Global Medical Simulation Market (2021 to 2026) - Asia-Pacific Region to Witness Lucrative Growth Opportunities - ResearchAndMarkets.com

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Additionally, growing importance towards patient safety and allied outcomes owing to rising deaths due to medical errors is further estimated to augment the demand in the global medical simulation market.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, January 7, 2022
Information
Tags: 
Health, Other Health, Global, Safety, COVID-19, Academy, Growth, Patient, Patient safety, US, Medical simulation, Jean-Louis Vincent, Compliance, Approximation error, Coronavirus, Death, Medical device, Video game, Research
Geotags: 
INDIA, CHINA, ASIA, NORTH
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Summary
Key Points: 
  • Additionally, growing importance towards patient safety and allied outcomes owing to rising deaths due to medical errors is further estimated to augment the demand in the global medical simulation market.
  • However, the high cost associated with training and recruitment of raters for simulation-based assessments may hamper growth in the global medical simulation market.
  • Moreover, medical simulators are being used in vaccine development, thereby boosting demand for simulation-based solutions in the Global medical simulation market.
  • Moreover, Web-based simulation offers web-based simulation resources across regions to a broader audience, thereby boosting growth in the global medical simulation market.


The "Medical Simulation Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global medical simulation market is estimated to be valued at US$1.106 billion in 2019 and is projected to grow steadily during the forecast period.

The market growth can be attributed to increasing technological advancements in medical simulation techniques coupled with reduced healthcare costs by improving medical providers' competencies. Additionally, growing importance towards patient safety and allied outcomes owing to rising deaths due to medical errors is further estimated to augment the demand in the global medical simulation market.

Moreover, growing expenditure for healthcare systems worldwide is expected to propel growth in the market. However, the high cost associated with training and recruitment of raters for simulation-based assessments may hamper growth in the global medical simulation market. Also, unwillingness to adopt novel technological solutions may hamper market growth for medical simulation solutions.

The outbreak of the novel coronavirus disease positively impacted the Global medical simulation market. Medical-based simulation played an integral role during the COVID-19 pandemic. A rapid influx of critically ill patients and resource limitations presented patient safety concerns; thereby deployment of simulation-based solutions became a vital component of combating the pandemic. Medical simulation played an integral role by helping in refining protocols, uncovering safety gaps, and aid in training healthcare workers in unfamiliar roles. Moreover, medical simulators are being used in vaccine development, thereby boosting demand for simulation-based solutions in the Global medical simulation market.

The Web-Based Simulation segment shows promising growth

The growth in the market can be attributed to the global availability of internet services and allied applications. The web-medical simulation platform offers controlled, predictable outcomes by promoting trial and error learning in a risk-free environment and facilitates controlled access for varied simulation procedures. Moreover, Web-based simulation offers web-based simulation resources across regions to a broader audience, thereby boosting growth in the global medical simulation market.

Hospitals dominate the market

Medical Simulation-based technologies are widely used in Research and Academic institutes and hold a dominant market share. Medical simulation has helped in improving medical practitioner's competencies, thereby improving patient safety and reducing patient costs. However, the hospital segment is expected to grow at a significant rate owing to shifting market trends towards advanced simulation-based technologies and optimal utilization of simulation technologies in medical solutions to minimize errors and increase cost-effectiveness within operations.

Asia Pacific region to witness lucrative growth opportunities

The North American region holds a dominant market share owing to the presence of prominent market players, well-established distribution channels, and increased availability of advanced technological solutions. However, the Asia Pacific region offers lucrative growth opportunities and is projected to grow at a substantial rate over the forecasted period. The inclining market size can be attributed to the growing demand for healthcare simulation and allied training services within the region. Moreover, the growing demand for medical research and studies within emerging economies such as China, India is estimated to further boost demand in the medical simulation market in the region. Additionally, the growing patient population and ease in regulatory compliance in the region are further expected to augment the demand in the medical simulation market.

Companies Mentioned

  • 3D Systems, Inc.
  • MedaPhor Ltd.
  • CAE Inc.
  • Gaumard Scientific
  • Laerdal Medical
  • Mentice AB
  • SIMETRI, Inc.
  • Simulaids, Inc.
  • HRV
  • MEDICAL-X
  • Medical Simulation Technologies

Market Segmentation

By Product and Services

  • Web-based Simulation
  • Model-based Simulation
  • Ultrasound Simulation
  • Surgical Simulation
  • Simulation Training Services
  • Others

By End-User

  • Hospitals
  • Research and Academic Institutes
  • Surgical Clinics
  • Military Organizations

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • Germany
  • France
  • UK
  • Others
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Others
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Taiwan
  • Thailand
  • Indonesia
  • Others

For more information about this report visit https://www.researchandmarkets.com/r/u61pzy

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