Medical Simulation Industry Overview

The global medical simulation market size was estimated at USD 2.18 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 16.7% from 2023 to 2030.

Growing technological advancements, preference for minimally invasive treatment, and focus on patient safety are the factors anticipated to boost the market growth. The COVID-19 pandemic has negatively impacted various market players. Canadian Aviation Electronics, Ltd reported that medical and nursing schools are a major part of the simulation products market. This has negatively impacted their ability in completing contracts and also in delivering existing orders.

Gather more insights about the market drivers, restrains and growth of the Medical Simulation Market

COVID-19 began to hamper the demand in Asia early in the fourth quarter of the financial year 2020, with border restrictions in place, and in North America and Europe, later in March. Within the hospital market, customers were predominantly focused on handling acute operational demands due to the ongoing healthcare crisis instead of focusing on their training needs. This could result in less focus and budget for normal operations and training projects in the near term. Manufacturing operations for healthcare products also continued during the pandemic. Such a pattern of demand was observed in other companies as well.

Medical simulation in healthcare creates a safe learning environment, within which practitioners and researchers can test new clinical processes and enhance their teams’ and individuals’ skills. Most of the simulation applications include artificial patients, who can display symptoms and also respond to the simulated treatment. This allows specialists to enhance their clinical skills without risking patient lives.

Companies are involved in launching technologically advanced solutions in the market, which is also boosting the market growth. For instance, in January 2020, CAE Healthcare released the CAE Vimedix 3.0 ultrasound simulator that provides VR as well as 3D/4D ultrasound images of the heart. Furthermore, in January 2018, Gaumard Scientific Company launched the Pediatric HAL S2225, which is advanced wireless and tetherless mobile pediatric patient simulator. These factors are expected to positively impact market growth.

Browse through Grand View Research's Medical Devices Industry Research Reports.

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Medical Simulation Market Segmentation

Grand View Research has segmented the global medical simulation market by products and services, technology, end use, and region:

Medical Simulation Products & Services Outlook (Revenue, USD Million, 2018 - 2030)

• Healthcare Anatomical Models
• Web-Based Simulators
• Healthcare Simulation Software
• Simulation Training Services

Medical Simulation Technology Outlook (Revenue, USD Million, 2018 - 2030)

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

Medical Simulation End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Academic Institutes
• Hospitals
• Military Organizations
• Research

Medical Simulation Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

Key Companies profiled:

• CAE (Canadian Aviation Electronics, Ltd)
• Laerdal Medical
• 3D Systems
• Simulab Corporation
• Limbs & Things Ltd
• Simulaids
• Kyoto Kagaku Co., Ltd
• Gaumard Scientific Company
• Mentice AB
• Surgical Science Sweden AB

Key Companies and Market Share Insights

Vendors are investing in product launches, geographical expansions, collaborative agreements, and acquisitions, to sustain in the market. The market is expected to become highly competitive as many startups are seeking opportunities in this sector. For instance, in December 2020, CAE received ISO 13485:2016 certification for its facilities in Montreal (Canada) and Sarasota (U.S.). Both are medical device and quality management systems facilities. Also, in August 2020, TruCorp and Laerdal Medical partnered to bring a cost-effective & easy-to-implement ventilation training solution to the market.

Order a free sample PDF of the Medical Simulation Market Intelligence Study, published by Grand View Research.