Medical Simulation Market Size, Share & Trends Analysis Report By End Use, By Products & Services (Anatomical Models, Web-based Simulators, Simulation Software), and Segment Forecasts, 2018 - 2026

Industry Insights

The global medical simulation market size was valued at USD 1.36 billion in 2017. It is estimated to expand at a CAGR of 16.3% over the forecast period. Growing technological advancements, rising demand for minimally invasive procedures, and increasing focus on patient safety are among the key trends stoking market growth.

Innovations and advancements in surgical tools are leading to an increased preference for minimally invasive surgical procedures. These procedures increase patient compliance by reducing hospital stay and time required for healing invasion made during operation.

Minimally invasive procedures require specific psychomotor skills. Simulation provides a proper tool for learning and training of such skills. Various simulation modalities are used for learning and training for minimally invasive surgeries. Various animal models, virtual reality, and video trainers can be used for simulation of minimally invasive procedures. Thus, surging demand for minimally invasive surgical procedures is providing an upthrust to the market.

In addition, augmented reality is also used for training and education. AR-based applications are used to deliver improved and efficient care to patients. These apps are also used in post-operative care and assistance to elderly patients. Rise in adoption of such innovative technologies and applications, which provide revolutionary solutions for better real-time services, is projected to boost the growth of the market over the forecast period.

In addition, growing significance of various health apps, medical visualization, surgical robots, and preventive medicines is supporting increased penetration of advanced technologies in healthcare simulation. This, in turn, is likely to escalate the growth of the market.

Products & Services Insights

Based on products & services, the medical simulation market is segmented into healthcare anatomical models, web based simulators, healthcare simulation software, and simulation training services. Healthcare anatomical models were the leading segment in 2017. The segment is poised to retain its dominance through 2025 owing to wide applications in several fields such as academics, training & practicing in hospitals, and military organizations.

Healthcare anatomical models can be further divided into patient simulators, task trainers, interventional/surgical, endovascular, ultrasound, dental, and eye simulators. Among these, patient simulators are estimated to witness the highest growth rate over the forecast period owing to its several advantages such as understanding of abstract concepts & gaining practical knowledge and wide range of applicability in various fields such as military organizations & academic institutes.

End-use Insights

Based on the end use, the market is segmented into academic institutes, hospitals, military organizations, and research and development. Versatile applicability and increasing demand for minimally invasive procedures are expected to contribute to the growth of the hospitals and academic institutes segments.

Academic institutes are expected to dominate the medical simulation market throughout the forecast horizon. Growing focus on patient safety and lack of appropriate knowledge for minimally invasive surgeries are anticipated to stir up the demand for medical trainings in academic institutes during the forecast period.

Regional Insights

North America dominated the market in 2017, followed by Europe. In North America, the market is driven by rising medical training institutes and hospitals, which are mainly focusing on standardizing their teaching practices to enhance patient safety. Rising geriatric population in the U.S. & Canada and increasing number of patient admissions in hospitals are projected to fuel the demand for patient safety and proper treatment, which in turn, is likely to supplement the growth of the regional healthcare simulation market.

Asia Pacific is poised to exhibit the fastest growth due to soaring demand for medical simulation and related services and increasing government spending on healthcare research. In addition, China is considered a home for producing low cost electronic chips, simulator models’ parts & components, software, and anatomical models. Ease of doing business in Asian countries is high due to availability of huge labor and low manufacturing cost. This is an important factor estimated to augment the market in Asia Pacific.

Medical Simulation Market Share Insights

Some of the key players in the market are Canadian Aviation Electronics, Ltd.; Laerdal Medical AS; Kyoto Kagaku Co, Ltd., Limbs & Things, Ltd.; Mentice AB; Simulab Corporation; Simulaids, Inc.; Gaumard Scientific Company, Inc.; 3D Systems, Inc.; and Surgical Science Sweden AB.

Key players adopt strategies such as products & services launch, collaborations, and partnerships to strengthen their position in the market. For instance, in March 2017, Teva Pharmaceutical Industries launched generic form of Minastrin 24 Fe (norethindrone acetate and ethinyl estradiol and ferrous fumarate tablets) in the U.S. Launch of Minastrin 24 Fe expands product & service portfolio of the company thereby, increasing customer base of the company.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, Grand View Research has segmented the global medical simulation market report on the basis of products & services, end use, and region:

• Products & Services Outlook (Revenue, USD Million, 2014 - 2026)

  • Healthcare Anatomical Models

    • Patient Simulators

    • Task Trainers

    • Interventional/Surgical Simulators

    • Endovascular Simulators

    • Ultrasound Simulators

    • Dental Simulators

    • Eye Simulators

  • Web Based Simulators

  • Healthcare Simulation Software

  • Simulation Training Services

• End-use Outlook (Revenue, USD Million, 2014 - 2026)

  • Academic Institutes

  • Hospitals

  • Military Organization

  • Research

• Regional Outlook (Revenue, USD Million, 2014 - 2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Mexico

    • Brazil

  • MEA

    • South Africa