Medical Simulation Market Overview and Introduction

The global medical simulation market is estimated to be over US$ 1,400 Mn in 2018.It is anticipated to grow at a CAGR of 14.4% from 2019 to 2030.

Medical simulation is now widely used in education and training in a variety of high risk professions and disciplines, including the military, commercial airlines, nuclear power plants, business and medicine. Simulation based medical education can be defined as any educational activity that utilizes simulative aides to replicate clinical scenarios. A device that facilitates the learner to replicate and perform under experimental conditions that are likely to occur while interacting with the actual patient is called as simulator. Medical simulation plays an important role to reduce risks to patients and learners, helps to improve capability and self-confidence of learners and, reduces medical costs in the future.

The consistent development of the medical simulation market can be attributed to a few factors which have prompted wide scale response of these items which are broadly utilized for expanding center around patient safety. The growth in innovation and technology plays an important role in contributing to the growth of the global medical simulation market. Medical based simulation is a crucial educational training tool, to improve patient’s safety. Simulation offers ethical benefits, medical precision, relevance of training, and competency assessment. It suggests some new methods of coaching error management and safety culture. However, the high cost of the medical simulator is likely to restrain the growth of medical simulation market.

Medical Simulation Market by Product & Services

On the basis of product and services, the medical simulation market is segmented into healthcare anatomical models, web-based simulation, medical simulation software and simulation training services. The healthcare anatomical model holds the largest share of the market due to the high adoption of healthcare anatomical products. The healthcare anatomical model is further classified into patient simulators, task trainers, surgical simulators, ultrasound simulators, endovascular simulators, dental simulators and eye simulators. The surgical simulators are further segmented into laparoscopic surgical simulators, arthroscopic surgical simulators, cardiovascular simulators, gynecology simulators and other interventional simulators. Medical simulation software is also further divided into performance recording software and virtual tutors. Moreover, simulation training services are also categorized as vendor-based training, educational societies and custom consulting services.

Medical Simulation Market by Fidelity

On the basis of fidelity, the market can be segmented into low-fidelity, medium-fidelity and, high-fidelity. End User for the medical simulation market can be segmented into academic institutes, hospitals, and research centers. Academic institutes account for the maximum share of the medical simulation market to improve learners’ competence and confidence.

Medical Simulation Market by Regions

The global medical simulation market can be segmented into North America, Europe, Asia Pacific and, Rest of World (ROW). North America dominated the market of medical simulators followed by Europe and Asia Pacific. Dominant share of North America in the medical simulation market during forecast period attributed to factors such as ease of accessibility to technologies, well established distribution channels, and rising number of healthcare professionals. However, Asia Pacific is to witness the highest CAGR in this market. Factors such as the shortage of healthcare personnel, technological advancements, and growing awareness for simulation education are likely to attract healthcare service providers from different parts of the world.

Major Players in the Medical Simulation Market

The prominent players in the medical simulation market are CAE Inc., 3D Systems Inc., Laerdal Medical AS, Guamard Scientific, Mentice AB, Limbs & Things LTD, Simulaids Inc., Simulab Corporation, Kyoto Kagaku Co. Ltd., Surgical Science Sweden AB.