Surgical Simulation Market To Reach $1,643.7 Million by 2030 says P&S Intelligence

NEW YORK, Aug. 18, 2021 /PRNewswire/ -- The global surgical simulation market value in 2020 was $366.5 million, and it will witness a 16.9% CAGR between 2021 and 2030, to reach $1,643.7 million by 2030, according to the market research report published by P&S Intelligence.

The market is primarily growing due to:

• Rising Volume of Surgeries: Surgeries are performed for the treatment of chronic and acute diseases, diagnostic purposes, healing injuries, and improving the appearance. Thus, with the surgery volume increasing due to people's rising disposable income and surging prevalence of chronic diseases, the demand for surgical simulators is escalating too.
• Growing Geriatric Population: The boom in the elderly population is another major surgical simulation market driver because this population is at a high risk of physical injuries and acute and chronic diseases. Moreover, older people also worry more about their appearance, which is why they are increasingly opting for aesthetic procedures, the skills for which can be enhanced on simulators.

The COVID-19 pandemic has had a negative impact on the surgical simulation market due to the closure of most of the surgery departments around the world. This, combined with the shutdown of manufacturing facilities and import and export operations (except for essential goods), hampered the trade of surgical simulators.

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Products are currently the larger bifurcation in the surgical simulation market, based on offering. The number of surgeries is skyrocketing owing to the increasing prevalence of chronic and acute disease, rising appearance consciousness, and surging cases of physical injuries owing to violence, burns, and accidents. Simulators are widely used by residents and students to learn surgery, as well as by experienced surgeons to improve their skills.

In the coming years, the academic & research institutes category is expected to grow the fastest in the surgical simulation market, on the basis of end user. Such places generate the greatest requirement for surgical simulators to train medical students in the field and prepare them for being actual surgeons.

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North America dominated the surgical simulation market in the past on account of the rising number of surgeries, growing chronic disease prevalence and geriatric population, advanced healthcare infrastructure, and favorable medical insurance and reimbursement scenario. Additionally, the market is driven by the collaborations between healthcare firms and market players for the procurement of such systems.

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The most-significant companies in the global surgical simulation market include CAE Inc., 3D Systems Corporation, Mentice AB, Simulab Corporation, MEDICAL-X, Limbs & Things Ltd., Voxel-Man, Inovus Ltd., VirtaMed AG, eoSurgical Ltd., Laparo Sp. z.o.o., 3-Dmed, Gaumard Scientific Company Inc., CATHI GmBH, LAERDAL MEDICAL AS, Surgical Science Sweden AB, and Simendo Company.

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SOURCE P&S Intelligence