The global healthcare digital twin market size reached USD 572.4 Million in 2022 and is expected to register a revenue CAGR of 24.9% during the forecast period, according to latest analysis by Emergen Research. Rising demand for medical records is a key factor driving the market revenue growth. The healthcare business has gone through a massive digital revolution as a result of federal attempts to remove paper-based clinical procedures. Providers pushed swiftly to finish Electronic Health Record (EHR) deployments and embrace a technology critical to recording clinical data, to integrate health Information Technology (IT) standards within EHR systems to foster interoperability. One of the fundamental aspects of EHR is the capacity of authorized doctors to produce and preserve health information in a digital format that can be shared with other physicians across numerous healthcare organizations.
Some of the key factors driving the growth of the global Healthcare Digital Twin market include expanding R&D efforts to develop novel Healthcare Digital Twin products for a variety of applications and rising demand for mercury control technology for industrial air purification. The most recent data on the COVID-19 pandemic market condition is provided in the research. The investigation indicates that COVID-19 plays a vital role in the market's dynamically altered environment. The study carefully investigates how the pandemic has altered market dynamics and trends while also precisely analysing how the crisis has impacted the market as a whole.
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Effect of COVID-19 on the global market for Healthcare Digital Twin
The COVID-19 pandemic had a significant negative influence on the market for Healthcare Digital Twin in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of Healthcare Digital Twin were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of Healthcare Digital Twin in 2020. Additionally, demand for Healthcare Digital Twin decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.
Healthcare Digital Twin market : Competitive Landscape
The prominent players operating in the Healthcare Digital Twin market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Healthcare Digital Twin market .
Some of the prominent players operating in the market are:
Atos SE, Dassault Systèmes, Koninklijke Philips N.V., Microsoft Corporation, PrediSurge, Verto Health, Faststream Technologies, Siemens Healthcare GmbH, QiO Technologies Ltd., and ANSYS Inc
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The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
Key questions answered in the report:
What will be the development pace of Healthcare Digital Twin market ?
What are the key factors driving the Global Healthcare Digital Twin market ?
Who are the key manufacturers in the market space?
What are the openings, hazards, and outline of the market?
What is sales, revenue, and price analysis of top manufacturers of Healthcare Digital Twin market ?
Who are the distributors, traders, and dealers of Healthcare Digital Twin market ?
What are the Healthcare Digital Twin market opportunities and threats faced by the vendors in the Global Healthcare Digital Twin industries?
What are deals, incomes, and value examinations by types and utilizations of the market?
What are deals, income, and value examinations by areas of enterprises?
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Segments Covered in this report are:
Type Outlook (Revenue, USD Million; 2019-2032)
- Process & Systems
- Product
Application Outlook (Revenue, USD Million; 2019-2032)
- Asset and Process Management
- Personalized Medicine
- Drug Discovery
- Others
End-Use Outlook (Revenue, USD Million; 2019-2032)
- Clinical Research Organizations (CROs)
- Hospitals and Clinics
- Research & Diagnostic Laboratories
- Others
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Regional Bifurcation of the Healthcare Digital Twin market Includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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