Dublin, Nov. 01, 2022 (GLOBE NEWSWIRE) -- The "Healthcare/Medical Simulation Market by Product and Service (Anatomical Models, Patient Simulators (High Fidelity, Low Fidelity), Task Trainer, Surgical Simulators, Software, Services), End User (Academic Institutes, Hospital) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global medical simulation market is projected to reach USD 4.2 billion by 2027 from USD 1.9 billion in 2022, at a CAGR of 16.1% during the forecast period. Growth in this market is driven by the rising focus on patient safety, growing preference for virtual interaction. However, lack of skilled healthcare professionals and high cost of simulators are expected to restrain the growth of this market to a certain extent.
The web-based simulation segment registered the highest growth in the medical simulation market, by product & service
Based on the type, the web-based simulation segment registered the highest growth in the medical simulation market during the forecast period. Factors responsible for the growth of this segment is the wide availability of internet services, growing government initiatives for adopting HCIT solutions.
Academic institutes was the largest segment by the end user of medical simulation market in 2021
Academic institutes segment is projected to grow at the highest growth rate in the medical simulation market in 2021.Increasing utilization of simulation models in medical surgeries, increasing focus on minimizing errors, and cost-effectiveness of procedural training for medical physicians is expected to drive the demand for medical simulation services in the coming years.
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 factors such as the rising focus on medical research, growing medical tourism, increasing healthcare expenditure, and the rising purchasing power of consumers.
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
Restraints
- Limited Availability of Funds
- Poorly Designed Medical Simulators
Opportunities
- Shortage of Healthcare Personnel
- Growing Awareness About Simulation Training in Emerging Economies
Challenges
- High Cost of Simulators
- Operational Challenges
Key Players
- Altay Scientific
- Cae Inc.
- Cardionics Inc. (Subsidiary of 3B Scientific)
- Gaumard Scientific Co.
- Haag-Streit Simulation
- Hrv Simulation
- Ingmar Medical
- Inovus Medical
- Intelligent Ultrasound Group plc
- Kavo Dental GmbH
- Kyoto Kagaku
- Laerdal Medical
- Limbs & Things
- Medical-X
- Mentice Ab
- Operative Experience Inc.
- Simendo B.V.
- Simulab Corporation
- Simulaids
- Surgical Science Sweden Ab
- Symgery
- Synaptive Medical
- Synbone Ag
- Trucorp Ltd.
- Virtamed Ag
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Insights
7 Medical Simulation Market, by Product & Service
8 Medical Simulation Market, by End-user
9 Medical Simulation Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/fv3s09
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