Global Medical Simulation Market to expand significantly by 2026

July 08, 2020

According to the research report titled ‘Global Medical Simulation Market Size study with COVID-19 impact, by Product & Services (Model-Based Simulation, Web-Based Simulation, Simulation Training Services), by Fidelity (Low-Fidelity, Medium-Fidelity, High-Fidelity), by End-User (Hospital & Clinics, Academic Institute & Research Centers, Military Organizations) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global medical simulation market is expected to register substantial growth during 2020-2026.

For those uninitiated, medical simulation allows better understanding and monitoring of clinical conditions. It is a reality model that offers duplication of clinical situations by using role playing, mannequins and collaborative videos. It enables medical learners or practitioner to make use of skills and role-play under various circumstances without causing harm to patients, which further helps in reducing stress during real-life surgeries.

Increasing mortality rate due to medical errors along with rising number of enrollments in medical schools are prime factors fueling the medical simulation market growth. In fact, medical blunders are third leading cause of deaths in the United States after cancer and heart disease. According to the study by Johns Hopkins, around 250,000 people die per year from medical errors in the U.S. Likewise, Harvard University states that up to 5.2 million medical errors occur in India annually.

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The COVID-19 pandemic has impelled the demand for studying the health outcomes and pathology of the virus, which in turn is creating lucrative growth avenues for leading companies in medical simulation market. However, absence of collaborative experiences and high costs associated with installation of medical simulation solutions may act as restraining factors to the overall market growth.

As per product & services type, global medical simulation industry is bifurcated into simulation training services, web-based simulation and model-based simulation. In terms of fidelity, the market is split into high-fidelity, medium-fidelity and low-fidelity. The end-user scope of medical simulation market comprises of military organizations, academic institute & research centers and hospitals & clinics.

Considering the geographical landscape, North America medical simulation industry is predicted to expand substantially during the forecast period. Inclination of medical professionals towards hands-on patient training solutions and rising adoption of non-invasive technologies are favoring the market scenario in North America. Growing demand for simulation tools in medical universities and training centers is also complementing the business outlook in the region.

Surgical Science Sweden AB, Simulaids Inc., Simulab Corporation, Mentice AB, Limbs and Things Ltd., Laerdal Medical AS, Kyoto Kagaku Co. Ltd., Gaumard Scientific Company, CAE Inc. and 3D Systems Corporation (Simbionix) are the key participants in worldwide medical simulation market.

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