A lead analyst at AMR has highlighted that the medical simulation market in Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period,

PORTLAND, OREGON, UNITED STATES, March 10, 2022 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global medical simulation market generated $1.42 billion in 2019 and is expected to reach $3.19 billion by 2027, growing at a CAGR of 14.6% from 2020 to 2027. The report highlights the key segments, top investment pockets, growth by segmentation, and competitive scenario.

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The report provides detailed insights on the drivers, restrains, and opportunities to help the market players in devising several growth strategies. Increase in use of virtual and augmented reality, technological advancements in the medical field, and surge in demand for virtual training drive the growth of the global medical simulation market. On the other hand, high costs related to setting up of simulators and limitations regarding implementation in real situations impede the growth to some extent. However, untapped potential in emerging regions presents new opportunities in the industry.

The report also offers an explicit scenario of the impact of the Covid-19 pandemic on the medical simulation market globally. Since the outbreak of the pandemic, simulation exercises have been helping patients and general populations to get acquainted with safety and hygiene practices regulations to prevent contamination. Medical simulations on specific situations such as emergency airway management for patients, transport of a patient with contagious disease, and preliminary treatments have been launched by leading health authorities on their official websites. These factors have impacted the global medical simulation market positively.

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“The growth of the global medical simulation market is attributed to increase in medical errors, rise in minimally invasive surgical procedures and rise in patient safety awareness. Moreover, rising technological development and use of augmented and virtual reality is expected to drive the market growth during the forecast years.” said Onkar Sumant, Manager, Healthcare at Allied Market Research.
The report offers detailed segmentation of the global medical simulation market based on product & services, fidelity, end-user, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue generating segments to accomplish growth in the future.

By product & services segment, the model-based simulation segment accounted for the highest market share in 2019, holding for more than half of the global market. Simultaneously, the web-based simulation segment is projected to cite the fastest CAGR of 15.2% from 2020 to 2027.

By end user, the hospitals segment held more than half of the global medical simulation market in 2019, and will maintain the lion’s share by 2027. On the other hand, the academic institutions segment is expected to manifest the fastest CAGR of 15.3% from 2020 to 2027.

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By region, North America garnered the major share in 2019, garnering nearly half of the total market share and will retain its lead position throughout the forecast period. Asia-Pacific, however, is anticipated to grow at the highest CAGR of 15.2% during the forecast period.

The leading market players analyzed in the global medical simulation market report include Laerdal Medical AS, 3D Systems, Inc., CAE, Inc., Simulaids, Inc., Kyoto Kagaku Co. Ltd., Mentice AB, Simulab Corporation, Limbs and Things, Ltd., Gaumard Scientific Company, Inc., and Surgical Science Sweden AB.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

David Correa
Allied Analytics LLP
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