The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s AR or VR Medical Simulation Global Market Report 2024, the AR or VR medical simulation market is expected to show significant growth in the forecast period.

Market Overview

• Current Market Size: The AR/VR medical simulation market has seen rapid growth, reaching $2.74 billion in 2023.
• Projected Growth: Expected to grow to $3.30 billion in 2024, with a CAGR of 20.3%.
• Future Projections: By 2028, the market is projected to reach $6.96 billion, with a CAGR of 20.5%.

Key Drivers of Growth

• Historic Growth Factors:
  • Focus on resuscitation training.
  • Increased demand for minimally invasive surgical procedures.
  • Rise in remote healthcare solutions.
  • Increased pediatric critical care training.
  • Growing demand for healthcare services.
  • Enhanced use of medical simulators.
• Future Growth Factors:
  • Rising demand for medical training solutions.
  • Increasing healthcare expenditure.
  • Growing global population.
  • Rising prevalence of chronic diseases.
  • Focus on patient safety and quality care.

View More On The AR or VR Medical Simulation Market Report 2024 – https://www.thebusinessresearchcompany.com/report/ar-or-vr-medical-simulation-global-market-report

Major Trends in AR/VR Medical Simulation

• Technological Advancements:
  • Computer-based simulations.
  • Improvements in graphics and processing power.
  • VR surgical simulations.
  • Advances in medical imaging technologies.
  • Miniaturization and mobility of devices.
  • Technological advancements in surgical tools.

Increasing Number of Surgeries

• Surgeries on the Rise: Aging population, advances in medical technology, and increasing chronic diseases are contributing to the rise in surgeries.
• Impact on AR/VR Simulation:
  • Enhances training and surgical outcomes.
  • Provides a safe platform for learning and preoperative planning.
• Example: In 2021, surgical procedures increased by 54% compared to 2020, with plastic surgeons performing 320 procedures on average.

Leading Companies in AR/VR Medical Simulation

• Key Players:
  • Siemens AG
  • Koninklijke Philips N.V.
  • GE HealthCare Technologies Inc.
  • Intuitive Surgical Operations Inc.
  • CAE Inc.
  • 3D Systems Healthcare Inc.
  • Surgical Science Sweden AB
  • Eon Reality Inc.
  • Gaumard Scientific Co.
  • Osso VR Inc.
  • FundamentalVR
  • Mentice AB
  • Limbs & Things Ltd.

Innovative Medical VR Training Platforms

• Focus on Innovation: Major companies are developing innovative medical VR training platforms to stay competitive.
• Example: ORamaVR Inc. launched MAGES SDK in March 2022, the world’s first hyper-realistic VR authoring tool for rapid surgical training and assessment.

Strategic Acquisitions

• Surgical Science and Simbionix:
  • Acquisition: In July 2021, Surgical Science acquired Simbionix for $305 million.
  • Purpose: To expand product offerings and enhance capabilities in virtual reality simulators for medical training.

Market Segmentation

• By Product and Service:
  • Medical Simulation Anatomical Models
  • Web-Based Simulation
  • Medical Simulation Software
  • Simulation Training Services
• By Application:
  • Medical Education
  • Patient Care Management
  • Other Applications
• By End-Users:
  • Hospitals and Healthcare Institutions
  • Medical Schools and Universities
  • Military Organizations
  • Other End-Users

Regional Insights

• Current Largest Market: North America was the largest region in the AR/VR medical simulation market in 2023.
• Fastest Growing Region: Asia-Pacific is expected to be the fastest-growing region during the forecast period.

The AR/VR medical simulation market is poised for significant growth, driven by technological advancements, rising healthcare demands, and the increasing necessity for effective medical training solutions. The continuous development of innovative training platforms and strategic acquisitions further strengthen the market’s potential, making it a crucial component in the future of healthcare education and patient care.

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