Healthcare / Medical Simulation Market

[259 Pages Report] The global medical simulation market size is projected to reach USD 3.7 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 14.6% during the forecast period. The market growth can be attributed to factors such as the benefits of simulation over traditional learning, increasing demand for minimally invasive treatments, and increasing focus on patient safety.

The shortage of healthcare personnel, growing awareness pertaining to simulation education in emerging countries, and technological advancements are expected to create lucrative opportunities for players in the market. On the other hand, budgetary constraints, the high cost of simulators, and operational challenges are all major factors that are expected to challenge market growth to a certain extent during the forecast period.

The web-based simulation segment is estimated to grow at the highest CAGR in the medical simulation market, by type, in 2019

Based on the products and services, the medical simulation market is segmented into medical simulation anatomical models, medical simulation software, web-based simulation, and simulation training services. The web-based simulation segment is estimated to grow at the highest CAGR during the forecast period. The high growth in this segment can be attributed to the wide availability of Internet services, controlled and predictable environment for learning, and controlled access to simulation procedures.

The medical simulation laparoscopic segment will continue to dominate the interventional/ surgical simulation market during the forecast period

Based on the interventional/surgical simulators, the medical simulation is broadly categorized into laparoscopy surgical simulators, gynecology simulators, cardiovascular simulators, orthopedic simulators, spine surgical simulators, and others. Laparoscopy is the largest segment in this market, primarily due to the increasing number of clinical trials conducted for oncology and the rising prevalence of cancer worldwide. The high adoption of simulation techniques in laparoscopy and technological innovations are factors responsible for the large share of this segment during the forecast period. This is expected to drive the demand for medical simulation in the clinical trials of cancer drugs.

Academic institutes are the largest end-users of the medical simulation market.

Based on end-users, the medical simulation market is segmented into academic institutes, military organizations, hospitals, and others. In 2019, the academic institute segment accounted for the largest share of the medical simulation market, followed by hospitals and military organizations. The hospital segment is expected to witness the highest growth during the forecast period. Factors responsible for the growth of this segment are the gradual shift of focus away from traditional learning, the advent of advanced simulation-based technologies, full utilization of simulation models in medical surgeries, increasing focus on minimizing errors, and cost-effectiveness of procedural training for medical physicians.

Asia Pacific market to witness the highest growth during the forecast period

The global medical simulation market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily due to the presence of a large patient population (especially in China and India), increasing investments in R&D, increasing focus on medical education, training, research, and patient safety, and rising healthcare expenditure.

Key Market Players

The prominent players in the medical simulation market are CAE (Canada), Laerdal Medical (Norway), 3D Systems (US), Simulab Corporation (US), Simulaids (US), Limbs & Things (US), Kyoto Kagaku (Japan), Mentice  AB (Sweden), Medaphor (UK), Gaumard Scientific Company (US), Operative Experience, Inc. (US), Cardionics Inc. (US), VirtaMed AG (Switzerland), SynBone AG (Switzerland), VRMagic Holding AG (Germany), OssimTech (Canada), HRV Simulation (France), Synaptive Medical (Canada), Inovus Medical (UK), and Surgical Science Sweden AG (Sweden).

Please visit 360Quadrants to see the vendor listing of Simulation Software.

Scope of the Report:

Report Metric	Details
Market Size Available for Years	2018–2025
Base Year Considered	2019
Forecast Period	2020–2025
Forecast Unit	Value (USD Million)
Segments Covered	Products & Services  and End User
Geographies Covered	North America Europe Asia Pacific Latin America Middle East & Africa

The research report categorizes the medical simulation market into the following segments and sub-segments:

By products and services

• Healthcare Simulation Anatomical Models                
• Patient Simulators   
• High Fidelity
• Medium Fidelity
• Low Fidelity
• Task Trainers
• Interventional/Surgical Simulators
  • Laparoscopic Surgical Simulators
  • Gynecology Simulators
  • Cardiovascular Simulators
  • Arthroscopic Surgical Simulators
  • Spine Surgical Simulator
  • Other Interventional/Surgical Simulators
  • Endovascular Simulators
  • Ultrasound Simulators
  • Dental Simulators
  • Eye Simulators
• Web-Based Simulation
• Healthcare Simulation Software
  • Performance Recording Software
  • Virtual Tutors
• Simulation Training Services
• Vendor-Based Training
• Diagnosis-based training
• Surgical based training
• Educational Societies
• Custom Consulting Services

By End User

• Academic Institutes
• Hospitals
• Military  Organizations
• Others (Research centers, Ambulatory care services )

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa

Recent Developments

• In April 2020, CAE collaborated with Area9 Lyceum (US) to provide an online Ventilator Reskilling Course to the clinician's midst of the Covid-19 pandemic.
• In April 2020, 3D Systems launched Lung Ultrasound Training services to combat the current COVID-19 pandemic.
• In March 2020, CAE launched the Vimedix 3.0, a high fidelity simulator that facilitates the learning process for cardiac, lung, Obs/Gyn, and stomach all in one through a common platform.
• In March 2020, 3D Systems collaborated with Ben Gurion University (Israel), and Beer- Sheva (Israel). The collaboration aimed to develop training modules that enable clinicians to acquire rapid and accurate lung diagnostic skills using an ultrasound machine and improve Covid-19 Triage.

Key Questions Addressed in the Report

• What are the top 10 players operating in the medical simulation market?
• What are the drivers, restraints, opportunities, and challenges impacting the market?
• What are the prevailing industry trends?
• What is the current scenario of the medical simulation market?
• How is the medical simulation market performing in different regions across the globe?

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