Medical Simulation Market by Product & Services(Model-Based Simulation, Web-Based Simulation, and Simulation Training Services), Fidelity (Low-Fidelity, Medium-Fidelity, and High-Fidelity), and End User (Academic Institutions & Research Centers, Hosp

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.

Medical simulation aims to impart education and train healthcare professionals to perform general practice, prescription, crisis interventions, surgery, 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 centres.

Market Dynamics and Trends

There has been an upsurge in minimally invasive surgeries over the period, owing to fast and easy patient recovery. This in-turn has increased the demand for explicitly trained healthcare professionals who can carry out various medical practices and surgeries, with reduced errors and higher precision.

Furthermore, factors such as growing concern regarding patient safety, increasing incidences of medical errors, technological advents in medical simulations, as well as increased penetration of animated and web-based simulation, are anticipated to propel the growth of medical simulation market throughout the forecast period.

However, high cost of the products, software, and set-ups; along with high unmet needs, and compliance issues are expected to limit the growth of the medical simulation market.

Market Segmentations and Scope of the Study:
The global medical simulation market share has been analyzed based on product, services & software, technology, end users, and geography.

Based on product, the market is segmented into surgical & interventional simulators, task trainers and others. The surgical & interventional simulators segment is sub segmented into laparoscopic surgical simulators, gynecology surgical simulators, cardiac surgical simulators, arthroscopic surgical simulators, and others. The service & software segment are divided into web-based simulation, medical simulation software, simulation training services, and others. Based on technology, the market is divided into high-fidelity simulators, medium-fidelity simulators, and low-fidelity simulators. Based on end users, the market is categorized into academic institutes and research centers, hospitals & clinics, and military organizations. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis
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.

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.

KEY MARKET SEGMENTS:

Global Medical Simulation market – By Product and Service
Model Based Simulation
Patient Simulation
Surgical Simulation
Ultrasound Simulation
Web Based Simulation
Simulation Training Services
Global Medical Simulation market – By Fidelity
High Fidelity
Medium Fidelity
Low Fidelity
Global Medical Simulation market –By End Users
Academic Institutes
Hospitals
Military Organizations
Global Medical Simulation market –By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
RoW
Saudi Arabia
South Africa
Brazil
Remaining countries