Global Healthcare Digital Twin Market is slated to grow at a CAGR of 30-50% during the forecast period

BRUSSELS, Belgium, Dec. 15, 2021 (GLOBE NEWSWIRE) --

Summary: The Healthcare Digital Twin market growth is expected to be driven by rising demand for personalized therapies and trend of digitization.

Description: A digital twin is a virtual replica of a physical object or a process. Healthcare is rapidly embracing digital twin technology. The goal of this trend is to deliver data-driven personalised medicine as well as accelerate 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 increasing focus of healthcare organization on curbing cost, improve workflow and patient care.

The healthcare digital twin market is evolving and driven by start-ups/small size companies offering application specific solutions.

The healthcare digital twin market is at nascent stage and took upward momentum after COVID-19 pandemic. The market comprises various start-ups/small players offering solutions for specific applications. For instance, Sim&Cure is France-based start-up offering patient-based digital twin for treating aneurysms. Further, ophthalmology start-up Optimo Medical is a Switzerland-based digital solutions company offering digital twin solution for planning eye surgery for astigmatism. Some of the large and small players operating in the healthcare digital twin market include 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.

“Medical device manufacturers are increasingly adopting digital twins to model devices as well as patients to treat people with specific conditions. The journey of digital twins in healthcare has just begun and its future is nearly infinite,”- CEO, Whole Body Digital Twin Solution Provider.

Medi-Tech Insights’ latest report comprehensively analyses key areas such as investment trends in healthcare digital twin market.

Drawn by the huge promise to disrupt healthcare, many VCs/investors have backed companies in healthcare digital twin market. For instance, in October 2021, Twin Health, makers of the Whole-Body Digital Twin precision health technology, raised $140 million in Series C funding. At present, the digital twin solution is addressing diseases such as diabetes, hypertension, and some other metabolic diseases. Similarly, US-based Unlearn has developed DiGenesis, a machine-learning platform that generates control patient data for clinical studies. In April 2020, the company secured a $12 million Series A financing.

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