Medical Simulation Market
Global Medical Simulation Market Size, Share & Trends Analysis Report By Products & Services (Web-based Simulation, Model-based Simulation, and Simulation Training Services), By Technology (Low Fidelity Simulators, Medium Fidelity Simulators, and High Fidelity Simulators), By End-User (Academic Institutes & Research Centers, and Hospitals) Forecast, 2021-2027 Update Available - Forecast 2024-2030
The global medical simulation market is growing at a considerable CAGR of 13.3% during the forecast period (2021-2027). The factors that augment the growth of the market include a rise in the number of healthcare workers, an increase in demand for a user-friendly interface, an increase in n demand for minimally invasive treatment procedures, and training of complex cases. Moreover, the need to increase patient safety and reduce medical errors is also estimated as one of the major factors. For instance, as per the analysis of NCBI, every year around 250,000 deaths occur due to medical error. According to the analysis of The Johns Hopkins University, deaths due to medical error are estimated to be the third leading cause of death, behind cancer and cardiovascular disease. The need for tackling these unnecessary death rates is further surged up the demand for medical simulations to assist, doctors, nurses, surgeons, or any other healthcare worker to understand the procedures.
In addition to this, government and non-government initiatives to increase the skilled training of healthcare workers also contribute to the growth of the market. For instance, Advanced Initiative in Medical Simulation (AIMS) Board and SSH established the Bob Waters Memorial Scholarship Fund to support students in healthcare simulation every year by providing motivation and scholarships. However, the high cost of simulators, difficulty in attaining multimodal simulation, and lack of complete real situation are some of the restraints that are estimated to challenge the growth of the market in the forecast period. Conversely, technological advancements in the medical field, researches in the field, and a rise in the number of market players with innovative solutions are the opportunity estimated for the market players. The lack of healthcare professionals, and raising awareness of simulation education in emerging countries, are all likely to provide profitable opportunities for market players.
Impact of COVID-19 on the Global Medical Simulation Market
The global medical simulation market is hardly hit by the COVID-19 pandemic since December 2019. The outbreak of COVID-19 in the major economies disrupted medical education across the globe. This led to the most number of students being physically distant from classrooms and leading to cancellation lectures. However, as the number of cases got high with time, there were many new enrollments in the medical staff to reduce the effects of the pandemic and treat patients. For instance, in March 2020, Oxford Medical Simulation announced the offering of online VR training to assist medical facilities to reduce the burden. The facilities were provided for free countries the UK, Canada, and the US so retired doctors and nurses can get back up to speed on patient care quickly. Moreover, organizations like The International Nursing Association of Clinical Simulation and Learning (INACSL) and the Society for Simulation in Healthcare (SSH) supported the use of virtual simulation as a replacement clinical hours for students who were enrolled during the current public health crisis caused by COVID-19.
Segmental Outlook
The market is segmented based on products and services, technology, and end-user. Based on the products and services segment, the market is segmented into the web-based simulation, model-based simulation, and simulation training services. Among these, the web-based simulation segment is expected to develop at the fastest CAGR during the forecast period. The extensive availability of Internet services, a regulated and predictable learning environment, and controlled access to simulation processes are all factors contributing to this segment's rapid growth. Further, based on the web-based simulation, the market is sub-segmented into simulation software, performance recording software, and virtual tours. Based on the model-based simulation, the market is sub-segmented into patient simulators, ultrasound simulators, surgical simulators, endovascular simulators, and others (dental simulators and eye simulators). Based on the simulation training services, the market is sub-segmented into vendor-based training, educational societies, and custom consulting & training services. Based on the technology segment, the market is segmented into low fidelity simulators, medium-fidelity simulators, and high fidelity simulators. Further, based on the end-user segment, the market is bifurcated into academic institutes & research centers, and hospitals.
Global Medical Simulation Market Share by Technology, 2020 (%)
Low Fidelity Simulators Segment to Hold a Lucrative Share in the Global Medical Simulation Market
Amongst the technology segment of the global medical simulation market, the low fidelity simulators segment was estimated to have one of the largest shares in the fidelity segment in the medical simulation market in 2020. This type of simulation is demonstrated in teaching medical procedures in traditional classrooms and is used in a broad range of skill acquisition and team training activities. These types of fidelity generally come at a lower cost however have fewer resources when compared to high fidelity. Moreover, less complexity mitigating implementation barriers and availability of CCC data set to yield assessments of performance are the other factors that drive the growth of the market. However, the high fidelity segment is estimated to be one of the fastest-growing segments as it is more realistic when compared to medium and low fidelities and substitution for hands-on training.
Regional Outlooks
The global medical simulation market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America (the US and Canada), Europe (Germany, Spain, Italy, France, the UK, and the Rest of Europe), Asia-Pacific (India, China, Japan South Korea, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East and Africa, and Latin America). North America is estimated to have one of the largest shares in the global medical simulation market. Increasing demand for hands-on training from rapidly increasing healthcare professionals, the presence of major players in the market, and advancement in technology are some of the factors that fuel the growth of the market in the North American region. Europe is also estimated to have a significant share in the market due to the presence of high healthcare workers in the region. According to the estimation of the World Health Organization (WHO), there are around 42 doctors per 10 000 population in the European region which is the highest when compared to the other continents.
Global Medical Simulation Market, by region 2021-2027
Asia-Pacific is projected to highest Contributor to the growth of the Global Medical Simulation Market
Asia-Pacific is anticipated to be the fastest-growing region in the global medical simulation market due to the increasing focus on medical education, training, research, and patient safety in emerging economies and improvement in healthcare infrastructure. Besides, the presence of a large patient population (especially in China and India), increasing investments in R&D, increasing focus on patient safety, and rising healthcare expenditure are among the major factors driving the growth of the market. For instance, according to the World Bank, in 2019 the population in India was around 1.36 billion and in China, it was around 1.39 billion.
Market Player Outlook
Key players of the global medical simulation market include 3D Systems, Inc., Mentice AB, Moog Inc., Gaumard Scientific Co., Inc., CAE Inc., Laerdal Medical AS, and Kyoto Kagaku Co. Ltd., among others. To survive in the market these players adopt different marketing strategies such as a merger, acquisitions, product launch, and geographical expansion so on. For instance, in July 2019, LAERDAL MEDICAL AS announced the acquisition of B-Line Medical to expand the integration and scope of the company’s product lines. The acquisition was aimed to yield the most integrated simulator, services, and center management platform on the market.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global medical simulation market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Medical Simulation Industry
• Recovery Scenario of Global Medical Simulation Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. 3D Systems, Inc.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. CAE Inc.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Laerdal Medical AS
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Kyoto Kagaku Co. Ltd.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Mentice AB
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Medical Simulation Market by Product & Service
5.1.1. Web-Based Simulation
5.1.1.1. Simulation Software
5.1.1.2. Performance Recording Software
5.1.1.3. Virtual Tours
5.1.2. Model-Based Simulation
5.1.2.1. Patient Simulators
5.1.2.2. Ultrasound Simulators
5.1.2.3. Surgical Simulators
5.1.2.4. Endovascular Simulators
5.1.2.5. Others (Dental Simulators and Eye Simulators)
5.1.3. Simulation Training Services
5.1.3.1. Vendor-Based Training
5.1.3.2. Educational Societies
5.1.3.3. Custom Consulting & Training Services
5.2. Global Medical Simulation Market by Technology
5.2.1. Low Fidelity Simulators
5.2.2. Medium Fidelity Simulators
5.2.3. High Fidelity Simulators
5.3. Global Medical Simulation Market by End Users
5.3.1. Academic Institutes & Research Centers
5.3.2. Hospitals
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. 3B Scientific GmbH
7.2. 3-Dmed
7.3. Adam, Rouilly Ltd.
7.4. Anesoft Corp.
7.5. Altay Scientific Group Srl
7.6. Charles River Analytics, Inc.
7.7. Education Management Solutions, LLC
7.8. EMD Services Ltd.
7.9. FlexSim Software Products, Inc.
7.10. Gaumard Scientific Co., Inc.
7.11. IngMar Medical, LLC
7.12. NAR Training, LLC
7.13. KaVo Dental GmbH
7.14. Limbs & Things, Ltd.
7.15. Intelligent Ultrasound Group
7.16. MEDICAL-X
7.17. Minerva Medical Simulation Inc.
7.18. Moog Inc.
7.19. Simendo B.V.
7.20. Simulaids Ltd.
7.21. SimX, Inc.
7.22. Surgical Science Sweden AB
7.23. TruCorp Ltd.
1. GLOBAL MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS, 2020-2027 ($ MILLION)
2. GLOBAL MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY PRODUCT & SERVICE, 2020-2027 ($ MILLION)
3. GLOBAL WEB-BASED MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL MODEL-BASED MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL MEDICAL SIMULATION TRAINING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
7. GLOBAL LOW FIDELITY SIMULATORS FOR MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL MEDIUM FIDELITY SIMULATORS FOR MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL HIGH FIDELITY SIMULATORS FOR MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY END-USERS, 2020-2027 ($ MILLION)
11. GLOBAL MEDICAL SIMULATION FOR ACADEMIC INSTITUTES & RESEARCH CENTERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL MEDICAL SIMULATION FOR HOSPITALS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
14. NORTH AMERICAN MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
15. NORTH AMERICAN MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY PRODUCT & SERVICE, 2020-2027 ($ MILLION)
16. NORTH AMERICAN MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
17. NORTH AMERICAN MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
18. EUROPEAN MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
19. EUROPEAN MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY PRODUCT & SERVICE, 2020-2027 ($ MILLION)
20. EUROPEAN MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
21. EUROPEAN MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
22. ASIA-PACIFIC MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
23. ASIA-PACIFIC MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY PRODUCT & SERVICE, 2020-2027 ($ MILLION)
24. ASIA-PACIFIC MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
25. ASIA-PACIFIC MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
26. REST OF THE WORLD MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY PRODUCT & SERVICE, 2020-2027 ($ MILLION)
27. REST OF THE WORLD MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
28. REST OF THE WORLD MEDICAL SIMULATION MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL MEDICAL SIMULATION MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL MEDICAL SIMULATION MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL MEDICAL SIMULATION MARKET, 2021-2027 (%)
4. GLOBAL MEDICAL SIMULATION MARKET SHARE BY PRODUCT & SERVICE, 2020 VS 2027 (%)
5. GLOBAL MEDICAL SIMULATION MARKET SHARE BY TECHNOLOGY, 2020 VS 2027 (%)
6. GLOBAL MEDICAL SIMULATION MARKET SHARE BY END-USER, 2020 VS 2027 (%)
7. GLOBAL WEB-BASED MEDICAL SIMULATION MARKET SHARE BY REGION, 2020 VS 2027 (%)
8. GLOBAL SIMULATION SOFTWARE IN WEB-BASED MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
9. GLOBAL PERFORMANCE RECORDING SOFTWARE IN WEB-BASED MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
10. GLOBAL VIRTUAL TOURS IN WEB-BASED MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
11. GLOBAL MODEL-BASED MEDICAL SIMULATION MARKET SHARE BY REGION, 2020 VS 2027 (%)
12. GLOBAL PATIENT SIMULATORS IN MODEL-BASED MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
13. GLOBAL ULTRASOUND SIMULATORS IN MODEL-BASED MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
14. GLOBAL SURGICAL SIMULATORS IN MODEL-BASED MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
15. GLOBAL ENDOVASCULAR SIMULATORS IN MODEL-BASED MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
16. GLOBAL OTHERS SIMULATORS IN MODEL-BASED MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
17. GLOBAL MEDICAL SIMULATION TRAINING SERVICES MARKET SHARE BY REGION, 2020 VS 2027 (%)
18. GLOBAL VENDOR-BASED TRAINING IN MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
19. GLOBAL EDUCATIONAL SOCIETIES IN SIMULATION TRAINING SERVICES IN MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
20. GLOBAL CUSTOM CONSULTING & TRAINING SERVICES IN MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
21. GLOBAL LOW FIDELITY SIMULATORS FOR MEDICAL SIMULATION MARKET SHARE BY REGION, 2020 VS 2027 (%))
22. GLOBAL MEDIUM FIDELITY SIMULATORS FOR MEDICAL SIMULATION MARKET SHARE BY REGION, 2020 VS 2027 (%)
23. GLOBAL HIGH FIDELITY SIMULATORS FOR MEDICAL SIMULATION MARKET SHARE BY REGION, 2020 VS 2027 (%)
24. GLOBAL MEDICAL SIMULATION FOR ACADEMIC INSTITUTES & RESEARCH CENTERS MARKET SHARE BY REGION, 2020 VS 2027 (%)
25. GLOBAL MEDICAL SIMULATION FOR HOSPITALS MARKET SHARE BY REGION, 2020 VS 2027 (%)
26. US MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
27. CANADA MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
28. UK MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
29. FRANCE MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
30. GERMANY MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
31. ITALY MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
32. SPAIN MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
33. ROE MEDICAL SIMULATION IZEMARKET S, 2020-2027 ($ MILLION)
34. INDIA MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
35. CHINA MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
36. JAPAN MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
37. SOUTH KOREA MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
38. ROAPAC MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
39. REST OF THE WORLD MEDICAL SIMULATION MARKET SIZE, 2020-2027 ($ MILLION)
