PORTLAND, Oregon and PUNE, India, March 14, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Medical Simulation Market by Product & Service, Fidelity, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global medical simulation
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Medical simulation is a training method in which healthcare professionals practice tasks and processes in real life circumstances using virtual reality or simulation models. 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.
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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 of the Medical Simulation Market:
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The Asia-Pacific market is projected to grow at the highest CAGR of 15.6% during the forecast period, owing to increase in awareness about the benefits of simulation in healthcare industry and rise in expenditures in the emerging markets (such as India and China) to cater to the unmet medical needs.
The major companies profiled in the report are Laerdal Medical AS, CAE, Inc., 3D Systems, Inc., Simulab Corporation, Simulaids, Inc., Limbs and Things, Ltd., Kyoto Kagaku Co. Ltd., Mentice AB, Surgical Science Sweden AB, and Gaumard Scientific Company, Inc.
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SOURCE Allied Market Research
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