Global Medical Simulation Market By Product and Services (Healthcare Anatomical Models, Web-Based Simulation, Medical Simulation, Simulation Training Services, and Healthcare Services), By Technology (Virtual Patient Simulation, 3D Printing, and Procedure Rehearsal Technology), By End-User, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The global medical simulation market size is expected to be worth around USD 8,397.4 million by 2032 from USD 2,078.1 million in 2023, growing at a CAGR of 15.4% during the forecast period from 2023 to 2032.

Medical Simulation is a branch of simulation related to training and education in medical fields of various industries. Medical simulation creates a safe learning environment where researchers and practitioners can test novel clinical processes and improve their teams and individuals. It is a training strategy where healthcare workers use virtual simulation models to practice activities and procedures in real-life scenarios.

The medical simulation aims to influence and train healthcare professionals to perform surgery, prescription, and general practice. Medical simulation involves human and artificial simulated patient and their combination to create an artificial representation of the clinical scenarios. Medical simulation is also called clinical simulation or healthcare simulation. It is a modern method that each healthcare practitioner will acquire. But not always capable of partaking in real-life patient care. The rise in medical simulation usage is primarily due to medical errors and increased simulation use.

Key Takeaways

• Market Growth Projection: The global medical simulation market is expected to reach USD 8,397.4 million by 2032, growing at a CAGR of 15.4% from 2023 to 2032.
• Healthcare Anatomical Models: Patient simulators, task trainers, and surgical simulators are driving growth in the healthcare anatomical models segment.
• Procedural Rehearsal Technology: Procedural rehearsal technology holds the largest market share at 41.6%, driven by the need for patient safety and technological advancements.
• Academic Institutes Dominance: Academic institutes dominate the end-user segment due to research on biological systems and computer modeling.
• Technological Advancements: Growing technological advancements, the shift towards minimally invasive treatments, and a focus on patient safety are key market drivers.
• Simulation Training Awareness in Emerging Economies: Emerging economies like India and China offer significant growth opportunities due to increasing awareness and investments in healthcare.
• Minimally Invasive Treatment Trend: The market trends toward increased minimally invasive treatments and improved healthcare infrastructure.
• North America Leads: North America accounts for 48% of the global market, driven by high technology investments and regional players.

Product and Services Analysis

Healthcare Anatomical Model Segment to Witness Significant Growth

Based on products and services, the global medical simulation market is segmented into healthcare anatomical simulation models, web-based simulation, medical simulation, simulation training services, and healthcare simulation services. In addition, the healthcare anatomical model segment is sub-segmented into patient simulators, task trainers, interventional /surgical simulators, and ultrasound simulators.

As a result, the healthcare anatomical models segment accounted for the highest revenue share of 30% in 2022. these simulators are shown to be helpful in the research and manufacturing industry for leading trials, combinations, and permutations before processes, and finalizing the design, particularly in the medical devices industry. These factors are projected to contribute to the segment’s growth during the forecast period.

Technology Analysis

The procedural Rehearsal Technology Segment Dominates the Market

Based on the technology, the medical simulation market is divided into virtual patient simulation, 3D Printing, and procedural rehearsal technology. The procedural rehearsal technology segment registers the highest market revenue share of 41.6%. The need for procedural rehearsal technology is projected to grow due to the rise in the number of medical mistakes and the resulting requirement for patient safety.

In addition, industry participants are working on technological advances, which are anticipated to boost market expansion. As a result, the virtual patient simulation market is expected to grow at the fastest CAGR technology, with several academic program users during the anticipated period.

End-User Analysis

Academics Institutes Segment Dominate the Market Growth

Based on the end-user, the global medical simulation market is divided into academic institutes, hospitals, military organizations, and research. The academic institutes’ segment dominates the market share growth due to the continuous growth of various academic research groups involved in studying complex biological systems using computer models.

The hospital segment is anticipated to witness the fastest growth rate due to a gradual shift to advanced learning and the advent of simulation-based technologies. Completing utilization of simulation models in medical surgeries, the cost-effectiveness of procedural training for medical physicians, and rising focus on minimizing errors.

Key Market Segments

By Products and Services

• Healthcare Anatomical Models
• Patient Simulators
• Task Trainers

Interventional / Surgical Simulators

• Endovascular Simulators
• Ultrasound Simulators
• Dental Simulators
• Eye Simulators
• Web-Based Simulation
• Medical Simulation
• Performance Recording Software
• Virtual Tutors
• Simulation Training Services
• Healthcare Simulation Services

By Technology

• Virtual Patient Simulation
• 3D Printing
• Procedural Rehearsal Technology

By End-User

• Academic Institutes
• Hospitals
• Military Organization
• Research

Drivers

Growing Technological Advancements

The market is estimated to develop due to factors such as increasing technological advancements, the choice for less invasive treatments, and a focus on patient safety. Various market participants have been adversely affected by the COVID-19 pandemic. The rise in medical simulation is primarily due to the use of simulation in healthcare due to medical errors and the necessity to develop patient safety outcomes. In addition, the advancements in surgical tools for R&D have raised public awareness for minimally invasive surgical methods.

Improve the skilled training of Healthcare Workers

Non-government and government measures to improve healthcare workers’ skills contribute to market growth. For instance, The Bob Waters Memorial Scholarship Fund was established by the Advanced Initiative in Medical Simulation Board to benefit students to help in healthcare simulation every year by offering incentives. The market key players are anticipated to benefit from technical developments in the medical research industry and the rise in the number of market players.

Restraints

Poorly Designed Medical Simulators

Poorly designed simulators may lead to destructive learning, which can further lead to medical mistakes in the future. For example, if physiological and physical symptoms are missing in the simulation, students may neglect to check for these symptoms. Simulation-based education may also inspire shortcuts. Such as, neglecting patient approval and safety processes may faster artificial skills rather than honest skills. Participants will constantly approach a simulator differently from real life, affecting the learners’ attitudes.

Opportunity

Increasing Awareness About Simulation Training in Emerging Economies

Simulation for medical education in well-resourced settings has grown exponentially but remains uncommon in low countries.  Developing countries such as India and China are anticipated to provide immense growth opportunities for the key medical simulation market players. The increasing private investments and the increasing number of medical institutions are the major factors boosting the market growth in the countries. In addition, the growth of the healthcare industry in emerging economies is driven by increasing government investments in public and private collaborations in medicine, which provide a favorable environment for the market.

Trends

Increasing Minimally Invasive Treatment is the Significant Trend in the Market

The improved healthcare infrastructure developed over the years with a rise in dominance of unmet healthcare demand and increased medical mistakes has resulted in novel trends to increase in emerging healthcare markets. In addition, an increasing number of medical care companies are offering several minimally invasive treatments for key players in the market. Over the upcoming few years, which will facilitate market development and offer many trends in the near future.

Regional Analysis

North America Region Accounted Significant Revenue Share of the Global Medical Simulation Market

North America accounted for a significant medical simulation market revenue share of 48%. Numerous factors, such as the high investments in technology and the incidence of key regional players, can recognize the market growth. Furthermore, rapid technological developments and high disposable income are some of the factors anticipated to propel the market growth during the forecast period. The Asia-Pacific segment is projected to witness substantial growth during the forecast period due to the continuous developments in healthcare infrastructure. Additionally, the increasing approval of healthcare facilities pooled with the rapid increase of manufacturing services is fueling the market growth.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Dealers invest in product launches, collaborative agreements, and acquisitions and merges to sustain the market. As a result, the market is anticipated to become highly competitive as many startups seek opportunities in this sector. Some prominent players in the market include CAE Healthcare, Inc., Laderdal Medical, 3D Systems, Inc., Simulaids, Inc., Mentice AB, and other key players.

Major Key Players

• CAE Healthcare, Inc.
• Laderdal Medical
• 3D Systems, Inc.
• Simulab Corporation
• Limbs &Things Ltd
• Kyoto Kagaku Co, Ltd.
• Mentice AB
• Surgical Science Sweden AB
• Gaumard Scientific
• Intelligent Ultrasound Limited
• Cardionics, Inc.
• Inovus Medical
• Other Key Players

Recent Development

• August 2022- Ingmar Medical announced the launch of RespiPro, its next-generation respiratory and ventilation training solution.
• May 2021– With the announcement of CAE Vimedix 3.2m, a novel product from CAE Inc., the CAE Vimedix simulation now delivers improved ultrasonography realism and multiplaner reconstruction.
• May 2021– Intelligent Ultrasound Group Plc. declared the launch of ScanNav PNB in the UK after receiving CE mark acceptance.

Report Scope