Global Medical Simulation/ Healthcare Simulation Market reaching $2.27 billion at CAGR of 15.2% from 2016 to 2021. Report provides Medical Simulation Market Size, Share, key players, Statistics, Demand and Opportunities Forecast to 2021. The global Medical Simulation market is growing at a CAGR of 15.2% during the forecast period (2016 to 2021).
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Medical Simulation Company analysed in report are 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.
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The growth in this market is mainly attributed to increasing focus on training of medical practitioners, rising healthcare costs, growing focus on patient safety, consolidation of the manufacturers, and rising demand for minimally invasive technologies. Several manufacturers in the medical simulation industry are increasingly adopting the multidisciplinary approach in their simulation systems to ensure patient safety, effective surgery outcomes, and reduce healthcare costs.
Such a trend is expected to promote greater uptake of technologically advanced medical simulation systems in the global medical industry.
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The global healthcare/medical simulation market in this report is segmented by products and services, end users, and regions. In 2015, the medical simulation anatomical models segment accounted for the largest share of the global healthcare/medical simulation market, by product & services.
The large share of this segment can primarily be attributed to the rising adoption of simulation based learning in medical/nursing schools, increasing healthcare infrastructure, rising number of minimally adhesive surgeries and innovations in patient simulators. The academic institutes segment accounted for the largest share of healthcare/medical simulation market, by end user.
This large share for academic institutes is due to increasing awareness of patient safety, focus on minimizing medical errors, and the rising number of medical school enrollees. In addition, the rising educational grants and the improvement of healthcare infrastructure are expected to support the growth of this segment.
Geographically, North America is the major market for medical simulation, accounting for around half of the global market share, followed by Europe and Asia-Pacific. However, Asia-Pacific and Latin America possess lucrative growth potential for the medical simulation market during the forecast period.
This is mainly attributed to the extensive customer base in these regions due to large base of aging population and rising prevalence of various disorders. Most of the medical simulation products and services in these regions will be driven by developing countries such as India, China, South Korea, Singapore, Brazil, and Mexico.
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- Medical Simulation Product Manufacturers
- Academic Institutes
- Hospitals and Clinics
- Military Organizations
- Research and Development (R&D) Companies
- Market Research and Consulting Firms
- Venture Capitalists and Investors
Objectives of the Study
- To define, describe, and forecast the global medical simulation market on the basis of type, products & services, and end user
- To provide detailed information regarding major factors influencing the growth market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets1 with respect to the individual growth trends, future prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World, along with major countries in these regions
- To strategically profile the key players and comprehensively analyze their market shares and core competencies in the medical simulation market
- To track and analyze competitive developments such as partnerships, agreements, collaborations, alliances, mergers and acquisitions, new product developments, geographical expansions, and research and development activities in the global medical simulation market