(EMAILWIRE.COM, December 28, 2018 ) The global medical simulation market is projected to reach USD 2.27 Billion by 2021, at a CAGR of 15.2% from 2016 to 2021. The market growth can be attributed to a number of factors such as increasing healthcare costs, rising focus on patient safety, and technological advancements.
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Medical simulation market anatomical models are further segmented into 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.
Medical simulation, is the modern day methodology for training healthcare professionals through the use of advanced educational technology. Simply put, medical simulation is the experiential learning every healthcare professional will need, but cannot always engage in during real-life patient care.
Target Audience:
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
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The global medical simulation market is segmented based on product & services, fidelity, end user, and region. Based on product & service, it is divided into model-based simulation, web-based simulation, and simulation training services. Model-based simulation is further classified into patient simulation, surgical simulation, and ultrasound simulation. Patient simulation is segmented further into task trainers, manikin-based simulators, and standardized patient simulators.
Key medical simulation market players 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. (U.S.).
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.
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North America was the major market for medical simulation products and services, followed by Europe and Asia-Pacific. The highest market share of North America and European regions is primarily attributed to the presence and expansion of major medical simulation companies through acquisitions which has improved the accessibility of medical simulation products and services in this region.
However, the future growth of the medical simulation market will be driven by the Asia-Pacific and Latin American regions. The end users of the industry are broadly divided into academic institutions & research centers, hospitals & clinics, and military organizations. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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