Press release
Global Medical Simulation Market Is Expected To Grow Steadily At CAGR Of 16.5% In The Forecast Period Of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 1.6 Billion
Forecast CAGR (2021-2026): 16.5%
Forecast Market Size (2026): USD 4.0 Billion
The global medical simulation market is growing due to advancements in surgical tools and technology, as well as a growing desire for minimally invasive surgical procedures. These procedures promote patient compliance by reducing the length of stay in the hospital and the amount of time required to cure the invasion during surgery.
Medical Simulation Industry Definition and Major Segments
Medical simulation, or more broadly, healthcare simulation, is a simulation branch associated with medical education and training in a variety of industries. Simulations can be done in a classroom, in a situational context, or in a venue constructed expressly for simulation.
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Based on product and services, the market covers:
Anatomical Models
Patient Simulators
High-Fidelity Simulators
Medium-Fidelity Simulators
Low-Fidelity Simulators
Task Trainers
Interventional/Surgical Simulators
Laparoscopic Surgical Simulators
Gynaecology Surgical Simulators
Cardiac Surgical Simulators
Arthroscopic Surgical Simulators
Other Interventional/Surgical Simulators
Endovascular Simulators
Ultrasound Simulators
Dental Simulators
Eye Simulators
Web-Based Simulation
Medical Simulation Software
Performance Recording Software
Virtual Tutors
Simulation Training Services CEV
Vendor-Based Training
Educational Societies
Custom Consulting and Training Services
Based on end use, the market is categorized into:
Academic Institutes
Hospitals
Military Organizations
Others
The major regional markets include:
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Medical Simulation Market Trends
Growing technology advancements, increased need for minimally invasive treatment techniques, and a growing focus on patient safety are just a few of the primary reasons propelling the worldwide medical simulation market forward. Various simulation modalities are utilized to teach and train the method for performing minimally invasive procedures.
Various animal models, virtual reality, and video trainers can also be utilized to simulate minimally invasive treatments. As a result, the medical simulation industry is growing due to increased demand for minimally invasive surgical procedures. Because of the growing importance of various health applications, medical visualization, surgical robots, and preventive drugs, sophisticated healthcare simulation techniques have become more widely used. This is anticipated to accelerate market expansion.
The high cost of simulators, restricted investment in simulation systems, and operational issues are all important limitations that could stifle the medical simulation market's growth in the future.
Key Market Players
The major players in the market are 3D Systems, CAE Inc, Simulaids Inc, Simulab Corporation, Kyoto Kagaku, Limbs & Things, Mentice, Laerdal, Gaumard Scientific Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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