Global Medical Simulation Market By Overview
Introduction:
Medical simulation is a methodology used to train medical professionals and undergraduates with the help of advanced technologies. Simulation is a workflow of a real-world process with the purpose to enable learning. Medical simulation offers various potential strategies for practical and comprehensive training. The global medical simulation market accounted for US$ 1.89 billion in 2020 and is estimated to be US$ 8.84 billion by 2030 and is anticipated to register a CAGR of 16.9%.
Global Medical Simulation Market By Dynamics
Increasing modern healthcare
Increasing preference of modern way of training healthcare professionals by using advanced technology and growing awareness regarding patient safety are major factors driving the global medical simulation market growth. Simulation is a substitute to an actual patient, and it helps to improve skills of trainee and undergraduate through purposeful and systematic practice rather than the intern style of learning. Additionally, growing ethical sensitivity about individuals used as subjects for training and growing simulation training linked with newly developed robot-assisted surgeries are other factors projected to propel the growth of the target market over the forecast period. Furthermore, the practitioner can learn various skills with the help of simulation training such as the ability to prioritize tasks under pressure, team-coordination, and stress management is another factor projected to fuel the growth of the medical simulation market in the coming years. However, the high cost of simulation is a major factor hampering the growth of the target market. Nevertheless, advancement in technology such as 3D simulation for medical training is expected to present lucrative growth opportunities in terms of revenue to players operating in the global market over the forecast period. For instance, The METIman simulator is one of the most realistic and advanced simulators in current times, launched by CAE simulators. The primary benefits of this simulator are that it can withstand indoor and outside training simulations and has a large variety of training in many areas. METIman’s easy-to-use learning applications are designed for teaching primary nursing and pre-hospital skills.
Global Medical Simulation Market By Segmentation
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.
The global medical simulation market is segmented based on product and services, technology, end-user, and region.
Based on product and services, the global medical simulation market is segmented into products (interventional/surgical simulators (laparoscopic surgical simulators, gynaecology surgical simulators, cardiac surgical simulators, arthroscopic surgical simulators, and others), task trainers, and others) and services & software (web-based simulation, medical simulation software, simulation training services, and others). Based on technology, the target market is bifurcated into high-fidelity simulators, medium-fidelity simulators, and low-fidelity simulators. Based on end-user, the global market is segmented into academic & research institutes and hospitals.
Regional Insights:
The global medical simulation market accounted for US$ 1.89 billion in 2020 and is estimated to be US$ 8.84 billion by 2030 and is anticipated to register a CAGR of 16.9%. On the region, the global medical simulation market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market is anticipated to dominate in the global medical simulation market with highest market share when compared to other regional markets and is projected to continue its dominance over the forecast period. This can be attributed to the growing adoption of simulation technologies by hospitals, increasing government expenditure on the healthcare sector, clinics, and educational institutes, and occurrence of protruding market players operating in this region. The global market in Europe estimates for second-highest revenue share followed by markets in the Asia Pacific, Middle East & Africa and Latin America respectively. The Asia Pacific market is projected to register the fastest growth in terms of revenue, due to rising focus on medical education, training & research, and growing focus on patient safety in emerging economies in this region.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2030 |
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Market Segmentation |
By Product and Services- Products (Interventional/Surgical Simulators (Laparoscopic Surgical Simulators, Gynecology Surgical Simulators, Cardiac Surgical Simulators, Arthroscopic Surgical Simulators, and Others), Task Trainers, and Others) and Services & Software (Web-Based Simulation, Medical Simulation Software, Simulation Training Services, and Others) By Technology– High-Fidelity Simulators, Medium-Fidelity Simulators, and Low-Fidelity Simulators By End-user– Academic & Research Institutes and Hospitals |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global medical simulation market report based on product and service , technology, End-user, and region.
Global Medical Simulation Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Medical Simulation Market By Key Players
The key players operating the global medical simulation market include 3D Systems, Canadian Aviation Electronics (CAE), Kyoto Kagaku Co. Ltd., Gaumard Scientific Company Inc., Laerdal Medical, Limbs & Things Ltd., Mentice AB, Simulab Corporation, Simulaids Inc., and Nasco. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the products to gain a competitive edge in the target market. For instance, In January 2018, CAE Healthcare declared the release of CAE LucinaAR with Microsoft HoloLens, the world's first augmented reality childbirth simulator with integrated mother-baby physiology.
Global Medical Simulation Market By Company Profile
- 3D Systems
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Canadian Aviation Electronics (CAE)
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Kyoto Kagaku Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Gaumard Scientific Company Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Laerdal Medical
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Limbs & Things Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Mentice AB
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Simulab Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Simulaids Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Nasco
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Medical Simulation Market By Table of Contents
Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Medical Simulation Strategies
- Key Questions this Study will Answer
- Market Snippet, By Products and Services
- Market Snippet, By Technology
- Market Snippet, By End-user
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Medical Simulation Market, By Products and Services, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Products
- Overview
- Market Medical Simulation and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Interventional/Surgical Simulators
- Laparoscopic Surgical Simulators
- Gynecology Surgical Simulators
- Cardiac Surgical Simulators
- Arthroscopic Surgical Simulators
- Others
- Task Trainers
- Others
- Interventional/Surgical Simulators
- Services & Software
- Overview
- Market Medical Simulation and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Web-Based Simulation
- Medical Simulation Software
- Simulation Training Services
- Others
- Overview
- Global Medical Simulation Market, By Technology, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- High-Fidelity Simulators
- Overview
- Market Medical Simulation and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Medium-Fidelity Simulators
- Overview
- Market Medical Simulation and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Low-Fidelity Simulators
- Overview
- Market Medical Simulation and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Medical Simulation Market, By End-user, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Academic & Research Institutes
- Overview
- Market Medical Simulation and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Hospitals
- Overview
- Market Medical Simulation and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Medical Simulation Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Medical Simulation and Forecast (US$ Mn), By Products and Services, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By Technology, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By End-user, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Medical Simulation and Forecast (US$ Mn), By Products and Services, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By Technology, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By End-user, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By Country, 2020 – 2030
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Medical Simulation and Forecast (US$ Mn), By Products and Services, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By Technology, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By End-user, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By Country, 2020 – 2030
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Medical Simulation and Forecast (US$ Mn), By Products and Services, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By Technology, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By End-user, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Medical Simulation and Forecast (US$ Mn), By Products and Services, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By Technology, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By End-user, 2020 – 2030
- Market Medical Simulation and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- 3D Systems
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Canadian Aviation Electronics (CAE)
- Kyoto Kagaku Co. Ltd.
- Gaumard Scientific Company Inc.
- Laerdal Medical
- Limbs & Things Ltd.
- Mentice AB
- Simulab Corporation
- Simulaids Inc.
- Nasco
- 3D Systems
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- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global medical simulation market is segmented based on product and service, technology, end-user, and region.
Increasing preference of modern way of training healthcare professionals by using advanced technology and growing awareness regarding patient safety are major factors driving the global medical simulation market growth
North America market is anticipated to dominate in the global medical simulation market with highest market share when compared to other regional markets and is projected to continue its dominance over the forecast period.
The key players operating the global medical simulation market include 3D Systems, Canadian Aviation Electronics (CAE), Kyoto Kagaku Co. Ltd., Gaumard Scientific Company Inc., Laerdal Medical, Limbs & Things Ltd., Mentice AB, Simulab Corporation, Simulaids Inc., and Nasco.