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  • Published On : Dec 2022
  • Code : CMI5377
  • Industry : Medical Devices
  • Pages : 164
  • Formats :

The global medical simulation market was valued at US$ 1,712.0 Mn in 2021 and is forecast to reach a value of US$ 3,864.2 Mn by 2028 at a CAGR of 12.4% between 2022 and 2028. The global medical simulation market is experiencing strong growth due to the rise in prevalence of chronic diseases (that require surgeries) across the globe and rising concerns over patient safety. Moreover, increasing demand for minimally invasive treatments or growing adoption of minimally invasive surgeries is expected to boost the growth of the market. However, factors such as security concerns and high cost of simulators and dearth of skilled professionals are expected to hamper the growth of the global medical simulation market.

Global Medical Simulation Market: Regional Insights

Based on geography, the global medical simulation market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period due to the increase in prevalence of chronic diseases that require surgeries and the presence of major players in the region. For instance, the adoption of medical simulators has increased due to the rise in burden of chronic diseases in this region. According to the Centers for Disease Control and Prevention (CDC), chronic diseases such as heart disease, cancer, and diabetes are the leading causes of death and disability in the United States. Moreover, 6 in 10 Americans live with at least one chronic disease, such as heart disease and stroke, cancer, or diabetes.

Asia Pacific is also expected to witness robust growth in the global medical simulation market due to the rising demand for patient-centric healthcare and improvements in healthcare infrastructure. For instance, in September 2022, to combat all the health infrastructure issues, the Government of India launched the PM Ayushman Bharat Health Infrastructure Mission (ABHIM). In the next 4-5 years, the goal is to improve the vital healthcare network from village to block to the district to regional and national levels. This in turn is expected to increase the demand for medical simulators, driving the growth of the medical simulation market.

Figure 1. Global Medical Simulation Market Share (%), by Region, 2022

Medical Simulation  | Coherent Market Insights

Global Medical Simulation Market Drivers:

Increase in prevalence of chronic diseases (that require surgeries) across the world is expected to augment growth of the global medical simulation market during the forecast period. For instance, chronic disease state simulation provides a new approach to develop the skills needed to work with complex patient cases in ambulatory care settings. Chronic diseases such as cardiovascular disease and cancer, are leading causes of death and disability worldwide. According to the World Health Organization (WHO), Noncommunicable diseases (NCDs), such as heart disease and cancer, kill 41 million people each year, equivalent to 74% of all deaths worldwide.

Rising concerns over patient safety is expected to boost growth of the global medical simulation market during the forecast period. For instance, the Global Patient Safety Action Plan [2021-2028, World Health Organization] provides framework for countries to develop their respective national action plans on patient safety, as well to align existing strategic instruments for improving patient safety in all clinical and health-related programmes. This in turn is expected to or has increased demand for medical simulators, driving the growth of the medical simulation market.

Global Medical Simulation Market Opportunities:

Increase in the use of simulation in healthcare is expected to offer lucrative growth opportunities for players in the global medical simulation market. For instance, medical simulation is modern-day methodology for training healthcare professionals through advanced educational technology. In April 2022, Delhi Academy of Medical Sciences (DAMS) launched a simulation-based medical education facility which can be used by novice, intermediate, and advanced level medical students to practice without causing harm to patients. The academy has also recently completed 22 years of its classroom program and has a mobile app eMedicoz.

Increasing demand for minimally invasive treatments or growing adoption of minimally invasive surgeries is expected to provide significant growth opportunities for players in the global medical simulation market. Most patients seem to prefer a minimally invasive approach to their treatment, as an alternative to traditional open surgery. Therefore, with the rising prevalence of cardiovascular diseases (CVDs) and growing awareness regarding minimally invasive treatments, the adoption of cardiac surgical simulators is also increasing with a rapid pace. This in turn is expected to propel the growth of the global medical simulation market.

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Medical Simulation Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 1,712.0 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2028
Forecast Period 2022 to 2028 CAGR: 12.4% 2028 Value Projection: US$ 3,864.2 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Products and Services: Products (Interventional/Surgical Simulators (Laparoscopic Surgical Simulators, Gynecology Surgical Simulators, Cardiac Surgical Simulators, Arthroscopic Surgical Simulators, and Others), Task Trainers, and Others), Services & Software (Web-Based Simulation, Medical Simulation Software, Simulation Training Services, and Others)
  • By Technology/Fidelity: High-Fidelity Simulators, Medium-Fidelity Simulators, Low-Fidelity Simulators
  • By End User: Academic & Research Institutes and Hospitals
Companies covered:

Nasco, Simulaids Inc., Simulab Corporation, Mentice AB, Limbs & Things, Kyoto Kagaku Co. Ltd., Laerdal, Canadian Aviation Electronics, 3D Systems, Gaumard Scientific Company Inc., among others.

Growth Drivers:
  • Increase in prevalence of chronic diseases (that require surgeries)
  • Rising concerns over patient safety
Restraints & Challenges:
  • Security concerns and high cost of simulators
  • Dearth of skilled professionals

Global Medical Simulation Market Trends:

3D medical simulation can brighten the future of medical simulation over the forecast period due to the increasing focus and demand for virtual reality in the healthcare industry. 3D simulation and virtual reality have resulted in advances in the simulation of various types of surgery. Owing to advances in virtual reality and 3D simulation, the demand for virtual-based simulation is expected to increase rapidly. This trend is expected to continue over the forecast period, driving the growth of the global medical simulation market.

Moreover, over the years, the adoption of cardiac simulators has increased in hospitals and research centres owing to rise in prevalence of cardiovascular diseases (CVDs) worldwide. Cardiovascular diseases (CVDs) are the leading cause of death worldwide, taking an estimated 17.9 million lives each year, according to the World Health Organization (WHO). Thus, with the rise in prevalence of CVDs, the demand for cardiac simulators is also increasing. This trend is expected to continue during the forecast period, driving the growth of the market.

Global Medical Simulation Market Restraints:

Security concerns and high cost of simulators are expected to hamper growth of the global medical simulation market. For instance, medical simulation helps reduce health care costs by improving patient safety and reducing staffing costs by reducing training time and staff turnover. However, a human patient simulator typically ranges in price from US$ 10,000 to US$ 100,000 depending on the type, brand, features, and included support services. Hence, a huge investment is required in a medical simulation, which in turn is expected to hinder market growth.

Dearth of skilled professionals is expected to hinder growth of the medical simulation market. For instance, healthcare simulation is a modern way to train and/or educate healthcare professionals to master technical, cognitive, and behavioral skills. With the help of medical simulation, healthcare providers can learn, practice, and assess their medical skills in a safe environment. Therefore, there is a need for skilled professionals in the field of medical simulation.

Figure 2. Global Medical Simulation Market Share (%), by Product and Services, 2022

Medical Simulation  | Coherent Market Insights

Global Medical Simulation Market Segmentation:

The global medical simulation market report is segmented into Products and Services, Technology and Fidelity, End User, and Geography.

Based on Products and Services, the market is segmented into Products (Interventional/Surgical Simulators (Laparoscopic Surgical Simulators, Gynecology Surgical Simulators, Cardiac Surgical Simulators, Arthroscopic Surgical Simulators, and Others), Task Trainers, and Others) and Services & Software (Web-Based Simulation, Medical Simulation Software, Simulation Training Services, and Others). Out of which, Interventional/Surgical Simulators Segment is expected to dominate the medical simulation market over the forecast period and this is attributed to the rise in demand for minimally invasive treatments or growing adoption of minimally invasive surgeries.

Medical Simulation Software Segment is also expected to witness significant growth in the near future and this is owing to the increase in the use of simulation in healthcare.

Based on Technology and Fidelity, the global medical simulation market is segmented into High-Fidelity Simulators, Medium-Fidelity Simulators, and Low-Fidelity Simulators. Of which, High-Fidelity Simulators Segment is expected to dominate the market over the forecast period and this is attributed to the rising concerns over patient safety. High-fidelity patient simulation (HPS) refers to the use of computerized manikins that simulate real-life scenarios.

Medium-Fidelity Simulators Segment is also expected to witness significant growth in the near future and this is due to the increase in adoption of simulators in the healthcare industry. Medium-fidelity simulation is a cost-effective method to train student midwives in both technical and non-technical skill sets.

Based on End User, the market is segmented into Academic & Research Institutes and Hospitals. Out of which, Hospitals Segment is expected to dominate the market over the forecast period and this is attributed to the increase adoption of cardiac simulators in hospitals due to rise in prevalence of cardiovascular diseases (CVDs) worldwide.

Global Medical Simulation Market: Key Developments

In March 2022, MedLern announced the launch of an innovative, online resuscitation training platform that does not require instructor oversight.

In October 2020, GIGXR, Inc. announced the launch of HoloPatient Remote and GIG Mobile for medical and nursing schools. Built for online and hybrid learning environments, these applications together facilitate safe and socially distanced standardized patient simulation training, enabling real-time interaction, engagement, and clinical assessment between students and instructors.

In August 2020, TruCorp and Laerdal Medical collaborated to bring a cost-effective and easy-to-implement ventilation training solution to the market.

Global Medical Simulation Market: Key Companies Insights

The global medical simulation market is highly competitive. This is attributed to the increase in use of simulation in healthcare, as a result, players in the market are focusing on launching novel products in the market to meet increasing demand.

Some of the major players in the global medical simulation market are Nasco, Simulaids Inc., Simulab Corporation, Mentice AB, Limbs & Things, Kyoto Kagaku Co. Ltd., Laerdal, Canadian Aviation Electronics, 3D Systems, Gaumard Scientific Company Inc., among others.

*Definition; Medical simulation is a modern way to train and/or educate healthcare professionals. It helps healthcare professionals or providers learn, practice, and assess their medical skills in a safe environment. Medical simulation offers numerous potential strategies for comprehensive and practical training, and safer patient care.

Medical simulation is a modern way to train or educate healthcare professionals. It is a modern-day methodology for training healthcare professionals through advanced educational technology. It helps healthcare professionals or providers learn, practice, and assess their medical skills in the safe environment. Medical simulation offers numerous potential strategies for comprehensive and practical training, and safer patient care. It has four main purposes such as education, assessment, research, and health system integration in facilitating patient safety.

Market Dynamics:

Increase in the use of simulation in healthcare, increasing concerns over patient safety, increasing demand for minimally invasive treatments, technological advancements, and outbreak of COVID-19 are major factors expected to drive growth of the global medical simulation market.

For instance, in October 2022, Oxford Medical Simulation raised about € 2.4 million for its VR healthcare training. The company aims to meet the urgent need to train medical professionals more efficiently and help overcome current staffing crisis in healthcare. Moreover, in May 2021, NEJM Group and Education Management Solutions (EMS) signed an agreement to put the cutting-edge clinical diagnosis training program in front of every healthcare student in the United States.

Key features of the study:

  • This report provides in-depth analysis of the global medical simulation market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2028), considering 2021 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
  • It profiles key players in the global medical simulation market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
  • Key companies covered as a part of this study include Nasco, Simulaids Inc., Simulab Corporation, Mentice AB, Limbs & Things, Kyoto Kagaku Co. Ltd., Laerdal, Canadian Aviation Electronics, 3D Systems, Gaumard Scientific Company Inc., among others.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
  • The global medical simulation market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical simulation market.

Detailed Segmentation:

  • Global Medical Simulation Market, By Products and Services:
    • Products
      • Interventional/Surgical Simulators
        • Laparoscopic Surgical Simulators
        • Gynecology Surgical Simulators
        • Cardiac Surgical Simulators
        • Arthroscopic Surgical Simulators
        • Others
      • Task Trainers
      • Others
    • Services & Software
      • Web-Based Simulation
      • Medical Simulation Software
      • Simulation Training Services
      • Others
  • Global Medical Simulation Market, By Technology/Fidelity:
    • High-Fidelity Simulators
    • Medium-Fidelity Simulators
    • Low-Fidelity Simulators
  • Global Medical Simulation Market, By End User:
    • Academic & Research Institutes
    • Hospitals
  • Global Medical Simulation Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Middle East and Africa
    • South America
  • Company Profiles:
    • Nasco
    • Simulaids Inc.
    • Simulab Corporation
    • Mentice AB
    • Limbs & Things
    • Kyoto Kagaku Co. Ltd.
    • Laerdal
    • Canadian Aviation Electronics
    • 3D Systems
    • Gaumard Scientific Company Inc.

Frequently Asked Questions

The global medical simulation market size is estimated to be valued at US$ 1,918.6 Million in 2022 and is expected to exhibit a CAGR of 12.4% between 2022 and 2028.
Increase in prevalence of chronic diseases (that require surgeries) and rising concerns over patient safety is fueling the market.
The products segment is the leading product and services segment in the market.
Security concerns and high cost of simulators and dearth of skilled professionals are major factors restraining the market.
Key players operating in the market are Nasco, Simulaids Inc., Simulab Corporation, Mentice AB, Limbs & Things, Kyoto Kagaku Co. Ltd., Laerdal, Canadian Aviation Electronics, 3D Systems, Gaumard Scientific Company Inc., among others.

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