Medical Simulation Market to Witness a CAGR of 16.4% during 2021 to 2027 Globally – AXIOM MRC

The factors such as limited access to live patient during training, advancement in medical education, growing demand for minimally invasive treatments, increasing focus on patient safety, and increasing demand for virtual training due to current COVID-19 situation are likely to contribute to the healthy growth of the market.

New York, July, 2021: Axiom Market Research & Consulting™ added a report on global medical simulation market which includes study on products and services, end user across various countries of key regions across the globe. The global medical simulation market was projected to grow at a CAGR of 16.4% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the medical simulation market.   

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The report analyses the global medical simulation industry based on products and services, end user and geography. Various products and services covered in global medical simulation are patient simulator, task trainer, surgical simulator, dental simulator, eye simulator, ultrasound simulator and simulation software. Based on end user, the market is segmented into academic institute, research centre, hospitals & clinics, military organization. The medical simulation market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.

The key competitors of this market include Cae Inc., 3D Systems, Laerdal Medical, Gaumard Scientific Company, Kyoto Kagaku, Limbs & Things, Mentice Ab, Simulab Corporation, Intelligent Ultrasound Group Plc, Operative Experience Inc., Surgical Science Sweden Ab., Cardionics Inc., Virtamed Ag, Synbone Ag, Vrmagic Holding Ag., Ossimtech, Hrv Simulation, Synaptive Medical and Inovus Medical among others.

Medical Simulation Market Regional Trends

Asia Pacific is expected to witness the fastest growth in upcoming years owing to hold significant share in terms of value. The key factors attributed to the market growth are rising focus on medical training, increase healthcare expenditure, high population. China followed by Japan and India is projected to be the fastest growing market due to increasing demand for products in the region.

Medical Simulation Market Segmental Highlights

• The surgical simulation segment is expected to dominate the medical simulation market during the forecast period 2021 to 2027. The growth of this segment is due to rising number of clinical trials, rising prevalence of cancer and high adoption of simulation technique is further boosting the market growth.
• Academic institutes end user segment dominated the market in 2020. Major factor such as the implementation of advanced simulation-based technologies, rising focus shifting form traditional learning, cost-effectiveness of procedural training for medical physicians are accredited to the growth of the market.
• Asia Pacific dominated medical simulation market in 2020 and is expected to witness the fastest growth in upcoming years.

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Research Objectives of Medical Simulation Market Report:

• Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period
• Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects
• Country-level analysis, integrating the demand and supply forces that are influencing the growth of the medical simulation Market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years
• Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players

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