AR/VR Medical Simulation Global Market Size, Share, By Component, By Application, By Technology, By End User, Regional Outlook and Forecast 2024-2033 | Siemens AG, Eon Reality Inc., Osso VR Inc., AppliedVR Inc., SimforHealth

Overview and Scope
AR/VR medical simulation involves the use of immersive technologies to create realistic virtual environments and scenarios for medical education and training. These simulations, by giving hands-on experience as well as opportunities for repetition and feedback, can increase clinical skills, information retention, confidence, and ultimately patient outcomes.

Sizing and Forecast
The AR/VR medical simulation market size has grown exponentially in recent years. It will grow from $2.74 billion in 2023 to $3.30 billion in 2024 at a compound annual growth rate (CAGR) of 20.3%. The growth in the historic period can be attributed to the focus on resuscitation training, increased demand for minimally invasive surgical procedures, increased remote healthcare solutions, rise in pediatric critical care training, increased demand for healthcare services, and increased use of medical simulators.

The AR/VR medical simulation market size is expected to see exponential growth in the next few years. It will grow to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%. The growth in the forecast period can be attributed to increasing demand for medical training solutions, rising healthcare expenditure, increasing population, rising chronic diseases, and focus on patient safety and quality care. Major trends in the forecast period include computer-based simulations, advancements in graphics and processing power, virtual reality (VR) surgical simulations, medical imaging technologies, miniaturization and mobility, and technological advancements in surgical tools.

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Segmentation & Regional Insights
The ar/vr medical simulation market covered in this report is segmented –
1) By Product And Service: Medical Simulation Anatomical Models, Web Based Simulation, Medical Simulation Software, Simulation Training Services
2) By Application: Medical Education, Patient Care Management, Other Applications
3) By End-Users: Hospitals And Healthcare Institutions, Medical Schools And Universities, Military Organizations, Other End-Users

North America was the largest region in the AR/VR medical simulation market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the AR/VR medical simulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
An increasing number of surgeries is expected to propel the growth of the AR/VR medical simulation market going forward. Surgeries refer to medical procedures where a surgeon operates on a patient to treat a condition or disease. Surgeries are on the rise due to several factors, including the aging population, advances in medical technology, and the increasing burden of chronic diseases. Augmented reality (AR) and virtual reality (VR) medical simulations in surgeries enhance training, improve surgical outcomes, and enhance patient care by providing a safe and effective platform for learning, skill development, and preoperative planning. For instance, in April 2022, according to the Aesthetic Society, the US-based organization for plastic surgery and cosmetic medicine, surgical procedures increased by 54% in 2021 from the previous year. In 2021, a plastic surgeon on average completed 320 surgical procedures, compared to 220 in 2020. Therefore, the increasing number of surgeries is driving the growth of the AR/VR medical simulation market.

Key Industry Players
Major companies operating in the AR/VR medical simulation market report are 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.; Kyoto Kagaku Co. Ltd.; VirtaMed AG; BioDigital Inc.; Vuzix Corporation; Oxford Medical Simulation; Laerdal Medical AS; AppliedVR Inc.; SimforHealth; Precision OS; Medical Realities; UbiSim Inc.; GigXR; Virtual Education Systems (VRpatients); MedVR Education; PeriopSim; InfiVR.com

The ar/vr medical simulation market report table of contents includes:
1. Executive Summary