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Surgical Simulation Market to Grow at 15.7% CAGR in Coming Years: P&S Intelligence

NEW YORK, April 17, 2019 (GLOBE NEWSWIRE) -- Due to the growing geriatric population, increasing volume of surgeries, rising demand for minimally invasive surgeries, and technologically advancements, the market for surgical simulation is expanding at a rapid pace. In 2017, the global surgical simulation market generated $254.7 million and is projected to witness a CAGR of 15.7% during the forecast period (2018–2023). With the increased number of surgeries performed globally and the rise in awareness about procedural errors, surgical simulation has gained traction across the world.

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Surgical simulation is a technology introduced to imitate surgical procedures for the purpose of providing training to medical practitioners or students without having the need to rely on patients, animals, or cadavers. It is kind of virtual reality system adopted by medical institutes to impart surgical training to medical practitioners in an effort to prepare them for surgeries on actual patients. Surgical simulation helps in brushing up the procedural, technical, and operational skills of medical practitioners.

The surgical simulation market is broadly divided into services and products, based on the offering segment. As a result of the increased number of surgeries performed globally, the demand for surgical simulation products was quite high in the historical period 2013–2017. In 2017, surgical simulation products held a larger share in the market, generating more than 60% of the total revenue. Simulators offer a realistic approach to surgical training via anatomical models, haptic sensation, and 3D images.

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One of the factors that are driving the growth of the surgical simulation market is the increasing number of surgeries performed globally due to the rising prevalence of chronic diseases. Because of the poor lifestyle choices people make these days, such as poor diet, lack of physical activity, and smoking and alcohol abuse, the prevalence of chronic diseases is increasing. Chronic diseases that require surgical invention include cardiovascular diseases, arthritis, and diabetes.

According to the World Bank, 30,537 surgeries were performed per 100,000 people in the U.S. in 2012. Similarly, 28,907 surgeries were done per 100,000 residents in Australia in 2015. The data given by the World Health Organization helps put things into a broader perspective. As per it, in 2012, around 300 million surgeries were performed globally, and this number is only expected to rise. The increasing number of surgical procedures is resulting in a high demand for error-reducing surgical simulation methods, which, in turn, is aiding the surgical simulation market growth.

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Many companies are now investing in the surgical simulation market for the development of technologically advanced products that will help medical practitioners enhance their surgical skills. For instance, in June 2018, CAE Healthcare, a business division of CAE Inc., introduced CAE Ares, an emergency care manikin designed to help emergency care providers meet their life support training requirements. CAE Ares helps in CPR metrics, advanced airway training, defibrillation and pacing, cardioversion, intramuscular injection, needle decompression, and intraosseous and intravenous access. Besides, it has the SymEyes feature, which simulates medical states and conditions related to the eyes.

Thus, the market is slated to prosper with the rising number of surgeries and the growing need for reducing surgical errors, allowing manufacturers to launch more advanced simulators.

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