The North America Digital Twins in Healthcare Market would witness market growth of 50.8% CAGR during the forecast period (2023-2030).
Digital twins are widely used in healthcare to improve and streamline processes. A digital twin can track the impact of medications, a patient's health, and other variables. In the healthcare industry, it is frequently used and receives real-time information through physical assets, infrastructure, or processes. It assists in gathering data on the person's many vital signs, health, and responses to therapies, medications, and environment. Furthermore, it replicates several hospital-related aspects, such as patient and staff movement and real-time location tracking of both people and objects. These components are boosting market expansion.
Through the use of healthcare digital twins, healthcare professionals can improve treatment plans, minimize the chance of unfavourable outcomes, and make better-informed decisions regarding patient care. Several healthcare organizations have started implementing digital twin technologies to advance patient outcomes and lower operating expenses. This is fuelling the industry dynamics.
The small & medium-sized enterprises (SMEs) that make up the majority of the medical devices industry in Canada are extremely diversified. In addition to manufacturing and regulating these devices, the main activities involve the research & development of diagnostic, medical, and therapeutic devices. The market is currently estimated to be worth USD$6.5 billion, and by 2026, it is anticipated to increase by 2.1% annually. A growing number of chronic diseases and an aging population drive up demand for medical devices. The market for medical devices in Mexico is significant for American exporters. In 2019, Mexico's import market for pharmaceuticals and medical equipment was USD 2.5 billion and USD 4.9 billion, respectively. With all of these considerations taken into account, it can be said that the market in the region will experience rapid expansion.
The US market dominated the North America 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 $8,165.6 million by 2030. The Canada market is exhibiting a CAGR of 54.2% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 52.9% 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 U.S., Mexico, Canada, and Rest of North America.
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
- US
- Canada
- Mexico
- Rest of North America
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 North America Digital Twins in Healthcare Market, by Application
1.4.2 North America Digital Twins in Healthcare Market, by Component
1.4.3 North America Digital Twins in Healthcare Market, by End User
1.4.4 North America 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. North America Digital Twins in Healthcare Market by Application
5.1 North America Healthcare Workflow Optimization & Asset Management Market by Country
5.2 North America Personalized Medicine Market by Country
5.3 North America Drug Discovery & Development Market by Country
5.4 North America Medical Device Design & Testing Market by Country
5.5 North America Surgical Planning & Medical Education Market by Country
5.6 North America Others Market by Country
Chapter 6. North America Digital Twins in Healthcare Market by Component
6.1 North America Software Market by Country
6.2 North America Services Market by Country
Chapter 7. North America Digital Twins in Healthcare Market by End User
7.1 North America Providers Market by Country
7.2 North America Pharma & Biopharma Companies Market by Country
7.3 North America Research & Academia Market by Country
7.4 North America Medical Device Companies Market by Country
7.5 North America Others Market by Country
Chapter 8. North America Digital Twins in Healthcare Market by Country
8.1 US Digital Twins in Healthcare Market
8.1.1 US Digital Twins in Healthcare Market by Application
8.1.2 US Digital Twins in Healthcare Market by Component
8.1.3 US Digital Twins in Healthcare Market by End User
8.2 Canada Digital Twins in Healthcare Market
8.2.1 Canada Digital Twins in Healthcare Market by Application
8.2.2 Canada Digital Twins in Healthcare Market by Component
8.2.3 Canada Digital Twins in Healthcare Market by End User
8.3 Mexico Digital Twins in Healthcare Market
8.3.1 Mexico Digital Twins in Healthcare Market by Application
8.3.2 Mexico Digital Twins in Healthcare Market by Component
8.3.3 Mexico Digital Twins in Healthcare Market by End User
8.4 Rest of North America Digital Twins in Healthcare Market
8.4.1 Rest of North America Digital Twins in Healthcare Market by Application
8.4.2 Rest of North America Digital Twins in Healthcare Market by Component
8.4.3 Rest of North America 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 North America
TABLE 1 North America Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 2 North America 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 North America Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 7 North America Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 8 North America Healthcare Workflow Optimization & Asset Management Market by Country, 2019 - 2022, USD Million
TABLE 9 North America Healthcare Workflow Optimization & Asset Management Market by Country, 2023 - 2030, USD Million
TABLE 10 North America Personalized Medicine Market by Country, 2019 - 2022, USD Million
TABLE 11 North America Personalized Medicine Market by Country, 2023 - 2030, USD Million
TABLE 12 North America Drug Discovery & Development Market by Country, 2019 - 2022, USD Million
TABLE 13 North America Drug Discovery & Development Market by Country, 2023 - 2030, USD Million
TABLE 14 North America Medical Device Design & Testing Market by Country, 2019 - 2022, USD Million
TABLE 15 North America Medical Device Design & Testing Market by Country, 2023 - 2030, USD Million
TABLE 16 North America Surgical Planning & Medical Education Market by Country, 2019 - 2022, USD Million
TABLE 17 North America Surgical Planning & Medical Education Market by Country, 2023 - 2030, USD Million
TABLE 18 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 19 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 20 North America Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 21 North America Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 22 North America Software Market by Country, 2019 - 2022, USD Million
TABLE 23 North America Software Market by Country, 2023 - 2030, USD Million
TABLE 24 North America Services Market by Country, 2019 - 2022, USD Million
TABLE 25 North America Services Market by Country, 2023 - 2030, USD Million
TABLE 26 North America Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 27 North America Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 28 North America Providers Market by Country, 2019 - 2022, USD Million
TABLE 29 North America Providers Market by Country, 2023 - 2030, USD Million
TABLE 30 North America Pharma & Biopharma Companies Market by Country, 2019 - 2022, USD Million
TABLE 31 North America Pharma & Biopharma Companies Market by Country, 2023 - 2030, USD Million
TABLE 32 North America Research & Academia Market by Country, 2019 - 2022, USD Million
TABLE 33 North America Research & Academia Market by Country, 2023 - 2030, USD Million
TABLE 34 North America Medical Device Companies Market by Country, 2019 - 2022, USD Million
TABLE 35 North America Medical Device Companies Market by Country, 2023 - 2030, USD Million
TABLE 36 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 37 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 38 North America Digital Twins in Healthcare Market by Country, 2019 - 2022, USD Million
TABLE 39 North America Digital Twins in Healthcare Market by Country, 2023 - 2030, USD Million
TABLE 40 US Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 41 US Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 42 US Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 43 US Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 44 US Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 45 US Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 46 US Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 47 US Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 48 Canada Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 49 Canada Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 50 Canada Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 51 Canada Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 52 Canada Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 53 Canada Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 54 Canada Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 55 Canada Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 56 Mexico Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 57 Mexico Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 58 Mexico Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 59 Mexico Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 60 Mexico Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 61 Mexico Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 62 Mexico Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 63 Mexico Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 64 Rest of North America Digital Twins in Healthcare Market, 2019 - 2022, USD Million
TABLE 65 Rest of North America Digital Twins in Healthcare Market, 2023 - 2030, USD Million
TABLE 66 Rest of North America Digital Twins in Healthcare Market by Application, 2019 - 2022, USD Million
TABLE 67 Rest of North America Digital Twins in Healthcare Market by Application, 2023 - 2030, USD Million
TABLE 68 Rest of North America Digital Twins in Healthcare Market by Component, 2019 - 2022, USD Million
TABLE 69 Rest of North America Digital Twins in Healthcare Market by Component, 2023 - 2030, USD Million
TABLE 70 Rest of North America Digital Twins in Healthcare Market by End User, 2019 - 2022, USD Million
TABLE 71 Rest of North America Digital Twins in Healthcare Market by End User, 2023 - 2030, USD Million
TABLE 72 key information – Microsoft Corporation
TABLE 73 Key Information – Siemens Healthineers AG
TABLE 74 Key Information – NVIDIA Corporation
TABLE 75 Key information – IBM Corporation
TABLE 76 Key Information – Oracle Corporation
TABLE 77 Key Information – Amazon Web Services, Inc.
TABLE 78 Key Information – SAP SE
TABLE 79 Key Information – Dassault Systemes SE
TABLE 80 Key Information – Koninklijke Philips N.V.
TABLE 81 Key Information – GE HealthCare Technologies, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America 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 North America Digital Twins in Healthcare Market share by Application, 2022
FIG 9 North America Digital Twins in Healthcare Market share by Application, 2030
FIG 10 North America Digital Twins in Healthcare Market by Application, 2019 - 2030, USD Million
FIG 11 North America Digital Twins in Healthcare Market share by Component, 2022
FIG 12 North America Digital Twins in Healthcare Market share by Component, 2030
FIG 13 North America Digital Twins in Healthcare Market by Component, 2019 - 2030, USD Million
FIG 14 North America Digital Twins in Healthcare Market share by End User, 2022
FIG 15 North America Digital Twins in Healthcare Market share by End User, 2030
FIG 16 North America Digital Twins in Healthcare Market by End User, 2019 - 2030, USD Million
FIG 17 North America Digital Twins in Healthcare Market share by Country, 2022
FIG 18 North America Digital Twins in Healthcare Market share by Country, 2030
FIG 19 North America 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.