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The global surgical simulation market generated a revenue of $337.4 million in 2019, and is expected to grow at a 16.4% CAGR during the forecast period (2020u20132030), as stated by a P&S Intelligence report. The key factors resulting in the growth of the market are the rising popularity of minimally invasive surgeries (MIS), surging volume of surgeries, advancements in the medical device technology, and rising geriatric population. Surgical simulation solutions are utilized for creating realistic scenarios for student, so that they can acquire necessary skills.
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16.4% CAGR Expected in Surgical Simulation Market During 2020—2030 © P&S Intelligence. All rights reserved Page 1
One of the major factors propelling the demand for surgical simulation products and services is the surging geriatric population across the world. According to the American Geriatric Society (AGS), the share of the people above the age of 65 in the U.S. will be more than 20% of the total population of the country by 2030. Similarly, as per the United Nations, the number of geriatric people in India, the U.S., Brazil, and China will be 324 million, 107 million, 58 million, and 437 million respectively by 2050. Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/surgical- simulation-market/report-sample The rising preference for minimally invasive surgeries (MIS) and the soaring number of surgical procedures are the other important factors fuelling the escalating adoption of surgical simulation products and services throughout the globe. Due to these factors, the revenue generated from the sales of surgical simulation products was recorded to be $337.4 million in 2019. Moreover, the global surgical simulation market is expected to progress at a CAGR of 16.4% during the forecast period (2020—2030). Make an Enquiry Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry- url=surgical-simulation-market One of the prominent trends presently being witnessed in the surgical simulation market is the rising adoption of virtual reality (VR) and augmented reality (AR) in surgical simulation systems in several countries all around the world. This is mainly being done for providing better skill development and training programs to the medical trainees in various academic and educational instituters and healthcare facilities. For instance, KARL STORZ SE & Co. KG and VirtaMed AG launched a mixed reality simulator called LapTrainer in February 2020 that offers an advanced skill development training program to the medical professionals. Across the globe, the Asia-Pacific (APAC) region is predicted to observe the fastest growth in the utilization of surgical simulation devices during the forecast period. This is mainly credited to the rising geriatric population and flourishing medical tourism industry in the region. Additionally, many surgical simulation device producing and services offering companies and organizations are increasingly setting up their production facilities and offices in the various APAC countries to expand their operations and increase their foothold in the region, which will in turn, boost the sales of such devices in the region in future. © P&S Intelligence. All rights reserved Page 2
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