The global medical simulation market is expected to grow at a CAGR of ~13.8% from 2021 to reach ~$ 3.68 billion by 2027. The growth is primarily attributed to growing demand for less invasive treatments, technological advancements, growing awareness towards to simulation education, shortage of healthcare providers and increasing focus on safety of patients. However, budget constraints, high cost and operation challenges can pose a challenge to the growth of this market.

By Product & services: Web-based simulation segment projected to grow at highest CAGR
Based on products & services, medical simulation market is segmented into medical simulation anatomical models, medical simulation software, web-based simulation and simulation training services. Web-based simulation segment accounted for the highest CAGR of medical simulation market during the forecast period. The highest growth of this market segment is driven by easy access to internet services, controlled learning environments and access to simulations processes. On the other hand, medical simulation anatomical models accounted for the largest share owing to rising demand for patient safety, wide applications in academics, hospital practice and military organizations.

By interventional/surgical simulators: Laparoscopic surgical segment held largest share of the medical simulations market in 2020
On the basis of interventional/surgical simulators, medical simulation market is segmented into laparoscopy surgical simulators, gynaecology simulators, cardiovascular simulators, orthopaedic simulators, spine simulators and others. Laparoscopic surgical segment held largest share in the forecast period. The largest share of this segment is mainly attributed to technological advancements and high adoption of simulation techniques in laparoscopic surgeries.

By End User: Academic institutes segment held largest market share
Based on the end user segregation, academic institutes accounted for largest market share in 2020. The large share of this market segment can be mainly attributed to growing awareness for patient safety, rising focus on minimizing medical errors and growing enrolment in medical schools. Also, growing number of medical schools in developing countries is further expected to drive the adoption of medical simulation products in this end user segment.

By Region: APAC fastest growing regional market
In 2020, North America accounted for the largest share of medical simulation market. The largest share of this regional segment is mainly due to increasing use of medical simulation to eliminate errors and technological advancements. However, APAC is expected to grow at highest CAGR during the forecast period. High growth of this geographic segment is mainly attributed to large population, increasing R&D investments, growing focus on patient safety, emphasis on curbing healthcare expenditure and increasing focus on medical education.

Competitive Scenario
CAE (Canada)
Laerdal Medical (Norway)
3D Systems (US)
Simulab Corporation (US)
Simulaids (US)
Limbs & Things (US)
Kyoto Kagaku (Japan)
Mentice AB (Sweden)
Medaphor (UK)
Gaumard Scientific Company (US)
Operative Experience Inc. (US)
Cardionics Inc. (US)
VirtaMed AG (Switzerland)
SynBone AG (Switzerland)
VRMagic Holding AG (Germany)
OssimTech (Canada)
HRV Simulation (France)
Synaptive Medical (Canada)
Inovus Medical (UK)
Surgical Science Sweden AG (Sweden)