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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Further key findings from the report suggest:
- 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
List of Key Players of Surgical Simulation Market
- Materialise
- Startasys Ltd.
- Canadian Aviation Electronics, Ltd.
- Surgical Science
- Mentice
- Gaumard Scientific
- Simulab Corp.
- VirtaMed AG
- 3-Dmed
- Laerdal Medical
- 3D Systems, Inc.
- Osteo3d
- Axial3D
- Formlabs