Healthcare Simulation Market Share Report | Size and Forecasts (2023-2030)

[Research Report] The Healthcare Simulation market size is projected to grow from US$ 2,130.14 million in 2022 to US$ 7234.19 million by 2031; it is estimated to record a CAGR of 16.5% during 2022–2031.

Market Insights and Analyst View:

Healthcare Simulation is the modern way to train and educate healthcare professionals to master technical, cognitive, and behavioral skill sets through technologically advanced and crafted experiences. This experiential learning style helps learners and professionals test and practice their profession while boosting confidence in their capabilities before working in real-world scenarios. Additionally, medical simulation mimics a clinical situation without the risk of potentially dangerous clinical outcomes. Healthcare simulation is also called clinical simulation, medical simulation, or, in specific circumstances, nursing simulation and surgical simulation.     

Factors that positively affect the Healthcare Simulation market are the growing demand for minimally invasive procedures across the globe, which boosts the need for healthcare simulation. Also, the rising technological advancements and the increasing focus on patient safety drive investment in the Healthcare Simulation market.

Growth Drivers:

Medical simulation technology has come a long way in recent years, with advancements in virtual reality, machine learning, and haptics leading to more effective and realistic simulations for healthcare education. One prominent advancement in medical simulation technology is virtual reality (VR) technology. Using VR, users can interact with medical equipment and virtual patients in a realistic environment, enabling them to practice procedures and develop clinical skills without harming real patients. Another advancement in medical simulation technology is haptic technology, which enables users to feel realistic sensations such as temperature, pressure, and texture. It allows students to experience the tactile sensations of performing surgeries and procedures, making the simulations more effective and realistic. Machine learning is also being used to enhance the effectiveness and realism of medical simulations. Machine learning algorithms can use data from real patients to create realistic virtual patients with symptoms and complex conditions, enabling students to practice diagnosing and treating these diseases in a realistic environment. With the growing use of artificial intelligence, simulation models are becoming more sophisticated, accurate, and realistic, helping to improve the training of healthcare professionals. In recent years, medical simulation technology has advanced significantly with haptics, machine learning, virtual reality, and artificial intelligence, leading to more effective and realistic simulations for healthcare education. These state-of-the-art simulation technologies provide students with an immersive and safe learning experience, enabling them to develop their clinical skills and enhance patient outcomes. Therefore, the technological advancements, driving the Healthcare Simulation market.  

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Healthcare Simulation Market: Strategic Insights

Healthcare Simulation Market

• Market Size 2023
  US$ 2.48 Billion
• Market Size 2031
  US$ 8.42 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product and Services

• Medical Anatomical Models
• Web-based Simulators
• Healthcare Simulation Software
• Simulation Training Services

Technology

• 3D Printing
• Virtual Patient Simulation
• Procedure Rehearsal Technology

End-user

• Hospitals
• Academic Institutes
• Military Organizations

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Report Segmentation and Scope:

The “Healthcare Simulation Market” is segmented based on product and services, technology, end user, and geography. Based on products and services, the market is segmented into medical anatomical models, web-based simulators, healthcare simulation software, and simulation training services. The Medical Anatomical Models segment is further sub-segmented as patient simulators, task trainers, interventional/surgical simulators, ultrasound, endovascular, dental, and eye simulators. In terms of technology, the Healthcare Simulation market is segmented into 3D printing, virtual patient simulation, and procedure rehearsal technology. Based on the end user, the market is categorized into hospitals, academic institutes, military organizations, and others.   The Healthcare Simulation market, based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Segmental Analysis:

Based on products and services, the market is segmented into medical anatomical models, web-based simulators, healthcare simulation software, and simulation training services. The Medical Anatomical Models segment is further sub-segmented as patient simulators, task trainers, interventional/surgical simulators, endovascular simulators, ultrasound simulators, dental simulators, and eye simulators. The medical anatomical models segment held the largest share of the market in 2022 and web-based simulators are estimated to register the highest CAGR in the market during 2022-2031. The benefits of training fine motor skills using a variety of simulated procedures are undebatable. The anatomical model is an essential component that highly contributes to successful simulation. Physical anatomy is as vital as virtual anatomy in medical simulation training.

Additionally, due to the simulated part of the surgery, educational value can be increased if what is on the outside feels and looks equally realistic. A physically accurate anatomical model a trainee can manipulate is an inseparable part of successful training in multiple medical specialties. Fully articulated anatomical models are available with highly realistic simulation scenarios, an important requirement for successful and patient safety-focused training. With new product launches and the increase in minimally invasive surgeries, the medical anatomical models segment is expected to hold a significant share of the Healthcare Simulation market.   

In terms of technology, the Healthcare Simulation market is segmented into 3D printing, virtual patient simulation, and procedure rehearsal technology. The procedure rehearsal technology segment held the largest market share in 2022, and virtual patient simulation is anticipated to grow fastest from 2022 to 2031.  Medical simulation is generally used to assist a resident or fellow in performing a procedure to enhance proficiency. In recent years, the term ‘rehearsal’ has started to appear in the medical literature as a way medical simulation can enhance clinical performance. Simulation is becoming extensively used in medical training to allow physicians to acquire, enhance, and sustain complex procedural skills. The Simbionix PROcedure Rehearsal Studio, a technology-evolved new product, allows a technician or clinician to take computed tomography angiography (CTA) scan data of a patient, and import it into the Simbionix ANGIO Mentor, which is an endovascular simulation. If properly used, this new technology could enlarge the role of medical simulation in enhancing patient care. With the advantages of procedure rehearsal technology and the increase in minimally invasive surgeries, the procedure rehearsal technology segment is expected to hold a significant share of the Healthcare Simulation market.  

Based on the end user, the market is categorized into hospitals, academic institutes, military organizations, and others. The hospitals segment held the largest market share in 2022. However, the academic institutes segment is anticipated to register the highest CAGR during 2022-2031.  Healthcare costs continue to increase as raised demand for services and limited budgets pressurize resources; however, they may be used efficiently. Proposes discrete event simulation as an efficient tool in the search for highly efficient health care systems—the application of a desktop computer simulation package to model part of a hospital subsystem. The simulation package shows how effectively it might be enhanced by moderating available resources and time to finish tasks. Maintains that the principles expounded and apply to many aspects of health care management. Hospitals rapidly adopting simulation technologies for better management and increased patient safety. Thus, the abovementioned factors are likely to drive the growth of the hospital segment during the forecast period.  

Regional Analysis:

Based on geography, the Healthcare Simulation market is divided into five key regions: North America, Europe, Asia Pacific, South and Central America, and the Middle East and Africa. North America will likely capture a significant global Healthcare Simulation market share in 2022. The market growth in the region is attributed to the growing demand for minimally invasive procedures, Rising technological advancements, and Increasing focus on patient safety. In addition, a growing number of market players are expanding their geographical footprint in North American countries.        

Minimally invasive surgeries grow with a higher acceptance rate over traditional surgeries due to the increasing prevalence of lifestyle-related and chronic disorders and technological advancements. The US shows a growing prevalence of chronic diseases, which is expected to create more demand for minimally invasive surgeries for disease management. The rising prevalence of chronic diseases is likely to boost market growth. Chronic diseases such as cancer, stroke, neurological disorders, and paralysis are the top causes of death and disability in the US. According to the National Center for Chronic Disease Prevention and Health Promotion, 6 in 10 Americans have at least one chronic disease, such as stroke, cancer, neurological disorders, and others. For instance, According to the Centers for Disease Control and Prevention (CDC), in 2021, ~695,000 people died from heart disease in the US, with coronary heart disease being the most common type of heart disease that resulted in the death of 375,476 people in the country. According to the Diabetes Research Institute, the number of people with diabetes in the US was ~37.3 million (11.3% of the population) in 2022. Nearly 28.7 million people in the US were diagnosed with diabetes, and approximately 8.6 million people have undiagnosed diabetes.       

Further, ~1.4 million diabetes cases are diagnosed each year in the US. According to the Centers for Disease Control and Prevention, in 2021, ~88 million adults had prediabetes, which is 34.5% of the US adult population. According to the Canadian Diabetes Association, in 2022, there is an increasing prevalence of diabetes in the country, with 11.7 million reported cases of diabetes or prediabetes. According to the same source, ~5.7 million Canadians are living with diagnosed diabetes. According to Statistics Canada, Canada has a low fertility rate, decreasing from 1.47 children per woman in 2021 to 1.40 children per woman in 2021.  According to the Canadian Institute for Health Information, in July 2022, ~2.4 million people were diagnosed with heart disease. It was the second major cause of death after cancer in Canada. Demand for minimally invasive procedures has increased remarkably over the past few years to reduce the burden associated with a wide range of chronic diseases.    

Industry Developments and Future Opportunities:

Various initiatives taken by key players operating in the global Healthcare Simulation market are listed below:

1. In January 2023, The U.S. Agency for International Development (USAID) launched a new Advanced Simulation Laboratory Center at the Christian Medical College (CMC) in Vellore for the training of their nurses, emergency teams, and doctors in neonatal care and maternal, including in the latest technologies to respond to basic and advanced nursing procedures, cardiopulmonary resuscitation (CPR), and mother and infant emergencies.  
2. In September 2021, Nasco Healthcare launched its strategic partnership agreement with SKILLQUBE GmbH worldwide to obtain the most realistic patient monitoring and medical device emulation solutions available to the marketplace.
3. In July 2021, 3D Systems signed a definitive agreement to sell Simbionix, its medical simulation business, to Surgical Science Sweden AB for a $305 million purchase price, subject to customary closing conditions and adjustments.
4. In October 2023, 3B Scientific, a leading manufacturer and marketer of medical simulation products and anatomical models for healthcare education, acquired Wallcur LLC, a prominent provider of healthcare simulation products. This acquisition broadens 3B Scientific's product offering and demonstrates its ongoing commitment to advancing medical training.
5. In October 2023, Paul Hastings LLP, advising Madison Industries, one of the world’s largest privately held companies, acquired CAE Healthcare. This technology company makes the globe safer through cutting-edge medical simulation and training solutions.    
6. In October 2023, Lumeto, the Toronto-based XR healthcare simulation company, announced a landmark AI upgrade to its InvolveXR platform. InvolveXR is a fully immersive and highly flexible XR Simulation Lab for institutions looking to deploy immersive training and assessment across the healthcare spectrum. The platform is now equipped with a Large Language Model (LLM) based AI-driven customizable conversational system, allowing unprecedented adaptability for simulating virtual patient encounters.

Competitive Landscape and Key Companies:

CAE (Canadian Aviation Electronics, Ltd), Laerdal Medical, 3D Systems, Simulab Corporation, Limbs & Things Ltd, Simulaids, Kyoto Kagaku Co., Ltd, Gaumard Scientific Company, Mentice AB, Surgical Science Sweden AB, VirtaMed AG, Operative Experience, Inc. are the major Healthcare Simulation companies. These companies focus on new technologies, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide. 

Healthcare Simulation Market Report Scope