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Healthcare Simulation Market size to exceed $10.5 Bn by 2032

  • Published Date: February 3, 2023

Healthcare Simulation Market size is estimated to surpass USD 10.5 billion by 2032, according to a new research report by Global Market Insights Inc.

Technological innovations in medical teaching as the chief driver for the healthcare simulation industry trends. Virtual reality is being used frequently for surgical planning, medical training, patient care management, chronic pain management, and training surgeons for difficult operations.

New product launches to increase the use of healthcare anatomical models in medical education

The study classifies the healthcare simulation market into healthcare anatomical models, web-based simulators, simulation software, and training services. The healthcare anatomical models segment accounted for a valuation of more than USD 1 billion in 2022. The segment is further bifurcated into patient simulators, ultrasound simulators, task trainers, interventional/surgical simulators, and others.

The introduction of new products by major industry participants is likely to hasten market expansion. For instance, in January 2022, Elsevier developed the 3D full female model to its 3D platform complete anatomy. This enables educators to teach anatomy to females for the first time in medical training with excellent 3D technology.

Browse key industry insights spread across 220 pages with 388 market data tables & 12 figures & charts from the report,“ “Healthcare Simulation Market Size By Product & Services (Healthcare Anatomical Models {Patient Simulators, Task Trainers, Interventional/Surgical Simulators, Endovascular Simulators, Ultrasound Simulators}, Simulation Software, Web-Based Simulators, Training Services), Method (Discrete-Event Simulation, Monte Carlo, System Dynamics, Agent-Based Simulation), End-use (Academic & Research Institutes, Hospitals, Military Organizations), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” In detail along with the table of contents:

Advantages in medical procedures to push demand for Monte Carlo simulation

Healthcare simulation market size from the Monte Carlo segment is primed to witness over 15.5% CAGR between 2023 and 2032. Consistent advancements in the Monte Carlo simulation technique to improve patient safety outcomes and lower medical errors, and educate professionals are poised to speed up market expansion.

Rising prominence of medical training to augment academic & research institutes segment revenues

The deployment of healthcare simulation solutions for R&D programs in academic & research institutes is likely to remain high in the coming years. The academic & research institutes segment held over 18.5% market share in 2022. An increase in academic institutions and an emphasis on medical education, training, and research globally is set to push product adoption.

To cite an instance, in October 2022, Capital Health, a healthcare provider, introduced the Advanced Simulation Training Center, its new mobile simulation laboratory designed to offer clinical training to physicians, nurses, and other personnel.

Supportive government initiatives to bolster APAC healthcare simulation industry demand

Asia Pacific healthcare simulation market is projected to expand at more than 14.5% CAGR from 2023 to 2032. The region may emerge as a major hub for this industry owing to new initiatives introduced in developing nations, including China and India, to provide high-quality training environments for healthcare workers.

For instance, in April 2022, the Chinese People’s Liberation Army standardized equipment deployment for battlefield medical aid simulation training at brigade and battalion levels for military application.

Strategic alliances for improving medical training to remain a key growth strategy

Industry players are engaging in strategic acquisitions and partnerships to improve their position in the competitive landscape. Some major players profiled in the healthcare simulation market report include Gaumard Scientific, Simulaids, Limbs & Things Ltd., Kyoto Kagaku Co., Ltd., Mentice, CAE Inc., and Surgical Science Sweden AB, among others.

Authors: Sumant Ugalmugle, Rupali Swain