The Global Healthcare Simulation Market in terms of revenue is expected to be worth $4.2 billion by 2027, growing at a CAGR of 16.1% in the upcoming years. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The major factors driving the growth of this market includes the need to maintain regulatory compliance, rising need to curtail healthcare costs, and growing demand for patient-centric healthcare. However, dearth of skilled IT professionals, and security concerns is challenging the growth of the global medical simulation market to a certain extent.

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The medical simulation anatomical models segment accounted for the largest share in the medical simulation market, by product & service

The medical simulation segment accounted for the largest market share of medical simulation market. Factors such as the increasing demand for primary care services, and the shortage of healthcare professionals are driving the growth of the segment.

By type, the laparoscopic surgical simulators segment registered the highest growth in the medical simulation market, in 2021.

The laparoscopic surgical simulators segment is projected to register the highest growth in the medical simulation market. The high adoption of simulation techniques in laparoscopy and technological innovations are the key factors driving the growth of this segment.

North America dominated the medical simulation market in 2021

North America accounted for the largest share of the medical simulation market in 2021, followed by Europe and Asia Pacific. The large share of North America in the global market can be attributed to the Accessibility to technologies, well-established distribution channels, and the rising number of healthcare professionals demanding hands-on patient training.

Key Market Players:

CAE (Canada), Laerdal Medical (Norway), Simulab Corporation (US), Simulaids (US), Limbs & Things (UK), Kyoto Kagaku (Japan), Mentice AB (Sweden), Gaumard Scientific Co. (US), Operative Experience Inc. (US), Cardionics Inc. (US) (a subsidiary of 3B Scientific), VirtaMed AG (Switzerland), SYNBONE AG (Switzerland), IngMar Medical (US), Medical-X (Netherlands), KaVo Dental GmbH (Germany), Altay Scientific (Italy), Simendo B.V. (Netherlands) VRMagic Holding AG (Germany), Symgery (Canada), HRV Simulation (France), Synaptive Medical (Canada), Inovus Medical (UK), TruCorp Ltd. (Ireland), and Surgical Science Sweden AG (Sweden)

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Market Dynamics: Impact Analysis

Drivers

• Limited access to patients during medical training
• Rising technological advancements in medical education
• Growing demand for minimally invasive treatments

Opportunities

• Shortage of healthcare personnel
• Growing awareness about simulation training in emerging economies

Challenges

• High cost of simulators
• Operational challenges

Restraints

• Limited availability of funds
• Poorly designed medical simulators

Recent Developments:

• In August 2021, Surgical Science Sweden AB acquired Simbionix (US) to provide the highest standard in training for medical professionals with their respective technologies.
• In July 2021, CAE Inc. partnered with Rush Center for Clinical Skills and Simulation (RCCSS) to help the companies improve patient safety and enhance healthcare education.
• In June 2021, Mentice AB collaborated with Thomas Jefferson University Hospitals to establish a Simulation Center of Excellence to elevate and promote clinical training and introduce advanced Virtual Reality-based simulation solutions for physicians.

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