$3.61 Billion Medical Simulation Market Outlook, 2020-2025 - Growing Demand for Virtual Training due to the COVID-19 Pandemic

DUBLIN, June 2, 2020 /PRNewswire/ -- The "Healthcare/Medical Simulation Market by Product & Services (Patient Simulator, Task Trainer, Surgical Simulator (Laparoscopy, Arthroscopy), Dental Simulator, Eye Simulator, Ultrasound Simulator, Simulation Software), End User - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

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The global medical simulation market is projected to reach USD 3,617 million by 2025 from USD 1,828.5 million in 2020, at a CAGR of 14.6% during the forecast period.

This report analyzes the various medical simulation companies and their adoption patterns in the market. It aims at estimating the market size and future growth potential of the global medical simulation market for different segments such as product, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, service offerings, recent developments, and key market strategies.

The medical simulation market is projected to grow at a CAGR of 14.6% between 2020 and 2025.

The limited access to live patients during training, advancements in medical education, increasing demand for minimally invasive treatments, increasing focus on patient safety, and growing demand for virtual training due to current COVID-19 pandemic are the major factors driving the growth of the medical simulation industry. Moreover, factors such as increasing awareness about simulation education in emerging countries and shortage of healthcare personnel are creating lucrative opportunities for the market players.

Laparoscopic surgical simulators segment to have the largest share during the forecast period.

Laparoscopic surgical simulators accounted for the largest share of the interventional/surgical simulators market in 2019. The high adoption of simulation techniques in laparoscopy and technological innovations are responsible for the large percentage of this segment during the forecast period.

Academic institutes segment to grow at the highest CAGR from 2020 to 2025.

Based on end-user, the medical simulation market is segmented into academic institutes, military organizations, hospitals, and others. In 2019, the academic institute segment accounted for the largest share of the market in 2019, followed by hospitals and military organizations. Factors responsible for the growth of this segment are the gradual shift of focus away from traditional learning, the advent of advanced simulation-based technologies, full utilization of simulation models in medical surgeries, increasing focus on minimizing errors, and cost-effectiveness of procedural training for medical physicians.

APAC to witness the highest growth rate during the forecast period.

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven by the increasing focus on medical education, training, & research, and the growing emphasis on patient safety and increasing healthcare expenditure.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Medical Simulation Market Overview
4.2 Asia-Pacific: Medical Simulation Market, by Products & Services and Country (2019)
4.3 Medical Simulation Market: Geographic Growth Opportunities
4.4 Regional Mix: Medical Simulation Market
4.5 Medical Simulation Market: Developing Vs. Developed Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Market Drivers
5.2.1.1 Limited Access to Live Patients During Training
5.2.1.2 Advancements in Medical Education
5.2.1.3 Growing Demand for Minimally Invasive Treatments
5.2.1.4 Increasing Focus on Patient Safety
5.2.1.5 Increasing Demand for Virtual Training Due to the Current Covid-19 Pandemic
5.2.2 Restraints
5.2.2.1 Limited Availability of Funds
5.2.2.2 Incomplete Mimicking of the Medical Simulators
5.2.3 Opportunities
5.2.3.1 Shortage of Healthcare Personnel
5.2.3.2 Growing Awareness Regarding Simulation Education in Emerging Countries
5.2.4 Challenges
5.2.4.1 High Cost of Simulators
5.2.4.2 Operational Challenges

6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Use of Virtual Reality (Vr) and Augmented Reality (Ar) in Medical Simulation
6.2.2 Race Towards Top Fidelity
6.2.3 Use of Multidisciplinary Approach in the Development of Simulators
6.2.4 Artificial Intelligence Used in Surgery Backed Up With Software
6.2.5 Hcit/Emr

7 Global Medical Simulation Market, by Products & Services
7.1 Introduction
7.2 Medical Simulation Anatomical Models
7.2.1 Patient Simulators
7.2.1.1 High Fidelity Simulators
7.2.1.1.1 Growing Adoption of High Fidelity Simulators in Education and Training of Healthcare Professionals
7.2.1.2 Medium Fidelity Simulators
7.2.1.2.1 High Adoption of Medium Fidelity Simulation as Compared to High Fidelity Simulation Owing to Cost Benefits
7.2.1.3 Low Fidelity Simulators
7.2.1.3.1 Growing Adoption of Simulation Trainings, Budgetary Constraints, and Ease of Use Are the Factors Responsible for the Growth of the Segment
7.2.2 Task Trainers
7.2.2.1 Inability of Task Trainers to Imitate the Emotional Attributes of Patients is Expected to Hamper the Growth of the Segment to An Extent
7.2.3 Interventional/Surgical Simulators
7.2.3.1 Laparoscopic Surgical Simulators
7.2.3.1.1 Increasing Preference for Minimally Invasive Surgeries to Drive the Growth of this Segment
7.2.3.2 Gynecology Simulators
7.2.3.2.1 Increasing Incidence of Diseases Such as Fibroids and Polyps in Women Has Fueled the Growth of the Segment
7.2.3.3 Cardiovascular Simulators
7.2.3.3.1 Increasing Prevalence of Obesity and Diabetes to Boost the Demand for Cardiovascular Simulators
7.2.3.4 Orthopedic Surgical Simulators
7.2.3.4.1 Working Through Small Portals With Delicate and Fragile Instruments Are Major Challenges in this Segment
7.2.3.5 Spine Surgical Simulators
7.2.3.5.1 Increasing Spinal Injuries to Boost the Growth of the Segment
7.2.3.6 Other Interventional/Surgical Simulators
7.2.4 Endovascular Simulators
7.2.4.1 Endovascular Simulators Help in Reducing Mortality Rates and Offer Shorter Recovery Periods for Patients as Compared to Vascular Procedures
7.2.5 Ultrasound Simulators
7.2.5.1 Poor Quality of Image from Low Dynamics, Spatial Resolution, and Signal to Noise Ratio Are Major Challenges in the Growth of the Segment
7.2.6 Dental Simulators
7.2.6.1 Expanding Dental Tourism Industry is Fueling the Demand for Dental Simulators
7.2.7 Eye Simulators
7.2.7.1 Increasing Incidence of Eye Disorders Across the Globe Due to the Rapidly Growing Geriatric Population to Drive the Growth of the Segment
7.3 Web-Based Simulation
7.4 Medical Simulation Software
7.4.1 Performance Recording Software
7.4.1.1 Complexity, Compromised System Integration, and Time Constraints Due to Manual Processes to Restrain the Growth of this Market
7.4.2 Virtual Tutors
7.4.2.1 Virtual Reality Helps to Reduce Human Errors in the Medical Sector
7.5 Simulation Training Services
7.5.1 Vendor-Based Training
7.5.1.1 High Focus on Patient Safety in Actual Clinical Practices to Propel the Growth of the Segment
7.5.2 Educational Societies
7.5.2.1 Need for Proper Training and Authenticated Knowledge is Driving the Growth of this Segment
7.5.3 Custom Consulting Services
7.5.3.1 Need to Curtail the Problems Faced With Traditional Medical Training Systems is Expected to Propel the Growth of the Segment

8 Global Medical Simulation Market, by End-user
8.1 Introduction
8.2 Academic Institutes
8.2.1 Growing Need for Skilled Medical Professionals is Expected to Increase the Use of Medical Simulators in Academic Institutions
8.3 Hospitals
8.3.1 Surging Number of Covid-19 Patients and Rising Focus on Minimizing Errors Are Driving the Growth of the Hospitals Segment
8.4 Military Organizations
8.4.1 Increasing Use of Simulators to Explore New Methods During Warfare Conditions is Expected to Propel the Growth of the Segment
8.5 Other End-users

9 Global Medical Simulation Market, by Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Increasing Demand for Virtual Tutors Due to Current Covid-19 Pandemic and High Healthcare Spending to Boost the Market Growth
9.2.2 Canada
9.2.2.1 Increase in Funding, Surgical Capacity, and Number of Treatment Programs in Some Provinces of Canada, Especially Ontario, to Drive the Growth of the Market
9.3 Europe
9.3.1 Germany
9.3.1.1 High Healthcare Spending to Be the Key Driver for Market Growth in Germany
9.3.2 France
9.3.2.1 Mandate to Provide All Surgical Residents With Simulation Training in France to Boost the Market Growth
9.3.3 UK
9.3.3.1 Increasing Healthcare Expenditure and Rising Number of Healthcare Simulation Centers and Hospitals Are Fueling the Growth of the Medical Simulation Market in the UK
9.3.4 Italy
9.3.4.1 Growing Burden of Several Diseases and Shortage of Healthcare Workforce Are Expected to Increase the Demand for Simulation-Based Training
9.3.5 Spain
9.3.5.1 Increasing Surgical Procedures to Boost the Demand for Simulators.
9.3.6 Rest of Europe
9.4 Asia-Pacific
9.4.1 Japan
9.4.1.1 Increasing Demand for Virtual Tutors, Mannequins, and Technologically Advanced Simulators is the Major Reason for the Growth of this Market
9.4.2 China
9.4.2.1 Simulation Training Provides Both Medical Students and Patients a Safe Environment for Practice and Helps Eliminate Errors
9.4.3 India
9.4.3.1 Growing Awareness Regarding Patient Safety Issues Among General Public, and Rising Need to Bridge the Gap Between Requirement and Opportunities for Training
9.4.4 Rest of Asia-Pacific (Roapac)
9.5 Latin America
9.5.1 Brazil
9.5.1.1 High Incidence of Chronic Diseases to Drive the Demand for Medical Simulators
9.5.2 Mexico
9.5.2.1 Disruptive Technologies and Private-Public Partnerships to Boost the Healthcare Sector in the Country
9.5.3 Rest of Latin America
9.6 Middle East & Africa

10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis
10.2.1 Cae (Canada)
10.2.2 3D Systems (US)
10.3 Competitive Leadership Mapping, 2019
10.3.1 Visionary Leaders
10.3.2 Innovators
10.3.3 Emerging Companies
10.3.4 Dynamic Differentiators
10.4 Competitive Situations and Trends
10.4.1 New Product Launch
10.4.2 Partnerships, Agreements, and Collaborations
10.4.3 Acquisitions

11 Company Profiles
11.1 CAE Inc.
11.2 3D Systems
11.3 Laerdal Medical
11.4 Gaumard Scientific Company
11.5 Kyoto Kagaku
11.6 Limbs & Things
11.7 Mentice AB
11.8 Simulab Corporation
11.9 Simulaids
11.10 Intelligent Ultrasound Group plc
11.11 Operative Experience, Inc.
11.12 Surgical Science Sweden AB
11.13 Cardionics Inc.
11.14 Virtamed AG
11.15 Synbone AG
11.16 VRMagic Holding AG
11.17 Ossimtech
11.18 HRV Simulation
11.19 Synaptive Medical
11.20 Inovus Medical

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