Global Medical Simulation Market is Estimated to Value Over USD 3.7 Billion by 2026 End

  • 13 Sep 2019

Global Medical Simulation Market is estimated to value over USD 3.7 billion by 2026 end and register a CAGR of over 14% during the forecast period 2019 to 2026.

 

Increasing demand for minimally invasive treatments, the benefits of simulation over traditional learning, and increasing focus on patient safety are the major factors driving the medical simulations market growth.

 

The Anatomical Models Segment is Expected to Witness Significant Growth Over the Forecast period

According to a study in the British Medical Journal conducted by patient safety researchers, medical errors in healthcare facilities and hospitals are reported to be the 3rd leading cause of deaths in the United States. Simulation provides an opportunity to develop expertise and sharpen skills for reliable and safe system performance. Situations that are highly risky in aviation and military operations require advanced skills for handling emergency situations. Therefore, simulated settings help health practitioners learn from their mistakes by avoiding harm to patients. Thus, the growing focus on patient safety is expected to drive the medical simulation market growth.

Furthermore, simulation-based medical learning and training can be valuable in clinical practice. These processes and systems can offer safe and controlled circumstances in which problem-based learning is encouraged. Such factors are anticipated to bolster the medical simulation market growth.

The academic institute's segment accounted for the largest medical simulation market share of the end-user segment. The large share of this segment can be attributed to the increasing awareness of patient safety, focus on minimizing medical errors, and the rising number of medical school enrollees.

North America led the market in 2017, with a medical simulation market share of over more than 39.0%, due to rise in a number of hospitals and medical training institutes, which are focusing on making efforts to reduce patient safety risk and standardizing their teaching practices.

 

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

 

Global Medical Simulation Market Segmentation:

By Product & Service 

  • Anatomical Models
    • Patient Simulators

> High-Fidelity Simulators

> Medium-Fidelity Simulators

> Low-Fidelity Simulators

o Task Trainers

o Interventional/Surgical Simulators

> Laparoscopic Surgical Simulators

> Gynaecology Surgical Simulators

> Cardiac Surgical Simulators

> Arthroscopic Surgical Simulators

> 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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