Medical Simulation Market

Medical Simulation Market is valued at USD 1.84 Billion in 2021 and expected to reach USD 4.99 Billion by 2028 with the CAGR of 15.29% over the forecast period.

Increasing demand for minimally invasive surgeries and technological advancements in healthcare sector are driving the growth of Global Medical Simulation Market.

Scope of Global Medical Simulation Market Report–

Medical stimulation is the recent methodology for training healthcare professionals with the help of advanced educational technology. Simulation can be performed in the classroom, in situational environments or in a space specially made for simulation practice. The simulation may include stimulated human patients, educational documents with stimulated animations, emergency response and support virtual health functions with holographic simulation. It is used to train students, anatomy, physiology etc. during medical simulation, learners enter into a realistic medical setting where a high-fidelity patient manikin is being wirelessly functioned by educational and simulation technical staff. The patient simulation is mainly streamed live to other learners and recorded for playback purpose at the time of debriefing.

Global Medical Simulation Market is segmented on the basis of product & services, fidelity, end-user and region & country level. Based on product & services, global medical simulation market is classified as model-based simulation, web based simulation and simulation training services. Based upon fidelity, the market is classified into low-fidelity, medium fidelity and high fidelity. Based upon end-user, global medical simulation market is classified into academic institutions & research centers, hospitals & clinics and military organizations.

The regions covered in this medical simulation market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of medical simulation is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Global Medical Simulation Market Dynamics-

Continuous technological developments such as augmented reality & virtual reality, growing concern on patient safety and growing requirement of quality healthcare professionals are some of the major factors driving the growth of global medical simulation market. For instance; according to World Health Organization (WHO), it is estimated that in high income countries, as many as one in 10 patients is harmed while getting hospital care, with about 50% are considered preventable. And this medical error can be made much lower with the help of medical simulation learning to the under graduate and post graduate students for which the demand of market is growing in medical colleges and research centers. It has also been noted that according WHO, more than 138 million patients are harmed by doctor error which can be reduced if the doctors can be given more practical learning through medical simulation. Medical simulation is so simple that it can be learned from 3D Anatomy app, for which there is growing interest of such type of apps among medical students and professionals.

The current trend in medical simulation is virtual simulated patients, VR, AR training tools which offer learners with opportunity to train in different simulated environments helping the market to expand rapidly. Even if there are very few professional degrees, presence of healthcare simulation conferences such as INACSL, IMSH and SimGHOSTS enhances the prospect of growing demand of medical simulation in forecast period. However, simulation laboratories are rather costly, for example, a single high-fidelity simulator with monitoring system and other necessary equipment cost up to USD 200,000 which may hamper the market growth up to some extent.

Global Medical Simulation Market Regional Analysis–

North America is expected to dominate the global medical simulation market with highest share due to increasing demand for minimally invasive treatments, high adoption rate of simulation technology by medical universities and training centers, easy accessibility to technologies and rising number of healthcare professionals in this region. For instance, in United States due to medical error, it is estimated that as many as 440,000 deaths occurs each year and to lessen these deaths the government and universities are actively installing simulation programs to train medical students and professionals which creates conducive environment for the market to grow.

Europe is expected to show a fast growth in global medical simulation market due to robust healthcare infrastructure, availability of simulation facilities in universities and increasing demand of patient safety in this region. Asia-Pacific is expected to have highest growth rate due to government initiatives on strengthening the healthcare industry and fast developing economies and adoption of new technology in the healthcare industry in this region.

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2022 - 2028
Market Size in 2021:	USD 1.84 Billion
Base year considered	2021
Forecast Period CAGR %:	15.29 %
Market Size Expected in 2027:	USD 4.99 Billion
Tables, Charts & Figures:	175
Pages	200
Key Players/Companies	3D Systems,Canadian Aviation Electronics (CAE),Laerdal Medical,Gaumard Scientific Company Inc.,Limbs & Things Ltd,Kyoto Kagaku Co. Ltd,Mentice AB,Simulab Corporation,Simulaids Inc.,Nascoand,Others
Segments Covered	By Product & Services, By End-user, By Fidelity
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

Medical Simulation Market Segmentation:

By Product & Services

• Model-based Simulation
• Web based Simulation
• Simulation Training Services

By Fidelity

• Low-Fidelity
• Medium Fidelity
• High Fidelity

By End-User

• Academic Institutions & Research Centers
• Hospitals & Clinics
• Military Organizations

Regional & Country Analysis

North America
• U.S.
• Canada

Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific
• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America
• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Medical Simulation Market key Players:

Some major key players for global medical simulation market are,

• 3D Systems
• Canadian Aviation Electronics (CAE)
• Laerdal Medical
• Gaumard Scientific Company Inc.
• Limbs & Things Ltd
• Kyoto Kagaku Co. Ltd
• Mentice AB
• Simulab Corporation
• Simulaids Inc.
• Nascoand
• Others

Key Benefits for Global Medical Simulation Market Report–

• Global Medical Simulation Market report covers in depth historical and forecast analysis.
• Global Medical Simulation Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global Medical Simulation Market report helps to identify opportunities in market place.
• Global Medical Simulation Market report covers extensive analysis of emerging trends and competitive landscape.