Medical Simulation Market Size, Share & Trends Analysis Report By Product & Services (Medical Simulation Software, Web-based Simulators, Simulation Training Services), By Technology, By End Use, And Segment Forecasts, 2023 - 2030

Report Overview

The global medical simulation market size was estimated at USD 2.18 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 16.7% from 2023 to 2030. Growing technological advancements, preference for minimally invasive treatment, and focus on patient safety are the factors anticipated to boost the market growth. The COVID-19 pandemic has negatively impacted various market players. Canadian Aviation Electronics, Ltd reported that medical and nursing schools are a major part of the simulation products market. This has negatively impacted their ability in completing contracts and also in delivering existing orders.

COVID-19 began to hamper the demand in Asia early in the fourth quarter of the financial year 2020, with border restrictions in place, and in North America and Europe, later in March. Within the hospital market, customers were predominantly focused on handling acute operational demands due to the ongoing healthcare crisis instead of focusing on their training needs. This could result in less focus and budget for normal operations and training projects in the near term. Manufacturing operations for healthcare products also continued during the pandemic. Such a pattern of demand was observed in other companies as well.

Medical simulation in healthcare creates a safe learning environment, within which practitioners and researchers can test new clinical processes and enhance their teams’ and individuals’ skills. Most of the simulation applications include artificial patients, who can display symptoms and also respond to the simulated treatment. This allows specialists to enhance their clinical skills without risking patient lives.

Medical Simulation Market: A market with a double-digit growth rate, which was significantly impacted by the pandemic.

Companies are involved in launching technologically advanced solutions in the market, which is also boosting the market growth. For instance, in January 2020, CAE Healthcare released the CAE Vimedix 3.0 ultrasound simulator that provides VR as well as 3D/4D ultrasound images of the heart. Furthermore, in January 2018, Gaumard Scientific Company launched the Pediatric HAL S2225, which is advanced wireless and tetherless mobile pediatric patient simulator. These factors are expected to positively impact market growth.

Product & Services Insights

Based on products and services, the market is segmented into web-based simulators, healthcare anatomical models, simulation training services, and healthcare simulation software. The Healthcare anatomical models segment is further classified into task trainers, patient simulators, interventional/surgical simulators, ultrasound simulators, dental simulators, endovascular simulators, and eye simulators.

The healthcare anatomical model segment held the largest market share of more than 30.47% in 2020. These simulators are proving to be beneficial in the research and manufacturing industry for conducting trials and permutations and combinations before finalizing design, processes, or systems, especially in the medical devices industry. These factors are anticipated to contribute to the growth of the segment over the forecast period.

Technology Insights

Based on technology, the medical simulation market is segmented into virtual patient simulation, 3D printing, and procedural rehearsal technology. The procedure rehearsal technology segment held the largest share of 38.9% in 2022. The rising number of medical errors leading to increasing demand for patient safety is expected to boost the demand for procedure rehearsal technology. Market players are involved in technological advancements, which is expected to fuel market growth.

The virtual patient simulation segment is expected to expand at a lucrative CAGR of over 18.9% during the forecast period. The technology has many applications in medical school curricula. Companies dealing in virtual patient simulation include 3D Systems, Simulab Corporation, Simulaids, and Surgical Science Sweden AB.

End-use Insights

Based on the end-use, the market is classified into military organizations, academic institutes, research, and hospitals. The academic institutes' segment held the largest share of 30.67% in 2020. The academic research institutions segment is likely to witness persistent growth due to the presence of several academic research groups that are involved in the study of complex biological systems using computer models. For instance, the NIDDK studied the outcome of decreased kidney function on pharmacokinetics by drugs expelled renally by organic anion transporters through PBPK modeling.

The hospitals segment is expected to witness the fastest growth rate of around 16.6% during the forecast period owing to a gradual shift of focus on advanced learning, the advent of advanced simulation-based technologies, full utilization of simulation models in medical surgeries, increasing focus on minimizing errors, and cost-effectiveness of procedural training for medical physicians.

Regional Insights

In 2022, North America held the largest revenue share of 46.90%. The market growth can be attributed to various factors such as the presence of key players in the region and high investments in the technology. Moreover, rapid technological advancements and high disposable income are some of the factors expected to fuel the market growth over the forecast period.

The Asia Pacific segment is anticipated to witness significant growth over the forecast period owing to the constant improvements in healthcare infrastructure. Moreover, the rising adoption of healthcare facilities coupled with the rapid expansion of manufacturing facilities in emerging countries, such as China and India, is propelling the market growth.

Key Companies and Market Share Insights

Vendors are investing in product launches, geographical expansions, collaborative agreements, and acquisitions, to sustain in the market. The market is expected to become highly competitive as many startups are seeking opportunities in this sector. For instance, in December 2020, CAE received ISO 13485:2016 certification for its facilities in Montreal (Canada) and Sarasota (U.S.). Both are medical device and quality management systems facilities. Also, in August 2020, TruCorp and Laerdal Medical partnered to bring a cost-effective & easy-to-implement ventilation training solution to the market. Some of the prominent players operating in the global medical simulation market are:

• CAE (Canadian Aviation Electronics, Ltd)

• Laerdal Medical

• 3D Systems

• Simulab Corporation

• Limbs & Things Ltd

• Simulaids

• Kyoto Kagaku Co., Ltd

• Gaumard Scientific Company

• Mentice AB

• Surgical Science Sweden AB

Medical Simulation Market Report Scope

Global Medical Simulation Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global medical simulation market report based on product and services, technology, end use, and region:

• Product & Services Outlook (Revenue, USD Million, 2018 - 2030)

  • Healthcare Anatomical Models

    • Patient Simulators

    • Task Trainers

    • Interventional/Surgical Simulators

      • Laparoscopic Surgical Simulators

      • Gynecology Simulators

      • Cardiovascular Simulators

      • Arthroscopic Surgical Simulators

      • Spine Surgical Simulators

      • Other Interventional/Surgical Simulators

    • Endovascular Simulators

    • Ultrasound Simulators

    • Dental Simulators

    • Eye Simulators

  • Web-Based Simulators

  • Healthcare Simulation Software

  • Simulation Training Services

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Virtual Patient Simulation

  • 3D Printing

  • Procedure Rehearsal Technology

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Academic Institutes

  • Hospitals

  • Military Organizations

  • Research

    • Medical Device Companies

    • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait