Industry Background:
A surgical simulator is computer technology developed to simulate surgical procedures for training medical professionals, without the need of a patient, animal or cadaver. It offers clinicians the most realistic hands-on experience in medical training to perform minimally invasive surgeries and interventional procedures, at no patient risk. Moreover, simulation has become a vital part of training for endovascular, laparoscopic, and Ob/Gyn procedures as it offers measurable improvement in skills.
According to AMA Research, the market for Surgical Simulator is expected to register a CAGR of 15.91% during the forecast period to 2027. This growth is primarily driven by Rise in Number of Deaths Due to Medical Mistakes
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | k |
Value Unit | USD (Million) |
Dominating Type | Hospitals |
Key Companies in Study | Simulab (United States), VirtaMed (Switzerland), Surgical Science (Sweden), OSSimTech (Canada), Medical-X among (United States), Simbionix USA Corporation (United States), CAE Healthcare (United States), Applied Medical (United States), Coburger Lehrmittelanstalt (Germany) and 3-Dmed (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Technology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Simulab (United States), VirtaMed (Switzerland), Surgical Science (Sweden), OSSimTech (Canada), Medical-X among (United States), Simbionix USA Corporation (United States), CAE Healthcare (United States), Applied Medical (United States), Coburger Lehrmittelanstalt (Germany) and 3-Dmed (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 9 Sept 2019, VirtaMed announced a collaboration with Smith+Nephew, the global medical technology business, to provide surgical simulation training as part of their Training & Education portfolio for advanced surgical devices.
On 30 Oct 2019, FundamentalVR, developers of immersive training technology for the surgical community has raised USD 5.67M in Series A funding led by Downing Ventures with participation from Tern Plc, Epic Private Equity, Brighteye Ventures, Mayo Clinic, and Sana Kliniken. The round brings total funding to USD 9.3 million allowing the company to further invest in its Fundamental Surgery education platform, the first surgical simulation software system to deploy HapticVR, which combines virtual reality (VR) with cutting-edge haptics (the sense of touch).
Surgical Simulator Market Dynamics:
Attributes | Details |
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Growth Drivers | - Rise in Number of Deaths Due to Medical Mistakes
- The Upsurging Demand for Surgical Simulators from Medical Institutions and Professionals
- Benefits of Simulation over Traditional Learning
- Increasing Demand for Minimally Invasive Treatments
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Influencing Trends | - Virtual Surgery Training Is a Quickly Expanding Sector within the Wider Field Of Healthcare Simulation
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Restraints | - A Budgetary Constraint May Hamper the Growth
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Road Blocks / Challenges | |
Gaps & Opportunities | - Technological Advancements
- Growing Awareness of Simulation Education in Emerging Countries
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Surgical Simulator Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the medium utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Surgical Simulator Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, SEC filings of Surgical Simulator players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Surgical Simulator Study Sheds Light on
The Surgical Simulator Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Surgical Simulator industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Surgical Simulator industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.