Surgical Simulation Market Opportunities, Emerging Trends, Competitive Strategies and Forecasts 2021-2030

November 09 15:25 2021
Surgical Simulation Market Opportunities, Emerging Trends, Competitive Strategies and Forecasts 2021-2030
The Asia-Pacific surgical simulation market is expected to witness the fastest growth during the forecast period due to the increasing medical tourism activities and surging geriatric population.

A number of factors, such as the surging volume of surgical procedures, mounting geriatric population, and increasing preference for minimally invasive surgeries, are expected to drive the surgical simulation market at a CAGR of 16.9% during the forecast period (2021–2030). In addition, the rapid development of technologically advanced simulators will contribute to the market growth. Due to these factors, the market revenue will surge from $366.5 million in 2020 to $1,643.7 million by 2030.

The rising preference for minimally invasive surgeries, owing to the benefits attached to them, is one of the key contributors to the market growth. Minimally invasive surgical procedures render less post-operative pain because they involve smaller incisions and are less scarring. As these surgeries involve smaller incisions, the organs can easily retain their original structure, without damage to their cellular layers. Moreover, these procedures exhibit higher operational accuracy as they are video-assisted surgeries.

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Another growth driver for the surgical simulation market is the global increase in the volume of surgeries owing to the mounting cases of chronic diseases globally. Medical professionals around the world are using simulators to prevent or minimize medical errors during actual surgeries. Patients suffering from chronic diseases, such as cancer, cardiovascular diseases (CVDs), and kidney disorders, are required to undergo several surgical procedures for diagnosis and treatment. Additionally, the soaring cases of road accidents will augment the demand for surgical simulation products.

The offering segment of the surgical simulation market is bifurcated into products and services. Of these, the products category accounted for the larger market share in 2020, and it is projected to retain its dominance during the forecast period. This can be credited to the soaring number of surgical procedures, primarily on account of the growing prevalence of chronic disorders globally. The products category is further classified into cardiac, arthroscopic, endoscopic, neurological, gynecological, laparoscopic, and others.

According to P&S Intelligence, the North American surgical simulation market will generate the highest revenue throughout the forecast period. This will be due to the increasing collaborations between healthcare associations and market players, rising volume of surgeries, and mushrooming healthcare expenditure in the region. Whereas, Asia-Pacific (APAC) is expected to exhibit the fastest growth in the forecast years due to the flourishing medical tourism sector, booming geriatric population, and mounting investments being made by the market players in the region.

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Therefore, the soaring number of surgical procedures and increasing inclination toward minimally invasive surgeries will supplement the market growth.

Market Size Breakdown by Segment

Based on Offering

  • Products
    • Endoscopic
    • Laparoscopic
    • Cardiac
    • Gynecological
    • Arthroscopic
    • Neurological
  • Services
    • Educational
    • Technical

Based on End User

  • Academic & Research Institutes
  • Hospitals
  • Surgical Clinics
  • Military Organizations

Geographical Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • Latin America
  • Middle East and Africa

Browse Other Related Reports

Surgical Navigation System Market – Geographically, North America has been the largest surgical navigation system market because of its advanced healthcare infrastructure and adoption of enhanced medical equipment.

Radiofrequency Ablation Devices Market – Whereas, Asia-Pacific market is expected to register the fastest growth in the radiofrequency ablation devices market during the forecast period, due to the soaring geriatric population, who are highly susceptible to chronic disorders.

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