Medical Simulation Market size is projected to experience significant growth from 2019 to 2025.
Growing demand of minimally invasive surgical procedures will stimulate global medical simulation market growth in the forthcoming years. Increasing adoption of medical simulation over traditional learning including patient safety will positively impact the medical simulation market growth over the projected timeframe. Simulation studies is believed to deliver correct training to new medical trainees, while avoiding harm to actual patients. Aforementioned factors will assist medical simulation market growth in the forthcoming years.
Rising investment in medical simulation sector coupled with launch of technologically advanced products and services will positively impact industry growth. For instance, CAE healthcare launched first commercial Microsoft HoloLens based medical simulation product VimedixAR that enables the learners to freely move within the training environment. However, the high cost of installation is expected to impede the medical simulation market growth.
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Web-Based simulation model is expected to grow at a significant rate over the forecast years. The growth is attributed to rapid development and omnipresence of internet. Furthermore, growing IT infrastructure in healthcare industry and lack of skilled professionals will increase the demand over the forthcoming years.
Low fidelity simulation will dominate the market over the projected timeframe owing to high preference of low fidelity simulators by part-time trainers. The low fidelity models are recommended to new trainees that shift to high fidelity simulation once proficiency of medical skill is mastered. However, less real-life experience in low fidelity simulation will impede the market growth.
Hospital segment is anticipated to grow at a robust rate over the forthcoming period. The availability of innovative simulation-based technologies and widespread application of simulation models in surgeries will positively impact industry growth. Moreover, increasing cost-effective procedural training for medical physicians and growing emphasis on minimizing errors will drive the medical simulation market for hospitals during the forecast period.
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U.S. medical simulation market will forecast significant expansion owing to presence of high healthcare simulation centers coupled with increased adoption of medical simulation models by the universities and military centers. Moreover, recent technological advancements and upsurge in number of healthcare experts demanding hands on patient training are the major factors that will positively impact industry growth in this region.
India medical simulation market is expected to foresee momentous growth owing to advancement of healthcare industry. Moreover, workshops and conferences initiated by Indian Organizations to deliberate on medical and surgical simulation will majorly impact India medical simulation industry growth during the forecast period. For instance, MediSim 2019, Bioengineering and Biodesign Initiative workshop on medical simulation was organized to recognize and train medical practitioners regarding new technologies in medical simulation field.
Some of the major key players involved in the global medical simulation market are Simbionix USA Corporation, Gaumard Scientific, Laerdal Medical, Simulab Corporation among others. Vendors are primarily focused on introduction of novel technologies to expand their market foothold and revenue generation. For instance, in November 2018, Simbionix USA Corporation launched first portable arthroscopy simulator to broaden its product portfolio.