HEALTHCARE DIGITAL TWINS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Healthcare Digital Twins Market, By Component (Software and Services), By Application (Personalized medicine, Healthcare workflow optimization & asset management, Medical device design and testing, Drug discovery & development, Surgical planning and medical education, and Others), By End User (Providers, biopharmaceutical companies, Medical device companies and Academic & Research Institutes), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

In May 2024, Ontrak Inc., a leading healthcare company leveraging AI and advanced technology, launched its Mental Health Digital Twin (MHDT) technology. This innovative solution combines human empathy with data-driven insights to provide personalized and efficient mental health support.
In February 2024, Unlearn, an AI-focused firm, secured US$ 50 million in a Series C funding round led by Altimeter Capital. The funds will support the company's efforts to advance digital twin technology, aiming to streamline clinical research and reduce trial-and-error in healthcare.
In December 2023, Twin Health, a digital metabolic care company, raised US$ 50 million in funding, following its US$ 140 million Series C funding in 2021. The new funds will enhance its Whole-Body Twin Technology, which focuses on preventing and reversing metabolic diseases.
In July 2022, PTC, a computer software company, and Schaeffler, a technology company, announced a strategic alliance to create an integrated, end-to-end IT landscape. Building on their 20-year relationship, which began with Schaeffler adopting PTC's CAD and PLM products, this partnership aims to enhance PTC’s market-specific solutions using Schaeffler's expertise. The collaboration will also support Schaeffler’s digital twin initiatives, enabling advanced 3D model visualization for projects such as augmented reality. The partnership reinforces both companies' commitment to innovation in the automotive and industrial sectors.