Chicago, Dec. 01, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "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", 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.
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Scope of the Report:
| Report Coverage | Details |
| Market Size | USD 4.2 billion by 2027 |
| CAGR | 16.1% |
| Historical Data | 2020-2027 |
| Base Year | 2021 |
| Forecast Period | 2022-2027 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Products & Service, By End User, By Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America and Middle East & Africa |
| Key Companies Profiled/Vendors | CAE (Canada), Laerdal Medical (Norway), Gaumard Scientific Co. (US), Limbs & Things (UK), Surgical Science Sweden AB (Sweden), Kyoto Kagaku (Japan), Mentice AB (Sweden), Intelligent Ultrasound Group Plc (UK), Simulab Corp. (US), Simulaids (US), Operative Experience Inc. (US), Cardionics Inc. (US), VirtaMed AG (Switzerland), Altay Scientific (Italy), IngMar Medical (US), TruCorp Ltd. (Ireland), Medical-X (Netherlands), KaVo Dental GmbH (Germany), Simendo B.V. (Netherlands), VRMagic Holding AG (Germany), Symgery (Canada), HRV Simulation (France), Synaptive Medical (Canada), and Inovus Medical (UK). |
| Key Market Opportunities | Growing awareness about simulation training in emerging economies |
| Key Market Drivers | Increasing focus on patient safety |
The factors driving market growth include the increasing demand for minimally invasive treatments, and increasing focus on patient safety. However, the poor designing of medical simulators is restraining the market growth during the forecast period.
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The medical simulation anatomical models segment is projected to be the largest segment on the basis of product & service of the medical simulation market. Factors such as the high adoption of high-fidelity (degree of realism) products, increasing demand for primary care services is attributed to the large share of the segment in the forecast period.
Based on end users, the academic institutes segment held the largest share of the medical simulation market. The large share of this segment can be attributed to the growing demand for virtual tutors due to the COVID-19 pandemic, the gradual shift of focus away from traditional learning.
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Geographical Growth Scenario:
Emerging Asian markets such as China and India are expected to offer significant growth opportunities for players operating in the medical simulation market. Market growth in the APAC region is mainly driven by factors such as the increasing focus on medical education, training, research, and patient safety, as well as the increasing healthcare expenditure.
Key Players:
CAE (Canada), Laerdal Medical (Norway), Simulab Corporation (US), Simulaids (US), Limbs & Things (UK), Kyoto Kagaku (Japan), Mentice AB (Sweden), Gaumard Scientific Co. (US), Operative Experience Inc. (US), Cardionics Inc. (US) (a subsidiary of 3B Scientific), VirtaMed AG (Switzerland), SYNBONE AG (Switzerland), IngMar Medical (US), Medical-X (Netherlands), KaVo Dental GmbH (Germany), Altay Scientific (Italy), Simendo B.V. (Netherlands) VRMagic Holding AG (Germany), Symgery (Canada), HRV Simulation (France), Synaptive Medical (Canada), Inovus Medical (UK), TruCorp Ltd. (Ireland), and Surgical Science Sweden AG (Sweden) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market.
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