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Global Medical Simulation Market is Expected to Grow at a CAGR of 16.5% in the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Medical Simulation Market Report and Forecast 2021-2026’, the global medical simulation market size reached a value of around USD 1.6 billion in 2020. The market is likely to increase at a CAGR of 16.5% in the forecast period 2021-2026.

The global medical simulation market is primarily being driven by the rapid technological advancements. The development of academic societies dedicated to simulation, simulation journals, as well as health research, are propelling rapid innovation within the field. Currently, technological advancements in simulation technology have provided practical training for various interventions and operations. Advances in imaging processing have made it much easier to capture automated and precise 2D and 3D images with traditional CT and MRI technologies.

In May 2020, Cae Inc (NYSE: CAE), one of the leading key players, introduced a new Centre of Excellence and its new simulator for infants called CAE Luna. It is an advanced infant simulator designed to meet neonatal and infant-care clinical training criteria and to simulate serious new-born conditions requiring interprofessional team response.

In November 2020, The American Society of Anesthesiologists (ASA) and Cae Inc (NYSE: CAE) Healthcare announced the launch of their first virtual simulation course, the final two training modules of Anesthesia SimSTAT. The new modules are the latest in a series of five groundbreaking training modules, aimed at improving the anaesthesia-related emergency management and to improve patient results.

Market Analysis by Product and Services, End Use, and Region:

  • The product and services include anatomical models, web-based simulation, medical simulation software, and simulation training services. Anatomical models are further divided into patient simulators, task trainers, interventional/surgical simulators, endovascular simulators, ultrasound simulators, dental simulators, and eye simulators. Patient simulators can be categorised into high-fidelity simulators, medium-fidelity simulators, and low-fidelity simulators. Interventional/surgical simulators are further segmented into laparoscopic surgical simulators, gynaecology surgical simulators, cardiac surgical simulators, arthroscopic surgical simulators, and other interventional/surgical simulators. Medical simulation software is divided into performance recording software and virtual tutors. Simulation training services are further segmented into vendor-based training, educational societies, and custom consulting and training services.
  • Based on end uses, the market is divided into academic institutes, hospitals, military organizations, and others.
  • The major regional markets in the industry include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global medical simulation market is being driven by the rising technological advancements.
  • The increasing demand for minimally invasive treatment procedures is propelling the market growth.
  • The increased focus on the safety of patients is driving the market growth further.
  • The increased application of medical simulation in medical visualisation, surgical robots, and preventive medications have led to the increased demand for the product.

Key Offerings of the Report:

  • The EMR report gives an overview of the global medical simulation market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecasted (2021-2026) markets for the product and services, end-uses, and regions.
  • It assesses the market based on the SWOT and Porter’s Five Forces model.

The major key players in the global medical simulation market include companies like 3D Systems, CAE Inc., Simulaids Inc, Simulab Corporation, Kyoto Kagaku, Limbs & Things, Mentice, Laerdal, and Gaumard Scientific Company, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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