Surgical Simulator Market Report
Surgical Simulator Market is Segmented by Type (Technology-based Simulator [Virtual Reality, Augmented Reality, and Mixed Reality], Model-based Simulator, and Computer-based Simulator), by End-Use Type (Academic & Research Institute, Hospitals, and Ambulances), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Surgical Simulator Market is Segmented by Type (Technology-based Simulator [Virtual Reality, Augmented Reality, and Mixed Reality], Model-based Simulator, and Computer-based Simulator), by End-Use Type (Academic & Research Institute, Hospitals, and Ambulances), and by Region...
Impact of COVID-19 on Surgical Simulator Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The global surgical simulator market was valued in 2020 was US$ 332.7 million, and it is likely to witness a growth by CAGR of 13.6%, during 2021-2026, to reach $736.7 million by 2026. Surgeries are conducted for the treatment of chronic and acute diseases, diagnostic reasons, mending injuries, and improving appearance. The rising volume of such surgeries every year is largely resulting in market growth. As a result of the rising prevalence of chronic diseases, an increasing number of surgeries, and people's increased disposable money, the demand for surgical simulators is also expanding across the globe.
Another key market driver for surgical simulators is the growing population of senior citizens (60+ years of age), who are at a high risk of physical accidents and acute and chronic diseases. Furthermore, as people get older, they become more concerned about their health and appearance, which is why they are increasingly opting for cosmetic procedures, which can be practiced on simulators.
The surgical simulator market is segmented by type as technology-based simulators, model-based simulators, and computer-based simulators. In 2020, technology-based surgical simulators accounted for a major share of the pie. The technology-based surgical simulators are further classified as virtual reality (VR) based, augmented reality (AR) based, and mixed reality (MR) based simulators. Among these simulators, VR-based simulators are dominant in the market, followed by the mixed reality-based surgical simulators, whereas AR-based simulators are very few in the market but its market is likely to rise with a growth rate of 17.6% during the period 2021-2026.
In terms of regions, North America is expected to remain the largest market for surgical simulators during the forecast period. This region is home to a large number of major companies, such as CAE Inc., Gaumard Scientific, Laerdal Medical, and Nasco Healthcare, which propel the regional market for surgical simulators. Europe and Asia-Pacific are also likely to create sizeable opportunities in the upcoming years, driven by increasing healthcare expenditures in both regions.
The following are the key players in the surgical simulator market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s surgical simulator market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The surgical simulator market is segmented into the following categories:
Surgical Simulator Market, by Type
Surgical Simulator Market, by End-Use
Surgical Simulator Market, by Region
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The surgical simulator market is estimated to grow at a CAGR of 13.6% during 2021-2026.
Laerdal Medical, Nasco Healthcare, CAE Inc., 3B Scientific, Gaumard Scientific Company Inc., Kyoto Kagaku, Limbs & Things, Mentice AB, Surgical Science, and Vita Med AG are some of the key players in the surgical simulator market.
North America is estimated to remain dominant in the surgical simulator market in the foreseen future.