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Medical Simulation Market by Product & Services, Fidelity and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027

  • ID: 5157260
  • Report
  • August 2020
  • Region: Global
  • 196 pages
  • Allied Analytics LLP

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The global medical simulation market was valued at $1,421.1 million in 2019, and is projected to reach $3,190.2 million by 2027, growing at a CAGR of 14.6% from 2020 to 2027. Medical simulation is virtual duplication of in situ activities or phenomenon, representing functions and properties of a selective real abstract or process. It is used to train healthcare professionals using advanced healthcare technologies. The global medical simulation market was valued at $1,412.1 million in 2019, and is estimated to reach $3,190.2 million by 2027, growing at a CAGR of 14.6% from 2020 to 2027. Rise in use of simulation in healthcare; increase in deaths, owing to medical errors; and necessity to improve patient safety outcomes are some factors that boost the market growth. Moreover, benefits such as training of complex as well as normal cases to professionals and technological advancements in the medical field further increases demand for medical simulation. However, high installation cost and lack of complete real situation restrains the market growth.

Further, COVID-19 has an unprecedented impact on medical education worldwide, leading to cancellation of lectures, exams, clinical rotations, and ultimately temporary closure of medical schools.

In March 2020, the International Nursing Association of Clinical Simulation and Learning (INACSL) and the Society for Simulation in Healthcare (SSH) issued a statement on the 'use of virtual simulation as a replacement for clinical hours’ during the pandemic caused by COVID-19. The use of virtual simulation technologies is likely to be adopted during the pandemic to enhance and strengthen procedural and patient care skills. Further, an increase in use of remote learning with the help of screen-based simulation, augmented reality/AR, mixed reality, blended and/or extended reality, and virtual reality/VR is expected to drive growth of the virtual medical simulation market.

The global medical simulation market is segmented on the basis of product & service, fidelity, end user, and region. On the basis of product & service, it is divided into model-based simulation, web-based simulation, and simulation training services. The model-based simulation segment is further classified into patient simulation, surgical simulation, and ultrasound simulation. Moreover, patient simulation is segmented into task trainers, manikin-based simulators, and standardized patient simulators. Surgical simulation is divided in laparoscopic surgical simulators, arthroscopic surgical simulators, cardiovascular simulators, gynecology simulators, and others. In addition, the web-based simulation segment is classified into simulation software, performance-recording software, and virtual tutors. The simulation training services segment comprise vendor-based training services, custom consulting services, and educational society services. By product & service, the model-based segment generated maximum revenue in 2019, accounting $727.47 million in 2019. Web-based simulation segment is expected to witness highest CAGR of 15.2% during the forecast period. On the basis of fidelity, the market is classified into low-fidelity, medium fidelity, and high-fidelity simulators. By fidelity, the low-fidelity simulators segment dominated the market in 2019 with $671.29 million. High-fidelity segment is expected to witness highest CAGR of 15.3% during the forecast period. By end user, it is divided into academic institutions & research centers, hospitals & clinics, and military organizations. Based on end user, the hospitals segment dominated the market in 2019 with $761.41. Academic institutions segment is expected to witness highest CAGR of 15.3% during the forecast period. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest share in the global medical simulation market. Asia-Pacific is expected to witness highest growth rate throughout the forecast period. Increase use of medical simulation to minimize medical errors and further increase technological advancements by companies are anticipated to drive the overall market growth.

The major players profiled in the report are Laerdal Medical AS, CAE, Inc., 3D Systems, Inc., Simulab Corporation, Simulaids, Inc., Limbs and Things, Ltd., Kyoto Kagaku Co. Ltd., Mentice AB, Surgical Science Sweden AB, and Gaumard Scientific Company, Inc.

Key Benefits for Stakeholders
  • This report entails a detailed quantitative analysis along with the current medical simulation trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.
  • The market forecast is studied from 2020 to 2027.
  • The market size and estimations are based on a comprehensive analysis of key developments in the industry.
  • A qualitative analysis based on innovative products facilitates strategic business planning.
  • The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
Key Market Segments

By Product & Services
  • Model-based Simulation
  • Patient Simulation
  • Task Trainer Simulation
  • Manikin-based Simulation
  • Adult
  • Pediatric
  • Neonatal
  • Hybrid Manikin-based simulation (with AR)
  • Standardized Patient Simulation
  • Surgical Simulation
  • Laparoscopic Surgical Simulators
  • Arthroscopic Surgical Simulators
  • Cardiovascular Simulators
  • Gynecology Simulators
  • Orthopedic Simulators
  • Spine Simulators
  • Endovascular Simulators
  • Others
  • Ultrasound Simulation
  • Anesthesia
  • Cardiology
  • Emergency Medicine
  • Intensive Care Unit
  • OB/GYN
  • Radiology
  • Others (Urology, General Nursing, Pediatrics)
  • Web-based Simulation
  • Simulation Software
  • Performance Recording Software
  • Virtual Tutors
  • Learning Management Software
  • Simulation Training Services
  • Vendor-based Training
  • Custom Consulting Services
  • Educational Societies
By Fidelity
  • Low-fidelity
  • Medium-fidelity
  • High-fidelity
By End User
  • Academic Institutions & Research Centers
  • Hospitals & Clinics
  • Military Organizations
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa
  • Saudi Arabia
  • Rest of LAMEA
Key Market Players
  • 3D Systems
  • CAE Inc.
  • Gaumard Scientific Company
  • Kyoto Kagaku
  • Laedral Medical
  • Limbs and Things
  • Mentice AB
  • Simulab Corporation
  • Simulaids
  • SurgicalScienceSwede
Note: Product cover images may vary from those shown
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models

Chapter 2: Executive Summary
2.1. Key Findings of the Study
2.2. Cxo Perspective

Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Forces Shaping the Global Medical Simulation Market
3.3. Market Share Analysis for Learning Management Software
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Increase in Use of Virtual and Augmented Reality
3.4.1.2. Assured Improvement in Patient Safety Outcomes
3.4.1.3. Benefits of Medical Simulation
3.4.1.4. Technological Advancements in Medical Field
3.4.1.5. Increase in Demand for Virtual Training
3.4.2. Restraints
3.4.2.1. High Cost for Setting Up Simulators
3.4.2.2. Limitation to Imitate a Complete Real Situation
3.4.3. Opportunities
3.4.3.1. Lucrative Opportunities in Emerging Markets
3.5. Impact of Covid-19 on Medical Simulation Market

Chapter 4: Global Medical Simulation Market, by Product & Service
4.1. Overview
4.1.1. Market Size and Forecast
4.2. Model-Based Simulation
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast, by Type
4.2.2.1. Patient Simulation
4.2.2.1.1. Market Size and Forecast
4.2.2.2. Surgical Simulation
4.2.2.2.1. Market Size and Forecast
4.2.2.3. Ultrasound Simulation
4.3. Web-Based Simulation
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast, by Type
4.4. Simulation Training Services
4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast, by Type

Chapter 5: Global Medical Simulation Market, by Fidelity
5.1. Overview
5.1.1. Market Size and Forecast
5.2. High-Fidelity
5.2.1. Market Size and Forecast, by Region
5.3. Medium-Fidelity
5.3.1. Market Size and Forecast, by Region
5.4. Low-Fidelity
5.4.1. Market Size and Forecast, by Region

Chapter 6: Global Medical Simulation Market, by End-user
6.1. Overview
6.1.1. Market Size and Forecast
6.2. Academic Institutions
6.2.1. Market Size and Forecast, by Region
6.3. Hospitals
6.3.1. Market Size and Forecast, by Region
6.4. Military Organizations
6.4.1. Market Size and Forecast, by Region

Chapter 7: Global Medical Simulation, by Region
7.1. Market Size and Forecast
7.2. North America
7.2.1. North America: Market Size and Forecast, by Country
7.2.1.1. U.S. Medical Simulation: Market Size and Forecast
7.2.1.1.1. U.S. Medical Simulation: Market Size and Forecast, by Product & Service
7.2.1.2. U.S. Market Size and Forecast, by Type
7.2.1.2.1. Patient Simulation
7.2.1.2.1.1. Market Size and Forecast
7.2.1.2.2. Manikin-Based Simulation
7.2.1.2.2.1. Market Size and Forecast
7.2.1.2.3. Surgical Simulation
7.2.1.2.3.1. Market Size and Forecast
7.2.1.2.4. Ultrasound Simulation
7.2.1.2.5. Web-Based Simulation
7.2.1.2.5.1. Market Size and Forecast, by Type
7.2.1.2.6. Simulation Training Services
7.2.1.2.6.1. U.S. Medical Simulation: Market Size and Forecast, by Fidelity
7.2.1.2.7. U.S. Medical Simulation: Market Size and Forecast, by End-user
7.2.1.3. Canada Medical Simulation: Market Size and Forecast
7.2.1.3.1. Canada Medical Simulation: Market Size and Forecast, by Product & Service
7.2.1.3.2. Canada Medical Simulation: Market Size and Forecast, by Fidelity
7.2.1.3.3. Canada Medical Simulation: Market Size and Forecast, by End-user
7.2.1.4. Mexico Medical Simulation: Market Size and Forecast
7.2.1.4.1. Mexico Medical Simulation: Market Size and Forecast, by Product & Service
7.2.1.4.2. Mexico Medical Simulation: Market Size and Forecast, by Fidelity
7.2.1.4.3. Mexico Medical Simulation: Market Size and Forecast, by End-user
7.2.2. North America: Market Size and Forecast, by Product & Services
7.2.3. North America: Market Size and Forecast, by Fidelity
7.2.4. North America: Market Size and Forecast, by End-user
7.3. Europe
7.3.1. Europe: Market Size and Forecast, by Country
7.3.1.1. Germany Medical Simulation: Market Size and Forecast
7.3.1.1.1. Germany Medical Simulation: Market Size and Forecast, by Product & Service
7.3.1.1.2. Germany Medical Simulation: Market Size and Forecast, by Fidelity
7.3.1.1.3. Germany Medical Simulation: Market Size and Forecast, by End-user
7.3.1.2. France Medical Simulation: Market Size and Forecast
7.3.1.2.1. France Medical Simulation: Market Size and Forecast, by Product & Service
7.3.1.2.2. France Medical Simulation: Market Size and Forecast, by Fidelity
7.3.1.2.3. France Medical Simulation: Market Size and Forecast, by End-user
7.3.1.3. UK Medical Simulation: Market Size and Forecast
7.3.1.3.1. UK Medical Simulation: Market Size and Forecast, by Product & Service
7.3.1.3.2. UK Medical Simulation: Market Size and Forecast, by Fidelity
7.3.1.3.3. UK Medical Simulation: Market Size and Forecast, by End-user
7.3.1.4. Italy Medical Simulation: Market Size and Forecast
7.3.1.4.1. Italy Medical Simulation: Market Size and Forecast, by Product & Service
7.3.1.4.2. Italy Medical Simulation: Market Size and Forecast, by Fidelity
7.3.1.4.3. Italy Medical Simulation: Market Size and Forecast, by End-user
7.3.1.5. Spain Medical Simulation: Market Size and Forecast
7.3.1.5.1. Spain Medical Simulation: Market Size and Forecast, by Product & Service
7.3.1.5.2. Spain Medical Simulation: Market Size and Forecast, by Fidelity
7.3.1.5.3. Spain Medical Simulation: Market Size and Forecast, by End-user
7.3.1.6. Rest of Europe Medical Simulation: Market Size and Forecast
7.3.1.6.1. Rest of Europe Medical Simulation: Market Size and Forecast, by Product & Service
7.3.1.6.2. Rest of Europe Medical Simulation: Market Size and Forecast, by Fidelity
7.3.1.6.3. Rest of Europe Medical Simulation: Market Size and Forecast, by End-user
7.3.2. Europe: Market Size and Forecast, by Product & Service
7.3.3. Europe: Market Size and Forecast, by Fidelity
7.3.4. Europe: Market Size and Forecast, by End-user
7.4. Asia-Pacific
7.4.1. Asia-Pacific: Market Size and Forecast, by Country
7.4.1.1. Japan Medical Simulation: Market Size and Forecast
7.4.1.1.1. Japan Medical Simulation: Market Size and Forecast, by Product & Service
7.4.1.1.2. Japan Medical Simulation: Market Size and Forecast, by Fidelity
7.4.1.1.3. Japan Medical Simulation: Market Size and Forecast, by End-user
7.4.1.2. China Medical Simulation: Market Size and Forecast
7.4.1.2.1. China Medical Simulation: Market Size and Forecast, by Product & Service
7.4.1.2.2. China Medical Simulation: Market Size and Forecast, by Fidelity
7.4.1.2.3. China Medical Simulation: Market Size and Forecast, by End-user
7.4.1.3. India Medical Simulation: Market Size and Forecast
7.4.1.3.1. India Medical Simulation: Market Size and Forecast, by Product & Service
7.4.1.3.2. India Medical Simulation: Market Size and Forecast, by Fidelity
7.4.1.3.3. India Medical Simulation: Market Size and Forecast, by End-user
7.4.1.4. Australia Medical Simulation: Market Size and Forecast
7.4.1.4.1. Australia Medical Simulation: Market Size and Forecast, by Product & Service
7.4.1.4.2. Australia Medical Simulation: Market Size and Forecast, by Fidelity
7.4.1.4.3. Australia Medical Simulation: Market Size and Forecast, by End-user
7.4.1.5. Rest of Asia-Pacific Medical Simulation: Market Size and Forecast
7.4.1.5.1. Rest of Asia-Pacific Medical Simulation: Market Size and Forecast, by Product & Service
7.4.1.5.2. Rest of Asia-Pacific Medical Simulation: Market Size and Forecast, by Fidelity
7.4.1.5.3. Rest of Asia-Pacific Medical Simulation: Market Size and Forecast, by End-user
7.4.2. Asia-Pacific: Market Size and Forecast, by Product & Service
7.4.3. Asia-Pacific: Market Size and Forecast, by Fidelity
7.4.4. Asia-Pacific: Market Size and Forecast, by End-user
7.5. LAMEA
7.5.1. Lamea: Market Size and Forecast, by Country
7.5.1.1. Brazil Medical Simulation: Market Size and Forecast
7.5.1.1.1. Brazil Medical Simulation: Market Size and Forecast, by Product & Service
7.5.1.1.2. Brazil Medical Simulation: Market Size and Forecast, by Fidelity
7.5.1.1.3. Brazil Medical Simulation: Market Size and Forecast, by End-user
7.5.1.2. South Africa Medical Simulation: Market Size and Forecast
7.5.1.2.1. South Africa Medical Simulation: Market Size and Forecast, by Product & Service
7.5.1.2.2. South Africa Medical Simulation: Market Size and Forecast, by Fidelity
7.5.1.2.3. South Africa Medical Simulation: Market Size and Forecast, by End-user
7.5.1.3. Saudi Arabia Medical Simulation: Market Size and Forecast
7.5.1.3.1. Saudi Arabia Medical Simulation: Market Size and Forecast, by Product & Service
7.5.1.3.2. Saudi Arabia Medical Simulation: Market Size and Forecast, by Fidelity
7.5.1.3.3. Saudi Arabia Medical Simulation: Market Size and Forecast, by End-user
7.5.1.4. Rest of LAMEA Medical Simulation: Market Size and Forecast
7.5.1.4.1. Rest of LAMEA Medical Simulation: Market Size and Forecast, by Product & Service
7.5.1.4.2. Rest of LAMEA Medical Simulation: Market Size and Forecast, by Fidelity
7.5.1.4.3. Rest of LAMEA Medical Simulation: Market Size and Forecast, by End-user
7.5.2. Lamea: Market Size and Forecast, by Product & Service
7.5.3. Lamea: Market Size and Forecast, by Fidelity
7.5.4. Lamea: Market Size and Forecast, by End-user

Chapter 8: Company Profiles
8.1.3D Systems Corporation (Simbionix)
8.1.1. Company Overview
8.1.2. Company Snapshot
8.1.3. Operating Business Segments
8.1.4. Product Portfolio
8.1.5. Business Performance
8.1.6. Key Strategic Moves and Developments
8.2. Cae Inc.
8.2.1. Company Overview
8.2.2. Company Snapshot
8.2.3. Operating Business Segments
8.2.4. Product Portfolio
8.2.5. Business Performance
8.2.6. Key Strategic Moves and Developments
8.3. Gaumard Scientific Company
8.3.1. Company Overview
8.3.2. Company Snapshot
8.3.3. Product Portfolio
8.3.4. Key Strategic Moves and Developments
8.4. Kyoto Kagaku Co. Ltd.
8.4.1. Company Overview
8.4.2. Company Snapshot
8.4.3. Operating Business Segments
8.4.4. Product Portfolio
8.5. Laerdal Medical As
8.5.1. Company Overview
8.5.2. Company Snapshot
8.5.3. Operating Business Segments
8.5.4. Key Strategic Moves and Developments
8.6. Limbs and Things Ltd.
8.6.1. Company Overview
8.6.2. Company Snapshot
8.6.3. Operating Business Segments
8.6.4. Key Strategic Moves and Developments
8.7. Mentice Ab
8.7.1. Company Overview
8.7.2. Company Snapshot
8.7.3. Operating Business Segments
8.7.4. Key Strategic Moves and Developments
8.8. Simulab Corporation
8.8.1. Company Overview
8.8.2. Company Snapshot
8.8.3. Operating Business Segments
8.9. Simulaids Inc.
8.9.1. Company Overview
8.9.2. Company Snapshot
8.9.3. Operating Business Segments
8.9.4. Key Strategic Moves and Developments
8.10. Surgical Science Sweden Ab
8.10.1. Company Overview
8.10.2. Company Snapshot
8.10.3. Business Performance
8.10.4. Key Strategic Moves and Developments
Note: Product cover images may vary from those shown

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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