Surgical Simulation Market is projected to reach a Revenue of US$ 3.1 Bn at a CAGR of over 26.3% during 2022 - 2032

The global surgical simulation market is witnessing significant growth due to the increasing demand for minimally invasive surgical procedures, rising investments in healthcare infrastructure, and the adoption of advanced technologies in surgical education. Surgical simulation is a medical training technique that involves the use of virtual or physical models to simulate surgical scenarios for training and practice purposes. The market for surgical simulation is witnessing substantial growth due to the increasing demand for better surgical outcomes, reduced healthcare costs, and improved patient safety.

Surgical Simulation Market analysis report by Persistence Market Research shows that global sales of Surgical Simulation Market in 2021 was held at US$ 304.1 Mn. With 24.1% CAGR, the market is projected to reach a valuation of US$ 3.1 Bn by 2032. Market revenue through polymer is expected to be the highest and is projected to grow at a CAGR of over 26.3% during 2022 - 2032.

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The application of surgical simulation is widespread across various surgical specialties such as cardiology, gastroenterology, neurology, and urology. The market for surgical simulation is primarily driven by the increasing demand for minimally invasive surgical procedures, which require highly specialized skills and expertise. Moreover, the expanding geriatric population and rising prevalence of chronic diseases are also contributing to the growth of the market. The surgical simulation is used by medical students, residents, and experienced surgeons to improve their skills and enhance patient outcomes.

Companies

Materialise
Stratasys Ltd
Canadian Aviation Electronics Ltd
Surgical Science
Mentice
Gaumard Scientific
VirtaMed AG
Osteo3d
Simulab Corp.
3-Dmed
Laerdal Medical
3D Systems, Inc.
Axial3D
Formlabs

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North America dominates the global surgical simulation market due to the presence of well-established healthcare infrastructure, increasing demand for minimally invasive surgical procedures, and the adoption of advanced technologies. The Asia-Pacific region is expected to witness the highest growth rate in the coming years, primarily due to the rising healthcare expenditure, increasing awareness about surgical simulation, and growing demand for minimally invasive procedures. The market players are also targeting the emerging markets in the Asia-Pacific region to expand their customer base and increase their market share.

The surgical simulation market is highly competitive, with a large number of players operating in the market. The key players in the market are focusing on product launches, partnerships, collaborations, and acquisitions to strengthen their position in the market. For instance, in 2021, CAE Healthcare launched a new surgical simulation platform, CAE Ares, which provides realistic surgical scenarios for training and practice purposes. In another instance, in 2020, Simbionix USA Corporation acquired 3D Systems' Simbionix division, which specializes in surgical simulation and virtual reality training.

Competitive Analysis

Some of the key players in the Surgical Simulation Market include Materialise, Stratasys Ltd, Canadian Aviation Electronics Ltd, Surgical Science, Mentice, Gaumard Scientific, VirtaMed AG, and Osteo3d.

Some of the recent developments of key Surgical Simulation service providers are as follows:

In November 2021, Materialise decided to exercise its option to purchase Link3D Inc., a provider of additive workflow and digital manufacturing software that helps clients in the automotive, aerospace, and defense industries grow and integrate their AM operations across complicated supply chains and IT environments. The deal, which was subject to the usual requirements for this type of transaction, was completed in January 2022. Materialise paid US$ 33.5 Million for 100% ownership stake in Link3D.
In January 2021, Stratasys Ltd announced the completion of its acquisition of Origin, which will take effect on December 31, 2020. Origin's software-centric additive manufacturing system, which delivers printing technology associated with digital light processing for production-oriented polymer applications, has been acquired.
In July 2021, Surgical Science entered into a conditional agreement to acquire all outstanding shares of Simbionix USA Corp., which uses simulation to train surgeons and other medical specialists in a variety of areas, including robotic surgery. The deal was carried out in cash and debt-free consideration of US$ 305 million.

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Market Segments Covered in Surgical Simulation Market Analysis

By Material Type

Polymer
Plastic
Other Polymers
Metal

By Speciality

Orthopedic Surgery
Cardiac Surgery/Interventional Cardiology
Gastroenterology
Neurosurgery
Reconstructive Surgery
Oncology Surgery
Transplants
Other Specialties

By End-use

Hospitals
Specialty Centers
Other End-uses

By Region

North America
Latin America
Europe
APAC
MEA

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