Global Healthcare/Medical Simulation Market – Analysis and Forecast (2018-2024)

Industry Insights by Product & Services (Medical Simulation Software, Anatomical Models, Web-Based Simulation, and Simulation Training Services), and by End User (Academic Institutes, Hospitals, Military Organizations and Others)

Status : Upcoming
Report Code : VRHC-1047
Available Format : PDF
Industry : Healthcare

Industry Overview

Healthcare simulation is a method of imitating a real-life medical state to reveal and educate healthcare professionals. It is guiding healthcare professionals through usage of innovative technology. The global healthcare/medical simulation market is growing at significant rate, due to advantages of simulation over conventional learning, mounting need for minimally invasive treatments. Different product and services contributed to the healthcare/medical simulation market size. The market has witnessed high demand for anatomical models over the last few years due to mounting primary care services, and scarcity of healthcare professionals.

Market Segmentation

Insight by Product and Services

On the basis of product and services the market is subdivided into, medical simulation software, anatomical models, web-based simulation, and simulation training services. Elevated acceptance of high loyalty products, mounting primary care services, and scarcity of healthcare professionals are some of the factors responsible for the growth of the anatomical models segment. Of all the product and services, the anatomical models accounted foremost share in the healthcare/medical simulation market.

The anatomical model segment is further subdivided into task trainers, dental simulators, patient simulators, eye simulators, task trainers, ultrasound simulators, interventional/surgical Simulators and endovascular simulators. Moreover, the medical simulation services are further subdivided into custom consulting & training services, vendor-based training and educational societies.

Insight by End User

On the basis of end user the market is subdivided into academic institutes, hospitals, military organizations and others. Intensifying alertness concerning patient safety, mounting emphasis on reducing medical errors, and the escalating number of medical school enrollees are the factors growing the demand of healthcare/medical simulation in academic institutes. Among the all end users, the academic institutes accounted the largest share in the healthcare/medical simulation market.

Industry Dynamics

Industry Trends

Virtual reality and augmented reality, race towards top fidelity and use of multidisciplinary approach in the development of simulators are the trends in the healthcare/medical simulation market.

Growth Drivers

The advantages of simulation over conventional learning, mounting need for minimally invasive treatments, mounting healthcare expenditure and mounting emphasis on patient safety are the primary growth drivers for healthcare/medical simulation market. The demand for minimally invasive procedure is increasing in order to overcome the complications of conventional surgery such as fatigue, blood clots, infection, postoperative pain and muscle atrophy.

Moreover, the swiftly progressing medical simulation market provides medical students, nurses, doctors, and other healthcare professionals with numerous simulation products and services to accompaniment the imitation of reality allowing examination of promising changes, experiencing situations. The initiation of simulation in healthcare has drastically decreased the amount of deaths owing to insecure care. In addition, the performance of clinicians has enhanced with the usage of simulation techniques.

Lack of healthcare personnel, mounting pressure on educators, improving healthcare infrastructure in developing countries and budding alertness on simulation learning in developing countries are also facilitating the growth for the healthcare/medical simulation market. Technological improvements are also driving the growth of the market. For instance, in January 2018, CAE introduced CAE LucinaAR with Microsoft HoloLens, the reality childbirth simulator with incorporated mother-baby physiology. It permits beginners to understand the anatomy within the patient simulator.

Challenges

The budgetary constraints, operational challenges and high cost of simulators are the major challenges for the growth of healthcare/medical simulation market. Moreover, disinclination to accept innovative training methods and inadequate obtainability of assets in emerging countries are also hindering the growth of the healthcare/medical simulation market.

Industry Ecosystem

Globally, the manufacturing companies trying to enter the healthcare/medical simulation market are required to maintain stringent regulatory standards. This offers an edge to the established players in the industry competition.

Geographic Overview

Geographically, North America is the largest medical simulation market as in the region the number of healthcare professionals is increasing. Easiness of availability to technologies, elevated acceptance of simulation by medical universities and training centers, improved healthcare infrastructure, and entrenched distribution channels are also up surging growth of the North American healthcare/medical simulation market.

Asia-Pacific is observed to witness fastest growth in the market, as the region comprises of large population base. In addition, mounting awareness on simulation learning, refining healthcare infrastructure, budding focus on the global medical simulation players, mounting healthcare expenditure and mounting emphasis on patient safety are also creating a positive impact on the healthcare/medical simulation market growth in the region.

Competitive Insight

Key players in the healthcare/medical simulation market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In May 2018, 3D Systems launched Simbionix ANGIO Tab Pro endovascular simulator for step-by-step teaching of endovascular interventions. In addition, in June 2017, CAE Healthcare introduced CAE Juno, a recently invented clinical skills manikin for nursing programs, in International Nursing Association for Clinical Simulation and Learning (INACSL) annual conference in Washington.

CAE and Laerdal Medical accounted the major share in the market. CAE, Simulab Corporation, 3D Systems Inc., Mentice AB, Gaumard Scientific Company, Simulaids Inc., Kyoto Kagaku Co., Ltd, Limbs & Things Ltd., Laerdal Medical and Medaphor are the key players offering healthcare/medical simulation.

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