Precedence Research, the global digital twins market in healthcare is expected to reach USD 902.63 million by 2024. The value is projected to grow to USD 9,046.01 million by 2034, corresponding to a compound annual average growth rate (CAGR) of 25.92%.

In 2024, North America was the dominant market, accounting for 46% of total sales. The United States played a major role, thanks to its high adoption rate of advanced technologies and the presence of key players such as Dassault Systèmes, Siemens Healthineers, Philips Healthcare, Microsoft, IBM Corporation, and Oracle Corporation. However, forecasts show that the Asia-Pacific region will experience the fastest growth in the coming years. This will be driven by the rapid development of technology in China, which is forecast to grow at an average annual rate of 27.06% between 2024 and 2034.

Engagement in services and personalised medicine

In terms of market structure, the software segment accounted for the largest share in 2024 – a full 79%. However, the authors of the article expect the services segment to grow the fastest as demand for implementation, maintenance and integration of digital twins continues to increase. In terms of applications, personalised medicine held the largest market share (25%). This is a field built on the use of individual patient data for more accurate diagnosis, prediction of disease progression, and optimization of treatment. On the other hand, the demand for medical device design and testing will develop rapidly. This is where digital twins make it possible to simulate real-world conditions and significantly reduce the costs associated with product development.

Looking at end users, healthcare providers held the largest share in 2024, accounting for 37% of the market. However, the use of digital twins is expected to grow fastest in the healthcare sector.

Key companies shaping the current and future market development include:

  • Dassault Systèmes
  • Siemens Healthineers
  • Philips Healthcare
  • Microsoft
  • IBM Corporation
  • Oracle Corporation
  • Unlearn.AI
  • Twin Health
  • ImmersiveTouch

Digital twins are changing the way healthcare is delivered, how treatments are developed and how healthcare facilities are optimised. Given the explosive growth of this market and its key benefits, their importance can be expected to grow even more significantly in the coming years.

Source : https://www.precedenceresearch.com/healthcare-digital-twins-market