Medical Simulation Market Size and Growth Rate:
The Medical Simulation Market was registering a CAGR of 12.43% from 2019 to 2024.
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Medical Simulation Market Overview:
Medical simulation is a process of inventing a real-life medical situation to show and teach healthcare professionals. The global medical simulation industry is driven by circumstances such as increasing emphasis on patient safety & outcomes, compared benefits of medical simulation such as illustrating complex and normal cases to professionals and enlightening the medical fraternity about the development of medical technology.
Medical Simulation Market Growth Drivers and Restraints:
According to an article distributed by NCBI, more than 250,000 victims die every year due to medical errors, which makes it the third leading cause of death in the world. The advent of simulation in healthcare has significantly decreased the number of deaths due to unsafe care. Furthermore, the performance of clinicians, especially increasing patient safety outcomes, has changed in recent years with the use of simulation techniques. These factors are anticipated to boost the growth of the market in the near future. Nevertheless, the high set-up cost of simulation and other related costs are anticipated to impede the market growth.
Minimally invasive methods require specific psychomotor skills. Simulation provides a decent tool for learning and training of such skills. Many simulation modalities are used for learning and preparation for minimally invasive surgeries. Various animal models, virtual reality, and video managers can be used for simulation of minimally invasive systems. Thus, surging demand for such surgical systems is providing an upthrust to the market.
In extension, the growing significance of various health apps, surgical robots, medical visualization, and preventive medicines is supporting improved penetration of advanced technologies in healthcare simulation. This, in turn, is likely to increase the growth of the market.
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Medical Simulation Market Geographical Segmentation:
North America accounted for the biggest share of the Medical Simulation market in 2016, followed by Europe and the Asia Pacific. The high selection of simulation by medical universities and well-established distribution channels, training centers, accessibility to technologies, and the increasing number of healthcare professionals demanding hands-on patient training are the main factors responsible for the highest share of North America in the global Medical Simulation market.
Key players of the Medical Simulation Market:
The outstanding players in the world Medical Simulation Market are 3D Systems (US),CAE (Canada), Laerdal Medical (Norway), Simulab Corporation (US),Limbs & Things (US), Simulaids (US),Kyoto Kagaku (Japan),Metaphor (UK), Mentice (Sweden), and Gaumard Scientific Company (US).
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