Surgical Simulator Market Growth Analysis

Market Insights

The Surgical Simulator Market was valued at USD 332.7 Million in 2021 and is projected to reach USD 736.7 Million by 2026, registering a CAGR of 13.6% during the forecast period.

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What is a surgical simulator?

A surgical simulator is a device or software program that is designed to replicate surgical procedures, environments, and conditions for the purpose of training surgeons and other medical professionals. Surgical simulators can range from basic physical models, such as mannequins, to complex virtual reality systems that provide a realistic, immersive experience.

Surgical simulators are used to provide medical professionals with hands-on experience in a safe, controlled environment. They allow trainees to practice procedures and develop the skills necessary to perform surgeries without the risk of harm to living patients. Simulators can also be used to evaluate and improve the skills of experienced surgeons.

Market Dynamics

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.

The rising prevalence of chronic diseases, an increasing number of surgeries, and people's increased disposable money, the demand for surgical simulators are also expanding across the globe.

Another key market driver for surgical simulators is the growing population of senior citizens (60+ years of age) 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.

Segment Analysis

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories-

By Type

• Technology-based Simulator [Virtual Reality, Augmented Reality, and Mixed Reality]
• Model-based Simulator
• Computer-based Simulator

By End-Use Type

• Academic & Research Institute
• Hospitals
• Ambulances

By Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

Product Trends

The 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.

Regional Analysis

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.

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Key Players

The following are the key players in the surgical simulator market:

• Laerdal Medical
• Nasco Healthcare
• CAE Inc.
• 3B Scientific
• Gaumard Scientific Company Inc.
• Kyoto Kagaku
• Limbs & Things
• Mentice AB
• Surgical Science
• Vita Med AG

COVID-19 Impact

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

Critical questions answered in the report-

• What are the key trends in the market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Target Audience

Here is the list of the group of customers that the surgical simulator market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

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.

What deliverables will you get in this report?

Research Methodology

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.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.