Global Medical Simulation Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Medical Simulation Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Medical simulation is the creation of real-world situations so that healthcare providers can learn, practice, and assess their medical skills in a safe environment. Medical Simulation includes: Medical Anatomical Models, CPR Training Manikins, Medical Simulation Software, Simulation Training Services, and more.

Market Overview:

The latest research study on the global Medical Simulation market finds that the global Medical Simulation market reached a value of USD 2764.25 million in 2023. It’s expected that the market will achieve USD 5468.73 million by 2029, exhibiting a CAGR of 12.04% during the forecast period.

Increasing attention to patient safety

Judging from most of the current simulation experiments, the prospect of simulation-based medical training provides useful opportunities for reducing the risks of patients and learners, improving learners' abilities and confidence, improving patient safety, and reducing healthcare costs. According to the NIH, medical errors are a serious public health problem and a leading cause of death in the United States. Each year, about 400,000 hospitalized patients experience some kind of preventable injury. The tension of the medical environment, the seasonality of disease occurrence, the non-reproducibility of critical states, and the lack of rare diseases are the shortcomings of current traditional clinical practice, and the emergence of medical simulation largely fills these shortcomings. The simulation reproduces the clinical scene, is repeatable, is not restricted by time and place, and cultivates teamwork. The most important thing is that invasive operations are performed on simulated humans, models, and animals to ensure patient safety. Therefore, as patient safety concerns increase, physicians are likely to make medical simulation training an important part of their careers, which will increase the demand for medical simulation products and services.

Region Overview:

United States is projected to account for a considerable share of the Medical Simulation market and is expected to become the largest region by 2028.

Company Overview:

Canadian Aviation Electronics (CAE) is one of the major players operating in the Medical Simulation market, holding a share of 7.88% in 2023.

CAE Inc. was established in 1947. It is a Canadian computer simulation technology service company with branches in more than 30 countries around the world. The company's main business includes aviation flight simulation, mining development simulation, and medical training equipment. CAE Healthcare provides educational tools to help healthcare professionals provide safe, high-quality patient care. CAE’s range of end-to-end simulation solutions includes patients, interventional and imaging simulations, audiovisual solutions and learning applications.

Laerdal is a company that develops products and programs for global healthcare providers, voluntary organizations, educational institutions, hospitals and the military. Laerdal understands that PVC is suitable for casting toys and dolls. Due to its experience in soft plastics, Laerdal designed natural-looking imitation wounds for military training as required and developed the world's first patient simulator.

Segmentation Overview:

By type, Medical Anatomical Models segment accounted for the largest share of market in 2022.

Medical anatomical models can be used as a quick reference guide for all parts of the human body. They are the perfect guide to explain the internal organs and the overall structure of the body, as well as provide an explanation of the external organs. They can be used for self-reference or when consulting patients for diagnosis. In the field of medicine or healthcare, Medical anatomical models can be used as an educational device.

CPR Manikins are medical training equipment used to teach advanced medical procedures, and rescue exercises such as CPR. Adult, child and infant manikins are available.

Utilizing advanced technologies such as virtual reality, 3D modeling, and real-time analytics, medical simulation software provides an interactive, immersive environment for practicing complex medical procedures and is an approach to healthcare education and training.

Through Simulation Training Services. Experience simulated clinical training, close to real patient training, and professionals prepare for real-life situations through training.

Application Overview:

By application, the Academic and Research Institutes segment occupied the biggest share from 2018 to 2022.

Academic and research institutions are educational institutions dedicated to education and research. The application of Healthcare and Medical Simulation in academic and research institutions can be used for anatomy, physiology and communication during school students.

Healthcare and Medical Simulation is a useful tool for training residents' skills. This experiential learning method enables doctors to practice and test their profession before actual work, while building confidence in their own abilities.

Key Companies in the global Medical Simulation market covered in Chapter 3:

KYOTO KAGAKU
Canadian Aviation Electronics (CAE)
Mentice AB
SimX Inc
Gaumard Scientific Company
Sensus3D
VirtaMed AG
Oxford Medical Simulation Ltd.
Simulab Corporation
SynDaver
Conquer Experience
Operative Experience
Laerdal Medical
3B Scientific
MedVision
Surgical Science 
Medical-X
Nasco Healthcare

In Chapter 4 and Chapter 14.2, on the basis of types, the Medical Simulation market from 2019 to 2030 is primarily split into:

Medical Anatomical Models
CPR Training Manikins
Medical Simulation Software
Simulation Training Services
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Medical Simulation market from 2019 to 2030 covers:

Academic and Research Institutes
Hospitals
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)