Medical Simulation Market - Growth, Trends, and Forecast (2019 - 2024)

SKU ID : INH- 13242152

Publishing Date : 01-Feb-2019

No. of pages : 118


  • Market Overview

    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.

    The requirement of medical simulation in minimally invasive surgery has been established over the past few years. The minimally invasive techniques are becoming the standards of surgical techniques, at a very fast pace, for a number of surgical procedures. These MIS procedures involve smaller incisions leading to quicker recovery, which helps in the growth of the overall market.

    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 barriers to adopting simulation products and services in hospitals include lack of funding, less time for simulation exercises, release from job environment, lack of management interest, etc.

    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 as a result of which, the growth of the market studied is expected to propel over the forecast period.

    Scope of the Report

    As per the scope of the report, medical simulation is the modern day methodology for training healthcare professionals through the use of advanced educational technology. Medical simulation is experiential learning that every healthcare professional may need, but cannot be always engaged in during real-life patient care. The market of medical stimulation is growing with increasing healthcare facilities.

    Key Market Trends

    Laparoscopic Surgical Simulators is the Segment under Interventional/Surgical Simulators that is Expected to Grow the Fastest during the Forecast Period

    Surgeons are found shifting to MIS, primarily laparoscopy and robotic surgery from open surgery. However, the MIS, primarily laparoscopy and robotic surgery, requires skilled surgeons to deliver successful procedures. There has been a rapid adoption of the MIS in the cholecystectomy, appendectomy, gastric bypass, ventral hernia repair, colectomy, prostatectomy,tubal ligation, hysterectomy, and myomectomy procedures. Thus, the increasing MIS surgeries and the need for skilled professionals have propelled the laparoscopic surgical simulators market.

    There are also cardiac surgeries that have been a major challenge for surgeons because of the complex nature of the surgery and the need for highly skilled professionals. Also, there has been a change observed in general surgery training, with the shift from open surgery toward the endovascular and minimally invasive approaches to disease management. Therefore, further simulation is expected to reduce the risks associated with the complex operations of cardiothoracic surgery and help create a more efficient, thorough, and uniform curriculum for cardiothoracic surgery fellowships.

    Asia-Pacific Registered the Fastest Growth and is Expected to follow the Same Trend over the Forecast Period

    Asia-Pacific is projected to exhibit the fastest growth, due to the increasing demand for healthcare simulation and its related services. The emerging economies of India and China are expected to majorly boost the market, due to the growing thrust on medical studies and research. In addition, the ease of doing business in Asian countries is high, due to the availability of high labor and low manufacturing cost. This is an important factor that is estimated to augment the market in Asia-Pacific.

    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.

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    - The market estimate (ME) sheet in Excel format
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    Frequently Asked Questions

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