The surgical simulation market is projected to grow at a CAGR of 24.95% to reach US$1,265.035 million by 2026 from US$266.041 million in 2019.
Surgical simulation is essentially a computer technology, developed to train medical practitioners. One does not require any patient or animal to perform it. The use of motion sensors and three-dimensional graphics makes the experience realistic. The user can perform the entire surgery upon the virtual organs and it also enables the users to physically feel the tissue and the organs. It helps in minimizing the errors and lethal infection rate. It allows the trainees to commit mistakes and learn from them, without risking any life.
A major reason for the growth of this market is the increase in the number of chronic diseases
The number of people suffering from chronic diseases is rising with time, this, in turn, fuels the need for the surgical simulator. According to the world health organization, chronic diseases (non-communicable diseases) are responsible for 71% of deaths across the world, equivalent to 41 million people dying each year. In Asian countries, chronic diseases are gradually becoming growing health of concern. According to the World Economic Forum, “One in three adults worldwide has multiple chronic conditions: cardiovascular disease alongside diabetes, depression as well as cancer, or a combination of three, four, or even five or six diseases at the same time. NCDs represent more than half the global burden of disease.” with the surge of such chronic diseases worldwide, the global health care system has recognized the importance of surgical simulation.
The changing demographic transition is expected to drive the demand for this market in the forecast period.
The world is almost on the verge of a demographic milestone. The rapidly ageing population, globally, needs to incorporate both, a technology-driven health care system and cutting-edge teaching. According to the world health organization, “The number of people aged 65 or older is projected to grow from an estimated 524 million in 2010 to nearly 1.5 billion in 2050, with most of the increase in developing countries.” The continuously ageing population is likely to challenge the health care system. This dramatic rise in the elderly population is most prominent in Asia followed by Europe. According to the Population Reference Bureau, Japan has 28 percent of the population of age 65 and above followed by Italy, Finland, and Greece. 12 percent of China’s population and 16 percent of the United States population is of the age 65 and above. With the continuous ageing of the population, there arises a need for technology-driven surgical simulation. With more trained surgeons across the world, the demand will be effectively met.
The rising awareness in developing countries is anticipated to fuel the growth of this market.
There lie many opportunities for the surgical simulation market in developing countries. The awareness about this training technique is rapidly rising. Many initiatives such as development programs are organized in the developing economies in order to spread awareness about the various benefits associated with surgical simulation training. According to the World Health Organization, the annual mortality rate due to cardiovascular diseases is 17.9 million, whereas, cancer claims 9.6 million lives every year. Most of the people suffering from such chronic diseases are from developing countries. World Health Organization’s estimates show that 85% of these deaths take place in low-and middle-income countries. Rapid unplanned urbanization and globalization of unhealthy lifestyles are a few prominent causes. It has become imperative for developing countries to adopt technology-driven healthcare facilities, move towards a conventional medical system and train more surgeons in order to meet the ever-growing demand for a better healthcare system.
Prominent key market players in the surgical simulation market include CAE Inc., Simulab Corporation, and 3D Systems, Inc. MEDICAL-X, among others. These players are implementing various development strategies in order to achieve a competitive edge in the market. North America is forecasted to account for a considerable share of the surgical simulation market. The Asia-Pacific market is also projected to witness growth due to high technological developments and its ageing population. Also, the number of Academic and research institutes are growing speedily due to the funding done by the government. This will lead to an increase in the adoption of surgical training and hence make surgeons more proficient.
|Market size value in 2019||US$266.041 million|
|Market size value in 2026||US$1,265.035 million|
|Growth Rate||CAGR of 24.95% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Product, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||CAE Inc., Gaumard Scientific Company, Inc, Simulab Corporation, Surgical Science Sweden AB, 3B Scientific, Simendo B.V., 3D Systems, Inc, VirtaMed AG, MEDICAL-X, OSSim Tech|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the surgical simulation market?
A1. The global surgical simulation market is projected to grow at a CAGR of 24.95% over the forecast period.
Q2. What is the size of the global surgical simulation market?
A2. Surgical Simulation Market was valued at US$266.041 million in 2019.
Q3. What will be the surgical simulation market size by 2026?
A3. The surgical simulation market is projected to reach a market size of US$1,265.035 million by 2026.
Q4. Who are the major players in the surgical simulation market?
A4. Prominent key market players in the surgical simulation market include CAE Inc., Simulab Corporation, 3D Systems, Inc. MEDICAL-X, among others.
Q5. What factors are anticipated to drive the surgical simulation market growth?
A5. A major reason for the growth of the surgical simulation market is the increase in the number of chronic diseases.
Surgical Science Sweden AB
3D Systems, Inc
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