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Surgical Simulation Market

Surgical Simulation Market

  • May 2020
  • 193 pages
  • ID: 5932786
  • Format: PDF
  • Prescient & Strategic Intelligence Private Limited

Summary

Table of Contents

Surgical Simulation Market

As per the World Health Organization (WHO), cardiovascular diseases (CVDs) carry an annual morality of 17.9 million, while cancer kills around 9.6 million each year. With the rising number of people suffering from such chronic diseases and many more, the volume of surgeries is increasing around the world.

This is one of the major factors driving the global surgical simulation market, which valued $337.4 million in 2019, at a 16.4% CAGR between 2020 and 2030. This is because, to cater to the rising demand for surgeries, educational institutes, which impart surgical training, are increasing. To reduce procedural errors and make doctors more efficient at the process than ever, many of them are adopting simulators for training purposes.Products To Be More Fruitful for Market Players till 2030
Historically, North America was the largest surgical simulation market, on account of the surging number of surgeries and collaborations between training institutes and solution vendors, along with the rising expenditure on healthcare. Asia-Pacific (APAC) is projected to witness the fastest industry growth in the near future, at a CAGR of 17.0%. This would be a result of the expanding medical tourism industry, which is attracting people from developed countries to come here for cost-effective surgeries. Similarly, the geriatric population is also rising here, which is susceptible to various health issues, thereby further increasing the surgery volume and usage of simulators at medical institutes. In a conscious effort to up their market share, companies offering surgical simulation solutions are entering into partnerships and collaborations, as such measures give them the capability to:

Identify the learning objectives associated with various surgical procedures and incorporate them in their simulator modules
Offer their products in new and untapped markets
Explore new methods of medical intervention
Integrate more-inclusive educational content in the software
Expand their presence in core markets
The most prominent companies in the global surgical simulation market include CAE Inc., Simulab Corporation, Mentice AB, MEDICAL-X, Limbs & Things Ltd., 3D Systems Corporation, Voxel-Man, Inovus Ltd., VirtaMed AG, 3-Dmed, eoSurgical Ltd., OSSimTech, Laparo Sp. z.o.o., CATHI GmBH, Gaumard Scientific Company Inc., Surgical Science Sweden AB, Simendo Company, and LAERDAL MEDICAL AS.

Till 2030, the larger share in the market, in terms of revenue, would be held by the products bifurcation. This is attributed to the rising integration rate of simulators in training operations at educational institutes, on account of the growing number of surgical procedures around the world.

Academic & research institutes, which had made the most use of surgical simulation solutions in the past, will keep maintaining this trend in the coming years. This is credited to the rising adoption of this training technique to make students more proficient in medical operations. Moreover, the number of such educational centers is increasing, as is the funding being provided to them by the government, to procure advanced training systems.

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