Medical Simulation Market- Global Forecast to 2025

The global medical simulation market size is projected to reach USD 3.7 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 14.6% during the forecast period. The market growth can be attributed to factors such as the benefits of simulation over traditional learning, increasing demand for minimally invasive treatments, and increasing focus on patient safety.

Asia Pacific market to witness the highest growth during the forecast period

The global medical simulation market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily due to the presence of a large patient population (especially in China and India), increasing investments in R&D, increasing focus on medical education, training, research, and patient safety, and rising healthcare expenditure.

Key Market Players

The prominent players in the medical simulation market are CAE (Canada), Laerdal Medical (Norway), 3D Systems (US), Simulab Corporation (US), Simulaids (US), Limbs & Things (US), Kyoto Kagaku (Japan), Mentice  AB (Sweden), Medaphor (UK), Gaumard Scientific Company (US), Operative Experience, Inc. (US), Cardionics Inc. (US), VirtaMed AG (Switzerland), SynBone AG (Switzerland), VRMagic Holding AG (Germany), OssimTech (Canada), HRV Simulation (France), Synaptive Medical (Canada), Inovus Medical (UK), and Surgical Science Sweden AG (Sweden).

Recent Developments

• In April 2020, CAE collaborated with Area9 Lyceum (US) to provide an online Ventilator Reskilling Course to the clinician's midst of the Covid-19 pandemic.
• In April 2020, 3D Systems launched Lung Ultrasound Training services to combat the current COVID-19 pandemic.
• In March 2020, CAE launched the Vimedix 3.0, a high fidelity simulator that facilitates the learning process for cardiac, lung, Obs/Gyn, and stomach all in one through a common platform.
• In March 2020, 3D Systems collaborated with Ben Gurion University (Israel), and Beer- Sheva (Israel). The collaboration aimed to develop training modules that enable clinicians to acquire rapid and accurate lung diagnostic skills using an ultrasound machine and improve Covid-19 Triage.