Healthcare/Medical Simulation Market report categories the Global market by Services, Product (Surgical Simulator, Patient Simulator, Simulation Software, Web-based simulation, Dental Simulator, Eye Simulator), End-User (Hospitals, Academics, Military)& Geography
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The medical simulation market is estimated to grow at a CAGR of 15.2% from 2016 to 2021 to reach USD 2.27 Billion by 2021. This is primarily attributed to the increasing focus on training of medical practitioners, rising healthcare costs, growing focus on patient safety, and rising demand for minimally invasive technologies.
In this report the global medical simulation market is segmented on the basis of products and services, end users and regions. Based on products and services, the market is segmented into medical simulation anatomical models, web-based simulation, simulation software, and simulation training services.
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The anatomical models market accounted for the largest share of the global market in 2015 and covers patient simulators, task trainers, surgical simulators, endovascular simulators, ultrasound simulators, dental simulators, and eye simulators. The surgical simulators market is further segmented as laparoscopic surgical simulators, arthroscopic surgical simulators, cardiovascular simulators, gynecology simulators, and others.
The simulation software segment is further classified into performance recording software and virtual tutors. The simulation training services are classified into vendor-based training services, custom consulting services, and educational societies’ services.
Furthermore, on the basis of end users, the market is classified into academic institutions, hospitals, military organizations, and others.
Geographically, the global medical simulation market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, North America commanded largest share of the market.
Asia-Pacific and Latin America are poised to register highest growth rates in this market mainly attributed to the untapped market potential of these regions and extensive customer base due to rising base of aging population, rising prevalence of various disorders, and demand for surgeries. The market in these two regions will be driven by developing countries such as India, China, South Korea, Singapore, Brazil, and Mexico.
The global medical simulation market is fragmented, with the presence of many small companies which operate in their respective market segments. These small market players operating at regional- and local-levels are challenging the market share of the leading players in this market.
In order to maintain their market shares, leading players in the market are continuously developing new technologies and upgrading their existing products to enhance their product portfolios. The increasing competition is expected to drive innovation in the market, thereby helping the industry to overcome the existing challenges in the field of medical simulation and at the same time address the compliance issues and unmet needs of the market.
Some of the prominent players in the global medical simulation market include CAE, Inc. (Canada), Laerdal Medical AS (Norway), 3D Systems, Inc. (U.S.), Simulab Corporation (U.S.), Simulaids, Inc. (U.S.), Limbs and Things, Ltd (U.K.), Kyoto Kagaku Co., Ltd (Japan), Mentice AB (Sweden), Surgical Science Sweden AB (Sweden), and Gaumard Scientific Company, Inc. (U.S.).
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