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Medical simulation market to hit 14.9% CAGR according to market forecasts

Industrial Market Research

Medical simulations market is expected to reach USD 2,575.4 Million by 2022 from USD 1.120.8 Million in 2016, at a CAGR of 14.9% forecast period (2017–2022). Medical simulation is advanced methodology for training healthcare professionals through use of advanced educational technology. Simulation-based medical education is defined as any educational activity that utilizes simulation aides to replicate clinical scenarios.

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Report analyzes Medical Simulation Market by product and service, end user, and region. On the basis of product and services, anatomical models segment accounted for largest share of global medical simulations market in 2016.

Large share of this segment is due to high adoption of high fidelity (degree of realism) products, increasing primary care services, and shortage of healthcare professionals.

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Medical Simulation Market, By Product & Service

1 Introduction

2 Anatomical Models

3 Patient Simulators

4 Task Trainers

5 Interventional/Surgical Simulators

6 Laparoscopic Surgical Simulators

7 Gynecology Surgical Simulators

8 Cardiac Surgical Simulators

9 Arthroscopic Surgical Simulators

10 Endovascular Simulators

11 Ultrasound Simulators

12 Dental Simulators

13 Eye Simulators

14 Web-Based Simulation

15 Simulation Training Services

Medical simulation market is segmented into anatomical models, medical simulation software, web-based simulation, & simulation training services. Web-based simulation segment expected to register highest CAGR during forecast period.

High growth in this segment can be attributed to growing IT infrastructure in educational institutions, widespread availability of internet services, lack of adequate number of educators, rising demand for competency assessment, & controlled access to simulation procedures.

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Geographically, medical simulation market is segmented into North America, Europe, Asia Pacific, and Rest of the World. In 2016, North America accounted for largest share of medical simulations market, followed by Europe & Asia Pacific.

Ease of accessibility to technologies, well-established distribution channels, & rising number of healthcare professionals demanding hands on patient training are major factors driving growth of medical simulations market in North America.

Competitive Landscape and Target Audience:

  • Academic medical centres
  • Government research organizations
  • Hospitals and clinics
  • Military
  • Research and consulting firms
  • Simulation training service providers
  • Medical devices companies
  • Regulatory bodies
  • Insurers
  • Credentialing organizations
  • Professional societies

Top players included in medical simulation market are CAE (Canada), Laerdal Medical (Norway), 3D Systems (US), Simulab Corporation (US), Simulaids (US), Limbs & Things (US), Kyoto Kagaku (Japan), Mentice (Sweden), Medaphor (UK), and Gaumard Scientific Company (US).

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The shortage of healthcare personnel, technological advancements, and growing awareness for simulation education in emerging countries are expected to provide further growth opportunities for players operating in the medical simulation market.

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However, budgetary constraints, high cost of simulators, and operational challenges are some of the factors limiting the growth of this market during the forecast period.

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