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The Medical Simulation Market is segmented by Products and Services, Technology (High-fidelity Simulators, Medium-fidelity Simulators and Low-fidelity Simulators), End User, and Geography.
2018 - 2026
Fastest Growing Market:
The propelling factors for the growth of the medical simulation market include continuous technological advancements, increasing concerns over patient safety, and increasing demand for minimally invasive treatments.
The requirement of medical simulation in minimally invasive surgery has been established over the past few years. The minimally invasive techniques are becoming the standards of surgical techniques, at a very fast pace, for a number of surgical procedures. These MIS procedures involve smaller incisions leading to quicker recovery, which helps in the growth of the overall market.
The use of medical simulation devices, along with standardized patient simulators, has gained rapid growth over the last few years, mainly due to increasing technological advancements and their adoption in the field of healthcare. The barriers to adopting simulation products and services in hospitals include lack of funding, less time for simulation exercises, release from job environment, lack of management interest, etc.
The METIman simulator is found to be one of the most advanced and realistic simulators in the recent times, developed by the CAE simulators. Thus, the rise in various technological advancements in the field of medical simulation is increasing the applications in healthcare to train healthcare professionals, and as a result of which, the growth of the market studied is expected to propel over the forecast period.
As per the scope of the report, medical simulation is the modern day methodology for training healthcare professionals through the use of advanced educational technology. Medical simulation is experiential learning that every healthcare professional may need, but cannot be always engaged in during real-life patient care.
|By Products and Services|
|By End User|
|Academic and Research Institutes|
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Surgeons are found shifting to MIS, primarily laparoscopy and robotic surgery from open surgery. However, the MIS, primarily laparoscopy and robotic surgery require skilled surgeons to deliver successful procedures. There has been rapid adoption of the MIS in the cholecystectomy, appendectomy, gastric bypass, ventral hernia repair, colectomy, prostatectomy, tubal ligation, hysterectomy, and myomectomy procedures. Thus, the increasing MIS surgeries and the need for skilled professionals have propelled the laparoscopic surgical simulators market.
There are also cardiac surgeries that have been a major challenge for surgeons because of the complex nature of the surgery and the need for highly skilled professionals. Also, there has been a change observed in general surgery training, with the shift from open surgery toward the endovascular and minimally invasive approaches to disease management. Therefore, further simulation is expected to reduce the risks associated with the complex operations of cardiothoracic surgery and help create a more efficient, thorough, and uniform curriculum for cardiothoracic surgery fellowships.
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Asia-Pacific is projected to exhibit the fastest growth, due to the increasing demand for healthcare simulation and its related services. The emerging economies of India and China are expected to majorly boost the market, due to the growing thrust on medical studies and research. In addition, the ease of doing business in Asian countries is high, due to the availability of high labor and low manufacturing cost. This is an important factor that is estimated to augment the market in Asia-Pacific.
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The market is highly fragmented with many players. With many small and medium players, the competition is high. The market has been experiencing the entry of new players over the last few years, owing to the rising popularity of simulation technology. The existing players are differentiating on the basis of price, quality, and technology.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Continuous Technological Advancements
4.2.2 Increasing Concerns over Patient Safety
4.2.3 Increasing Demand for Minimally Invasive Treatments
4.3 Market Restraints
4.3.1 High Cost of Simulators
4.3.2 Reluctance to Adopt New Training Methods
4.3.3 Limited Availability of Funds, Especially in the Developing and Underdeveloped Countries
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Products and Services
126.96.36.199 Interventional/Surgical Simulators
188.8.131.52.1 Laparoscopic Surgical Simulators
184.108.40.206.2 Gynecology Surgical Simulators
220.127.116.11.3 Cardiac Surgical Simulators
18.104.22.168.4 Arthroscopic Surgical Simulators
22.214.171.124.5 Other Products
126.96.36.199 Task Trainers
188.8.131.52 Other Products and Services
5.1.2 Services and Software
184.108.40.206 Web-based Simulation
220.127.116.11 Medical Simulation Software
18.104.22.168 Simulation Training Services
22.214.171.124 Other Services and Software
5.2 By Technology
5.2.1 High-fidelity Simulators
5.2.2 Medium-fidelity Simulators
5.2.3 Low-fidelity Simulators
5.3 By End User
5.3.1 Academic and Research Institutes
5.4.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South korea
18.104.22.168 Rest of Asia-Pacific
5.4.4 Middle-East & Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East & Africa
5.4.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3D Systems
6.1.2 Canadian Aviation Electronics (CAE)
6.1.3 Gaumard Scientific Company Inc.
6.1.4 Kyoto Kagaku Co. Ltd
6.1.5 Laerdal Medical
6.1.6 Limbs & Things Ltd
6.1.7 Mentice AB
6.1.8 Simulab Corporation
6.1.9 Simulaids Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments