Surgical Simulation Market is is projected to reach a Revenue of US$ 3.1 Bn at a CAGR of over 26.3% during 2023-2032
Surgical Simulation Market analysis report by Persistence Market Research shows that global sales of Surgical Simulation Market in 2021 was held at US$ 304.1 Mn. With 24.1% CAGR, the market is projected to reach a valuation of US$ 3.1 Bn by 2032. Market revenue through polymer is expected to be the highest and is projected to grow at a CAGR of over 26.3% during 2022 – 2032.
Surgical simulation is the process of simulating surgical procedures using virtual reality or physical models to provide hands-on training to medical professionals. These simulations help to improve the skills and knowledge of surgeons, reduce errors, and enhance patient safety. The surgical simulation market has experienced significant growth in recent years due to the increasing demand for minimally invasive surgeries, advancements in technology, and the growing need for training and education in the healthcare industry.
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The following are a few of the leading companies on the global market for Surgical Simulation:
Materialise, Stratasys Ltd, Canadian Aviation Electronics Ltd, Surgical Science, Mentice, Gaumard Scientific, VirtaMed AG, Osteo3d, Simulab Corp., 3-Dmed, Laerdal Medical, 3D Systems, Inc., Axial3D, Formlabs
The surgical simulation market is segmented by product type, application, end-user, and region. The product type segment includes software, simulators, and accessories. The application segment comprises general surgery, gynecology, orthopedics, neurology, and others. The end-user segment includes hospitals, surgical centers, and others.
North America dominates the surgical simulation market due to the high adoption of surgical simulations, favorable reimbursement policies, and advanced healthcare infrastructure. However, the Asia Pacific region is expected to witness significant growth during the forecast period due to the increasing demand for minimally invasive surgeries and the growing need for training and education in the healthcare industry.
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The surgical simulation market is expected to grow at a significant rate during the forecast period due to the increasing demand for minimally invasive surgeries, advancements in technology, and the growing need for training and education in the healthcare industry. However, the high cost of surgical simulations and the limited availability of skilled professionals may hinder market growth. Additionally, the lack of standardization in surgical simulations and the potential risks associated with these devices may also pose a challenge to market players. Overall, the surgical simulation market is expected to witness steady growth due to the ongoing efforts to improve the safety and efficacy of surgical simulations and the increasing adoption of these simulations in the healthcare industry.
Some of the key players in the Surgical Simulation Market include Materialise, Stratasys Ltd, Canadian Aviation Electronics Ltd, Surgical Science, Mentice, Gaumard Scientific, VirtaMed AG, and Osteo3d.
Some of the recent developments of key Surgical Simulation service providers are as follows:
- In November 2021, Materialise decided to exercise its option to purchase Link3D Inc., a provider of additive workflow and digital manufacturing software that helps clients in the automotive, aerospace, and defense industries grow and integrate their AM operations across complicated supply chains and IT environments. The deal, which was subject to the usual requirements for this type of transaction, was completed in January 2022. Materialise paid US$ 33.5 Million for 100% ownership stake in Link3D.
- In January 2021, Stratasys Ltd announced the completion of its acquisition of Origin, which will take effect on December 31, 2020. Origin’s software-centric additive manufacturing system, which delivers printing technology associated with digital light processing for production-oriented polymer applications, has been acquired.
- In July 2021, Surgical Science entered into a conditional agreement to acquire all outstanding shares of Simbionix USA Corp., which uses simulation to train surgeons and other medical specialists in a variety of areas, including robotic surgery. The deal was carried out in cash and debt-free consideration of US$ 305 million.
Key Segments Covered in Global Industry Research
Key Segments Covered in Surgical Simulation Industry Research
By Material Type
- Other Polymers
- Orthopedic Surgery
- Cardiac Surgery/Interventional Cardiology
- Reconstructive Surgery
- Oncology Surgery
- Other Specialties
- Specialty Centers
- Other End-uses
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