Medical Simulation Market

Global Market Study on Medical Simulation: Low-fidelity Technology to Hold Major Sway Over This Landscape

Medical Simulation Market Segmented By Product & Services, Software and Services with Low-fidelity Medical Simulation, Medium-fidelity Medical Simulation and High-fidelity Medical Simulation Technology

Market Snapshot

Medical simulation product & service sales revenue totalled US$ 1.6 Bn in 2020, according to Persistence Market Research. The overall market is expected to reach US$ 7.1 Bn by 2031, expanding at a CAGR of 14.4%.

Medical simulation forecast analysis indicates 13.9% y-o-y growth in 2021. Among the products and services available, market share of models/ simulators is the highest among all. However, the software segment is set to expand at 15% CAGR through 2031.

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Companies

  • CAE Inc.
  • Mentice
  • Gaumard Scientific
  • Limbs & Things LTD
  • 3D Systems
  • Intelligent Ultrasound
  • Kyoto Kagaku
  • Operative Experience, Inc.
  • Synaptive Medical
  • 3B Scientific
  • Laerdal Medical

Key Insights Offered in Medical Simulation Industry Survey

  • Market Estimates and Forecast 2015-2031
  • Key Drivers and Restraints Impacting Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Market and How to Navigate
  • Recommendation on Key Winning Strategies

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Demand Analysis for Medical Simulation from 2016-2020 Compared to Market Outlook for 2021-2031

The global medical simulation market is estimated to be valued at US$ 1.8 Bn in 2021. The market is expected to witness increase at a CAGR of 14.4% during the forecast period 2021-2031.

Along with standardized patient simulators, there is a rise in growth of medical simulation devices over the last few years. This is due to an increase in advancement in technology and adoption in healthcare. Hospitals are adopting simulation services and products as their management are showing interest in simulation practices.

Continuous advancements in digital healthcare technologies, such as VR/AR, artificial intelligence, robotics, 3D-printing or nanotechnology will shape the future of healthcare in upcoming years. For a number of surgical procedures, the invasive techniques are now becoming the standards of surgical techniques at a rapid pace, which is further driving market growth of medical simulation.

The global market is anticipated to witness growth in revenue from US$ 1.6 Bn in 2020 to US$ 7.1 Bn by 2031.

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How Does Medical Simulation Help in Enhancing Clinical Competence?

Clinical competence can be enhanced with the help of medical simulation training. There are many advantages, such as, the training can improve medical practitioners’ competencies and reducing healthcare costs. The addition of clinical skills through hands-on practice is allowed by medical simulation, which is far better than an apprentice style of learning.

Clinical skills are considered as a combination of skills, discrete and measurable knowledge and attitudes essential for quality health care and patient safety. Trainees can perform procedural mistakes and learn from them without the fear of harming the patient as there is a continuous advancement in technology. Thus, enhancement of clinical competence through medical simulation is fueling the market growth.

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Which Factors are Driving Adoption of Medical Simulation?

There is an increase in the need to identify the core origins of medical errors. It is also a pressing need to investigate solutions that highlight patient safety. A complete implementation of simulation training in healthcare is one of the solution for investigating.

In the United States, it has been found that around 440,000 patients die each year due to medical errors. Reducing medical errors and the associated costs, all while improving outcomes in patient care, can be done with the help of medical simulation. Administration or preparation errors and managing crises are reduced as the healthcare institutions are selecting simulators.

What are the Key Challenges Impacting Demand for Medical Simulation Products & Services?

Simulation scenarios are requested by technicians and operations specialists running the simulation lab and the clinical staff, as there is an iron curtain between them. This scenario leaves a gap in communication at many levels.

Nurturing relationships and effective collaboration between clinical staff and simulation experts can be tried as a solution for seamless application of simulation technology. Thus, collaboration failure is hampering the growth of medical simulation. Moreover, unreliable wireless connectivity in wireless simulators is one of the reasons restraining demand for medical simulation products.

medical-simulation-market

Country-wise Insights

Why is Demand for Medical Simulation Surging across the U.S.?

According to Persistence Market Research analysis, overall medical simulation spending in the U.S. alone is likely to increase at a rate of almost 13.3% from 2021 to 2031, with a present market value of US$ 297 Mn in 2021.

Healthcare simulation in the United States is rapidly evolving with a changing healthcare landscape. Currently, the country is shifting to online and virtual learning for simulation training. The country has proven fast & patient?safe path to surgical competence in surgical simulation. Simulation labs in the U.S. are used in contexts such as medical training, and these labs are well evidenced.

Many American hospitals are simulating technology on a regular basis in healthcare. The National Health Service Corps (NHSC) is investing millions in new technology every year to give staff a learning environment to make errors without the fear of compromising patient safety, and correct those errors in real time and learn from them.

Why is Demand for Medical Simulation Products & Services Continuously Rising in France?

The market in France is anticipated to be valued around US$ 339 Mn by 2031. Healthcare simulation is rapidly evolving with new technologies and methodologies in France. The country is the first to standardize surgical training, and it also makes sure doctors have high, measurable standards and enough rest before treating patients.

For instance, in September 2020, VirtaMed, a medical simulation company, and the French Association of Surgery (AFC), came together to disclose that there will be mobile surgical simulation lab at the Institute of Image Guided Surgery (IHU) in Strasbourg. Further, their commitment was to add more than 20 medical institutions in France. This will also provide access to residents with the laparoscopic simulator - VirtaMed LaparoS.

Which Factors are Boosting Adoption of Medical Simulation in China?

According to Persistence Market Research analysis, the market for medical simulation in China has a value of around US$ 152 Mn in 2021, and holds the largest share of around 41% in the East Asia region.

There is increase in demand for healthcare simulation products and services in China due to growing thrust on medical studies and research. Due to the availability of high-quality labor and low manufacturing costs, ease of doing business in Asian countries is high.

For instance, in 2018, the Wu Jieping Medical Foundation (WJMF) attended the China Meeting on Medical Simulation in Healthcare. The theme was ‘Smart Simulation, Cross-border Integration’, which was aimed at exploring the issues in all aspects of learning, production, and research in the analog medicine field with the help of technologies such as artificial intelligence, big data, and 3D and VR printing.

Category-wise Insights

Which Model/ Simulator is Anticipated to Fuel Sales Over the Coming Years?

Demand for interventional or surgical simulators is anticipated to expand at a CAGR of 15%, with a current market value of around US$ 207 Mn in 2021.

It has been found that surgeons are moving toward laparoscopy and robotic surgery and MIS (Management Information System) from open surgery. For delivering successful procedures, laparoscopy, robotic surgery, and MIS require skilled surgeons.

There is an increase in the adoption of MIS in the appendectomy, cholecystectomy, ventral hernia repair, gastric bypass, prostatectomy, colectomy, hysterectomy tubal ligation, and myomectomy procedures.

Medical students and surgeons are using surgical simulators to train themselves in specific types of procedures, as simulation is particularly attractive in the field of surgery. Therefore, rising MIS surgeries and the need for skilled professionals are driving demand for laparoscopic surgical simulators.

Which Medical Simulation Technology is Anticipated to Proliferate in Future?

Low-fidelity technology is estimated account for total sales of US$ 856 Mn by the end of 2021. However, high-fidelity technology is anticipated to expand at a CAGR of 15.6% from 2021 and 2031.

Programmed and wireless, full-body patient presentations are included in high-fidelity simulators (HFS). The latest model of HFS is incorporated in the technology of computer hardware. A variety of high-stakes learning scenarios such as a postpartum hemorrhage and mock code or mass casualty incident are due to use of a high-fidelity manikin.

Currently, nursing education is widely accepting high-fidelity simulations. The HFS are also introduced into acute care to support with, continuing education, orientation programs certification courses, and staff development. Thus, implementation of high-fidelity simulations in nursing education is fueling the market growth of medical simulation.

Competitive Landscape

Key vendors operating in market are continuously focusing on evolving their existing product and service portfolios. Companies are launching industry-specific solutions in order to cater to industry needs.

  • In May 2021, CAE Inc. introduced a new product CAE Vimedix 3.2, an advanced software technology that offers improved fidelity, ultrasonography realism, 3D/4D ultrasound and multiplanar reconstruction (MPR) across the entire CAE Vimedix simulation platform.
  • In February 2020, Limbs & Things LTD introduced the arrival of two new TruCorp products on its website. TruBaby X and TruNerveBlock trainers aimed to allow trainees to practice different skills in areas such as pediatrics and anesthesia. These are designed for trainee anesthetists to develop, practice and maintain the skills to perform ultrasound-guided regional anesthesia and vascular access procedures.

Medical Simulation Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Israel
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Product & Service
  • Technology
  • End User
  • Region

Key Companies Profiled

  • CAE Inc.
  • Mentice
  • Gaumard Scientific
  • Limbs & Things LTD
  • 3D Systems
  • Intelligent Ultrasound
  • Kyoto Kagaku
  • Operative Experience, Inc.
  • Synaptive Medical
  • 3B Scientific
  • Laerdal Medical
  • VRmagic Holding AG
  • VirtaMed AG
  • Invous Limited
  • SynBone AG

Report Coverage

  • Market Forecasts
  • Vendor Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Market Segmentation Based on Medical Simulation Industry Research

Product & Service

  • Models/Simulators
    • Healthcare Simulation Anatomical Models
    • Patient Simulators
    • Task Trainers
    • Interventional/Surgical Simulators
      • Laparoscopic Surgical Simulators
      • Gynaecology Surgical Simulators
      • Cardiac Surgical Simulators
      • Arthroscopic Surgical Simulators
      • Others
  • Software
    • Web-based Simulation
    • Healthcare Simulation Software
  • Services
    • Simulation Training Services
    • Educational Societies
    • Custom Consulting Services

Technology

  • Low-fidelity Medical Simulation
  • Medium-fidelity Medical Simulation
  • High-fidelity Medical Simulation

End User

  • Medical Simulation for Academic Institutions
  • Medical Simulation for Hospitals & Clinics
  • Medical Simulation for Military Organizations
  • Others

- FAQs -

Europe is projected to register strong growth in the market at a CAGR of above 16%, owing to growth in digital transformation in the healthcare sector in the region.

Models/ simulators are currently the most attractive in the market, accounting for over 48% of revenue generated in 2020.

Some of the leading companies in this landscape are CAE Inc., 3D Systems, Mentice, and Gaumard Scientific. As per Persistence Market Research, nearly 60% of the market share is currently covered by the top 15 players.

Academic institutions are expected to dominate the market over the forecast period, generating revenue of US$ 2.7 Bn by 2031. However, hospitals and clinics are estimated to surge at a CAGR of 15%, owing to rising need for safety and security of patients in healthcare facilities.

The medical simulation market was valued at US$ 1.6 Bn in 2020, and is estimated to grow at a significant rate.

Sales of medical simulation are expected to be valued at US$ 1.8 Bn by the end of 2021, and are likely to surge to US$ 7.1 Bn by 2031.

From 2016 to 2020, sales of medical simulation solutions increased at a CAGR of 13.2%.

Implementation of high-fidelity simulations in nursing education and rising demand for healthcare simulation in East Asia are key trends being observed.

Top 5 countries driving demand for medical simulation include the U.S., Canada, China, U.K., and France.

North America is predicted to remain one of the most attractive markets, with the U.S. account for close to 60% of the North American market.

Sales of medical simulation products & services in Japan and South Korea were valued at US$ 104.0 Mn and US$ 87.7 Mn, respectively, in 2020, and are projected to register CAGRs of 14.9% and 15.7%.

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