The global medical simulation market size is anticipated to expand at a CAGR of 12.3% during the forecast period, 2021–2028. The growth of the market is attributed to increasing technological innovations in the healthcare sector to improve safety.
Medical simulation is also known as clinical simulation, nursing simulation, health simulation, patient simulation, and medical simulation. Medical simulation is a system for training healthcare professionals through advanced education innovation. This system includes simulated characters, scientific articles with complex simulated animations, and assessments of victims, and emergency response measures. Its main goal is to train healthcare professionals to reduce accidents during general-purpose surgical procedures prescribed by doctors. However, it also helps in training students in anatomy and physiology department to work as a full-time health professional. These occupations include nursing, ultrasound scanning, pharmacy assistant, and therapy. Safety is a major issue and concern in the healthcare. It is necessary to control the increase in mortality from medical errors. The emergence of health simulators has greatly reduced the number of deaths worldwide.
Market Trends, Drivers, Restraints, and Opportunities
- Growing demand for minimally invasive treatment is expected to boost the market growth during the forecast period.
- Rapid growth of the healthcare industry is expected to increase demand for medical simulators, driving the market growth.
- Increasing disposable income and investment on healthcare is projected to fuel the growth of the market.
- High cost of treatment and limited funds are expected to restrict the market growth.
- Lack of awareness among people about health safety and updated medical instruments can hamper the market growth during the forecast period.
- R&D investment and technological advancements in medical simulators techniques and instruments are projected to create immense opportunities for the market players.
Key Players
- 3D Systems Inc.
- CAE Inc.
- Gaumard Scientific Company Inc.
- Laerdal Medical
- Kyoto Kagaku Co. Ltd.
Competitive Landscape
Key players competing in the global medical simulation market include 3D Systems Inc., CAE Inc., Gaumard Scientific Company Inc., Laerdal Medical, and Kyoto Kagaku Co. Ltd.
The market is highly consolidated which has encouraged industry players to increase the investment in technology to leverage their market position.
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