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Home » Medical Devices » Global Medical Simulation Market To Reach $1,647.1 Million By The Year 2020

Global Medical Simulation Market To Reach $1,647.1 Million By The Year 2020

Published On: April 29, 2015

The research report titled “Global Medical Simulation Market Outlook: 2015-2020” analyzes the major drivers, restraints, opportunities, and challenges that have a long and short-term impact on its growth across the globe. This latest publication from Meticulous Research® states that the global medical simulation market would reach $1,647.1 million by the year 2020 at a CAGR of 14.8% over the period of 2015 to 2020.

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The rising awareness of patient safety, continuous technological advancements such as development of highly-realistic simulators and patient-specific virtual reality simulation (PSVR) that allows practice of upcoming real operations, increasing need to curtail growing healthcare costs, increased pressures on educators, and growing need for training various procedures are the major factors driving the growth of medical simulation market across the globe. In spite of these major driving forces, medical simulation did not gain widespread acceptance in the recent past, principally for the reasons of high cost of simulators, reluctance to adopt new training methods, and skepticism that what was learned from the simulators could be transferred to the actual procedures. These factors are still expected to restrain the growth of the global medical simulation market across the globe during the forecast period to a certain extent. Moreover, limited availability of funds, especially in the developing and underdeveloped countries further restricts the growth of this market.

The research report on the medical simulation market provides comprehensive analysis of the global market with a country level analysis and helps in understanding the driving forces for the growth of this market. The report also provides analysis of major product and service segments such as patient simulators, task trainers, procedural skills trainers, web-based simulation, audiovisual solutions, and simulation training services. The procedure skills trainers market is further sub-segmented into IV simulators, Endovascular trainers, Airway Management Products, Orthroscopy Trainers, Laparoscopy trainers, Dental Trainers, and other procedural/Surgical Trainers. Similarly, the simulation training services market is categorized into Educational Services, Hospital Services, and other vendor-based services. The major end-users of the medical simulation products and services are analyzed by categorizing into healthcare education, hospitals, military, emergency medical services, and voluntary organizations. Market size estimates and forecasts for the period 2015 to 2020 has been provided for each segment and its sub-segment, in terms of USD million, calculating growth rates from 2015 to 2020, considering 2014 as the base year for calculations.

The market has been segmented by geography as North America, Europe, Asia-Pacific, and Rest of the World (RoW). Market size and forecast is provided for each of these regions. These regions are further analyzed at a country level with a detailed qualitative and quantitative analysis.

North America is the major market in the global medical simulation market and is expected to dominate this market during the forecast period, with the U.S. contributing a major share, followed by Europe, and Asia-Pacific. On the other hand, the Asian market, especially India and China, is expected to witness a boost in demand for medical simulation products and services and are poised to register maximum growth over the next five-six years, as a result of their economic development, rising awareness of patient safety in these countries, huge patient base, and the growing focus of the global medical simulation players in these markets.

The global medical simulation market is fragmented with the presence of various global and local players. The patient simulators and task trainers market is mainly dominated by Laerdal Medical and CAE Healthcare whereas, Simbionix USA Corporation (3D Systems Inc.) have noted significant developments in the recent years. Other major players in this market are Simulaids Inc., Gaumard Scientific, Kyoto Kagaku Co., Ltd, Limbs and Things, Ltd, Education Management Solutions, Adam,Rouilly Limited, Altay Scientific S.p.A., IngMar Medical, Moog Inc., Surgical Science Sweden AB, KaVo Dental GmbH, Medical Simulation Corporation, Simulab Corporation, Yuan Technology Limited, and Mentice AB.

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Meticulous Research® produces global reports and custom studies for North America, Europe, Latin America, Asia¬-Pacific, and Middle East and Africa regions. These reports are used by our clients for marketing and strategic planning in various sectors.

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