The Europe Digital Twins in Healthcare Market would witness market growth of 51.1% CAGR during the forecast period (2023-2030).
Digital twins produce massive volumes of data, which may be instantly processed to reveal information on patient health, resource use, and operational effectiveness. For instance, the digital twins of a hospital can gather and analyse real-time data from various sources, such as electronic health records, medical devices, and IoT sensors, to uncover operational inefficiencies, anticipate patient outcomes, and detect probable equipment breakdowns. Healthcare professionals can use real-time data analytics to make wise treatment strategies, resource allocation, and patient care decisions. Data analytics forms the basis of the full digital twins technology.
Once established, analytics and digital twins will offer more precise diagnostics and optimal or predictive operations. Digital twins technology in healthcare has been made possible by these developments and is anticipated to have potential in the future. Over the course of the assessment period, it is predicted that the need for personalized medicine and treatment plans will increase, contributing to a rise in the market share.
The market's growth is being driven by an increase in Internet of Things (IoT) devices, including wearables and medical sensors, which are expected to continue dominating the market throughout the forecast period. Additionally, the market is expected to grow due to developments in medical imaging technology, such as computed tomography (CT) and magnetic resonance imaging (MRI), that can represent people in incredibly detailed ways for digital twin simulations. Additionally, the market is driven by the growing demand for remote healthcare and the provision of individualized care.
Digital twin programs are being developed in many nations, including the UK. Instead of a single, enormous digital twin of a country, national digital twins would probably be federated systems—a group of interconnected digital twins created by several organizations. The National Digital Twin Programme (NDTP) was established in the UK in 2018 with the goal of enhancing the country's digital twin capabilities. Digital twin development has been aided by improvements in the healthcare sector in the technologies that enable digital twins, like 5G, artificial intelligence, virtual reality, and distributed ledger technology. The expansion of the regional market is predicted to be aided by all these activities and investments in digital twin technologies.
The Germany market dominated the Europe Digital Twins in Healthcare Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,885.1 million by 2030. The UK market is estimated to grow at a CAGR of 49.9% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 52.2% during (2023 - 2030).
Based on Application, the market is segmented into Healthcare Workflow Optimization & Asset Management, Personalized Medicine, Drug Discovery & Development, Medical Device Design & Testing, Surgical Planning & Medical Education, and Others. Based on Component, the market is segmented into Software, and Services. Based on End User, the market is segmented into Providers, Pharma & Biopharma Companies, Research & Academia, Medical Device Companies, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Digital Twins in Healthcare Market is Projected to reach USD 29.3 Billion by 2030, at a CAGR of 51.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens Healthineers AG (Siemens AG), Dassault Systemes SE, Microsoft Corporation, Koninklijke Philips N.V., IBM Corporation, NVIDIA Corporation, GE HealthCare Technologies, Inc., Oracle Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), and SAP SE.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Healthcare Workflow Optimization & Asset Management
- Personalized Medicine
- Drug Discovery & Development
- Medical Device Design & Testing
- Surgical Planning & Medical Education
- Others
By Component
By End User
- Providers
- Pharma & Biopharma Companies
- Research & Academia
- Medical Device Companies
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Siemens Healthineers AG (Siemens AG)
- Dassault Systemes SE
- Microsoft Corporation
- Koninklijke Philips N.V.
- IBM Corporation
- NVIDIA Corporation
- GE HealthCare Technologies, Inc.
- Oracle Corporation
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- SAP SE
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Digital Twins in Healthcare Market, by Application
1.4.2 Europe Digital Twins in Healthcare Market, by Component
1.4.3 Europe Digital Twins in Healthcare Market, by End User
1.4.4 Europe Digital Twins in Healthcare Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Top Winning Strategies
4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2020, May – 2023, Jun) Leading Players
4.4 Porter’s Five Force Analysis
Chapter 5. Europe Digital Twins in Healthcare Market by Application
5.1 Europe Healthcare Workflow Optimization & Asset Management Market by Country
5.2 Europe Personalized Medicine Market by Country
5.3 Europe Drug Discovery & Development Market by Country
5.4 Europe Medical Device Design & Testing Market by Country
5.5 Europe Surgical Planning & Medical Education Market by Country
5.6 Europe Others Market by Country
Chapter 6. Europe Digital Twins in Healthcare Market by Component
6.1 Europe Software Market by Country
6.2 Europe Services Market by Country
Chapter 7. Europe Digital Twins in Healthcare Market by End User
7.1 Europe Providers Market by Country
7.2 Europe Pharma & Biopharma Companies Market by Country
7.3 Europe Research & Academia Market by Country
7.4 Europe Medical Device Companies Market by Country
7.5 Europe Others Market by Country
Chapter 8. Europe Digital Twins in Healthcare Market by Country
8.1 Germany Digital Twins in Healthcare Market
8.1.1 Germany Digital Twins in Healthcare Market by Application
8.1.2 Germany Digital Twins in Healthcare Market by Component
8.1.3 Germany Digital Twins in Healthcare Market by End User
8.2 UK Digital Twins in Healthcare Market
8.2.1 UK Digital Twins in Healthcare Market by Application
8.2.2 UK Digital Twins in Healthcare Market by Component
8.2.3 UK Digital Twins in Healthcare Market by End User
8.3 France Digital Twins in Healthcare Market
8.3.1 France Digital Twins in Healthcare Market by Application
8.3.2 France Digital Twins in Healthcare Market by Component
8.3.3 France Digital Twins in Healthcare Market by End User
8.4 Russia Digital Twins in Healthcare Market
8.4.1 Russia Digital Twins in Healthcare Market by Application
8.4.2 Russia Digital Twins in Healthcare Market by Component
8.4.3 Russia Digital Twins in Healthcare Market by End User
8.5 Spain Digital Twins in Healthcare Market
8.5.1 Spain Digital Twins in Healthcare Market by Application
8.5.2 Spain Digital Twins in Healthcare Market by Component
8.5.3 Spain Digital Twins in Healthcare Market by End User
8.6 Italy Digital Twins in Healthcare Market
8.6.1 Italy Digital Twins in Healthcare Market by Application
8.6.2 Italy Digital Twins in Healthcare Market by Component
8.6.3 Italy Digital Twins in Healthcare Market by End User
8.7 Rest of Europe Digital Twins in Healthcare Market
8.7.1 Rest of Europe Digital Twins in Healthcare Market by Application
8.7.2 Rest of Europe Digital Twins in Healthcare Market by Component
8.7.3 Rest of Europe Digital Twins in Healthcare Market by End User
Chapter 9. Company Profiles
9.1 Microsoft Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Partnerships, Collaborations, and Agreements:
9.1.5.2 Product Launches and Product Expansions:
9.1.6 SWOT Analysis
9.2 Siemens Healthineers AG (Siemens AG)
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments:
9.2.5.1 Partnerships, Collaborations, and Agreements:
9.2.5.2 Acquisition and Mergers:
9.2.6 SWOT Analysis
9.3 NVIDIA Corporation
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expenses
9.3.5 Recent strategies and developments:
9.3.5.1 Partnerships, Collaborations, and Agreements:
9.3.5.2 Product Launches and Product Expansions:
9.3.6 SWOT Analysis
9.4 IBM Corporation
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Regional & Segmental Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments:
9.4.5.1 Partnerships, Collaborations, and Agreements:
9.4.6 SWOT Analysis
9.5 Oracle Corporation
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent strategies and developments:
9.5.5.1 Partnerships, Collaborations, and Agreements:
9.5.6 SWOT Analysis
9.6 Amazon Web Services, Inc. (Amazon.com, Inc.)
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental Analysis
9.6.4 Recent strategies and developments:
9.6.4.1 Partnerships, Collaborations, and Agreements:
9.6.5 SWOT Analysis
9.7 SAP SE
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Research & Development Expense
9.7.5 Recent strategies and developments:
9.7.5.1 Partnerships, Collaborations, and Agreements:
9.7.6 SWOT Analysis
9.8 Dassault Systemes SE
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Product Category and Regional Analysis
9.8.4 Research & Development Expense
9.8.5 Recent strategies and developments:
9.8.5.1 Partnerships, Collaborations, and Agreements:
9.8.6 SWOT Analysis
9.9 Koninklijke Philips N.V.
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Segmental and Regional Analysis
9.9.4 Research & Development Expense
9.9.5 Recent strategies and developments:
9.9.5.1 Partnerships, Collaborations, and Agreements:
9.9.6 SWOT Analysis
9.10. GE HealthCare Technologies, Inc.
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental and Regional Analysis
9.10.4 Research & Development Expenses
9.10.5 Recent strategies and developments:
9.10.5.1 Product Launches and Product Expansions:
9.10.6 SWOT Analysis
Chapter 10. Winning Imperatives for Digital Twins in Healthcare Market in Europe
TABLE 1 Europe Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 2 Europe Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Digital Twins in Healthcare Market
TABLE 4 Product Launches And Product Expansions– Digital Twins in Healthcare Market
TABLE 5 Acquisition and Mergers– Digital Twins in Healthcare Market
TABLE 6 Europe Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 7 Europe Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 8 Europe Healthcare Workflow Optimization & Asset Management Market by Country, 2019 - 2022, USD Million
TABLE 9 Europe Healthcare Workflow Optimization & Asset Management Market by Country, 2023 - 2030, USD Million
TABLE 10 Europe Personalized Medicine Market by Country, 2019 - 2022, USD Million
TABLE 11 Europe Personalized Medicine Market by Country, 2023 - 2030, USD Million
TABLE 12 Europe Drug Discovery & Development Market by Country, 2019 - 2022, USD Million
TABLE 13 Europe Drug Discovery & Development Market by Country, 2023 - 2030, USD Million
TABLE 14 Europe Medical Device Design & Testing Market by Country, 2019 - 2022, USD Million
TABLE 15 Europe Medical Device Design & Testing Market by Country, 2023 - 2030, USD Million
TABLE 16 Europe Surgical Planning & Medical Education Market by Country, 2019 - 2022, USD Million
TABLE 17 Europe Surgical Planning & Medical Education Market by Country, 2023 - 2030, USD Million
TABLE 18 Europe Others Market by Country, 2019 - 2022, USD Million
TABLE 19 Europe Others Market by Country, 2023 - 2030, USD Million
TABLE 20 Europe Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 21 Europe Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 22 Europe Software Market by Country, 2019 - 2022, USD Million
TABLE 23 Europe Software Market by Country, 2023 - 2030, USD Million
TABLE 24 Europe Services Market by Country, 2019 - 2022, USD Million
TABLE 25 Europe Services Market by Country, 2023 - 2030, USD Million
TABLE 26 Europe Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 27 Europe Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 28 Europe Providers Market by Country, 2019 - 2022, USD Million
TABLE 29 Europe Providers Market by Country, 2023 - 2030, USD Million
TABLE 30 Europe Pharma & Biopharma Companies Market by Country, 2019 - 2022, USD Million
TABLE 31 Europe Pharma & Biopharma Companies Market by Country, 2023 - 2030, USD Million
TABLE 32 Europe Research & Academia Market by Country, 2019 - 2022, USD Million
TABLE 33 Europe Research & Academia Market by Country, 2023 - 2030, USD Million
TABLE 34 Europe Medical Device Companies Market by Country, 2019 - 2022, USD Million
TABLE 35 Europe Medical Device Companies Market by Country, 2023 - 2030, USD Million
TABLE 36 Europe Others Market by Country, 2019 - 2022, USD Million
TABLE 37 Europe Others Market by Country, 2023 - 2030, USD Million
TABLE 38 Europe Digital Twins in Healthcare Market by Country, 2019 - 2022, USD Million
TABLE 39 Europe Digital Twins in Healthcare Market by Country, 2023 - 2030, USD Million
TABLE 40 Germany Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 41 Germany Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 42 Germany Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 43 Germany Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 44 Germany Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 45 Germany Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 46 Germany Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 47 Germany Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 48 UK Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 49 UK Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 50 UK Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 51 UK Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 52 UK Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 53 UK Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 54 UK Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 55 UK Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 56 France Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 57 France Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 58 France Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 59 France Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 60 France Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 61 France Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 62 France Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 63 France Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 64 Russia Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 65 Russia Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 66 Russia Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 67 Russia Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 68 Russia Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 69 Russia Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 70 Russia Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 71 Russia Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 72 Spain Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 73 Spain Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 74 Spain Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 75 Spain Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 76 Spain Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 77 Spain Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 78 Spain Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 79 Spain Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 80 Italy Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 81 Italy Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 82 Italy Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 83 Italy Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 84 Italy Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 85 Italy Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 86 Italy Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 87 Italy Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 88 Rest of Europe Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 89 Rest of Europe Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 90 Rest of Europe Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 91 Rest of Europe Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 92 Rest of Europe Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 93 Rest of Europe Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 94 Rest of Europe Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 95 Rest of Europe Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 96 key information – Microsoft Corporation
TABLE 97 Key Information – Siemens Healthineers AG
TABLE 98 Key Information – NVIDIA Corporation
TABLE 99 Key information – IBM Corporation
TABLE 100 Key Information – Oracle Corporation
TABLE 101 Key Information – Amazon Web Services, Inc.
TABLE 102 Key Information – SAP SE
TABLE 103 Key Information – Dassault Systemes SE
TABLE 104 Key Information – Koninklijke Philips N.V.
TABLE 105 Key Information – GE HealthCare Technologies, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 Europe Digital Twins in Healthcare Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Digital Twins in Healthcare Market
FIG 4 KBV Cardinal Matrix
FIG 5 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 6 Key Strategic Move: (Partnerships, Collaborations & Agreements : 2020, May – 2023, Jun) Leading Players
FIG 7 Porter’s Five Force Analysis: Digital Twins in Healthcare Market
FIG 8 Europe Digital Twins in Healthcare Market share by Application, 2022
FIG 9 Europe Digital Twins in Healthcare Market share by Application, 2030
FIG 10 Europe Digital Twins in Healthcare Market by Application, 2019 - 2030, USD Million
FIG 11 Europe Digital Twins in Healthcare Market share by Component, 2022
FIG 12 Europe Digital Twins in Healthcare Market share by Component, 2030
FIG 13 Europe Digital Twins in Healthcare Market by Component, 2019 - 2030, USD Million
FIG 14 Europe Digital Twins in Healthcare Market share by End User, 2022
FIG 15 Europe Digital Twins in Healthcare Market share by End User, 2030
FIG 16 Europe Digital Twins in Healthcare Market by End User, 2019 - 2030, USD Million
FIG 17 Europe Digital Twins in Healthcare Market share by Country, 2022
FIG 18 Europe Digital Twins in Healthcare Market share by Country, 2030
FIG 19 Europe Digital Twins in Healthcare Market by Country, 2019 - 2030, USD Million
FIG 20 Recent strategies and developments: Microsoft Corporation
FIG 21 SWOT Analysis: Microsoft Corporation
FIG 22 Recent strategies and developments: Siemens Healthineers AG
FIG 23 Swot analysis: Siemens AG
FIG 24 Recent strategies and developments: NVIDIA Corporation
FIG 25 SWOT Analysis: NVIDIA Corporation
FIG 26 Swot Analysis: IBM Corporation
FIG 27 SWOT analysis: Oracle Corporation
FIG 28 SWOT analysis: Amazon.com, Inc.
FIG 29 SWOT Analysis: SAP SE
FIG 30 SWOT Analysis: Dassault Systemes SE
FIG 31 SWOT Analysis: Koninklijke Philips N.V.
FIG 32 SWOT Analysis: GE HealthCare Technologies, Inc.