Medical simulation market growing $2,526 million by 2023 - Medical Training Magazine

Medical simulation market growing $2,526 million by 2023

A new report published by Allied Market Research titled “Medical Simulation Market by Product & Service, Fidelity, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, says the global medical simulation market is estimated to grow exponentially in the next few years. In 2016, it was valued at $986 million and is estimated to reach $2,526 million by 2023, growing at a compounded annual growth rate (CAGR) of 14.3% from 2017 to 2023.

The global medical simulation market is driven by a growing emphasis on patient safety and outcomes, associated benefits of medical simulation and enlightening the medical fraternity about the evolution of medical technology and procedures. This market is segmented based on product and service, fidelity, end-users and regions.