Medical Simulation Market Size to Worth USD 5.54 Bn by 2032

The global medical simulation market size was valued at USD 2.1 billion in 2023 and is estimated to be worth around USD 5.54 billion by 2032, growing at a CAGR of 11.4% from 2023 to 2032.

Ottawa, March 06, 2024 (GLOBE NEWSWIRE) -- The global medical simulation market size accounted for USD 2.33 billion in 2024 and is projected to reach around USD 4.43 billion by 2030, According to Precedence Research.

The market is driven by technological advancements, concerns over patient safety, medical education, and training needs, rising healthcare costs, and others.

Medical simulation refers to the use of simulation technology to replicate real-world scenarios and activities related to healthcare and medical practices. This approach provides a controlled and immersive environment for healthcare professionals, students, and practitioners to enhance their skills, improve their decision-making abilities, and practice various medical procedures without risking harm to patients.

The growing number of startups and increasing funding are expected to propel the medical simulation market during the forecast period. For instance, in October 2022, Oxford Medical Simulation, a UK-based firm, raised around $2.63 million for their virtual reality healthcare education. The organization wants to assist in addressing the present healthcare staffing problem and address the urgent need for more effective training of nurses and physicians.

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Key Insights:

  • North America led the market with the largest revenue share of around 48% in 2023.
  • By end-use, the academic institute's segment has generated 32% of the market share in 2023.
  • By technology, the procedure rehearsal segment has accounted market share of over 42% in 2023.
  • By product, the healthcare anatomical model segment has captured a market share of 34% in 2023.

Regional Stance:

North America will dominate the medical simulation market during the forecast period. The market growth in the region is attributed to the presence of major players such as CAE Healthcare, Oxford Medical Simulation, and others. These players adopted various strategies in the market, including product launches, acquisitions, collaboration, and others.

  • For instance, in August 2023, the DTR Medical® LLETZlearn® Training Simulator will be a new offering from Innovia Medical that will broaden its gynecology portfolio in the United States. Clinicians designed the training simulator so that learners might build confidence before treating a patient. The interactive training tool may be utilized with any return electrode pad and electrosurgical instruments to replicate real-world therapy.
  • Additionally, to practice collecting a high-quality sample, the LLETZlearn® Training Simulator is helpful when utilized with their DTR Medical® brand Cervical Rotating Biopsy Punch. With a top metal jaw stronger than titanium, the Cervical Rotating Biopsy Punch minimizes cervical damage and patient pain while ensuring a clean, precise cut that expedites pathology test findings and diagnosis. Furthermore, the spread of simulation efforts is supported by funding available for medical education and training programs, including those that use simulation. Resources are frequently provided by public, corporate, and academic entities to improve the abilities of healthcare professionals. Thus, this is expected to drive the market growth in the region.

Medical Simulation Market Scope

Report CoverageDetails
Growth Rate from 2023 to 2032CAGR of 11.4%
Market Size in 2023USD 2.1 Billion
Market Size by 2032USD 5.54 Billion
Base Year2022
Forecast Period2023 to 2032
Segments CoveredBy Product and Services, By Technology, By End-Use, and By Geography
Region CoveredNorth America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Report Highlights:

Technology Insights

The procedure rehearsal technology segment held the largest share of the medical simulation market in 2023. Procedure rehearsal technology often leverages Augmented Reality and Virtual Reality to create immersive and lifelike simulations. Virtual Reality allows healthcare professionals to enter a virtual environment and practice procedures in a 3D space, while Augmented Reality overlays digital information onto the real-world setting, enhancing the physical environment with relevant data. In addition, the high-fidelity simulators are crucial components of procedure rehearsal technology. These simulators replicate the anatomy and physiological responses of patients, providing a realistic experience for practitioners. They may include features such as haptic feedback, realistic tissue properties, and accurate anatomical structures.

  • Next-gen LapAR Pro and HystAR Pro simulators were launched by Inovus Medical. The simulators utilized hybrid technologies that will revolutionize surgical training. The advanced technology will provide a broader range of surgical scenarios.

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End-Use Insights

The academic institutes segment captured the dominating share of the market in 2023. The academic research institutions segment is likely to witness persistent growth due to the presence of several academic research groups that are involved in the study of complex biological systems using computer models. For instance, using PBPK modeling, the NIDDK investigated the effects of reduced kidney function on the pharmacokinetics of medications excreted really via organic anion transporters. On the other hand, the hospital segment is expected to grow at the fastest rate over the projected period. Hospitals utilize medical simulation to train healthcare professionals, including physicians, nurses, and other staff, in various clinical skills. Simulation allows practitioners to practice and refine their skills in a controlled environment before applying them in real clinical settings.

  • For instance, a groundbreaking simulation lab was launched in India in November 2023. The lab is one of its kind that will provide cutting-edge education. The training will be in different medical disciplines. The lab has a hospital-like setting that will provide realistic training experience in the supervision of medical professionals.

Market Dynamics:

Driver: Expansion of healthcare providers

The number of patients is rising at the same time that the number of healthcare providers is rising. For instance, demands for medical personnel during COVID-19 have come from nearly every nation. Pandemics caused suffering in nations that lacked medical personnel. In addition, pharmacists, nurses, and other medical personnel are crucial to the treatment and immunization of patients, as well as their overall well-being. To serve a population of 331 million people, the United States has added 168,691 physicians to its medical workforce since 2010, according to FSMB 2019. Growth is being driven by the influx of recently licensed physicians into the field. Therefore, it is predicted that the growing number of doctors will drive the market.

Restraint: High cost

The upfront costs associated with implementing medical simulation programs, including the purchase of simulation equipment, software, and dedicated simulation facilities, can be substantial. For smaller healthcare institutions or those with limited budgets, this cost may act as a barrier to entry. Beyond the initial investments, there are ongoing costs for maintenance, updates, and staffing associated with operating and managing simulation programs. Institutions need to allocate resources for equipment upkeep, software upgrades, and hiring trained simulator educators. Thus, the high cost might be a major restraining factor for the market growth during the forecast period.

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Opportunity: Rising integration of AI technologies

Artificial intelligence (AI) is a technology that surgeons are using more and more to enhance their training, and it is a major factor in improving the quality of the medical simulation market. Artificial intelligence is finding its way into medical simulation, enabling everything from preoperative planning to intraoperative visualization and guidance—all to enhance patient safety. However, in surgical training simulations, Al technology makes tailored feedback easier to provide and allows for self-evaluation for better performance.

Artificial intelligence is driving medical simulation's future since it facilitates the creation of new devices permitted by regulatory authorities and ushers in a new age of surgical training through the clinical assessment of AI-supported surgical simulators. Moreover, the current gap between academic successes and ubiquitous commercialization of AI's AI-enabled simulators has been closed by artificial intelligence-powered medical equipment for surgical simulation. Consequently, the need for healthcare simulation has increased, and surgical simulation techniques are improved by the incorporation of AI technology. Therefore, throughout the projection period, the increased integration of AI technology into the medical simulation market would propel market expansion.

  • AI-based simulators were designed by AIIMS and IIT-Delhi to train neurosurgeons to reduce invasion and enhance surgical skills. 3D printing and AI were used to develop the simulators. 3D printing is useful in creating highly detailed and customized brain models. AI will help analyze surgeons' performance in terms of speed, precision, and decision-making.

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Recent Developments:

  • In August 2023, 3B Scientific, a prominent producer and distributor of anatomical models and medical simulation products for medical education, announced that it had finalized a deal to purchase Lifecast Body Simulation.
  • In June 2023, leading companies in patient simulation, Laerdal Medical and virtual reality medical simulation leader SimX, announced a collaboration to improve patient safety with a VR simulation training program that equips healthcare professionals to give the best possible care. As a result of the collaboration, Laerdal will take over as the main supplier of the SimX virtual reality simulation technology to US and Canadian government agencies, hospitals, and emergency medical services.

Market Key Players:

  • CAE Healthcare, Inc
  • Laerdal Medical
  • Mentice
  • Simulab Corporation
  • 3D Systems, Inc
  • Kyoto Kagaku Co., Ltd
  • Simulaids
  • Limbs & Things LTD
  • Gaumard Scientific
  • Cardionics
  • Intelligent Ultrasound (MedaPhor Ltd.)

Market Segmentation

By Product and Services

  • Anatomical Models
    • Patient Simulators
      • High-Fidelity Simulators
      • Medium-Fidelity Simulators
      • Low-Fidelity Simulators
    • Task Trainers
    • Interventional/Surgical Simulators
      • Laparoscopic Surgical Simulators
      • Gynecology Surgical Simulators
      • Cardiac Surgical Simulators
      • Arthroscopic Surgical Simulators
      • Other Interventional/Surgical Simulators
    • Endovascular Simulators
    • Ultrasound Simulators
    • Dental Simulators
    • Eye Simulators
  • Web-Based Simulation
  • Medical Simulation Software
    • Performance Recording Software
    • Virtual Tutors
  • Simulation Training Services
    • Vendor-Based Training
    • Educational Societies
    • Custom Consulting and Training Services

By Technology

  • Virtual Patient Simulation
  • 3D Printing
  • Procedure Rehearsal Technology

By End-Use

  • Academic Institutes
  • Hospitals
  • Military Organizations
  • Research
    • Medical Device Companies
    • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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