Medical Simulation Market Huge Demand in COVID-19: Regional Outlook, Trends, Key Companies Profile, CAGR and Forecast to 2027

The Medical Simulation market report offers a comprehensive analysis of the study of the industry. The report provides the proper segmentation along with all the CAGR values for the forecast period 2020-2027. A wide range of features including the drivers, restraints, and future opportunities are also provided through the report. The report along with it also involves the analyses of rising trends and upcoming challenges in the market. The marketing research report examines the varied segments as well as area units along with predictions for future estimations. The key market players in the industry are outlined, coupled with their strategies & methodologies are systematically examined, which predict the competitive outlook of the XYZ market.

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.

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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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