Chicago, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Healthcare Simulation market in terms of revenue was estimated to be worth $2.3 billion in 2023 and is poised to reach $5.2 billion by 2028, growing at a CAGR of 16.7% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Market growth is propelled by the rising demand for minimally invasive treatments and a growing emphasis on patient safety. Nonetheless, the inadequate design of medical simulators hinders market expansion throughout the forecast period.
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Healthcare Simulation Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $2.3 billion |
| Estimated Value by 2028 | $5.2 billion |
| Growth Rate | Poised to grow at a CAGR of 16.7% |
| Market Size Available for | 2021-2028 |
| Forecast Period | 2023-2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product & Service, Technology, End User |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America and Middle East and Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Increasing recognition of simulation training in developing economies |
| Key Market Driver | Growing emphasis on ensuring patient safety |
This report provides segmentation of the healthcare simulation market based on product & service, technology, end user, and region.
The largest segment in the healthcare simulation market, based on product & service, is expected to be the healthcare simulation anatomical models. This dominance is driven by factors such as the widespread adoption of high-fidelity products and a growing demand for primary care services during the forecast period. These models provide a realistic representation of human anatomy, allowing healthcare professionals and students to practice various procedures, surgeries, and interventions in a controlled and risk-free environment.
The academic institutes segment secured the most significant share in the healthcare simulation market based on end users. This dominance is a result of the increased demand for virtual tutors due to the impact of the COVID-19 pandemic and a gradual shift away from traditional learning approaches. These institutions, including medical schools, nursing programs, and allied health training centers, rely heavily on simulation technology to enhance the practical skills of students and prepare them for real-world clinical scenarios.
Furthermore, prospective growth opportunities for participants in the healthcare simulation market are anticipated in emerging Asian markets, notably China and India. The expansion in the APAC region is primarily propelled by factors like a heightened emphasis on medical education, training, research, patient safety, and the escalating heaaslthcare expenditure.
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Healthcare Simulation market major players covered in the report, such as:
- 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)
- Inovus Medical (UK)
- and Among Others
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The study categorizes healthcare simulation market based on product & service, technology, end user at the regional and global levels.
Global Healthcare Simulation Market, by Segment
Healthcare Simulation Market, By Product & Service
- Medical Simulation Anatomical Models
- Patient Simulators
- By Type
- High Fidelity Simulators
- Medium Fidelity Simulators
- Low Fidelity Simulators
- By Application
- Laparoscopic Surgical Simulators
- Gynecology Simulators
- Cardiovascular Simulators
- Orthopedic Simulators
- Spine Surgical Simulators
- Endovascular Simulators
- Others
- Task Trainer
- Interventional/Surgical Simulators
- Laparoscopic Surgical Simulators
- Gynecology Simulators
- Cardiovascular Simulators
- Orthopedic Simulators
- Spine Surgical Simulators
- Endovascular Simulators
- Other urgical Simulators
- Ultrasound Simulators
- Dental Simulators
- Eye Simulators
- By Type
- Patient Simulators
- Web-Based Simulation
- Medical Simulation Software
- Simulation Training Services
- Vendor Based Training
- Education Societies
- Custom Consulting Services
Healthcare Simulation Market, By Technology
- Introduction
- Virtual Patient Simulation
- 3D Printing
- Procedural Rehearsal Technology
Healthcare Simulation Market, By End User
- Introduction
- Academic institutes
- Hospitals
- Military Organizations
- Other End Users
Global Healthcare Simulation Market, by region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- RoE
- Asia Pacific
- Japan
- China
- India
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLATAM
- Middle East & Africa
- GCC
- RoMEA
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Key Market Stakeholders:
- Academic medical centers
- Government research organizations
- Hospitals and clinics
- Military organizations
- Research and consulting firms
- Simulation training service providers
- Medical device companies
- Medical simulator manufacturing companies
- Medical simulator service providers
- Regulatory bodies
- Insurers
- Credentialing organizations
- Professional societies
Report Objectives:
- To define, describe, and forecast the global healthcare simulation market by product & service, technology, end user, and region
- To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, opportunities, and challenges)
- To analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall healthcare simulation market
- To assess the healthcare simulation market with regard to Porter’s Five Forces, regulatory landscape, value chain, ecosystem map, patent protection and key stakeholder’s buying criteria
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the healthcare simulation market with respect to five main regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players in the healthcare simulation market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments such as agreements, partnerships, and acquisitions; expansions; product launches and enhancements; and R&D activities in the healthcare simulation market
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