Surgical Simulation Market Share Analysis, Growth Forecast
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Technological innovations in simulators, rising demand for minimally invasive treatments, increasing focus on the safety of patient and increasing healthcare spending are some of the drivers supporting the growth of surgical simulation market.
According to the Centers for Disease Control and Prevention (CDC), total national health expenditure in the U.S. was $3.0 trillion in 2014, and per capita national health expenditure was $9,523. According to the U.K. Office for National Statistics (ONS), the U.K.’s total healthcare expenditure was $297.8 billion in 2014.
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However, limited availability of funds is a key factor restraining the growth of this market, since these simulators require high technology and networking system, in order to teach medical student and surgeons.
North America accounted for the largest share of the surgical simulation market, followed by Europe, Asia-Pacific, and rest of the world, in 2016. Growth in the developed markets in North America and Europe is mainly attributable to the adoption and development of innovative products and the presence of major companies in these regions, which improves the accessibility of healthcare simulation products and services. Whereas in case of Asia-Pacific and Latin America markets, the demand is primarily driven by the growth in the overall surgical simulation industry. With the rapid rise in the number of patients undergoing various complex surgeries as well as the increasing number of hospitals, there will be an ongoing increase in the demand for surgical simulation products in these developing regions to train medical practitioners and students.
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Major key players in the surgical simulation market include Laerdal Medical, 3D Systems Inc., Gaumard Scientific, Limbs & Things Ltd., Kyoto Kagaku Co. Ltd, Mentice AB, Simulab Corporation, Surgical Science Sweden AB, Simulaids Inc.
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