The global healthcare/medical simulation market size is expected to grow from $2.57 billion in 2021 to $2.98 billion in 2022 at a compound annual growth rate (CAGR) of 16.04%. The change in the healthcare or medical simulation market growth trend is mainly due to companies' stabilising their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market is expected to reach $5.39 billion in 2026 at a CAGR of 15.99%.
What is the Global Healthcare/Medical Simulation Market?
The healthcare/medical simulation market consists of sales of simulation devices and services by entities (organizations, partnerships, and sole proprietors) for the purpose of educating and training healthcare professionals. Healthcare and medical simulation allows medical professionals to practise tasks in realistic settings by means of tools and models prior to working in real-world scenarios and offers opportunities to increase patient safety, reduce healthcare costs, and improve learners’ competence and confidence.
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What drives the Global Healthcare/Medical Simulation Market?
The demand for minimally invasive surgical procedures globally has contributed to the growth of the healthcare/medical simulation market. Minimally invasive surgery (MIS) involves small surgical incisions to gain access to the body and its organs, which results in less injury and damage to the patient. Medical simulation techniques are used to train the skills necessary for MIS, which allows professionals to perform surgical and interventional procedures without risk to real patients. According to the estimates from a report by Raynetta Stansil (Clinical Educator) published in August 2019, American hospitals could prevent thousands of post-surgical complications and save between $280 million and $340 million every year by using MIS instead of open surgery. This increased demand is spurred by the low cost and better outcomes compared to traditional surgeries.
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Global Healthcare/Medical Simulation Market Segments
The global healthcare/medical simulation market is segmented:
By Product and Service: Healthcare Anatomical Models, Web-Based Simulation, Healthcare Simulation Software, Simulation Training Services
By End-User: Academic Institutes, Hospitals, Military Organizations
By Technology: High-Fidelity Simulators, Medium-Fidelity Simulators, Low-Fidelity Simulators
By Geography: The regions covered in the healthcare/medical simulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Healthcare/Medical Simulation Global Market Report 2022provides market size and growth forecasts for the global healthcare/medical simulation market, global healthcare/medical simulation market share, healthcare/medical simulation market segments and geographies, healthcare/medical simulation market competitive landscape including leading competitors’ revenues, profiles and market shares. The healthcare/medical simulation market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Healthcare/Medical Simulation Industry Playersinclude 3B Scientific, 3D Systems, CAE, Inc, 3DMed, Kyoto Kagaku Co., Ltd, Altay Scientific, Limbs & Things Ltd, Surgical Science, Intelligent Ultrasound Group Plc, Mentice AB, IngMar Medical, Simulab Corporation, Simulaids, Inc., VirtaMed AG, KaVo Dental GmbH, Simendo, Cardionics, Epona, HRV Simulation, Inovus Medical, Tellyes Scientific Co., Ltd., Symgery, Synaptive Medical, and VRMagic Holding AG. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
