The global medical simulation market is anticipated to grow at a considerable CAGR of 13.3 % during the forecast period (2024-2031). The key companies across the globe are adopting different business strategies including expanding their geographic presence, R&D activities, new product approvals, mergers & acquisitions, partnerships, and collaborations to increase market share. For instance, in April 2020, CAE Inc. had announced the collaboration with Area9 Lyceum, one of the leaders in adaptive learning. This collaboration was done to provide clinicians with an online COVID-19 Ventilator Reskilling course. The company can quickly instruct physicians with varying levels of experience in ventilator control to attain the needed competencies for optimal treatment using the Area9 Lyceum adaptive learning platform. More than 65,000 laboratory experts have been certified on the COVID-19 course established by Area9 Lyceum and renowned laboratory specialists.
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Further, in April 2020, 3D Systems collaborated with Ben Gurion University in Israel and Beer-Sheva University in Israel. The goal of the cooperation was to create training modules that would allow physicians to learn how to use ultrasound equipment to perform quick and accurate lung diagnostics and enhance Covid-19 Triage. Besides, the market growth is mainly attributed to the rise in the number of medical professionals across the globe. As per the estimation of NCBI, there were more than 60 million healthcare workers in the world out of which 1.77 million were skilled ones in 2019. Moreover, as per the estimation of NSSO (National Sample Survey Office), the current estimate of 1.77 million is estimated to reach 2.65 million in 2030. The Sustainable Development Goal 3 on health to have additional 9 million nurses and midwives and initiatives to achieve UHC (Universal health coverage) for the need of 18 million more health workers by 2030 in undeveloped and emerging economies is estimated to drive the growth of the market.
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Market Coverage
- Segment Covered-
o By Products & Services
o By Technology
o By End-Users
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- 3D Systems, Inc., Mentice AB, Moog Inc., Gaumard Scientific Co., Inc., CAE Inc., Laerdal Medical AS, and Kyoto Kagaku Co. Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Medical Simulation Market Report Segment
By Product & Service
- Web-Based Simulation
o Simulation Software
o Performance Recording Software
o Virtual Tours
- Model-Based Simulation
o Patient Simulators
o Ultrasound Simulators
o Surgical Simulators
o Endovascular Simulators
o Others (Dental Simulators and Eye Simulators)
- Simulation Training Services
o Vendor-Based Training
o Educational Societies
o Custom Consulting & Training Services
By Technology
- Low Fidelity Simulators
- Medium Fidelity Simulators
- High Fidelity Simulators
By End Users
- Academic Institutes & Research Centers
- Hospitals
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