Medical Simulation Market to grow by USD 1.99 billion from 2022 to 2027, North America to account for 45% of market growth- Technavio

NEW YORK, Sept. 20, 2023 /PRNewswire/ --The medical simulation market is expected to grow by USD 1.99 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 15.45% during the forecast period, according to Technavio Research. The market has been segmented by End-user (Academic institutes, Military organizations, Hospitals, and Others), solution (healthcare anatomical models, web-based simulators, simulation training services, and healthcare simulation software), and Geography (North America, Europe, Asia, and the Rest of the World (ROW)). North America is estimated to contribute 45% to the growth of the global market during the forecast period. The presence of major players in the region is expected to drive the growth of the medical simulation market in the region. Some of the top academic institutions in the US, such as Penn Presbyterian Medical Center, St. Joseph Hospital, Pennsylvania Hospital, and others, have adopted medical simulation-based training to enhance learners' skills in teaching new skills and updating old knowledge. Furthermore, medical simulation has been extended to a variety of healthcare systems in the US, such as hospitals, healthcare schools, community colleges, and clinics. Hence, these factors are expected to drive market growth during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read FREE PDF Sample Report

Company Profile:

Altay Scientific, CAE Inc., Cardionics Inc., Gaumard Scientific Co. Inc., HAAG-STREIT DEUTSCHLAND GmbH, IngMar Medical, Inovus Ltd., Intelligent Ultrasound Group, KaVo Dental GmbH, Kyoto Kagaku Co. Ltd., Laerdal Medical AS, Limbs and Things Ltd., Medical-X, Mentice AB, Operative Experience Inc., Simendo BV, Simulab Corp., Symgery, Trucorp Ltd., and VirtaMed AG

Altay Scientific - The company offers medical simulations such as Blood Pressure Simulator.

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Medical Simulation Market: Segmentation Analysis

The market share growth by the academic institutes segment will be significant during the forecast period. Medical academic institutions play an important role in the development, adoption, and evaluation of medical technologies as well as in the training of current and future physicians.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Medical Simulation Market

Key Driver

• Increasing focus on patient safety
• Increased demand for personalized or customized medical simulation
• Rising cost efficiency and enhanced productivity of medical simulation

Increasing focus on patient safety is a key factor driving market growth. The medical industry is a very sensitive field, and the risk of errors that can harm patients is higher. Errors related to diagnosis and treatment can lead to unsafe surgical care and make life difficult for the patient. Furthermore, simulation training can help clinicians gain confidence, insight, and expertise to improve patient protection in a risk-free environment. Globally, the growing number of medical errors and growing concerns about patient safety have become a top priority for organizations looking to adopt medical simulations. Hence, these factors are expected to drive market growth during the forecast period.

The growing integration of AI technologies into medical simulation is an emerging market trend. Identify key trends, drivers, and challenges in the market. Download a FREE sample to gain access to this information.

FAQS

• How do the major trends impact the market?
• How big is the North America market?
• How do the key drivers and challenges impact the market?

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Solution

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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