DUBLIN--(BUSINESS WIRE)--The "Medical Simulation Market by Product & Service, Fidelity, and End User - Global Opportunity Analysis and Industry Forecast, 2017-2023" report has been added to ResearchAndMarkets.com's offering.
According to the report, 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 model-based simulation held more than half of the global medical simulation market in 2016.
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.
By product & service, the patient simulators segment generated the maximum revenue in 2016, accounting for more than one-fourth share of the global medical simulation market. Surgical simulation segment is expected to witness the highest CAGR during the forecast period, owing to increase in the number of cardiac, arthroscopic, and gynecological procedures.
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
- 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
Company Profiles
- 3D Systems Corporation (Simbionix)
- CAE Inc.
- Gaumard Scientific Company
- Kyoto Kagaku Co. Ltd.
- Laerdal Medical AS
- Limbs and Things Ltd.
- Mentice AB
- Simulab Corporation
- Simulaids Inc.
- Surgical Science Sweden AB
For more information about this report visit https://www.researchandmarkets.com/research/kc8gj2/medical?w=4
