The global healthcare/medical simulation market reached a value of nearly $1,708.12 million in 2021, having grown at a compound annual growth rate (CAGR) of 7.97% since 2016. The market is expected to grow from $1,708.12 million in 2021 to $3,576.78 million in 2026 at a rate of 15.93%. The market is then expected to grow at a CAGR of 14.96% from 2026 and reach $7,181.76 million in 2031.
Growth in the historic period resulted from rising demand for minimally invasive surgical procedures, growing use of advanced methods and approaches for providing medical education, increase in mortality as a result of medical mistakes, and increasing demand for virtual training interaction due to the covid-19 pandemic. Factors that negatively affected growth in the historic period were limited availability of funding and lack of awareness.
Going forward, product launches and innovations, technology advancements in medical field, limited access to patients during medical training and increasing demand for minimally invasive treatments will drive the growth. Factors that could hinder the growth of the healthcare/medical simulation market in the future include lack of dedicated simulation operations specialists and the expensive cost of medical simulation.
The healthcare/medical simulation market is segmented by product and service into healthcare anatomical models, web-based simulation, healthcare simulation software and simulation training services. The healthcare anatomical models market was the largest segment of the healthcare/medical simulation market segmented by product and service, accounting for 55.69% of the total in 2021. Going forward, the web-based simulation segment is expected to be the fastest growing segment in the healthcare/medical simulation market segmented by product and service, at a CAGR of 17.29% during 2021-2026.
The healthcare/medical simulation market is segmented by end-user into academic institutes, hospitals, military organizations and other end-users. The academic institutes market was the largest segment of the healthcare/medical simulation market segmented by end-user, accounting for 42.06% of the total in 2021. Going forward, the academic institutes segment is expected to be the fastest growing segment in the healthcare/medical simulation market segmented by end-user, at a CAGR of 16.52% during 2021-2026.
The healthcare/medical simulation market is also segmented by technology into high-fidelity simulators, medium-fidelity simulators and low-fidelity simulators. The high-fidelity simulators market was the largest segment of the healthcare/medical simulation market segmented by technology, accounting for 41.64% of the total in 2021. Going forward, high-fidelity simulators segment is expected to be the fastest growing segment in the healthcare/medical simulation market segmented by technology, at a CAGR of 16.56% during 2021-2026.
North America was the largest region in the healthcare/medical simulation market, accounting for 33.72% of the total in 2021. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the healthcare/medical simulation market will be Asia Pacific and North America where growth will be at CAGRs of 18.53% and 17.44% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 14.94% and 13.32% respectively.
The healthcare/medical simulation market is consolidated, with small number of large players. The top ten competitors in the market made up to 45.37% of the total market in 2021. The market is expected to be change in near future with the adoption of acquisition and merger strategies by the players to enter and expand into newer geographies. Surgical Science was the largest competitor with 17.18% of the market, followed by CAE Inc. with 8.86%, Laerdal Medical with 8.64%, Gaumard Scientific with 3.67%, 3B Scientific with 1.84%, Altay Scientific with 1.71%, Simulab Corporation with 1.22%, 3D Systems with 1.00%, Limbs & Things with 0.87%, and Kyoto Kagaku Co. Ltd. with 0.38%.
The top opportunities in the healthcare/medical simulation market segmented by product and service will arise in the healthcare anatomical models segment, which will gain $979.69 million of global annual sales by 2026. The top opportunities in the healthcare/medical simulation market segmented by end-user will arise in the academic institutes segment, which will gain $824.85 million of global annual sales by 2026. The top opportunities in the healthcare/medical simulation market segmented by technology will arise in the high-fidelity simulators segment, which will gain $818.78 million of global annual sales by 2026. The healthcare/medical simulation market size will gain the most in the USA at $608.30 million.
Market-trend-based strategies for the healthcare/medical simulation market include product innovation, development of advanced procedure simulators, increasing usage of augmented reality, proliferation of 3D printing technology and an increase in acquisition activity.
Player-adopted strategies in the healthcare/medical simulation market include expanding product portfolio and business through strategic acquisition, collaboration and partnerships and strengthening business position through new product launches.
To take advantage of the opportunities, the publisher recommends healthcare/medical simulation companies to focus on product innovations, focus on development of advanced procedure simulators, use virtual reality and augmented reality, use 3D printing technology, expand in emerging markets, increase focus on mergers and acquisitions, offer competitive pricing, continue to use B2B promotions, continue to participate in events and conferences and target fast-growing end-users.
This report describes and explains the healthcare/medical simulation market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period resulted from rising demand for minimally invasive surgical procedures, growing use of advanced methods and approaches for providing medical education, increase in mortality as a result of medical mistakes, and increasing demand for virtual training interaction due to the covid-19 pandemic. Factors that negatively affected growth in the historic period were limited availability of funding and lack of awareness.
Going forward, product launches and innovations, technology advancements in medical field, limited access to patients during medical training and increasing demand for minimally invasive treatments will drive the growth. Factors that could hinder the growth of the healthcare/medical simulation market in the future include lack of dedicated simulation operations specialists and the expensive cost of medical simulation.
The healthcare/medical simulation market is segmented by product and service into healthcare anatomical models, web-based simulation, healthcare simulation software and simulation training services. The healthcare anatomical models market was the largest segment of the healthcare/medical simulation market segmented by product and service, accounting for 55.69% of the total in 2021. Going forward, the web-based simulation segment is expected to be the fastest growing segment in the healthcare/medical simulation market segmented by product and service, at a CAGR of 17.29% during 2021-2026.
The healthcare/medical simulation market is segmented by end-user into academic institutes, hospitals, military organizations and other end-users. The academic institutes market was the largest segment of the healthcare/medical simulation market segmented by end-user, accounting for 42.06% of the total in 2021. Going forward, the academic institutes segment is expected to be the fastest growing segment in the healthcare/medical simulation market segmented by end-user, at a CAGR of 16.52% during 2021-2026.
The healthcare/medical simulation market is also segmented by technology into high-fidelity simulators, medium-fidelity simulators and low-fidelity simulators. The high-fidelity simulators market was the largest segment of the healthcare/medical simulation market segmented by technology, accounting for 41.64% of the total in 2021. Going forward, high-fidelity simulators segment is expected to be the fastest growing segment in the healthcare/medical simulation market segmented by technology, at a CAGR of 16.56% during 2021-2026.
North America was the largest region in the healthcare/medical simulation market, accounting for 33.72% of the total in 2021. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the healthcare/medical simulation market will be Asia Pacific and North America where growth will be at CAGRs of 18.53% and 17.44% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 14.94% and 13.32% respectively.
The healthcare/medical simulation market is consolidated, with small number of large players. The top ten competitors in the market made up to 45.37% of the total market in 2021. The market is expected to be change in near future with the adoption of acquisition and merger strategies by the players to enter and expand into newer geographies. Surgical Science was the largest competitor with 17.18% of the market, followed by CAE Inc. with 8.86%, Laerdal Medical with 8.64%, Gaumard Scientific with 3.67%, 3B Scientific with 1.84%, Altay Scientific with 1.71%, Simulab Corporation with 1.22%, 3D Systems with 1.00%, Limbs & Things with 0.87%, and Kyoto Kagaku Co. Ltd. with 0.38%.
The top opportunities in the healthcare/medical simulation market segmented by product and service will arise in the healthcare anatomical models segment, which will gain $979.69 million of global annual sales by 2026. The top opportunities in the healthcare/medical simulation market segmented by end-user will arise in the academic institutes segment, which will gain $824.85 million of global annual sales by 2026. The top opportunities in the healthcare/medical simulation market segmented by technology will arise in the high-fidelity simulators segment, which will gain $818.78 million of global annual sales by 2026. The healthcare/medical simulation market size will gain the most in the USA at $608.30 million.
Market-trend-based strategies for the healthcare/medical simulation market include product innovation, development of advanced procedure simulators, increasing usage of augmented reality, proliferation of 3D printing technology and an increase in acquisition activity.
Player-adopted strategies in the healthcare/medical simulation market include expanding product portfolio and business through strategic acquisition, collaboration and partnerships and strengthening business position through new product launches.
To take advantage of the opportunities, the publisher recommends healthcare/medical simulation companies to focus on product innovations, focus on development of advanced procedure simulators, use virtual reality and augmented reality, use 3D printing technology, expand in emerging markets, increase focus on mergers and acquisitions, offer competitive pricing, continue to use B2B promotions, continue to participate in events and conferences and target fast-growing end-users.
This report describes and explains the healthcare/medical simulation market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
Table of Contents
1. Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure
6. Introduction and Market Characteristics
7. Major Market Trends
8. Global Market Size And Growth
9. Global Market Segmentation
10. Global Market Regional And Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Healthcare/Medical Simulation Market, Conclusions And Recommendations
22. Appendix
Executive Summary
Healthcare/Medical Simulation Global Market Opportunities and Strategies To 2031 from the publisher provides the strategists; marketers and senior management with the critical information they need to assess the global healthcare/medical simulation market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates
- Create regional and country strategies on the basis of local data and analysis
- Identify growth segments for investment
- Outperform competitors using forecast data and the drivers and trends shaping the market
- Understand customers based on the latest market research findings
- Benchmark performance against key competitors
- Utilize the relationships between key data sets for superior strategizing
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider healthcare/medical simulation market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the healthcare/medical simulation market
- Key Trends - Highlights the major trends shaping the global healthcare/medical simulation market. This section also highlights likely future developments in the market
- Global Market Size and Growth - Global historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods
- Regional And Country Analysis - Historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values and growth and market share comparison by region and country
- Market Segmentation - Contains the market values (2016-2031) and analysis for segment by product and service, by end-user, and by technology in the market
- Regional Market Size and Growth - Regional market size (2021), historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets
- Conclusions And Recommendations - Includes recommendations for healthcare/medical simulation providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report
Scope
Markets Covered
- 1) By Product And Service: Healthcare Anatomical Models; Web-Based Simulation; Healthcare Simulation Software; Simulation Training Services
- 2) By End-User: Academic Institutes; Hospitals; Military Organizations; Other End-Users
- 3) By Technology: High-Fidelity Simulators; Medium-Fidelity Simulators; Low-Fidelity Simulators
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; healthcare/medical simulation indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Surgical Science
- CAE Inc.
- Laerdal Medical
- Gaumard Scientific
- 3B Scientific
- Altay Scientific
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 269 |
| Published | November 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1708.12 Million |
| Forecasted Market Value ( USD | $ 7181.76 Million |
| Compound Annual Growth Rate | 15.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
