SEATTLE, July 10, 2019 /PRNewswire/ — According to Coherent Market Insights, the global healthcare simulators market was valued at US$ 1,347.9 million in 2018, and is projected to exhibit a CAGR of 14.7% during the forecast period (2018 – 2026).
Key Trends and Analysis of the Global Healthcare Simulators Market:
The global healthcare simulators market size is expected to witness remarkable growth in the forecast period, owing to increasing launch of new products with new technology and increasing fidelity. For instance, in January 2018, CAE launched LucinaAR with Microsoft HoloLens, the world’s first patient simulator with modelled physiology.
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Moreover, key players in the market are focused on adopting acquisition strategies to expand their product portfolio. For instance, in August 2016, MedaPhor Group plc. acquired Inventive Medical Limited, which is a U.K.-based company that supplies cardio ultrasound simulation products under the HeartWorks brand. This will help MedaPhor Group plc.to strengthen customer base in the U.K.
Rising implementation of simulation technology by medial and academic institutions is also expected to drive the market growth. For instance, according to a report on the U.S. medical school’s curriculum by the Association of American Medical Colleges, 2014, 136 out of 140 medical schools who participated in the survey had simulation centers in which mannequin-based simulation was one of the most commonly practiced type of healthcare education provided to the medical students.
Manufacturers are increasingly focusing on producing high-fidelity products, which can mimic human anatomy as precisely as possible. Currently, Virtual Reality (VR) is the key technology targeted by manufacturers to gain a competitive advantage in the market. For instance, in July 2018, Johnson & Johnson launched VR training program for surgeons and nurses to help improve surgical techniques and drive greater patient outcomes.
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Key Market Takeaways:
- The global healthcare simulators market is projected to witness a CAGR of 14.7% during the forecast period (2018 – 2026), owing to increasing collaboration activities. For instance, in September 2017, CAE Healthcare, in collaboration with American Society of Anesthesiologists (ASA), launched Anesthesia SimSTAT – Trauma, a screen-based simulation module specifically designed to offer anesthesia providers an advanced training involving accident victims.
- Among region, North America is expected to hold dominant position in the global healthcare simulators market during the forecast period. This is owing to presence of major market players in the region that offer novel services integrated with simulators For instance, in September 2018, CAE Healthcare, Inc. started offering a complete simulation center package Sim Center in a Box, which includes 3 CAE manikins, a simulation-based curriculum, as well as a training and quality audiovisual, and center management system.
- Major players operating in the global healthcare simulators market include, Laerdal Medical, 3D Systems, Simulab Corporation, Simulaids, Inc., Kyoto Kagaku, Mentice, Medaphor, CAE Healthcare, Gaumard Scientific Company, Limbs & Things, BT, Inc., Trandomed 3D, Inc., Fujian Zhongli Co., Ltd., and Tellyes Scientific Co., Ltd.
Global Healthcare Simulators Market, By Product and Services Type:
- Anatomical Models
- Interventional/ Surgical Simulators
- Endovascular Simulators
- Ultrasound Simulators
- Dental Simulators
- Eye Simulators
- Patient Simulation
- Web-based Simulation
- Simulation Training Services
Global Healthcare Simulators Market, By Fidelity (Anatomical Models):
Global Healthcare Simulators Market, By End User:
- Academic & Research Institutes
- Military Organizations
Global Healthcare Simulators Market, By Region:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East
- Rest of Middle East
- South Africa
- Central Africa
- North Africa
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SOURCE Coherent Market Insights