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$3.4 Billion Healthcare/Medical Simulation Markets - Global Forecast to 2026 - ResearchAndMarkets.com

·4-min read

DUBLIN, October 14, 2021--(BUSINESS WIRE)--The "Healthcare/Medical Simulation Market by Product and Service (Patient Simulators, High Fidelity Simulators, Low Fidelity Simulators, Task Trainer, Surgical Simulators, Virtual tutor) By End User (Academic Institutes, Hospital) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The healthcare/medical simulation market is expected to reach USD 3.4 billion by 2026 from USD 1.7 billion in 2021, at a CAGR of 15.1% from 2021 to 2026.

The limited access to live patients during training, advancements in medical education, increasing demand for minimally invasive treatments, increasing focus on patient safety, and growing demand for virtual training due to current COVID-19 pandemic are the major factors driving the growth of the medical simulation market.

Moreover, factors such as growing awareness pertaining to simulation education in emerging countries and shortage of healthcare personnel are creating lucrative opportunities for the market players.

Laparoscopic surgical simulators segment to have the largest share during the forecast period.

Laparoscopic surgical simulators accounted for the largest share of the interventional/surgical simulators market in 2020. The high adoption of simulation techniques in laparoscopy and technological innovations are responsible for the large share of this segment during the forecast period.

Academic institutes segment to grow at the highest CAGR from 2021 to 2026.

Based on end user, the medical simulation market is segmented into academic institutes, military organizations, hospitals and others. In 2020, the academic institute segment accounted for the largest share of the medical simulation market in 2020, followed by hospitals and military organizations.

Factors responsible for the growth of this segment are the gradual shift of focus away from traditional learning, advent of advanced simulation-based technologies, wide utilization of simulation models in medical surgeries, increasing focus on minimizing errors, and cost-effectiveness of procedural training for medical physicians.

APAC to witness the highest growth rate during the forecast period.

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven by the increasing focus on medical education, training, & research and the increasing focus on patient safety and increasing healthcare expenditure.

Key players in the healthcare/medical simulation market

The key players operating in the healthcare/medical simulation market include CAE Inc. (Canada), Laerdal Medical (Norway), 3D Systems (US), Gaumard Scientific Co. (US), Limbs & Things (US), Surgical Science Sweden AG (Sweden), Kyoto Kagaku (Japan), Mentice AB (Sweden), Intelligent Ultrasound Group Plc (UK), Simulab Corp. (US), Simulaids (US).

Premium Insights

  • Advancements in Medical Technology is a Key Factor Driving the Market Growth

  • Medical Simulation Anatomical Model Segment and Japan Accounted for the Largest Share of the APAC Market in 2020

  • China to Register the Highest Growth During the Forecast Period

  • North America to Dominate the Medical Simulation Market During the Forecast Period

  • Developing Countries to Register Higher Growth During the Forecast Period

Market Dynamics

Drivers

  • Limited Access to Patients During Medical Training

  • Rising Technological Advancements in Medical Education

  • Growing Demand for Minimally Invasive Treatments

  • Increasing Focus on Patient Safety

  • Growing Preference for Virtual Interaction Due to the COVID-19 Pandemic

Restraints

  • Limited Availability of Funds

  • Poorly Designed Medical Simulators

Opportunities

  • Shortage of Healthcare Personnel

  • Growing Awareness for Simulation Training in Emerging Economies

Market Challenges

  • High Cost of Simulators

  • Operational Challenges

Patent Analysis

  • Patent Publication Trends for Medical Simulation

  • Patent Publication Trends (January 2011-June 2021)

  • Jurisdiction and Top Applicant Analysis

  • Top Applicants & Owners (Companies/Institutions) for Medical Simulation Patents (January 2011 to June 2021)

  • Top Applicant Countries/Regions for Medical Simulation Patents (January 2011 to June 2021)

Industry Trends

  • Use of Virtual Reality (Vr) and Augmented Reality (Ar) in Medical Simulation

  • High-Fidelity Technological Advancements

  • Multimodal Approach in the Development of Simulators

  • Utilisation of Ai and Ml Software in Surgical Procedures

  • Growing Use of Hcit/Emr

Company Profiles

Key Players

  • Cae Inc.

  • 3D Systems

  • Laerdal Medical

  • Gaumard Scientific Co.

  • Kyoto Kagaku

  • Limbs & Things

  • Mentice Ab

  • Simulab Corp.

  • Simulaids

  • Intelligent Ultrasound Group plc

  • Operative Experience Inc.

  • Surgical Science Sweden Ab

  • Cardionics Inc. (Subsidiary of 3B Scientific)

  • Virtamed Ag

  • Synbone Ag

  • Ingmar Medical

  • Medical-X

  • Kavo Dental Gmbh

  • Altay Scientific

  • Simendo B.V.

Other Players

  • Vrmagic Holding Ag.

  • Symgery

  • HRV Simulation

  • Synaptive Medical

  • Inovus Medical

For more information about this report visit https://www.researchandmarkets.com/r/498ulq

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005756/en/

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