The Medical Simulation Market is projected to register a CAGR of 12.4% during the forecast period, 2022-2027.
Medical Simulation has played a critical role in response to the COVID-19 pandemic in various medical institutions. Simulation training is deployed at various healthcare institutions throughout the course of the pandemic to refine protocols, facilitate practice changes, uncover safety gaps, and train redeployed healthcare workers in unfamiliar roles. According to the study titled "Implementation of Simulation Training During the COVID-19 Pandemic" published in the Stimulation Healthcare February 2021, in the process of responding to the pandemic, simulation was crucial. It was thought that simulation would be a good way to deal with system-based problems like identifying safety gaps, developing infection control strategies, and improving clinical management protocols due to its applications in disaster preparedness and crisis resource management. Thus, healthcare has increasingly adopted medical simulation during the pandemic in many ways showing that the pandemic has a positive impact on the market growth.
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.
Technological advancement and innovation in health care facilities across the world has seen Minimally invasive surgery (MIS) to grow as it is viewed as most desirable surgical procedure for years now. MIS play an important role in general surgery as an alternative to traditional open surgery including laparoscopic techniques, cardiac surgeries, gynecology, orthopedic, etc.
According to the research article titled “Comparison of Patient Preference, Understanding, and Sentiment for Minimally Invasive Versus Open Spine Surgery "published in Clinical Spine Surgery, February 2022, long-term outcomes, surgeon's recommendation, and complication risk were the most important criteria identified by patients when choosing between open and minimally invasive surgery (MIS). Patients also perceived MIS surgery to have advantages over open surgery with regard to postoperative pain, complication risk, recovery time, cost, and anesthesia requirement. Most patients seem to prefer a minimally invasive approach to their treatment. Patients view MIS surgery more favourably than open surgery overall. Thus, rise in the demand for the MIS anticipated to drive the medical stimulation market.
Moreover, according to the study titled "Considering simulation training to ensure patient safety for expert anesthesiologists over the age of 60 in Saudi Arabia" published in the Indian Journal of Clincal Anaesthesia in July 2022, In Riyadh, Saudi Arabia, senior anesthesiologists are still actively involved in patient care and their duties, and they feel that simulation can help them recognise and address age-related problems in their work as medical professionals. Determining incompetence, enhancing skills, and assisting anesthesiologists in making plans for their future clinical careers. Therefore, as patient safety concerns increase, physicians may use medical stimulation training as a crucial component of their careers, which will increase demand for medical stimulation products and services.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 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 because of which, the growth of the market studied is expected to propel over the forecast period.
Owing to the high prevalence of chronic cardiac disorders, the adoption rate of the cardiac simulator in hospitals, and research centers is continuously increasing. The rising prevalence of cardiovascular diseases globally, which in turn increases the number of surgeries performed is one of the major drivers boosting the demand for cardiac simulators.
According to the World Health Organization Fact Sheet on cardiovascular Diseases (CVDs), 2021, an estimated 17.9 million people died from CVDs in 2019, representing 32% of all global deaths and out of the 17 million premature deaths (under the age of 70) due to noncommunicable diseases in 2019, 38% were caused by CVDs.
Cardiac Simulation has emerged as a feasible adjunct to surgical education and training for most specialties. As per the 2020 updates of the World Health Organization (WHO), ischemic heart disease is responsible for 16% of the world’s total deaths. As per the article titled “Heart failure (HF) in France: chronic heart failure therapeutic management and risk of cardiac decompensation in real-life setting”, published in February 2020, in France, around one million persons would be affected by heart failure (HF); there are nearly 70,000 deaths related to HF, and more than 150,000 hospitalizations despite well-defined treatment management.
There have been several innovation product launches by the major players in this region which is further increasing the adoption of these cardiac simulators making them more user and budget friendly. For instance, in March 2022, MedLern, a leading digital learning solution for hospitals and healthcare professionals, has unveiled an innovative, online resuscitation training platform that does not require instructor oversight The globally-proven, online programme, HeartCodeComplete is co-developed and powered by the American Heart Association and Laerdal Medical technology.The increasing prevalence of the disease coupled with the growing awareness regarding the minimally invasive treatments and rising nuber of hospitals, worldwide is expected to propel the adoption of cardiac simulator. Thus, due to the above-mentioned reasons cardiac simulator segment is expected to propel over the forecast period.
North America is expected to dominate the market for Medical Simulators over the forecast period. The factors such as the growing diseased population that require surgeries, technological advancements, and the presence of major players in this region are the major contributor to the medical simulator devices.
Additionally, the increasing trend in the number of surgical studies performed is also propelling the growth of the market over the forecast period. For Instance, the research study conducted by researchers of the United States (Dhairya Shukla Sharvil Patel, Lesley Clack, Tyler B. Smith, and Michael S. Shuler) and published in the Annals of Medicine and Surgery Journal in March 2021 reported that in the United States average orthopedic surgical volume increased by 38.04% over the study period of 2016-2019.
According to the World Ageing 2019 report, the United States had about 53.340 million (16.2%) population aged 65 years or over in 2019. This number is projected to reach 70.842 million (20.3%) in 2030. As the number of elderly populations is expected to increase in the future, they are likely to be more prone to chronic conditions, such as cardiovascular, GI (gastrointestinal) disorders, and other diseases, which is expected to increase the demand for MIS, driving market growth.
The major players in this region have launched a number of innovative products, which is boosting the adoption of these stimulating services and goods. For Instance, in June 2019, EBM Corporation launched the “SupeR BEAT” surgical training simulator. This simulator can reproduce the beating of the heart with extreme accuracy using e-Rubber, an innovative material that moves with electricity. additionally, In October 2020, -GIGXR, Inc., a provider of the medical simulator immersive learning System for instructor-led teaching and training, launched the HoloPatient Remote and GIG Mobile for medical and nursing schools. All these developments is expected to have positive impact over the forecast period.
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. some of the market players are 3D Systems, Canadian Aviation Electronics (CAE), Gaumard Scientific Company Inc., Kyoto Kagaku Co. Ltd, Laerdal Medical, Limbs & Things Ltd etc.
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Medical Simulation has played a critical role in response to the COVID-19 pandemic in various medical institutions. Simulation training is deployed at various healthcare institutions throughout the course of the pandemic to refine protocols, facilitate practice changes, uncover safety gaps, and train redeployed healthcare workers in unfamiliar roles. According to the study titled "Implementation of Simulation Training During the COVID-19 Pandemic" published in the Stimulation Healthcare February 2021, in the process of responding to the pandemic, simulation was crucial. It was thought that simulation would be a good way to deal with system-based problems like identifying safety gaps, developing infection control strategies, and improving clinical management protocols due to its applications in disaster preparedness and crisis resource management. Thus, healthcare has increasingly adopted medical simulation during the pandemic in many ways showing that the pandemic has a positive impact on the market growth.
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.
Technological advancement and innovation in health care facilities across the world has seen Minimally invasive surgery (MIS) to grow as it is viewed as most desirable surgical procedure for years now. MIS play an important role in general surgery as an alternative to traditional open surgery including laparoscopic techniques, cardiac surgeries, gynecology, orthopedic, etc.
According to the research article titled “Comparison of Patient Preference, Understanding, and Sentiment for Minimally Invasive Versus Open Spine Surgery "published in Clinical Spine Surgery, February 2022, long-term outcomes, surgeon's recommendation, and complication risk were the most important criteria identified by patients when choosing between open and minimally invasive surgery (MIS). Patients also perceived MIS surgery to have advantages over open surgery with regard to postoperative pain, complication risk, recovery time, cost, and anesthesia requirement. Most patients seem to prefer a minimally invasive approach to their treatment. Patients view MIS surgery more favourably than open surgery overall. Thus, rise in the demand for the MIS anticipated to drive the medical stimulation market.
Moreover, according to the study titled "Considering simulation training to ensure patient safety for expert anesthesiologists over the age of 60 in Saudi Arabia" published in the Indian Journal of Clincal Anaesthesia in July 2022, In Riyadh, Saudi Arabia, senior anesthesiologists are still actively involved in patient care and their duties, and they feel that simulation can help them recognise and address age-related problems in their work as medical professionals. Determining incompetence, enhancing skills, and assisting anesthesiologists in making plans for their future clinical careers. Therefore, as patient safety concerns increase, physicians may use medical stimulation training as a crucial component of their careers, which will increase demand for medical stimulation products and services.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 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 because of which, the growth of the market studied is expected to propel over the forecast period.
Key Market Trends
Cardiac Surgical Simulators is Expected to Grow Fastest during the Forecast Period
Owing to the high prevalence of chronic cardiac disorders, the adoption rate of the cardiac simulator in hospitals, and research centers is continuously increasing. The rising prevalence of cardiovascular diseases globally, which in turn increases the number of surgeries performed is one of the major drivers boosting the demand for cardiac simulators.
According to the World Health Organization Fact Sheet on cardiovascular Diseases (CVDs), 2021, an estimated 17.9 million people died from CVDs in 2019, representing 32% of all global deaths and out of the 17 million premature deaths (under the age of 70) due to noncommunicable diseases in 2019, 38% were caused by CVDs.
Cardiac Simulation has emerged as a feasible adjunct to surgical education and training for most specialties. As per the 2020 updates of the World Health Organization (WHO), ischemic heart disease is responsible for 16% of the world’s total deaths. As per the article titled “Heart failure (HF) in France: chronic heart failure therapeutic management and risk of cardiac decompensation in real-life setting”, published in February 2020, in France, around one million persons would be affected by heart failure (HF); there are nearly 70,000 deaths related to HF, and more than 150,000 hospitalizations despite well-defined treatment management.
There have been several innovation product launches by the major players in this region which is further increasing the adoption of these cardiac simulators making them more user and budget friendly. For instance, in March 2022, MedLern, a leading digital learning solution for hospitals and healthcare professionals, has unveiled an innovative, online resuscitation training platform that does not require instructor oversight The globally-proven, online programme, HeartCodeComplete is co-developed and powered by the American Heart Association and Laerdal Medical technology.The increasing prevalence of the disease coupled with the growing awareness regarding the minimally invasive treatments and rising nuber of hospitals, worldwide is expected to propel the adoption of cardiac simulator. Thus, due to the above-mentioned reasons cardiac simulator segment is expected to propel over the forecast period.
North America is Expected to Dominate the Market Share Over the Forecast Period
North America is expected to dominate the market for Medical Simulators over the forecast period. The factors such as the growing diseased population that require surgeries, technological advancements, and the presence of major players in this region are the major contributor to the medical simulator devices.
Additionally, the increasing trend in the number of surgical studies performed is also propelling the growth of the market over the forecast period. For Instance, the research study conducted by researchers of the United States (Dhairya Shukla Sharvil Patel, Lesley Clack, Tyler B. Smith, and Michael S. Shuler) and published in the Annals of Medicine and Surgery Journal in March 2021 reported that in the United States average orthopedic surgical volume increased by 38.04% over the study period of 2016-2019.
According to the World Ageing 2019 report, the United States had about 53.340 million (16.2%) population aged 65 years or over in 2019. This number is projected to reach 70.842 million (20.3%) in 2030. As the number of elderly populations is expected to increase in the future, they are likely to be more prone to chronic conditions, such as cardiovascular, GI (gastrointestinal) disorders, and other diseases, which is expected to increase the demand for MIS, driving market growth.
The major players in this region have launched a number of innovative products, which is boosting the adoption of these stimulating services and goods. For Instance, in June 2019, EBM Corporation launched the “SupeR BEAT” surgical training simulator. This simulator can reproduce the beating of the heart with extreme accuracy using e-Rubber, an innovative material that moves with electricity. additionally, In October 2020, -GIGXR, Inc., a provider of the medical simulator immersive learning System for instructor-led teaching and training, launched the HoloPatient Remote and GIG Mobile for medical and nursing schools. All these developments is expected to have positive impact over the forecast period.
Competitive Landscape
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. some of the market players are 3D Systems, Canadian Aviation Electronics (CAE), Gaumard Scientific Company Inc., Kyoto Kagaku Co. Ltd, Laerdal Medical, Limbs & Things Ltd etc.
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 3D Systems
- Canadian Aviation Electronics (CAE)
- 3B Scientific GmbH Inc. (Cardionics Inc.)
- Gaumard Scientific Company Inc.
- Kyoto Kagaku Co. Ltd
- Laerdal Medical
- Limbs & Things Ltd
- Medaphor
- Mentice AB
- Nasco
- Operative Experience, Inc.
- Simulab Corporation
- Simulaids Inc.
- VirtaMed AG
Methodology
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