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Healthcare Simulation Market - By Product & Services (Healthcare Anatomical Models, Simulation Software, Web-Based Simulators, Training Services), By Method (Discrete-Event Simulation, Monte Carlo, System Dynamics, Agent-Based Simulation), By End-use & Forecast, 2023-2032

  • Report ID: GMI5419
  • Published Date: Jan 2023
  • Report Format: PDF

Healthcare Simulation Market Size

Healthcare Simulation Market size valued at USD 2 billion in 2022 and is poised to exhibit over 15% CAGR from 2023 to 2032. Driven by increased efforts by hospitals to involve rigorous VR training systems.

Healthcare Simulation Market

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The soaring digitalization and integration of artificial intelligence and virtual reality have fueled the development of the overall simulation sector. The mounting focus on patient safety has escalated product adoption in the healthcare sector. The need to pinpoint the primary causes of medical errors is set to increase with medical errors. According to the World Health Organization (WHO) report, up to 25% of patients experience difficulties as a result of improper surgical care methods. Each year, over 7 million surgical patients experience serious problems, and 1 million of them pass away during or post-operation.

Furthermore, constant R&D programs to introduce digital healthcare technologies, such as robotics, artificial intelligence, virtual reality (VR) & augmented reality (AR), and 3D-printing or nanotechnology, are impelling the demand for healthcare simulation. In May 2022, SimX, a VR and AI software solution provider, launched a virtual reality simulation for nursing education that replaces true nursing encounters with a realistic nursing curriculum. Thus, the surging adoption of simulators for virtual is fueling healthcare simulation market progression.

High maintenance costs may restrain industry progression

The high cost of healthcare simulation is a major factor hampering the market growth. Furthermore, gears and software need trained operators, which costs extra money and takes more time. Thus, the elevating price of simulation and restricting product adoption. Nonetheless, artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) technologies are expected to aid in overcoming this issue.

Healthcare Simulation Market Analysis

Global Healthcare Simulation Market Share By Product & Services

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The healthcare simulation market share from the web-based simulators segment is primed to exhibit nearly 16% gains up to 2032. Some key factors contributing to segment growth are advancements in healthcare information technology (IT) solutions and rising digitization in the industry. In September 2022, InSilicoTrials, a medical simulator technology firm, introduced a cloud-based platform for healthcare simulation, which is designed to accelerate digitization in healthcare.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of healthcare simulation valued at USD 2 billion in 2022 and is set to progress at over 15% CAGR through 2032 owing to the growing focus on patient safety and constant R&D programs to introduce digital healthcare technologies, along with increased efforts by hospitals to involve rigorous VR training systems.

The hospitals segment is anticipated to depict more than 14.5% growth rate between 2023 and 2032 due to surging patient safety awareness and a strong focus on reducing medical errors in hospitals.

The web-based simulators segment is poised to exhibit over 16% CAGR between 2023 and 2032 as a result of controlled access to the simulation procedures.

Europe market wil exceed USD 2.5 billion by 2032 on account of the booming economy and increased private investment in the region.

Healthcare Simulation Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 400
  • Countries covered: 30
  • Pages: 220
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