Medical Simulation Market (By Products & Services: Healthcare Anatomical Models, Web Based Simulators, Healthcare Simulation Software, Simulation Training Services; By End-use: Academic Institutes, Hospitals, Military Organization, Research) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20212030

The global Medical Simulation market size is expected to be worth around US$ 7.25 billion by 2030, according to a new report by Vision Research Reports.

The global Medical Simulation market size was valued at US$ 2.36 billion in 2020 and is anticipated to grow at a CAGR of 26.3% during forecast period 2021 to 2030.

Medical Simulation Market Size 2021 to 2030

Report Coverage

Report Scope Details
Market Size US$ 7.25 Billion by 2030
Growth Rate CAGR of 26.3% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Products & Services, End-use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Canadian Aviation Electronics, Ltd.; Laerdal Medical AS; Kyoto Kagaku Co, Ltd., Limbs & Things, Ltd.; Mentice AB; Simulab Corporation; Simulaids, Inc.; Gaumard Scientific Company, Inc.; 3D Systems, Inc.; and Surgical Science Sweden AB

Growth Factors

Rapid technological advancements, spiraling demand for minimally invasive treatment procedures, and increasing focus on patient safety are providing a fillip to the market.

Patient safety is one of the rising concerns in the healthcare industry due to increasing death rate from medical errors. For instance, as per a study published in 2016 by patient safety researchers in the British Medical Journal, medical errors in hospitals and other healthcare facilities are reported to be the 3rd leading cause of deaths in the U.S. Simulation provides opportunity to sharpen skills and develop expertise for safe and reliable system performance. High risk situations in military and aviation operations require specialized and polished skills for handling emergency situations. Thus, simulated settings help practitioners learn from mistakes by avoiding harm caused to patients. Therefore, growing focus on patient safety is expected to drive the healthcare simulation market.

Report Highlights

Based on products & services, the medical simulation market is segmented into healthcare anatomical models, web based simulators, healthcare simulation software, and simulation training services. Healthcare anatomical models were the leading segment in 2017. The segment is poised to retain its dominance through 2025 owing to wide applications in several fields such as academics, training & practicing in hospitals, and military organizations.

Healthcare anatomical models can be further divided into patient simulators, task trainers, interventional/surgical, endovascular, ultrasound, dental, and eye simulators. Among these, patient simulators are estimated to witness the highest growth rate over the forecast period owing to its several advantages such as understanding of abstract concepts & gaining practical knowledge and wide range of applicability in various fields such as military organizations & academic institutes.

Based on the end use, the market is segmented into academic institutes, hospitals, military organizations, and research and development. Versatile applicability and increasing demand for minimally invasive procedures are expected to contribute to the growth of the hospitals and academic institutes segments.

Academic institutes are expected to dominate the medical simulation market throughout the forecast horizon. Growing focus on patient safety and lack of appropriate knowledge for minimally invasive surgeries are anticipated to stir up the demand for medical trainings in academic institutes during the forecast period.

North America dominated the market in 2020, followed by Europe. In North America, the market is driven by rising medical training institutes and hospitals, which are mainly focusing on standardizing their teaching practices to enhance patient safety. Rising geriatric population in the U.S. & Canada and increasing number of patient admissions in hospitals are projected to fuel the demand for patient safety and proper treatment, which in turn, is likely to supplement the growth of the regional healthcare simulation market.

Asia Pacific is poised to exhibit the fastest growth due to soaring demand for medical simulation and related services and increasing government spending on healthcare research. In addition, China is considered a home for producing low cost electronic chips, simulator models’ parts & components, software, and anatomical models. Ease of doing business in Asian countries is high due to availability of huge labor and low manufacturing cost. This is an important factor estimated to augment the market in Asia Pacific.

Key Players

Canadian Aviation Electronics, Ltd.; Laerdal Medical AS; Kyoto Kagaku Co, Ltd., Limbs & Things, Ltd.; Mentice AB; Simulab Corporation; Simulaids, Inc.; Gaumard Scientific Company, Inc.; 3D Systems, Inc.; and Surgical Science Sweden AB.

Market Segmentation

  • Products & Services Outlook 

    • Healthcare Anatomical Models

      • Patient Simulators

      • Task Trainers

      • Interventional/Surgical Simulators

      • Endovascular Simulators

      • Ultrasound Simulators

      • Dental Simulators

      • Eye Simulators

    • Web Based Simulators

    • Healthcare Simulation Software

    • Simulation Training Services

  • End-use Outlook 

    • Academic Institutes

    • Hospitals

    • Military Organization

    • Research

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • The U.K.

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Mexico

      • Brazil

    • MEA

      • South Africa

The Medical Simulation market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Medical Simulation market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Medical Simulation market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Simulation market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Simulation market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Medical Simulation capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Medical Simulation by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Simulation market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Simulation market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Simulation market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Medical Simulation industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Medical Simulation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Simulation market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Simulation market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Simulation market. These factors have benefited the growth of the global market for Medical Simulation. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Simulation. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Medical Simulation are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Medical Simulation Market, By Products & Services

7.1.  Medical Simulation Market, by Products & Services, 2021-2030

7.1.1.    Healthcare Anatomical Models

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Web Based Simulators

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Healthcare Simulation Software

7.1.3.1.        Market Revenue and Forecast (2017-2030)

7.1.4.    Simulation Training Services

7.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Medical Simulation Market, By End-use

8.1.  Medical Simulation Market, by End-use, 2021-2030

8.1.1.    Academic Institutes

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Hospitals

8.1.2.1.        Market Revenue and Forecast (2017-2030)

8.1.3.    Military Organization

8.1.3.1.        Market Revenue and Forecast (2017-2030)

8.1.4.    Research

8.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Medical Simulation Market, Regional Estimates and Trend Forecast

9.1.  North America

9.1.1.    Market Revenue and Forecast, by Products & Services (2017-2030)

9.1.2.    Market Revenue and Forecast, by End-use (2017-2030)

9.1.3.    U.S.

9.1.3.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.1.3.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.1.4.    Rest of North America

9.1.4.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.1.4.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.2.  Europe

9.2.1.    Market Revenue and Forecast, by Products & Services (2017-2030)

9.2.2.    Market Revenue and Forecast, by End-use (2017-2030)

9.2.3.    UK

9.2.3.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.2.3.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.2.4.    Germany

9.2.4.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.2.4.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.2.5.    France

9.2.5.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.2.5.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.2.6.    Rest of Europe

9.2.6.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.2.6.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.3.  APAC

9.3.1.    Market Revenue and Forecast, by Products & Services (2017-2030)

9.3.2.    Market Revenue and Forecast, by End-use (2017-2030)

9.3.3.    India

9.3.3.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.3.3.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.3.4.    China

9.3.4.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.3.4.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.3.5.    Japan

9.3.5.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.3.5.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.3.6.    Rest of APAC

9.3.6.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.3.6.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.4.  MEA

9.4.1.    Market Revenue and Forecast, by Products & Services (2017-2030)

9.4.2.    Market Revenue and Forecast, by End-use (2017-2030)

9.4.3.    GCC

9.4.3.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.4.3.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.4.4.    North Africa

9.4.4.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.4.4.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.4.5.    South Africa

9.4.5.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.4.5.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.4.6.    Rest of MEA

9.4.6.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.4.6.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.5.  Latin America

9.5.1.    Market Revenue and Forecast, by Products & Services (2017-2030)

9.5.2.    Market Revenue and Forecast, by End-use (2017-2030)

9.5.3.    Brazil

9.5.3.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.5.3.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.5.4.    Rest of LATAM

9.5.4.1.        Market Revenue and Forecast, by Products & Services (2017-2030)

9.5.4.2.        Market Revenue and Forecast, by End-use (2017-2030)

Chapter 10.  Company Profiles

10.1.              Canadian Aviation Electronics, Ltd

10.1.1.  Company Overview

10.1.2.  Products & Services Offerings

10.1.3.  Financial Performance

10.1.4.  Recent Initiatives

10.2.              Laerdal Medical AS

10.2.1.  Company Overview

10.2.2.  Products & Services Offerings

10.2.3.  Financial Performance

10.2.4.  Recent Initiatives

10.3.              Kyoto Kagaku Co, Ltd

10.3.1.  Company Overview

10.3.2.  Products & Services Offerings

10.3.3.  Financial Performance

10.3.4.  Recent Initiatives

10.4.              Limbs & Things, Ltd.

10.4.1.  Company Overview

10.4.2.  Products & Services Offerings

10.4.3.  Financial Performance

10.4.4.  Recent Initiatives

10.5.              Mentice AB

10.5.1.  Company Overview

10.5.2.  Products & Services Offerings

10.5.3.  Financial Performance

10.5.4.  Recent Initiatives

10.6.              Simulab Corporation

10.6.1.  Company Overview

10.6.2.  Products & Services Offerings

10.6.3.  Financial Performance

10.6.4.  Recent Initiatives

10.7.              Simulaids, Inc

10.7.1.  Company Overview

10.7.2.  Products & Services Offerings

10.7.3.  Financial Performance

10.7.4.  Recent Initiatives

10.8.              Gaumard Scientific Company

10.8.1.  Company Overview

10.8.2.  Products & Services Offerings

10.8.3.  Financial Performance

10.8.4.  Recent Initiatives

10.9.              3D Systems

10.9.1.  Company Overview

10.9.2.  Products & Services Offerings

10.9.3.  Financial Performance

10.9.4.  Recent Initiatives

10.10.           Surgical Science Sweden AB

10.10.1.               Company Overview

10.10.2.               Products & Services Offerings

10.10.3.               Financial Performance

10.10.4.               Recent Initiatives

Chapter 11.  Research Methodology

11.1.              Primary Research

11.2.              Secondary Research

11.3.              Assumptions

Chapter 12.  Appendix

12.1.              About Us

12.2.              Glossary of Terms

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