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According to new market research report "Healthcare/Medical Simulation Market by Product & Services (Patient Simulator, Task Trainer, Surgical Simulator (Laparoscopy, Arthroscopy), Dental Simulator, Eye Simulator, Ultrasound Simulator, Simulation Software), End User - Global Forecast to 2022", published by MarketsandMarkets, the report defines, describes, and forecasts the global medical simulation market. The report also provide detailed information regarding major factors influencing the growth market.
The benefits of simulation over traditional learning, increasing demand for minimally invasive treatments, and increasing focus on patient safety are the major factors driving the growth of the medical simulations market. The shortage of healthcare personnel, technological advancements, and growing awareness for simulation education in emerging countries are opportunities for players to enter the Healthcare/Medical Simulation Market.
The global Healthcare/Medical Simulation Market is consolidated at the top with the presence of few big players in the market. However, at the other end the market is fragmented, with regional and global players all competing for market share. CAE (Canada), Laerdal Medical (Norway), 3D Systems (US), and Gaumard Scientific Company (US) are the major players in this market. The companies are mainly focusing on product launches and collaborations, partnerships & alliances.
Laerdal Medical (Norway) held the leading position in the global healthcare/medical simulation market in 2016. The company offers products and services for basic life support, advanced life support, simulation, airway management, immobilization, patient care, self-directed learning, and medical education. The company offers high-fidelity simulators and task trainers; markets of both are projected to grow due to increased demand in training healthcare professionals worldwide. It is an international company with presence in more than 25 countries and manufacturing plants in Norway, China, the US, and Mexico. The company has strategically advanced its presence in the global medical simulation market through growth strategies such as collaborations and product launches. For instance, in October 2015, Laerdal Medical collaborated with B-Line Medical and integrated its LLEAP software with B-Line’s SimCapture, a web-based video capture and debriefing solution. This integration gives more control to operators in simulation training. Moreover, in October 2017, Laerdal Medical launched Little Anne QCPR, to help instructors improve CPR training quality, efficiency, and learner engagement. Innovative products and the company’s significant brand value helps the company maintain its leading position in the market.
CAE (Canada) is among the leading players in the Healthcare/Medical Simulation Market. The company offers a wide range of products and solutions for simulation activities. It has a robust portfolio of products which range from ultrasound to patient, surgical, and task trainer simulations to name a few. CAE operates in North America, South America, Africa, Europe, the Middle East, Asia, and Oceania. The company operates its healthcare simulation business through direct and indirect sales in more than 80 countries. In 2016, CAE invested 7% of its global annual revenue in R&D activities. Consolidated revenue from continuing operations was USD 734.7 million this quarter, USD 52.0 million or 8% higher than last quarter and USD 12.2 million or 2% higher than the fourth quarter of fiscal 2016. Continued investment in R&D has led the company towards being a major market player in the Healthcare/Medical Simulation Market.
Geographically, the Healthcare/Medical Simulation Market in the APAC region is expected to register the highest CAGR during the forecast period. This region is expected to grow at the highest pace during the forecast period, primarily due to a large customer base in these regions due to a rising share of aging population and prevalence of various disorders.
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