Healthcare and Medical Simulation Market Size Expected to Reach USD 7.04 Bn by 2034

The global healthcare and medical simulation market size is calculated at USD 2.66 billion in 2025 and is expected to reach around USD 7.04 billion by 2034, growing at a CAGR of 11.44% for the forecasted period.

Ottawa, Dec. 24, 2024 (GLOBE NEWSWIRE) -- The global healthcare and medical simulation market size was valued at USD 2.38 billion in 2024 and is predicted to hit around USD 6.32 billion by 2033, a study published by Towards Healthcare a sister firm of Precedence Statistics.

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Healthcare and Medical Simulation: Transforming Medical Training and Patient Safety

The healthcare and medical simulation market involves the use of various technologies, products and services, and simulation software to create realistic training environments for healthcare professionals. Simulation technologies are an ideal solution to enhance medical education, training, and patient safety. Healthcare organizations are increasingly adopting human patient simulators (HPSs) to capture skills in cognitive-communication procedural performance and psychomotor processes to improve quality and practice safety by minimizing adverse events. It is a safe way to learn clinical skills without endangering patients’ lives and has become crucial in medical training. According to the World Health Organization (WHO), around 1 in every 10 patients is harmed in health care, which highlights the need for appropriate methods, such as simulation, to reduce this number.

Governments, health agencies, and academic institutes worldwide have recognized the effectiveness and importance of simulation learning. Thus, they are dedicating large budgets to establishing new simulation centers. The European Union focuses on simulation through the Horizon 2020 Program. The rising demand for effective training methods in medical institutions and the increasing need for skilled healthcare professionals are expected to contribute to market expansion.

Major Trends in the Healthcare and Medical Simulation Market

• Strong Emphasis on Patient Safety and Reducing Medical Errors: Medical errors are a leading concern in healthcare systems worldwide. Deeply rooted in the theoretical framework of simulation theory, it is an effective way to train healthcare professionals since it creates a real-life, confined training environment where personnel practice effectively. The rationale for this approach is that it minimizes the chances of making errors when solving real-life clinical problems. According to the WHO, more than 3 million deaths occur annually across the globe due to unsafe care. This underscores the critical role of simulation-based education in improving healthcare outcomes.
• Technological Advancements in Simulation: Ongoing advancements in simulation technology, such as virtual reality, augmented reality, and high-fidelity mannequins, are making simulations more realistic. Such innovations allow users to gain a learning experience that provides mock representations of real-life situations that help with clinical skills. The FDA recognizes the effectiveness of AR and VR in medical education and improved surgical accuracy. Furthermore, integrating AI technologies in medical simulation offers methods in which learning adapts to the user’s level in the simulation. Artificial intelligence is also improving training and decision-making to make medical education almost perfect, thereby enhancing the quality of care and patient safety.
• Growing Demand for Minimally Invasive Surgeries: With the growing demand for minimally invasive surgical procedures, there is an increased need for highly specialized training to ensure healthcare providers can perform these complex surgeries with precision. There is a growing need to expand access to resources aimed at mastering clinical practice abilities, which simulation platforms can meet. They otherwise provide the practitioners with opportunities to practice complex procedures, including laparoscopic surgeries, robotic surgeries, and endoscopic interventions, all without compromising the safety of the patient. Furthermore, the push for interprofessional education is encouraging the use of simulations that allow different healthcare disciplines to train together.
  

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Regional Insights

Technological Advancements Supported North America’s Dominance: What till 2040?

North America dominated the healthcare and medical simulation market with the largest share in 2023. This is mainly due to the increased availability of advanced healthcare technology. The region, particularly the U.S., is at the forefront of technological advancements, leading to rapid innovations in simulation technologies. Early adoption of modern technologies and strong focus on patient safety further propelled the regional market growth. In addition, rising grants and funding programs by government and private organizations to implement a sophisticated simulation-based education contribute to market in the region.

Asia Pacific: The Fastest-growing Region

The market in Asia Pacific is anticipated to expand at the fastest growth rate in the coming years. This is mainly due to the increasing demand for healthcare simulation to enhance patient care. The increasing focus on a patient-centric approach and patient safety is encouraging the adoption of advanced healthcare training solutions, including healthcare simulation. However, simulation-based training is efficient for improving patient care and safety. Moreover, rising government initiatives to improve healthcare infrastructure can have a positive impact on the regional market.

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Healthcare and Medical Simulation Market Segmentation

• By product and services, the anatomical models segment dominated the market in 2023. This is mainly due to their widespread use in medical education, training, and surgical planning. These models offer a realistic representation of human anatomy for hands-on learning and practice.
• By technology, the procedural rehearsal technology segment registered dominance in the market in 2023 owing to its ability to provide realistic, immersive simulations that allow medical professionals to practice complex procedures in a risk-free environment. This technology enhances skills and improves patient outcomes.
• By end-use, the academic institutes segment dominated the market for healthcare and medical simulation in 2023. This is mainly due to the rising number of medical students in institutions, the availability of favorable infrastructure, and the increasing focus on research in medical simulators.
  

Competitive Landscape

The healthcare simulation market is evolving rapidly with the ongoing technological advancements. Key players operating in the healthcare and medical simulation market include 3D Systems, Inc., CAE Healthcare, Inc., Simulations Plus, Inc., SGMC Health, Oxford Medical Simulation, GigXR, Inc., SimX, Medical-X, Laerdal Medical, Mentice, Gaumard Scientific, and Simulaids. These companies are focusing on bringing innovations to the market to advance healthcare education.

Recent Developments

• In March 2024, Wolters Kluwer Health launched two resources to advance simulation in nursing education, helping nursing students build actionable skills from classroom knowledge: a new book titled A Practical Guide for Nurse Practitioner Faculty Using Simulation in Competency-Based Education and an upcoming webinar, “Simulation in Competency-Based Nurse Practitioner Education.”
• In November 2023, the College of Physicians and Surgeons of Mumbai inaugurated its state-of-the-art high-fidelity Simulation Lab. This milestone highlights the institution’s commitment to advancing medical training, fostering innovation, and enhancing clinical performance.
• In July 2024, MediSim VR, a leader in healthcare simulation training technology, announced the establishment of Chennai's first Center of Excellence (CoE) VR lab at Sri Ramachandra Institute of Higher Education and Research (SRIHER). This state-of-the-art facility provides immersive, interactive VR training for medical students across the nation.
  

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Segments Covered in the Report

By Product and Services

• Anatomical Models
  • Patient Simulators
    • High-Fidelity Simulators
    • Medium-Fidelity Simulators
    • Low-Fidelity Simulators
  • Task Trainers
  • Interventional/Surgical Simulators
    • Laparoscopic Surgical Simulators
    • Gynaecology Surgical Simulators
    • Cardiac Surgical Simulators
    • Arthroscopic Surgical Simulators
    • Other Interventional/Surgical Simulators
  • Endovascular Simulators
  • Ultrasound Simulators
  • Dental Simulators
  • Eye Simulators
• Web-Based Simulation
• Medical Simulation Software
  • Performance Recording Software
  • Virtual Tutors
• Simulation Training Services
  • Vendor-Based Training
  • Educational Societies
  • Custom Consulting and Training Services

By Technology

• Procedure Rehearsal Technology
• Virtual Patient Simulation
• 3D Printing
  

By End-Use

• Academic Institutes
• Hospitals
• Military Organizations
• Research
• Medical Device Companies
• Others

By Region

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa (MEA)
  

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About Us

Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.

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