USD 0.37 billion
Surgical Simulation Market Size, Share, Growth Analysis, By Product(Surgical Simulators, Simulation Software, and Virtual Reality (VR) platforms), By End User(Hospitals, Surgical Training Centers, and Academic Institutions), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2708 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
63
|Figures:
75
Surgical Simulation Market Insights
Global Surgical Simulation Market size was valued at USD 0.37 billion in 2021 and is poised to grow from USD 0.46 billion in 2023 to USD 2.58 billion by 2031, at a CAGR of 24.1% during the forecast period (2024-2031).
High incidence of chronic diseases and an increasing number of surgeries around the world are forecasted to bolster demand for surgical simulation over the coming years. Growing focus on surgical skill enhancement is also a factor that could boost surgical simulation market growth in the future. High adoption of virtual reality (VR) and augmented reality (AR) in surgical simulation solutions is also slated to create new opportunities for market players in the long run. Rising availability of realistic surgical simulation solutions is also slated to promote surgical simulation market growth over the coming years. Risks associated with the traditional training approach can be eliminated using surgical simulation. The advent of the COVID-19 pandemic led to the increased population of surgical simulation and this trend is projected to keep going on over the coming years as well. Increasing penetration of digital technology in the healthcare industry and high adoption of remote learning approaches are slated to create new opportunities for surgical simulation providers in the long run. Rising focus on patient safety and the use of advanced surgical instruments could also boost demand for surgical simulation solutions going forward.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Academic Institutions
Fastest Growth
Surgical Training Centers
Growth Rate
24.1% CAGR
Global surgical simulation market by region
Country Share for North America(%)
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Surgical Simulation Market Segmental Analysis
The global surgical simulation market can be segmented into different categories. Based on product type, the market includes surgical simulators, simulation software, and virtual reality (VR) platforms. Based on surgical specialties, the market is segmented into general surgery, orthopedic surgery, and laparoscopic surgery. On the basis of region, the market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Analysis By Product
Haptic simulators account for a prominent chunk of the global surgical simulation market share owing to their high deployment in different healthcare applications. Meanwhile, virtual reality simulators are projected to gain rapid popularity over the coming years on a global level, which can be linked to the advancements in VR technology. Accurate representation of realistic surgical scenarios by VR simulators is contributing to their rising popularity and driving surgical simulation market growth,
Analysis By End-user
Hospitals and clinics account for a prominent share of the global surgical simulation market share as most surgical training procedures are carried out in these establishments. Launch of innovative surgical training programs and the rising focus on upskilling of medical professionals for new surgical techniques contribute to the high market share of hospitals and clinics.
Academic and research institutions are projected to witness the fastest growth in demand for surgical simulation over the coming years. Rising integration of simulation-based surgical training in medical education and the growing use of surgical simulation systems by aspiring surgeons are also contributing to the rapid growth of this segment.
Global surgical simulation market by End-user
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Surgical Simulation Market Regional Insights
The developed healthcare ecosystem in North America allows it to hold sway over the global surgical simulation marketplace. Increasing adoption of advanced medical technologies, growing demand for medical training, and high focus on patient safety are also slated to favor demand for surgical simulation over the coming years. Europe is also predicted to emerge as a lucrative space for surgical simulation providers with countries like Germany and the United Kingdom leading market growth. High investments in healthcare infrastructure and a rising number of minimally invasive surgeries are slated to influence market growth in Europe. I
Surging healthcare expenditure and rising number of surgeries in the Asia Pacific region are projected to provide a lucrative setting for surgical simulation companies. India, China, and Japan are slated to be the most attractive markets for surgical simulation solutions across the forecast period. surgical simulation market expansion is projected to happen at a slower pace in regions such as Latin America and Middle East and Africa owing to rising recognition of surgical simulation-based medical training and growing investments in healthcare infrastructure development over the coming years. Varied regional dynamics still contribute to a bright global surgical simulation market growth.
Global surgical simulation market by Region
- Largest
- Fastest
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Surgical Simulation Market Dynamics
Drivers
- Increasing Demand for Minimally Invasive Procedures: Preference for minimally invasive surgeries is increasing among patients and this is why more surgeons are trying to hone their minimally invasive surgery skills that in turn is driving surgical simulation demand.
- Advancements in Technology and VR/AR Integration: Advancements in the fields of virtual reality (VR) and augmented reality (AR) have allowed surgical simulations to become more accurate and realistic than ever before. This has resulted in increased decision-making and better skills among surgeons.
Restraints
- High Initial Costs:
Deploying a surgical simulation solution requires a substantial amount of capital investment for software, hardware, and other equipment. Many institutions might not have the funding or budget to spend so much and this could impede surgical simulation market growth.
- Limited Realism and Complexity:
Although surgical simulators have come a long way in terms of realism they still have a long way to go, and this limited realism could hinder their adoption going forward. surgical simulation systems are high complex and understanding them requires substantial training, which incurs additional costs and impedes market growth as well.
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Surgical Simulation Market Competitive Landscape
surgical simulation companies are focusing on enhancing the realism of their offerings to provide a more accurate representation of actual surgical scenarios. Integration of artificial intelligence, deep learning, and machine learning is also an area of focus for many surgical simulation providers around the world. surgical simulation market players are also focusing on mergers, collaborations, acquisitions, and partnerships to expand their product portfolio and boost revenue generation on a global level. New companies can focus on providing simulation solutions for specific surgeries to penetrate the market and compete with established companies such as CAE Healthcare, VirtaMed AG, and Surgical Science AB. Product innovation and development of simulation software and hardware for minimally invasive surgical procedures are projected to prime focus of all surgical simulation market players in the long run.
Top Player’s Company Profiles
- CAE Healthcare - Canada
- Inovus Medical - United Kingdom
- 3D Systems Corporation - USA
- Touch Surgery - United Kingdom
- Mentice AB - Sweden
- VirtaMed AG - Switzerland
- Mimic Technologies, Inc. - USA
- Prism Surgical - USA
- HaptX - USA
- Limbs & Things - United Kingdom
- OSSimTech - Canada
- Dassault Systèmes (SIMULIA) - France
- Voxel-Man - Germany
- Medical-X - Netherlands
- Simbionix (a subsidiary of 3D Systems) - Israel
- Simul8 Corporation - USA
- Surgical Science Sweden AB - Sweden
- VRmagic GmbH - Germany
- Surgical Science - Sweden
- Simulab Corporation - USA
Recent Developments
- In April 2024, the Algarve Biomedical Centre announced the full operation of the Algarve's new Surgical Simulation Centre in Loulé. Since the beginning of April, the center has been actively utilized by both aspiring and practicing surgeons. Future surgeons are using it to train safely, while current surgeons are using it to hone and perfect their surgical techniques.
- In January 2024, American Hospital Dubai, known for its expertise in robotic surgeries, initiated a program to train 20 Emirati surgeons by the end of 2024 in the specialized field of robot-assisted surgeries. The program involves several stages, including an online introduction, step-by-step training modules, practice on simulators and dry box modules, and hands-on training with cadavers. The training is conducted by globally recognized and certified trainers who are experts in robotic surgery.
- In January 2024, AIIMS and IIT Delhi teamed up to create AI-based simulators. These simulators are designed to help train future neurosurgeons in performing minimally invasive microscopic and endoscopic surgeries. They provide a way for budding surgeons to practice and improve their skills in a realistic virtual environment.
Surgical Simulation Key Market Trends
- Technological Advancements: Advancements in virtual reality (VR) and augmented reality (AR) technologies are projected to improve the realness and effectiveness of surgical simulation solutions over the coming years. Surgical simulation companies will incorporate these advancements to improve surgical outcomes and provide better simulation.
- Personalized and Specialized Simulation: Custom surgical simulations and a personalized approach towards surgical simulation is projected to create new growth opportunities. Surgeons will be able to refine and hone their surgical skills by opting for specialized and custom surgical simulation solutions. These approaches can cater to individual learning needs and help new surgeons gain confidence in their profession.
- Remote and Distributed Learning: The rising popularity and adoption of remote learning techniques are opening up new avenues of opportunities for surgical simulation providers. The high availability of cloud-based and web-based surgical simulation platforms allows surgeons to practice irrespective of their hardware and also eliminates the need for a training center to a certain extent. The convenience and flexibility of remote learning will boost surgical simulation adoption in the long run.
Surgical Simulation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, the global surgical simulation market is slated to be driven on the back of rising demand for realistic surgical training procedures and the growing digitization of healthcare. Surgical simulation allows medical professionals to perfect their practice and facilitate better decision-making for real-life surgeries. North America is projected to account for a dominant market share of the global surgical simulation market owing to the presence of a developed healthcare infrastructure. The COVID-19 pandemic has had a positive impact on the demand for surgical simulation as it promoted the idea of remote learning. Rising focus on improving patient outcomes and the growing availability of advanced personalized surgical simulation solutions are projected to be key trends to watch out for over the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 0.37 billion |
| Market size value in 2031 | USD 2.58 billion |
| Growth Rate | 24.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Surgical Simulation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Surgical Simulation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Surgical Simulation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Surgical Simulation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Surgical Simulation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Surgical Simulation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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