Major factor driving growth of the global medical simulation market are increasing awareness regarding patient safety and increasing government expenditure on healthcare sector with increasing focus on medical education, training & research.
The global medical simulation market is segmented of the basis of products and services, end user, and region.
On the basis of products and services, the global medical simulator market is segmented into model based simulation, web based simulation, and simulation training services. The web based simulation segment is expected to register highest CAGR over the forecast period. This can be attributed to growing IT infrastructure in educational institutions, widespread availability of internet services.
On the basis of end user, the medical simulator market is segmented into hospitals and clinics, academic institutions and research centers, and military organizations. The hospital and clinics segment is expected to account for highest share in the global medical simulator market in terms of revenue. The academic institutions and research centers segment is projected to register highest CAGR over the forecast period.
On the basis of region, the global medical simulator market is segmented in to North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America is expected to dominate in the global medical simulation market with higher market share when compared to other regional markets, and is expected to continue its dominance during the forecast period. This can be attributed to adoption of simulation by hospitals clinics and educational institutes. Asia Pacific market is projected to witness fastest growth in terms of revenue, owing to increasing focus on medical education, training & research, increasing focus on patient safety in emerging economies in this region.
Key players operating in the global medical simulator market include Laerdal Medical AS, CAE, Inc., 3D Systems, Inc., Simulab Corporation, Simulaids, Inc., Limbs and Things, Ltd., Kyoto Kagaku Co. Ltd., Mentice AB, Surgical Science Sweden AB and Gaumard Scientific Company, Inc.