Medical Simulation Market Size, Share & Forecast To 2023

Posted by Rishabh on January 9th, 2020

The global medical simulation market is projected to grow at a CAGR of 11.0% during the forecast period (2018-2023). The growth of the medical simulation market is attributed to various factors such as increasing demand for minimally invasive treatments and growing preference of the modern way of training to healthcare professionals. Further, benefits provided by the simulation such as user-friendly interface over conventional training is also significantly contributing to the global medical simulation market growth. In addition, advancements in technology such as the introduction of AR and VR further contribute to the growth of the market during the forecast period. 

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AR in medical education can significantly enhance the experience of learning. In medical applications, AR technology is used to enable medical students to practice surgery in a controlled environment. Visualizations through augmented reality can help to explain complex medical conditions to trainees. Additionally, technology can be an aid to reduce the risk of operation by providing improved sensory perception. Such benefits provided by the introduction of AR in medical training fuels the growth of the market. The introduction of VR and AR in medical simulation is expected to augment the growth of the market. Virtual reality is an emerging technology and is finding wide acceptance in the medical simulation. 

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Medical communities, including researchers and clinicians, are adopting virtual reality technology due to various potential benefits. VR provides a fully 3D computer-simulated world, in which a person can move about and interact with things, similar to an imaginary place. The VR has a large number of applications for health and healthcare, which ranges from the clinical to the consumers. From developing novel life-saving techniques to training future doctors. Virtual Reality has the capability of transporting a person inside the human body, in order to access & inspect areas that are otherwise impossible to reach. At present, the medical students learn anatomy on the corpse, which is difficult to handle; therefore, providing support to the global medical simulation market. 

Additionally, VR can reduce the cost of medical training. It can save travel costs to other locations such as a simulation center, and remotely with marginal extra cost, enables more people trained repeatedly, reduce the operational costs of physical training facilities. There are various companies that are engaging in the VR products for the medical simulation such as Surgical Theatre, Vicarious Surgical, Pathos Health, Embodied Labs, AppliedVR and others. These companies are contributing to the VR technology in medical simulation by introducing new technology such as Surgical Theatre provides precision VR Systems that comprises different products such as the surgical planner, Precision VR viewer and others. This, in turn, will increase the presence of VR and AR in the medical simulation industry. 

Global Medical Simulation Market - Segment

By Components

  1. Web-based Simulation

       o   Simulation Software and Performance Recording Software

       o   Virtual Tutor

  1. Model-based Simulation

       o   Patient Simulators

       o   Ultrasound Simulators

       o   Surgical Simulators

       o   Endovascular Simulators

       o   Others

  1. Simulation Training Services

By Fidelity

  • Low-Fidelity
  • Medium-Fidelity
  • High-Fidelity

By End-User

  • Academic Institutes & Research Centers 
  • Hospitals 
  • Military Organizations

Global Medical Simulation Market - Regional

North America           

  • US
  • Canada

Europe

  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe

Asia-Pacific    

  • China
  • Japan
  • India
  • Rest of Asia-Pacific

Rest of the World

  • Middle East & Africa 
  • Latin America

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Rishabh

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Rishabh
Joined: June 18th, 2019
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