Overview

Medical Simulation Market Introduction

Medical Simulation Market is estimated to value over USD 6.27 billion by 2027 end and register a CAGR of over 13.9% during the forecast period 2020 to 2027.

The medical simulation market growth is encouraged by factors like enlightening the medical fraternity about the evolution of medical technology, associated benefits of medical simulation and a growing emphasis on patient safety and outcome such as illustrating normal and complex cases to professionals.

Nonetheless, high simulation set-up cost and other related costs are predicted to restrain the market growth of the market. Additionally, the limitation of a complete real situation impedes the growth of the medical simulation industry. On the contrary, profitable opportunities in emerging economies are predicted to create opportunities for market growth soon. Furthermore, according to an article published by NCBI, more than 200,000 patients die annually owing to medical errors, which makes it the third leading cause of death in the world. The invention of simulation in healthcare has significantly reduced the number of deaths related to unsafe care. These factors are expected to boost the market growth in the upcoming years.

Key market players include Cae, 3D Systems, Laerdal Medical, Gaumard Scientific Company, Kyoto Kagaku, Limbs & Things, Mentice, Simulab, Simulaids, Medaphor.

Medical Simulation Market Segmentation:

By Product & Service

• Anatomical Models
o Patient Simulators
o High-Fidelity Simulators
o Medium-Fidelity Simulators
o Low-Fidelity Simulators
o Task Trainers
o Interventional/Surgical Simulators
o Laparoscopic Surgical Simulators
o Gynecology Surgical Simulators
o Cardiac Surgical Simulators
o Arthroscopic Surgical Simulators
o Other Interventional/Surgical Simulators
o Endovascular Simulators
o Ultrasound Simulators
o Dental Simulators
o Eye Simulators
• Web-Based Simulation
• Medical Simulation Software
o Performance Recording Software
o Virtual Tutors
• Simulation Training Services
o Vendor-Based Training
o Educational Societies
o Custom Consulting & Training Services

By End User

• Academic Institutes
• Hospitals
• Military Organizations
• Other End Users

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

FutureWise Key Takeaways:

Growth Prospects
SWOT Analysis
Key Trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the global medical simulation market by product & service, by end-user and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
Evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and Middle East & Africa
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financial and core competencies

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