Global Medical Simulation Market was valued at USD 2.43 Billion in 2021 and is projected to reach USD 6.83 Billion by 2028, growing at a CAGR of 15.90%.
Medical simulation, also known as healthcare simulation, nursing simulation, patient simulation, and surgical simulation, is the branch of simulation that provides educational training related to the medical field of various industries. It is the creation of a real situation for health care providers to learn, practice and improve their various skills in the medical field in a safe environment. Medical simulation includes artificial human patients, simulated human patients, teaching materials with detailed simulated animation, and holographic simulation to aid virtual healthcare operations. Medical simulation is widely used in the healthcare sectors, which is driving the growth of the market.
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Medical simulation has a wide range of applications in the medical field as it provides training that helps medical students gain knowledge and confidence and also helps in becoming medical expertise to improve patient care. There are various simulations available in the market that provide consistent and repeatable training. Medical simulation is a well-known application for providing training in difficult and dangerous scenarios. Thus, it is used in hospitals, academic institutes, military organizations, and researchers which ensure the growth of the market. Additionally, in recent years, an increasing number of healthcare sectors are fueling the growth of the medical simulation market.
The use of various advanced techniques in medical simulation provides a lucrative opportunity for the medical simulation market. Virtual reality and augmented reality are advanced with more popular techniques. Virtual reality helps distance students in performing surgeries and other processes. In the medical field, the increasing installation of new technologies such as cardiac assist devices, intracardiac echocardiography and mechanical ventilation requires advanced training solutions such as simulation for training purposes. This can offer a remunerative opportunity for the medical simulation market during the forecast period.
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Simulation market now:
According to products and services: healthcare anatomical models segment is expected to dominate the medical simulation market during the projected period. Anatomical models help surgeons plan and practice operations. Heart and brain surgeries have been a vital challenge for surgeons due to the complex nature of these surgeries and the need for highly trained professionals. Thus, anatomical models can be used to promote patient safety in these complex operative procedures. The healthcare anatomical models can be used to simulate ultrasound, dental, endovascular, and ocular operations and to teach ordinary individuals CPR techniques, thereby supporting the growth of the healthcare anatomical models segment.
Based on end users: academic institute segment is expected to dominate the medical simulation market over the forecast period. The increased awareness of patient safety and the training of the best healthcare professionals is prompting academic institutes to adopt medical simulation methods. Additionally, to support the development of academic institutes, there has been an increase in funding from the government as well as private entities.
Based on fidelity: The high fidelity segment is expected to have the highest CAGR over the analysis period. High fidelity simulation used in healthcare teaching methodology involves the use of sophisticated realistic mannequins in realistic patient environments. These high fidelity simulators are similar to human anatomy and physiology. High-fidelity manikins can perform functions characterized by humans, such as chest expansion for breathing, palpable pulses, variable heart rates and tones, and measurable blood pressure.
• Healthcare anatomical models
• Web Simulators
• Healthcare simulation software
• Simulation training services
Per end user
• University institutes
• Military organization
• To research
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Regional Analysis For Medical Simulation Market:
The North American region is expected to have the highest share of the medical simulation market over the forecast period owing to the presence of prominent service providers and high adoption rate of emerging technologies. Moreover, to improve patient safety, medical simulation is widely used by institutes and hospitals to raise the level of teaching methods.
• North America (United States, Canada, Mexico)
• Europe (Germany, UK, France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
• Middle East and Africa (GCC countries, South Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South America)
Major key players considered in the market
• 3D Systems (USA)
• CAE (Canada)
• 3B Scientific (Germany)
• Gaumard Scientific Company (United States)
• Kyoto Kagaku (Japan)
• Laerdal Medical (Norway)
• Limbs & Things (UK)
• IP Group plc (United Kingdom)
• Mentice AB (USA)
• Operational Experience Inc. (USA)
• Simulab Corporation (USA)
• Simulaids (UK)
• SynBone AG (Switzerland)
• VirtaMed SA (Switzerland)
• VRMagic Holding AG (Germany)
• Surgical Sciences (Sweden)
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Recent industry developments in the medical simulation market:
In October 2021, Mentice AB, a global service provider of high-tech solutions for medical simulations focused on endovascular procedures, collaborated with ABBOTT Inc. Through this partnership, Rush students and industry partners have now access to some of the most advanced medical technologies. simulation technology available.
In July 2021, Surgical Science, a leading provider of virtual reality simulators for medical training, announced that it had signed an agreement to purchase Simbionix from 3D Systems. With this acquisition, Surgical Science’s ability to deliver next-generation simulation solutions for patient safety will be accelerated.
In July 2021, CAE Healthcare and the Rush Center for Clinical Skills and Simulation (RCCSS) announced their strategic simulation research collaboration to improve healthcare education and patient safety, including supporting CHSSN’s simulation research initiatives. The partnership will give Rush students and industry partners a taste of CAE Healthcare’s advanced medical simulation technology.
Objectives of the Global Medical Simulation Market
1. To identify major sub-segments of the Medical Simulation market to understand its structure.
2. Identifies, describes and analyzes the sales volume, value, market share, market competition landscape, opportunities and threats, and strategic initiatives for the global key manufacturers of medical simulation for the next few years.
3. To examine Medical Simulation in terms of its specific expected growth, career prospects, and market share contribution.
4. Analyze business developments in the market, such as market expansions, partnerships, new product development, and mergers.
5. Develop a strategic analysis of the main actors and an in-depth analysis of their strategic planning.
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