Pune, March 17, 2023 (GLOBE NEWSWIRE) -- The Healthcare/Medical Simulation Market was valued at USD 2.31 billion in 2022, as reported by SNS Insider. It is anticipated to grow at a compound annual growth rate (CAGR) of 16.1% between 2023 and 2030 and is projected to reach USD 7.62 billion by 2030.
Market Overview
Healthcare/Medical simulation is a rapidly growing field that involves the use of advanced technology to create realistic scenarios that simulate medical procedures and patient care. It provides a safe and controlled environment for healthcare professionals to develop and improve their clinical skills without risking the safety of patients. Healthcare professionals can use simulation to learn new procedures, refine their techniques, and develop their communication and teamwork skills.
Market Analysis
The healthcare/medical simulation market is expected to experience significant growth in the coming years. One of the primary drivers of this growth is the rapid pace of technological advancements in the healthcare sector. With new technologies emerging almost every day, healthcare providers are increasingly turning to simulation to help them stay up to date and provide the best possible care for their patients. Another factor that is contributing to the growth of the market is the increasing preference for minimally invasive treatment options. With medical errors being a leading cause of patient harm, healthcare providers are looking for ways to improve patient safety. Simulation is an effective tool for identifying potential risks and hazards, testing new protocols, and developing best practices.
Major Key Company Profiles Listed in this Report Are:
- CAE (Canadian Aviation Electronics, Ltd)
- Surgical Science Sweden AB
- Limbs & Things Ltd
- Kyoto Kagaku Co., Ltd
- Mentice AB
- Laerdal Medical
- Simulaids
- 3D Systems
- Simulab Corporation
- Gaumard Scientific Company
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Healthcare/Medical Simulation Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 2.31 Billion |
| Market Size by 2030 | US$ 7.62 Billion |
| CAGR | CAGR of 16.1% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Healthcare/Medical Simulation Market: Key Segments | • By Product & Services Type (Healthcare Anatomical Models, Web-Based Simulators, Healthcare Simulation Software, Simulation Training Services) • By Technology Type (Virtual Patient Simulation, 3D Printing, Procedure Rehearsal Technology) • By End-use (Academic Institutes, Hospitals, Military Organizations, Research (Medical Device Companies)) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Impact of Russia-Ukraine Conflict
With the ongoing conflict, it is likely that medical simulation will continue to play an important role in the healthcare industry in both countries, helping to bridge the gap between available resources and the growing demand for quality healthcare services. Despite several challenges, the market in both Russia and Ukraine is expected to grow in the coming years, driven by the increasing need for healthcare professionals to improve their skills and knowledge in the face of ever-evolving healthcare challenges.
Key Regional Developments
The healthcare/medical simulation market has witnessed significant growth in North America, mainly due to the presence of key players in the region and high investments in technology. The region has held the largest revenue share in the market, and this trend is expected to continue over the forecast period. In addition to North America, the Asia Pacific segment is expected to witness substantial growth over the forecast period. This growth can be attributed to constant improvements in healthcare infrastructure in the region.
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Key Takeaway from Healthcare/Medical Simulation Market Study
- The market is a rapidly growing industry, with the academic institutes' segment leading the way. Academic research institutions have played a critical role in this growth, as they are actively involved in the study of complex biological systems using computer models.
- The healthcare anatomical model segment has seen significant growth in recent years, with the demand for these models increasing across the globe. Healthcare anatomical models can be used to train medical professionals, allowing them to gain hands-on experience in a safe and controlled environment.
Recent Developments Related to Healthcare/Medical Simulation Market
- MediSim VR, a cutting-edge virtual reality medical training company, has announced a partnership with the Director of the Simulation Center at Harvard Medical School, Dr. Benjamin Z. Freedman. The collaboration aims to drive VR-based medical training globally, revolutionizing the way medical professionals are trained and prepared for real-life scenarios. Through this partnership, MediSim VR and Dr. Freedman will work together to expand the use of VR-based medical training globally.
- Simulands, a Zurich-based medical training technology company, has recently secured a significant boost of €10 million in funding. This investment will enable the company to further develop its innovative medical training solutions and provide more effective and realistic training for healthcare professionals. The company plans to invest in research and development to improve its existing technology and to create new training solutions for a range of medical specialties.
Table of Contents
1. Introduction
2. Research Methodology
2. Research Methodology
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Healthcare/Medical Simulation Market Segmentation, By Product & Services Type
9. Healthcare/Medical Simulation Market Segmentation, By Technology Type
10. Healthcare/Medical Simulation Market Segmentation, By End-Use
11. Regional Analysis
12 Company Profiles
13 Competitive Landscape
14 Conclusion
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