Surgical Simulation Market: Current Analysis and Forecast (2021-2027)

The global surgical simulation market is predicted to grow at a significant CAGR of ~15% between 2021 and 2027. The rise in government initiatives related to the safety of the patient is attributed to the growth of the surgical simulator market. Moreover, the increasing number of surgical procedures positive impact on the market for medical simulators. For instance, as per the OECD stats, the total number of surgical procedures accounted in Canada was 411,668 in 2019, increased from 396,218 in 2017. Owing to the safety of the patient, the demand for proper training among health care professionals is increasing coupled with the technological advancements in the simulation industry revolutionized the market for surgical simulators.

Based on specialty, the market is segmented into cardiac surgery, gastroenterology, neurosurgery, orthopedic surgery, and others. In 2020, orthopedic surgery dominated the market. Rapidly changing lifestyles, the prevalence of lifestyle-associated disorders including deformed posture is increasing, which, in turn, boosts the incidences of orthopedic diseases. Moreover, the increasing complexity of the surgeries resulted in the requirement of the proper training for the healthcare professionals, attributes to the growth of the surgical simulation market.

On basis of end-user, the market is categorized into academic institutes, hospitals, and others. Amongst them, the academic institutes are expected to witness significant growth during the forecast period. Increasing awareness regarding patient safety and a rapidly rising number of medical institutes around the world are the key factors for the future growth of the market. For instance, in India 386 medical colleges were present in 2014 that number increased by 220 and reached 606 in 2022. Moreover, the increasing focus on medical errors leads to the induction of the proper training programs at the foundation level. Furthermore, the proper infrastructure for learning in the academic institutions owing to their significant market share in the foreseeable future.

For a better understanding of the market adoption of the Surgical Simulation Industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), and Rest of World. During the forecast period, North America is expected to have a higher CAGR due to the ongoing development of advanced products using AI and AR coupled with growing healthcare expenditure, which has fueled manufacturing output levels, positively influencing the global surgical simulation industry landscape. Additionally, soaring health consciousness among people and the availability of improved healthcare infrastructure are attributed to the growth of the simulation market in the region.

Some of the major players operating in the market include CAE Inc., Laerdal Medical,3D Systems, Gaumard Scientific, Limbs & Things, Surgical Science Sweden AG, Kyoto Kagaku, Mentice AB , Intelligent Ultrasound Group Plc, Simulab Corp