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Medical Simulation Market Expected to Reach $2,526 Million by 2023 According to a new report published by Allied Market Research, titled, "Medical

Simulation Market by Product & Service, Fidelity, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global medical simulation market was valued at $986 million in 2016, and is projected to reach $2,526 million by 2023, growing at a CAGR of 14.3% from 2017 to 2023. By product & service, the modelbased simulation held more than half of the global medical simulation market in 2016. Medical simulation is a training method in which healthcare professionals practice tasks and processes in real life circumstances using virtual reality or simulation models. Increase in use of simulation in healthcare, surge in emphasis on patient safety & outcomes, limited access to live patients during training, and medical technology revolution drive the growth of the market. However, the high cost of installation and other related expenditures are expected to impede the market growth.

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By fidelity, the low-fidelity simulators segment dominated in 2016 with three-fifths share in the global medical simulation market. Based on application, the hospitals & clinics segment is expected to dominate the global market in the future owing to increase in the


number of surgical procedures. On the other hand, the academic institution & research centers segment is estimated to exhibit a CAGR of 15.6%.

Key Findings of the Medical Simulation Market:     

Web-based simulation segment contributed for nearly one-third share of the global medical simulation market in 2016. Surgical simulation is projected to grow at a significant CAGR of 14.6%, during the forecast period (2017-2023). Hospitals & clinics segment contributed for more than half of the global market in 2016. Germany and France together accounted for more than one-third share of the European medical simulation market in 2016. Japan accounted for more than one-third share of the Asia-Pacific medical simulation market in 2016.

The Asia-Pacific market is projected to grow at the highest CAGR of 15.6% during the forecast period, owing to increase in awareness about the benefits of simulation in healthcare industry and rise in expenditures in the emerging markets (such as India and China) to cater to the unmet medical needs.

Key players:  Laerdal Medical AS  CAE Inc.  3D Systems Inc.  Simulab Corporation  Simulaids Inc.  Limbs and Things Ltd.  Kyoto Kagaku Co. Ltd.  Mentice AB  Surgical Science Sweden AB  Gaumard Scientific Company Inc.

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Medical Simulation Market Expected to Reach $2,526 Million by 2023  

According to a new report published by Allied Market Research, titled, "Medical Simulation Market by Product & Service, Fidelity, and End Us...

Medical Simulation Market Expected to Reach $2,526 Million by 2023  

According to a new report published by Allied Market Research, titled, "Medical Simulation Market by Product & Service, Fidelity, and End Us...

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