Medical Simulation Market Size growing with a CAGR of 14.3% : Application, Type, Customer Segments and regional forecasts

According to a new report published by Allied Market Research, titled, "Medical Simulation Market by Product & Service, Fidelity, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global medical simulation market was valued at $986 million in 2016, and is projected to reach $2,526 million by 2023, growing at a CAGR of 14.3% from 2017 to 2023. By product & service, the model-based simulation held more than half of the global medical simulation market in 2016.

Medical simulation is a training method in which healthcare professionals practice tasks and processes in real life circumstances using virtual reality or simulation models. Increase in use of simulation in healthcare, surge in emphasis on patient safety & outcomes, limited access to live patients during training, and medical technology revolution drive the growth of the market. However, the high cost of installation and other related expenditures are expected to impede the market growth.

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Key Findings of the Medical Simulation Market:

• Surgical simulation is projected to grow at a significant CAGR of 14.6%,
during the forecast period (2017-2023).

• Japan accounted for more than one-third share of the Asia-Pacific medical simulation market in 2016.

• Hospitals & clinics segment contributed for more than half of the global market in 2016.

• Germany and France together accounted for more than one-third share of the European medical simulation market in 2016.

• Web-based simulation segment contributed for nearly one-third share of the global medical simulation market in 2016.

By fidelity, the low-fidelity simulators segment dominated in 2016 with three-fifths share in the global medical simulation market. Based on application, the hospitals & clinics segment is expected to dominate the global market in the future owing to increase in the number of surgical procedures. On the other hand, the academic institution & research centers segment is estimated to exhibit a CAGR of 15.6%.

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The Asia-Pacific market is projected to grow at the highest CAGR of 15.6% during the forecast period, owing to increase in awareness about the benefits of simulation in healthcare industry and rise in expenditures in the emerging markets (such as India and China) to cater to the unmet medical needs.

Key players:

•Laerdal Medical AS
• CAE Inc.
• 3D Systems Inc.
• Simulab Corporation
• Simulaids Inc.
• Limbs and Things Ltd.
• Kyoto Kagaku Co. Ltd.
• Mentice AB
• Surgical Science Sweden AB
• Gaumard Scientific Company Inc.

Table of content :

Chapter: 1: INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models


Chapter: 2: EXECUTIVE SUMMARY

2.1. Key findings of the study
2.2. CXO perspective


Chapter: 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings

3.2.1. Top winning strategies
3.2.2. Top investment pockets

3.3. Market share analysis, 2016
3.4. Market dynamics

3.4.1. Drivers

3.4.1.1. Low expenditure on healthcare
3.4.1.2. Assured improvement in patient safety outcomes
3.4.1.3. Benefits of medical simulation
3.4.1.4. Technological advancements in medical field

3.4.2. Restraints

3.4.2.1. High cost of setting up simulators
3.4.2.2. Limitation of a complete real situation

3.4.3. Opportunities

3.4.3.1. Lucrative opportunities in emerging markets

3.4.4. Impact analyses

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