(PharmaNewsWire.Com, May 06, 2020 ) The medical simulations market is expected to reach USD 5.16 billion by 2027 from an estimated USD 1.70 million in 2019, at a CAGR of 14.9%. The benefits of simulation over traditional learning, increasing demand for minimally invasive treatments, and increasing focus on patient safety are the major factors driving the growth of the medical simulations market.
“By product & service, the anatomical models segment accounted for the largest share of the medical simulations market in 2018.”
On the basis of product & service, the anatomical models segment accounted for the largest share of the global medical simulations market. The large share of this segment is due to high adoption of high fidelity (degree of realism) products, increasing primary care services, and shortage of healthcare professionals.
“By end user, the academic institutes segment held the largest market share of the medical simulations market in 2018.”
Based on end user, the academic institutes segment accounted for the largest share of the medical simulations market. The large share of this segment can be attributed to the increasing awareness of patient safety, focus on minimizing medical errors, and the rising number of medical school enrollees.
North America accounted for the largest share of the medical simulations market in 2018, followed by Europe and Asia Pacific. High adoption of simulation by medical universities and training centers, accessibility to technologies, well-established distribution channels, and rising number of healthcare professionals demanding hands on patient training are the major factors responsible for the large share of North America in the global medical simulations market.
The prominent players in the global medical simulations market are Laerdal Medical (Norway) and CAE (Canada) held the major share of the healthcare/medical simulation market and will continue to dominate the market between 2019 and 2027. Other major players operating in this market are 3D Systems (US), Simulab Corporation (US), Simulaids (US), Limbs and Things (UK), Kyoto Kagaku (Japan), Mentice (Sweden), Surgical Science Sweden (Sweden), and Gaumard Scientific Company (US).
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