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Medical Simulation Market is Becoming a Significant Focus of Discussion in Healthcare | CAE Inc, Gaumard Scientific Company

10-14-2020 03:24 PM CET | Health & Medicine

Press release from: Allied Market Research

Medical Simulation Market

Medical Simulation Market

The research report published by Allied Market Report states that the global medical simulation market is estimated to reach $3,190.2 million by 2027. The report provides an in-depth analysis of growth factors, opportunities, market trends, key segments, and competitive landscape. Current market conditions and the future scenario of various regions have been analyzed in the report to help market players in devising expansion strategies. Moreover, it includes country-wise analysis of each region. Product portfolio and business segments of leading market players outline the competitive scenario. The report provides insights to help investors, stakeholders, and new entrants to determine potential opportunities and tap on them to gain competitive advantage.

By product & service, the model-based simulation segment held more than half of the global medical simulation market share in 2017.

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Medical simulation is a training method in which healthcare professionals practice tasks and processes in real life circumstances using virtual reality or simulation models. It is considered as the modern-day methodology for training healthcare professionals using advanced educational technology. Medical simulation is also often called as healthcare simulation, simulation in healthcare, and patient simulation.

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 medical simulation market trend. However, the high cost of installation and other related expenditures are expected to impede the medical simulation market growth. Further, the performance of clinicians, especially improving patient safety outcomes, has improved in the recent years with the use of simulation techniques. These factors are expected to boost the growth of the market in the near future.

By product & service, the patient simulators segment generated the maximum revenue in 2019, accounting for more than one-fourth share of the global medical simulation market. Surgical simulation segment is expected to witness the highest CAGR during the forecast period, owing to increase in the number of cardiac, arthroscopic, and gynecological procedures.

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By fidelity, the low-fidelity simulators segment dominated the market in 2019 with $671.29 million. High-fidelity segment is expected to witness highest CAGR of 15.3% during the forecast period.

Based on end user, the hospitals segment dominated the market in 2019 with $761.41. Academic institutions segment is expected to witness highest CAGR of 15.3% during the forecast period.

North America accounted for the largest share in the global medical simulation market. Asia-Pacific is expected to witness highest growth rate for throughout the forecast period.

The Major Key Players Are:

• 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.

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Contact:

David Correa
Portland, OR, United States
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help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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