Digital Twin Market Overview Read More:https://..

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Digital Twin Market Overview

Read More:https://www.rootsanalysis.com/....reports/digital-twin

The digital twin market in healthcare and pharmaceutical industry is estimated to be around USD 1 billion in 2022 and is growing at a healthy compounded annual growth rate (CAGR) of 30% during the forecast period.

Digital Twin Market Share by 2035

The research and development behind a new drug is reported to require, on an average, an investment of nearly USD 1 billion. At present, over 90% of the drug candidates fail across different stages of clinical trials, leading to significant financial losses for developers. In recent years, with the introduction of industry 4.0 technologies, such as augmented reality, big data, internet of things (IoT) and virtual reality, the digital twin technology has emerged as a promising approach to mitigate a number of the aforementioned healthcare related concerns.

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