Burlingame, Jan. 12, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global medical simulation market is estimated to be valued at US$ 1,923.7 million in 2022 and is expected to exhibit a CAGR of 12.4% during the forecast period (2022-2030).
Analysts’ Views on Global Medical Simulation Market:
The medical simulation market's growth can be driven by the increase in the product launches by key market players. For instance, in May 2022, Medical Microinstruments (MMI) SpA, a developer of novel robotic solutions for unmet medical needs, announced that they have launched Symani surgical system simulator to assist surgeons in developing their skills in a safe, simulated environment.
Key Trends and Analysis of the Global Medical Simulation Market:
Global Medical Simulation Market- Driver
Increasing prevalence of cancer
An increase in the prevalence of cancer such as lung cancer is expected to drive the market growth over the forecast period. For instance, according to the American Cancer Society, in 2022, there were around 236,740 new cases of lung cancer (117,910 in men and 118,830 in women) and about 130,180 deaths from lung cancer (68,820 in men and 61,360 in women), in the U.S.
Increase in the launch of medical simulation platforms and centers
An increase in the launch of simulation training centers or platforms by key market players and various research institutes is expected to drive market growth. For instance, in October 2022, Capital Health, a U.S.-based medical service provider, announced that it had launched a new advanced simulation training center and multidisciplinary clinical training for physicians, nurses, emergency medical service providers, and other staff in the U.S.
Moreover, in April 2022, the Delhi Academy of Medical Sciences (DAMS) announced that it had launched a simulation-based medical education facility that can be used by medical students to practice without causing harm to patients, in Delhi, India.
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Global Medical Simulation Market- Restraints
High cost of medical simulation system
The major factors that can hamper growth of the global medical simulation market over the forecast period include lack of availability of trained technician and high cost of medical simulation system.
Global Medical Simulation Market Cross Sectional Analysis:
In technology/fidelity segment, the High-Fidelity Simulators segment is expected to hold a dominant position in Europe due to an increase in product launches by key market players. For instance, in January 2022, Inovus Limited, a U.K.-based manufacturer of surgical training technologies, announced that it had launched a new high-fidelity hysteroscopy simulator, HystAR. This new simulator combines the company’s patented Augmented Reality technology and cloud-based learning platform with the natural haptics of its simulated tissue models to deliver highly realistic, scalable, tracked hysteroscopy skills training, which can also be used in the medical field.
Global Medical Simulation Market Segmentation:
The global medical simulation market report is segmented into products and services, technology/fidelity, and end user
Based on Products and Services, the market is segmented into Products (Interventional/Surgical Simulators, Task Trainers, and others), Services & Software (Web-Based Simulation, Medical Simulation Software, Simulation Training Services, and Others). Out of which, Services & Software segment is expected to dominate the medical simulation market during the forecast period and this is attributed due to increase in the product launch.
Based on Technology/Fidelity, the market is segmented into High-Fidelity Simulators, Medium-Fidelity Simulators, and Low-Fidelity Simulators. Out of which, High-Fidelity Simulators is expected to dominate the medical simulation market during the forecast period and this is attributed due to increase in the product launch.
Based on End User, the market is segmented into Academic & Research Institutes, and Hospitals. Out of which, Non-steroidal anti-inflammatory Drugs (NSAIDs) segment is expected to dominate the Medical Simulation market during the forecast period and this is attributed due to increase in the usage of NSAIDs and product launch.
Among all segmentation, products and services segment has highest potential due to increase in product launches by key market player. For instance, in June 2021, InSimo SAS, a company involved in the development of simulation software for medical and surgical training, announced that they have launched ENSIST project (Endoscopic Simulation for Surgical Training), for the development of simulation modules dedicated to learning new surgical techniques using endoscopy approach.
Global Medical Simulation Market: Key Developments
In June 2022, Mentice Gothenburg, a global company involved in developing simulation solutions for image-guided interventional therapies, announced that they have received order worth US$ 1.9 Million for developing medical simulation solutions for Medtronic, an U.S. based medical device company.
In December 2021, Laerdal Medical, a company involved in developing solution for healthcare provider, announced that they have made technological advancement in SimMan, and named it as SimMan 3G PLUS, a medical simulator used in to carry out various simulated surgeries.
In February 2021, VirtaMed AG, a medical simulation developing company, announced that they have launched technologically advanced surgical gynecology simulation suite, a mixed reality training platform for hysteroscopy and gynecological laparoscopy.
Key Market Takeaways:
The global medical simulation market is expected to exhibit a CAGR of 12.4% during the forecast period, owing to the increasing inorganic growth strategies such as partnerships and collaborations adopted by key market players. For instance, in September 2021, Nasco Healthcare, a healthcare technology company involved in manufacturing digital health solutions, announced that it had entered into a partnership agreement with SKILLQUBE GmbH, a Germany-based medical simulation company, to develop realistic patient monitoring and medical device emulation solutions.
Among end user, the academic & research institutes segment is expected to hold a dominant position, owing to an increase in government grants and approvals. For instance, in October 2022, VinUni., a private and nonprofit university in Vietnam, announced that its Medical Simulation Center (VMSC) had received a grant from the society for simulation in healthcare (SSH), the world’s largest accreditation organization in healthcare simulation training.
Among regions, North America is estimated to account for the largest market share in the global medical simulation market over the forecast period, due to an increase in the use of simulations and augmented reality by various institutes in the region. For instance, in November 2022, CAMLS (Center For Advanced Medical Learning And Simulation), a medical simulation department of the University of South Florida, announced that they are involved in research to incorporate the use of virtual and augmented reality in medical simulation training.
Competitive Landscape:
Key players operating in the global medical simulation market include Nasco, Simulaids Inc., Simulab Corporation, Mentice AB, Limbs & Things, Kyoto Kagaku Co. Ltd., Laerdal, Canadian Aviation Electronics, 3D Systems, and Gaumard Scientific Company Inc.
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Market Segmentation:
- Global Medical Simulation Market, By Products and Services:
- Products
- Interventional/Surgical Simulators
- Laparoscopic Surgical Simulators
- Gynecology Surgical Simulators
- Cardiac Surgical Simulators
- Arthroscopic Surgical Simulators
- Others
- Task Trainers
- Others
- Interventional/Surgical Simulators
- Services & Software
- Web-Based Simulation
- Medical Simulation Software
- Simulation Training Services
- Others
- Products
- Global Medical Simulation Market, By Technology/Fidelity:
- High-Fidelity Simulators
- Medium-Fidelity Simulators
- Low-Fidelity Simulators
- Global Medical Simulation Market, By End User:
- Academic & Research Institutes
- Hospitals
- Global Medical Simulation Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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