Medical Simulation Market by Competitive Analysis 2021 - B-Line Medical LLC., CAE Ltd., 3B Scientific GmbH, Anesoft Corporation

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. The 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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Competitive Landscape

The Medical simulation market, is consolidated and consists of a few major players such as 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 Limbs & Things, Ltd., among others.

The key players are employing strategies such as technical collaboration, capacity expansion, acquisition, and advanced product launches, in-order to gain stronger position in the medical simulation market.

For instance, in January 2019, CAE Healthcare, one of the major players in the global medical simulation market, announced collaboration with a UK-based software company TWME8 to create simulation-based learning scenarios that meet the highest educational standards.

In July 2019, Laerdal Medical, a pioneer manufacturer in medical simulation market, announced the acquisition over B-Line Medical, a leader in simulation debriefing assessment and management; to create premium debriefing, assessment, and training management platform. With this acquisition, Laerdal Medical aims to deliver the highest quality healthcare education, training, and quality improvement programs to the consumers.

In May 2020, iSimulate, one of the major players in the global medical simulation market, launched ‘REALITi Go’ to replace the existing version of Advanced Life Support (ALS). REALITi Go can imitate defibrillators, ventilators, and patient monitors for imparting extremely realistic simulations. Moreover, the generic patient monitor screen simulations designed by iSimulate, sound, look, and work like the real entity. REALITi Go is compact, lightweight, powerful, more flexible, and economic version of simulated patient monitors developed by iSimulate.

In February 2020, 3B Scientific GmbH, one of the major players in the global medical simulation market, inaugurated its new Simulation Training Center for Medical Simulation and Skill Training, in Germany. The well-equipped 500 sqm training center located in the heart of Hamburg city, displays advanced medical simulators, and professional task trainers, that impart basic, advanced, and super specialty skilled medical trainings.

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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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