Surgical Simulation Market Size Worth $835.2 Million By 2028

 

The global surgical simulation market size is expected to reach USD 835.2 million by 2028, registering a CAGR of 16.1% over the forecast period, according to a new report by Grand View Research, Inc. Rising preference for minimally invasive surgical procedures, increasing focus on patient safety, and growing geriatric population are boosting the market growth. With the growing geriatric population, the problem of surgery for these patients has become increasingly important. With the constant aging population, there arises a need for technology-driven surgical simulation to help avoid or diminish medical errors during surgeries, which, in turn, is contributing to the market growth.

 

During the COVID-19 pandemic, VirtaMed occupied their simulators on ‘tour’ frequent times to support continuing medical education and supply workshops for residents across France, Switzerland, and Germany. In February 2021, the company started its third tour and training initiative in Berlin with the German Knee Society. In addition, during the pandemic, elective surgeries halted, which resulted in a reduced number of cases available for the education of surgical populaces. Versatile and expanding surgical education solutions are expected to enhance the market growth in the coming years.

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Due to technological advancements, 3D printing has gained traction in the medical field in recent years. The applications of 3D printing technology have grown from using 3D models to augment patient education to patient-specific. Moreover, 3D-printed surgical simulators have many advantages over other forms of simulation. Thus, the rising acceptance of 3D printing in surgical simulation contributes to market growth.

 

Simulation-based healthcare education is a newer modality of training, which was established primarily for patient safety. Rising government initiatives to advance patient safety & patient outcomes in healthcare further support the market growth. For instance, in November 2021, NHS Scotland incorporated physical and digital simulation into its surgical training program to permit trainees to develop vital skills before coming face-to-face with patients.

North America was the dominant regional market in 2020 due to the presence of a large number of key players. Product innovation by market players further facilitated regional market growth. Market players are adopting strategic initiatives, such as partnerships, collaborations, and business expansion to gain deeper market penetration. For instance, in May 2021, PrecisionOS introduced the first fully interactive robotics platform in VR.

Surgical Simulation Market Report Highlights

·         The orthopedic surgery segment dominated the market in 2020 due to the increased prevalence of orthopedic disorders

·         The neurosurgery segment is expected to register a lucrative CAGR over the forecast period due to the high prevalence of neurological disorders and the need for a high level of precision in neurosurgery as a result of the intricate nature of brain vasculature

·         In terms of revenue, the plastic material segment dominated the market in 2020. Factors, such as its compatibility with a variety of 3D printing technologies and the existence of advanced thermoplastics, are anticipated to contribute to the segment growth in the years to come

·         The hospital segment dominated the market in 2020 owing to the collaboration of hospitals with industry partners to develop custom 3D simulator solutions

·         For instance, in February 2021, Apollo Hospitals partnered with Anatomiz3D Medtech to create Hospital 3D Printing Labs in India

·         The specialty center segment is anticipated to witness the second-fastest CAGR over the forecast period

Key Companies & Market Share Insights

Key market players adopt various strategic initiatives to gain deeper market penetration. For instance, in May 2021, PrecisionOS introduced the first fully interactive robotics platform in VR. Using the ground-breaking VR medical simulation offered by the company, all OR people trained on robotics technology at the same time, eventually minimalizing on-the-job learning circumstances that have the potential to affect patient care.

 

In July 2021, the Rush Center for Clinical Skills and Simulation (RCCSS) and CAE Healthcare proclaimed that they have entered a simulation research partnership to improve healthcare education and advance patient safety, including support for simulation research initiatives of RCCSS. Through this partnership, Rush students and industry partners now have access to the most advanced medical simulation technology. Some of the prominent key players in the global surgical simulation market include: Materialise, Startasys Ltd., Canadian Aviation Electronics, Surgical Science, Mentice, Gaumard Scientific, Simulab Corp., VirtaMed AG, 3-Dmed, Laerdal Medical, 3D Systems, Osteo3d, Axial3D, Formlabs

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