Medical Simulation Market by Product and Services (Model-based, Surgical, Ultrasound, Web-based,), by Fidelity (Low, Medium, High), by End-User (Institutions & Research Centers, Hospitals & Clinics, Military Organizations) – Global Analysis & Forecast, 2020 – 2027

Global Medical Simulation Market is expected to grow at a CAGR of 14.6% from 2020 to 2027.The growth of the market can be attributed to some important drivers including, an increase in the death rate owing to medical errors, a rise in the use of simulation in healthcare, and an increasing focus on patient safety. However, operational challenges and the high cost of simulators may limit the market growth to a certain extent in the coming years. Further, ongoing technological advancements and a shortage of healthcare personnel would create lucrative business opportunities for key players.

The global medical simulation market is segmented by product & service, fidelity, and end-user. By product and services, the market is separated intoweb-based simulation, model-based simulation, and simulation training services.By fidelity, the market is divided into low-fidelity, medium fidelity, and high-fidelity simulators. By end-user, the market is bifurcated intoacademic institutions & research centers, hospitals & clinics, and military organizations. North America, Europe, Asia-Pacific, and LAMEA are the geographical classifications of the market.

By product & service, the model-based segment generated maximum revenue in 2020. In terms of growth the web-based simulation segment is predicted to witness the fastest CAGR during the forecast period.The low-fidelity simulators segment generated the maximum revenue in the fidelity segment and is expected to lead the market in the coming years. The end-user segment is dominated by hospitals segment however, the academic institutions segment is expected to witness the fastest CAGR. North America dominated the global medical simulation market in the year 2020 and expected to continue this trend during the forecast period. In terms of growth, the Asia-Pacific is to attain the fastest CAGR during the forecast period.

The leading market players includeSimulab Corporation, Simulaids, Inc., Limbs and Things, Ltd., Kyoto Kagaku Co. Ltd., Laerdal Medical AS, CAE, Inc., 3D Systems, Inc., Mentice AB, Surgical Science Sweden AB, and Gaumard Scientific Company, Inc., among others.

Medical Simulation Market Key Segments:

Product and Services Segments

•    Model-based Simulation

o    Patient Simulation
o    Task Trainer Simulation
o    Manikin-based Simulation
o    Hybrid Manikin-based simulation
o    Standardized Patient Simulation

•    Surgical Simulation

o    Laparoscopic Surgical Simulators
o    Arthroscopic Surgical Simulators
o    Cardiovascular Simulators
o    Gynecology Simulators
o    Orthopedic Simulators
o    Spine Simulators
o    Endovascular Simulators
o    Others

•    Ultrasound Simulation

o    Anesthesia
o    Cardiology
o    Emergency Medicine
o    Intensive Care Unit
o    OB/GYN
o    Radiology
o    Others (Urology, General Nursing, Pediatrics)

•    Web-based Simulation

o    Simulation Software
o    Performance Recording Software
o    Virtual Tutors
o    Learning Management Software

•    Simulation Training Services

o    Vendor-based Training
o    Custom Consulting Services
o    Educational Societies

Fidelity Segments

•    Low-fidelity
•    Medium-fidelity
•    High-fidelity

End-User Segments

•    Academic Institutions & Research Centers
•    Hospitals & Clinics
•    Military Organizations

Geographical Segments

•    North America

o    The U.S.
o    Canada
o    Mexico

•    Europe

o    UK
o    Germany
o    France
o    Italy
o    Spain
o    Rest of Europe

•    Asia-Pacific

o    China
o    Japan
o    India
o    Australia
o    Rest of Asia-Pacific

•    LAMEA

o    Latin America
o    The Middle East
o    Africa