Portable Minimally Invasive Surgery Simulators Market To Generate $479.9 Million Revenue by 2030
- Published: May 2022
The global portable minimally invasive surgery simulators market is projected to generate $479.9 million revenue in 2030, advancing at a CAGR of 13.9% during 2021–2030. This is majorly attributed to the increasing number of surgical procedures, development of technologically advanced products, growing geriatric population, and rising preference for MISs. The major companies in the market are investing in the development of technologically advanced products that can help healthcare practitioners enhance their surgical skills.
According to the WHO, by 2030, 1 in 6 people will be aged 60 years or over, globally. With the growing population of the elderly, the demand for minimally invasive procedures will increase, thus resulting in the growing sales of portable MIS simulators.
The pandemic has left a limited impact on the market growth, as the physical way of training was hampered due to workforce and staffing concerns and intraoperative viral transmission risk. Later, to cope with the situation, the government of different nations started to provide virtual training to practicing professionals, using portable simulators.
Endoscopic Simulators Category To Witness Fastest Growth
Endoscopic simulators are projected to witness the fastest growth in the years ahead. This is mainly attributed to the rise in the number of endoscopic surgeries, mainly due to their minimally invasive nature, lesser recovery time, and lower cost compared to conventional surgeries. The advantages of endoscopic surgeries have also contributed to the market dominance of this category till now.
Moreover, the medical training centers category accounted for the major market share, and it is expected to maintain its dominance in the foreseeable future. This is attributable to the high demand for educational training programs in these institutes to enhance the clinical performance of residents and rapid shift toward minimally invasive treatments, thus leading to a growing demand for trained professionals.
Geographically, the APAC region is expected to witness the highest growth rate, of around 16.9%, in the coming years, on account of the increasing medical tourism activities and surging geriatric population in the region. According to the United Nations Population Fund for the Asia & the Pacific (UNFPA), by 2050, one in four people in the region will be over 60 years old.
Product Launches and Approvals Are Most-Effective Strategic Measures
Major players in the portable minimally invasive surgery simulators market have been extensively involved in product launches and approvals. For instance, in February 2022, Kyoto Kagaku Co. Ltd. launched M55C Physiko Plus in Europe. It is an educational product that allows users to acquire basic physical assessment skills.
Key enterprises in the market include CAE Inc., 3-Dmed, Surgical Science Sweden AB, Olympus Corporation, VirtaMed AG, Inovus Ltd., Mentice AB, MEDICAL-X, eoSurgical Ltd., Laparo Sp. z.o.o., CATHI GmbHK.K. MedVision, Kyoto Kagaku Co. Ltd., Accurate SRL, and Biomed Simulation Inc.