Medical Simulation Market by Competitive Analysis, Demand and Outlook to 2030

Posted by Vedika on December 22nd, 2020

The Global Medical Simulation Market size was valued at USD 1.69 billion in 2019, and is predicted to reach USD 7.64 billion by 2030, with a CAGR of 14.7% from 2020-2030.

Medical simulation or healthcare simulation involves artificial or human simulated patients, animated simulants, holographic simulants, or their combination, to create an artificial representation of the real clinical scenarios. Medical simulation aims to impart education and train healthcare professionals to perform general practice, prescription, crisis interventions, surgery, and casualty assessment in homeland security, as well as emergency response in military situations. Along with healthcare facilities, and military services; medical simulation hold wide applications in educational institutes, and research centers.

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Top Companies: B-Line Medical LLC., CAE Ltd., 3B Scientific GmbH, Anesoft Corporation, Surgical Science Sweden AB, 3D Systems, Inc., Laerdal Medical, Gaumard Scientific Company, Inc., Canadian Aviation Electronics, Ltd and others.

The global medical simulation market share has been analyzed based on product, services & software, technology, end users, and geography. Based on product, the market is segmented into surgical & interventional simulators, task trainers and others. The surgical & interventional simulators segment is sub segmented into laparoscopic surgical simulators, gynecology surgical simulators, cardiac surgical simulators, arthroscopic surgical simulators, and others. The service & software segment are divided into web-based simulation, medical simulation software, simulation training services, and others. Based on technology, the market is divided into high-fidelity simulators, medium-fidelity simulators, and low-fidelity simulators. Based on end users, the market is categorized into academic institutes and research centers, hospitals & clinics, and military organizations. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

North America holds the major market share in medical simulation market and is expected to maintain its dominance over the forecast period. The factors attributed to the growth of medical simulation market include increase in patient safety norms, technological advancements, along with increasing demand for healthcare services. It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to the development of healthcare facilities, increase in commercialization of medical simulators, higher adoption of advanced technology and augmentation in healthcare spending by public as well as private sectors.

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