Wilmington, Delaware, United States, , Feb. 10, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – According to a TMR study, the global medical simulation market is anticipated to advance at a CAGR of 19.1% during the forecast period from 2023 to 2033.
Medical simulators are used in medical education across the world owing to their similarity to human qualities. Medical simulation is increasingly used in education and professional training programs. Few end-users that deploy medical simulation solutions include hospitals, academic institutes, research, and military organizations.
Launch of new medical simulation solutions is helping leading market players in generating revenue and in gaining an edge over other players. In August 2022, IngMar Medical launched a new, next-generation ventilation and respiratory solution.
Additionally, prominent companies are collaborating with other players to expand presence and increase revenue share.
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Key Findings of Market Study
- Increase in Demand for Healthcare Anatomical Products and Services: In terms of product & service type, the global market has been classified into healthcare anatomical models, web-based simulators, healthcare simulation software, and simulation training services. The healthcare anatomical segment accounted for dominant market share in 2020. Healthcare anatomical simulators have helped in research and production activities to conduct trials prior to the completion of designs and processes in the medical devices industry. These factors are likely to help propel the segment in the next few years.
- Rise in Demand for Procedure Rehearsal Technology: Based on technology, the global market is segmented into virtual patient simulation, three-dimensional printing, and procedure rehearsal technology. The procedure rehearsal technology accounted for a dominant share in 2020. Increase in the number of mistakes in the medical industry is anticipated to fuel the demand for procedure rehearsal technologies and drive the segment in future.
Medical Simulation Market - Key Drivers
- Increase in demand for minimally invasive surgeries across the globe
- Growth in application of haptic and reality technology is projected to offer business opportunities to leading players in the global market
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Medical Simulation Market - Regional Landscape
- North America is estimated to account for dominant market share during the forecast period. Growth in the number of clinicians requiring classroom training, surge in the integration of new technology in medical simulators, and presence of well-established distribution channels in the U.S. are likely to bolster market development in the region.
- The market in Asia Pacific is anticipated to witness significant growth during the forecast period due to rise in focus on medical studies and research, improving healthcare infrastructure, and increased availability of skilled labor and low production cost in countries such as China and India
Medical Simulation Market - Key Players
The global medical simulation market is competitive and has several international and local players. Entry of new companies could intensify the competition in the years to come.
Leading market players are investing in R&D to manufacture improved solutions that meet consumer requirements in different application areas. Increase in demand for improved medical simulation solutions is likely to help expand market size in the next few years.
Some of the key players in the market are
- Gaumard Scientific Company Inc.,
- Simulab Corporation,
- Canadian Aviation Electronics Limited,
- Limbs & Things Limited, and 3D Systems Inc.
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The global medical simulation market has been segmented as follows:
Product & Services Outlook
- Healthcare Anatomical Models
- Patient Simulators
- Task Trainers
- Interventional/Surgical Simulators
- Laparoscopic Surgical Simulators
- Gynecology Simulators
- Cardiovascular Simulators
- Arthroscopic Surgical Simulators
- Spine Surgical Simulators
- Other Interventional/Surgical Simulators
- Endovascular Simulators
- Ultrasound Simulators
- Dental Simulators
- Eye Simulators
- Web-based Simulators
- Healthcare Simulation Software
- Simulation Training Services
- Technology
- Virtual Patient Simulation
- 3D Printing
- Procedure Rehearsal Technology
- End-user
- Academic Institutes
- Hospitals
- Military Organizations
- Research
- Medical Device Companies
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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