May 28, 2020 SOURCE: PR NewsWire

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

NEW YORK, May 28, 2020 /PRNewswire/ -- The medical simulation market is projected to grow at a CAGR of 14.6% between 2020 and 2025.

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The global medical simulation market size is expected to reach USD 3.7 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 14.6% from 2020 to 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.

Break of primary participants:
-- By Company Type - Tier 1: 35%, Tier 2-45%, and Tier 3-20%
-- By Designation - C Level: 30%, Director Level: 55%, and Others: 15%
-- By Region - North America: 40%, Europe: 25%, Asia Pacific: 20%, Latin America: 10%, and the Middle East & Africa:5%

Research Coverage:
The 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.

Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a more significant share. Firms purchasing the report could use any one or combination of the below-mentioned strategies for strengthening their market positions.

The report provides insights on the following pointers:
-- Market Penetration: Comprehensive information on the service portfolios offered by the top players in the medical simulation market
-- Service Launch/Innovation: Detailed insights on new service launches in the medical simulation market
-- Market Development: Comprehensive information about lucrative emerging markets, by type, therapeutic area, end user, and region
-- Market Diversification: Exhaustive information about new services, growing geographies, recent developments in the medical simulation market
-- Competitive Assessment: In-depth assessment of growth strategies, services, and manufacturing capabilities of leading players in the medical simulation market

Read the full report: https://www.reportlinker.com/p04169025/?utm_source=PRN

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